{"id":8104,"date":"2023-01-03T07:49:00","date_gmt":"2023-01-03T07:49:00","guid":{"rendered":"https:\/\/www.casino.com\/blog\/\/blog\/?p=8104"},"modified":"2024-09-02T04:13:29","modified_gmt":"2024-09-02T04:13:29","slug":"blackjack-insurance-always-bad-bet","status":"publish","type":"post","link":"https:\/\/www.casino.com\/blog\/2023\/01\/03\/blackjack-insurance-always-bad-bet\/","title":{"rendered":"Blackjack Insurance: Always a Bad Bet"},"content":{"rendered":"\t\t
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The term \u201cInsurance\u201d is used to define a form of protection from financial loss. It is a very safe thing to do. You can insure your house, car, and belongings against accidental damage. This makes it all the more strange\u00a0when you hear the term associated with the turbulent game of blackjack.\u00a0<\/p>\n\n

When playing blackjack<\/a>, insurance can only be taken in certain circumstances. However, it does what it says, giving you a chance to break even on certain dealer hands. Below, we discuss blackjack insurance and why it is always a bad bet.\u00a0<\/p>\n\n

What is Blackjack Insurance?<\/strong><\/h2>\n\n

Insurance is a slightly misleading term for this option in blackjack<\/a>, as it is essentially a side bet. Once the cards have been dealt, if the dealer’s up card is an ace all the players will be offered the chance to take \u2018insurance.\u2019 The bet is made just before the dealer checks the hole card.\u00a0<\/p>\n\n

This is a bet made against the probability that the dealer will get a 10-value card to accompany their ace, creating blackjack. If they do, then the players will get a payout that sees them break even. To do this, the cost of a bet is usually half the amount of the player’s main wager and pays out at 2\/1.\u00a0<\/p>\n\n

While there are some detractors from the insurance side bet, it does offer some advantages. Players can break even, even if they lose the main bet.\u00a0<\/p>\n\n

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How Does Blackjack Insurance Work?<\/b><\/h2>\n

The general idea of blackjack insurance is to protect the player in the event that the dealer themselves has blackjack. It is a pretty simple concept so long as you know what to look for.<\/span><\/p>\n

Should the dealer have an Ace as their face-up card, they will offer players the option to take insurance. This happens only after the cards have been dealt and before the dealer flips over their hole card. As soon as that happens, the hand progresses and the option for insurance is gone.<\/span><\/p>\n

In order to buy insurance, a player must place a bet on the insurance line. They\u2019re pretty clearly called out on a blackjack table; the dealer can even show the specific place where to lay that bet. An insurance bet will generally be up to half of the player\u2019s original bet.<\/span><\/p>\n

In the event the dealer has blackjack, the player(s) who made an insurance bet will earn a payout of 2:1 (or twice the amount of their insurance bet). If the dealer doesn\u2019t have blackjack, the player loses the money from the insurance bet and the hand continues as it would. Players can still win or lose the original bet placed depending on what happens in the game.<\/span><\/p>\n\n

Blackjack Insurance Winning Examples<\/strong><\/h3>\n\n

You place a bet of $20.<\/p>\n\n

Your hand is a nine and a queen. This gives you a value of 19.
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The dealer has a face card which is an ace. You are offered the insurance bet.\u00a0<\/p>\n\n

The insurance bet is taken. It costs half your initial bet, which is $10.
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The dealer turns their card over to reveal a card with a value of 10. Giving them a combined total of 21 they now have blackjack.\u00a0<\/p>\n\n

As a result, you win the insurance bet. This pays out at 2\/1 so you manage to break even.\u00a0<\/p>\n\n

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Blackjack Insurance Losing Examples<\/strong><\/h3>\n\n

You make a bet of $20.\u00a0<\/p>\n\n

The dealer gives out the cards. You have a 7 and a queen. This gives you a hand of 17.<\/p>\n\n

The dealer’s up card is an ace. You are offered the insurance bet and take it.\u00a0<\/p>\n\n

The insurance bet is half of your initial bet, so you put down $10.
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The dealer reveals a 5. As they don\u2019t have blackjack, you have lost the $10 insurance bet, but keep your $20 original bet.\u00a0<\/p>\n\n

The game then continues to see if the dealer can beat your total of 17.\u00a0<\/p>\n\n

Blackjack Insurance Odds<\/strong><\/h2>\n\n

The odds of blackjack insurance are determined by several factors. The most obvious is how many decks are in the shoe<\/a>. Knowing how many 10-value cards have already been dealt can also change the odds.\u00a0<\/p>\n\n

However, blackjack insurance states that the dealer’s other card has around a one in three chance of being a value of ten. This can sound quite appealing. Despite this, when playing, over time blackjack insurance does not offer favourable odds. Chances are if the dealer does have blackjack, you are more than likely to lose the main bet. Insurance will only see you break even, not make a profit.\u00a0<\/p>\n

Pros and Cons of Insurance Betting in Blackjack<\/b><\/h2>\n

In order to make the best decision possible regarding blackjack insurance, you need to know the pros and cons. Here are a few things to keep in mind before taking the insurance bet:<\/span><\/p>\n

Pros<\/b><\/p>\n

The first and most obvious advantage to taking the insurance bet is the protection it offers. Without it, the hand merely ends should the dealer have blackjack and the bet is lost. By taking insurance, players can get twice their insurance bet back to mitigate the loss of facing a dealer with blackjack. It isn\u2019t a great long-term strategy but can help to reduce losses when facing a hot dealer.<\/span><\/p>\n

Cons<\/b><\/p>\n

At the end of the day, even a winning insurance bet is still a loss. Moreover, there is a negative expected value since the dealer isn\u2019t going to have blackjack every time. As a matter of fact, the odds of them having blackjack are far less than the odds of them not having blackjack. Every insurance bet placed that doesn\u2019t face blackjack is a loss.<\/span><\/p>\n

Taking the insurance also provides the house a greater edge. The casino increases its advantage when a player takes insurance because they are going to come out with a winning value no matter what happens. Even if insurance is paid out, it doesn\u2019t cover the entirety of the original bet.<\/span><\/p>\n

Finally, implementing blackjack insurance can also be something of a distraction from basic blackjack strategies. Most experienced players will stay away from insurance for this reason. They focus on hand-based strategies, which gives them a greater chance of winning over a long period of time.<\/span><\/p>\n

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When to Take Blackjack Insurance<\/b><\/h2>\n

Operating under the assumption that you believe in the insurance strategy, it helps to know when to deploy it. Having a strategy surrounding blackjack insurance can help prevent you from playing it too often to a loss.<\/span><\/p>\n