Over the years, Blackjack has captured the attention of many people through gameplay involving both luck and skill. It is important to understand the different betting options available in the game in order to maximise your chances of winning. One such betting option is the insurance bet. In this article, we will provide a comprehensive guide to insurance bets in blackjack.
What is insurance in blackjack?
Insurance is a type of side bet that is offered to players when the dealer’s face-up card is an Ace. The insurance bet is essentially a bet on whether the dealer has a 10-value card (10, Jack, Queen, or King) in their hand, which would result in a natural blackjack. The insurance bet is usually half the amount of the player’s original bet and pays 2:1 if the dealer does indeed have a blackjack.
How it works
If the player decides to take insurance, they place their additional bet in the insurance betting area on the table. The dealer will then check their hole card to see if they have a natural blackjack. If the dealer does not have a blackjack, the insurance bet is lost, and the game continues as normal. If the dealer does have a blackjack, the player loses their original bet but wins the insurance bet, resulting in a net loss of their original bet. Check out our How to Win Blackjack guide for more info on beating the dealer in play!
When to take it
The decision to take insurance should be based on the player’s assessment of the likelihood that the dealer has a natural blackjack. If the player believes that the dealer has a high likelihood of having a blackjack, then they may want to take insurance to mitigate their potential losses. However, if the player believes that the dealer has a low likelihood of having a blackjack, then they should avoid taking insurance as it is not a profitable bet in the long run.
Why you should avoid it
Insurance bets are generally considered to be a suckers’ bet because it is not profitable in the long run. The payout for winning an insurance bet (2:1) is not commensurate with the probability of the dealer having a natural blackjack (roughly 1 in 3). In other words, the player is paying too much for the potential reward. Furthermore, taking insurance decreases the player’s overall expected payout for the game.
Summary
Insurance bets are a type of side bet in blackjack that can be taken when the dealer’s face-up card is an Ace. The insurance bet is a bet on whether the dealer has a natural blackjack and pays 2:1 if they do. However, insurance bets are generally not profitable in the long run and should be avoided. Players should only take insurance when they believe that the dealer has a high likelihood of having a natural blackjack. By understanding the ins and outs of insurance bets, players can make informed decisions and increase their chances of winning at blackjack. There are plenty more useful guides to help improve you Blackjack play at Online Casino Slots.
