- What insurance is, is a side bet that the dealer has a 10 point card in the hole. It is offered when the dealer already has an ace up, so it wins in the event that the dealer gets a blackjack. The insurance bet can be made for up to half of the player's original bet and it pays two to one if it wins.
- What Is Insurance Mean In Blackjack, ruidoso casino resort, roulette records mafia, poker offline para galaxy y.
- Insurance bet means ‘protecting' your bet in case the dealer has a blackjack. If the dealer's shown card is an ace, you can immediately take back half your bet so if the dealer wins, you'll only lose half your original stake.
Insurance is only available when the dealer's visible card is an Ace. Before the dealer checks the other card, insurance is made available. You are allowed to insure up to half of your original bet that the dealer has BlackJack. The 2 to 1 payout means that the chance of a dealer blackjack needs to be at least 33.3%, and in this example, the chance is 40%. While this example is an extreme one to show when insurance is a good bet, you can also learn something from it.
Blackjack Insurance: Is it a Sucker Bet?
By Arnold Snyder(From Casino Player, May 1997)
© Arnold Snyder1997
Question from a Player: My problem is that I have this feeling that I'm taking insurance far too often. I lose this bet a lot, even though I only take insurance when my true count is +3 or more. (I'm playing mostly in six-deck games in Mississippi and Louisiana.)
On my last trip, I put in 19 hours at the tables over a three day period. I kept track of all my insurance bets. I took insurance 14 times, won 5 times and lost 9 times. I realize this is a very short test from the statistical point of view (I've been reading your column for years!), but my experience on all of my trips is similar to this. I lose the insurance bet way more than I win it. This is just the one trip where I kept track of my results.
What's worse, when I win the bet, I don't really win anything, I just break even on my hand. Winning is actually more like pushing. When I lose the insurance bet, however, I not only lose the insurance, but I still have to play the hand against a dealer ace, which also often loses. I'm starting to think this insurance bet is just a sucker bet for card counters.
Blackjack Insurance: A Side Bet, Nothing More
Answer: Many players are confused about the way insurance works because, in casino jargon, you are 'insuring your hand.' Insurance is a side bet, and has nothing to do with the results of your blackjack hand.You are simply betting that the dealer has a ten in the hole. If he does, you win 2-to-1. It is not a 'push' for your hand.
For example, you have a $100 bet on the table. You have a 16 vs. a dealer ace. Let's say the insurance bet does not exist. The dealer peeks at his hole card, flips over a ten, and you lose your $100.
Now, assume insurance is offered. You have a true count of +5, so you put out $50 for insurance. Now, when the dealer flips over his ten, he pays your $50 insurance bet at 2-to-1 ($100), but you still lose your hand, so you break even.
Since, without the insurance bet, you would have been minus $100, this $50 bet gained you $100.
The actual result on your blackjack hand will be exactly the same regardless of whether or not you take insurance. If, for example, the dealer has a blackjack, you lose; if not, then you have to play out your hand vs. whatever he does have.
Also, your analysis of your blackjack insurance results indicates that you did pretty close to what you would expect as a card counter. For the sake of simplicity, let's say all of your insurance bets were $50 each. Since you lost 9 times, this is a $450 loss; since you won 5 times (at 2-to-1), this is a $500 win. So, you're $50 ahead of where you would have been had you never taken insurance.
Technically, your fourteen $50 insurance bets would total $700 in action. A $50 win total on $700 action would mean that insurance has paid you at the rate of 6.67% — which is more likely a positive fluctuation in your favor than a negative one.
Remember, if you win your insurance bet just half as often as you lose it, you break even. So, it will always seem like you lose this bet more than you win it, even when you are making money on it. ♠
For more card counting and blackjack analysis, see the Professional Gambling Library.
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Although blackjack is one of the simpler card games to learn as a gambler, there are some high-level techniques that can make you money. One of the not-so-high-level techniques is one that we can all easily apply to our game: just stop taking insurance bets.
Insurance is a sucker's side bet that is offered when the dealer upcards an ace. You can only take this bet up until the dealer checks the hole card. If insurance is taken and the player is not holding blackjack, they must wager half of their original wager. If blackjack is then drawn by the dealer, with a card valued at 10, insurance is paid out as double (2:1) the insurance wager.
Insurance bets go even deeper, though, extending to players who hold a natural blackjack in hand. These players can take what is called 'maximum insurance' to forfeit the winning 3:2 payout for an even-money (1:1) payout.
To understand why the insurance bet is an attractive option for some gamblers, you need some basic card knowledge. Taco flavored doritos discontinued. When a dealer upcards an ace, the chance for them to draw a card valued at 10 is less than one in three. Placing an insurance bet is protection against this common outcome.
Side bets and bet hedging are tactics that make inexperienced gamblers feel safer, but biting on an insurance bet is almost always going to cost you. Let's talk about why.
The Math Behind Insurance Bets
For more card counting and blackjack analysis, see the Professional Gambling Library.
Return to Blackjack Forum Home
Although blackjack is one of the simpler card games to learn as a gambler, there are some high-level techniques that can make you money. One of the not-so-high-level techniques is one that we can all easily apply to our game: just stop taking insurance bets.
Insurance is a sucker's side bet that is offered when the dealer upcards an ace. You can only take this bet up until the dealer checks the hole card. If insurance is taken and the player is not holding blackjack, they must wager half of their original wager. If blackjack is then drawn by the dealer, with a card valued at 10, insurance is paid out as double (2:1) the insurance wager.
Insurance bets go even deeper, though, extending to players who hold a natural blackjack in hand. These players can take what is called 'maximum insurance' to forfeit the winning 3:2 payout for an even-money (1:1) payout.
To understand why the insurance bet is an attractive option for some gamblers, you need some basic card knowledge. Taco flavored doritos discontinued. When a dealer upcards an ace, the chance for them to draw a card valued at 10 is less than one in three. Placing an insurance bet is protection against this common outcome.
Side bets and bet hedging are tactics that make inexperienced gamblers feel safer, but biting on an insurance bet is almost always going to cost you. Let's talk about why.
The Math Behind Insurance Bets
The 'insurance' side bet in blackjack is given this name so that players feel like their hand is being protected. We often attribute insurance to being a positive and reassuring thing. However, that's not the case in blackjack. Rather than a true form of insurance, you're just committing to an additional bet that the dealer holds a natural blackjack.
The odds against the dealer having a natural blackjack when their upcard is an ace is 9:4. This alone should be enough to tell any savvy player that the bet simply isn't worth it. Theoretically, the 2:1 payout odds on an insurance bet puts this at 8:9—still disadvantageous for the player. So, if you were to make 100 insurance bets of $10, you'd win around 31 of them for $620. This means you would lose 69 of those bets for $690.
This same logic applies when you're holding blackjack. If you take the insurance bet, you're either going to win the $10 on your bet and push or lose the $5 insurance bet while winning your $15 blackjack hand. What's the point? You're winning $10 one way or another. However, without taking the insurance bet, you're going to average roughly $10.38 per blackjack.
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Insurance bets are a ruse that sounds great until you break it down into numbers. This holds true with betting systems like Martingale, too. These are parts of blackjack that prey on the uninformed.
Should You Ever Take Insurance in Blackjack?
Yes and no. There are rare instances where the odds are so in favor of the dealer drawing a card valued at 10 after upcarding an ace that you technically should take the insurance bet. However, it requires an expert grasp of card counting. Some gamblers even form a card-counting team to do this.
Amateur and hobby gamblers aren't going to be well-versed in card counting until they get down the basics, but after you have learned this valuable skill, finding opportunities to take insurance could be the last squeeze of optimization you can get out of your blackjack game.
Because of this, it's not fair to say that you should absolutely never place a bet on insurance—though it's a safe rule to play by. For those of you who are skilled in card counting, let's talk more about this option.
The Exception: When to Bet on Insurance
Like most rules of gambling, there is an exception. If you are a high-level player that is talented at card counting, you can place an insurance bet where the odds favor you—when the deck is over one in three cards valued at 10.
What Do Insurance Mean In Blackjack
Card counting to make an inference on if the remainder of the deck is heavy on 10s requires intense concentration and sharp thinking. Many of the experts who practice this specific blackjack skill have the percentages memorized and mapped out in their heads.
Card counting is a completely separate animal from insurance, though, so I suggest you only take up this option when you find time to master that skill. Also worth considering is that many casinos will flat-out give you the boot if you're caught counting cards. Surprising that they aren't interested in playing with educated gamblers who take their money, right? Luckily, that's not an issue you have to worry about at the best online blackjack sites.
That being said, a strict diet of insurance avoidance is a healthy way to play. If you follow this rule and manage your bankroll properly, you're already doing better than many blackjack players out there. Learning to count cards and play into side bets is just the cherry on top.
Closing Remarks
Insurance is a trap that many blackjack players who think they're being smart and savvy fall into. You have to think, 'Why would the house even give me this option if it didn't favor them?' Casinos are set up to beat you through schemes like this, and the only way you make it out on top it to fully understand and develop strategies to beat them.
Insurance Mean In Blackjack
Learn to discipline yourself against placing bets on insurance. The next step is to eventually learn card counting. After, you can optionally adjust your insurance strategy to take this bet whenever the remaining 10-value cards are in your favor.
What Does Insurance Mean In Blackjack
As an amateur player, it's important not to overcomplicate the game when you're at the blackjack table. Luckily, eliminating the thought of ever taking insurance is a completely viable strategy that everyone can adopt today. It's not hard to learn blackjack, and insurance just overcomplicates it.
