What Does It Mean To Insure In Blackjack

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Insurance is a word that most people are familiar with. You buy insurance just in case you get in a car accident with an uninsured driver, just in case you die and just in case you break your arm after falling off your ladder while hanging Christmas lights. You pay a premium up front and if or when the inevitable happens, the insurance companies takes care of (most of) the cost.

With traditional insurance in mind, I think a lot of players confuse what insurance is as a side-bet in blackjack. Insurance (in blackjack) is not as good as it appears. My goal for this article is to explain exactly what blackjack insurance is, and why you should avoid it like the plague.

Insurance is a side-bet that dealers offer to players whenever they have an ace showing. The idea behind insurance is to protect your bet just in case the dealer has a blackjack.

Essentially, Blackjack insurance allows the player the option to lessen their wager after the dealer exposes their cards and reveals an Ace card. In this scenario, if the rule is in play, then if the dealer has an Ace then he or she will go around the table asking each player whether or not they want insurance.

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How Does Insurance in Blackjack Work?

When a dealer has an ace showing they’ll ask you if you want insurance. This is before they check for a (natural) 21. If you take the insurance you can wager as much as half of your original bet. For example, if your original bet was $10 you can pay as much as $5 for insurance.

Once the insurance bet has been placed the dealer will then check for a blackjack. If the dealer has a blackjack you’ll be paid 2-1 on your money (insurance bet). If you wagered $5 you’d receive $10. However, unless you have a blackjack, too, you will still lose your original bet, breaking even overall. If the dealer doesn’t have a blackjack, you’ll lose your insurance bet and will still have the opportunity to play your hand like normal.

Another insurance-like situation you may find yourself in is if you have a natural blackjack and the dealer has an ace showing. The dealer will offer you even money on your bet. In other words, if you bet the maximum of $5 insurance on a $10 bet and the dealer has a 21, you’ll push on the blackjack, but win 2-1 on your insurance. So you’d be up $10. However, if you take the insurance and the dealer doesn’t have a blackjack, you’ll lose your $5 bet and win 2-1 on your blackjack ($15) for a total of $10. Either way, you walk away with an even money win.

So… Should You Take Insurance or Even Money Side-Bets?

No. Experts recommend that you pass on insurance bets.

The reason why passing on insurance in blackjack is recommended is because the dealer will only show up with a blackjack 30.87% of the time. However, to breakeven on the insurance bet you need a 10-point card to show up 1 out of 3 times (33%). So every time you take this bet you’re taking a minor loss over the long run, assuming you max your insurance bet (half the original).

There are exceptions, of course. For example, if you’re a card counter than you would know how many 10-point cards are left in the deck. So if the deck is rich with 10-point cards it would make sense to take the insurance bet. If the deck is poor with 10-point cards you’d pass on insurance.

You could even make the argument that you don’t have to be a card counter. In fact, if you simply pay attention to the cards dealt and notice that there are more 10-point cards then you could pass on insurance, or vice versa. The difference here (from counting cards) is that you’re not as accurate, and would likely be making a breakeven play, or at best a slight win/loss.

At the end of the day, though, taking insurance is going to be a -EV bet for the majority of players. To give you a better idea of how insurance affects the house edge, just look at these numbers:

  • 1 Deck – 5.88%
  • 2 Decks – 6.8%
  • 4 Decks – 7.25%
  • 6 Decks – 7.4%
  • 8 Decks – 7.47%

What Does It Mean To Buy Insurance In Blackjack

Not very appealing, right? So unless you know how to count cards you should avoid taking the insurance bet in blackjack like the plague. Unless you like losing, of course.

When playing an Insurance bet, you will definitely lose some money. Image: Pixabay

What Does It Mean To Insure In Blackjack Winnings

Insurance is a side bet you will find in almost all Blackjack tables. Those operated by real-life dealers are no exception. This optional bet allows you to insure your wager at a certain price. Although the idea itself may seem quite attractive, placing an Insurance bet is considered one of the worst moves you can make in the game of Blackjack. Stay with us to learn more about Blackjack Insurance and whether it is worth it.

How Insurance Bet Works

As we have already mentioned, this is an optional, side bet and to play it you need to wager extra money. Insurance becomes available after the initial cards are dealt and the dealer’s face-up card is an Ace. Since the dealer’s hand could be a natural blackjack, you are allowed to insure a part of your wager. How does it function? After you see that the dealer has an Ace, you place an Insurance bet which is equal to a half of your main bet. Should the dealer hit a natural, the Insurance bet wins and you get 2:1. However, you lose your Ante bet. On the other hand, if the dealer does not show a blackjack, the Insurance bet loses.

When playing an Insurance bet, you will definitely lose some money. It can be your main bet when the dealer hits a blackjack or the side bet when the dealer doesn’t manage to create a blackjack hand. It is easy to see that you cannot win on both bets. As an Insurance bet pays 2:1, it means that you will win the amount equal to your Ante bet when the dealer has a blackjack. But at the same time, you will lose your main bet, meaning that you will in the end still lose half of your main wager. If you beat the dealer, you will win a payout of 3:2 and lose half of your main bet.

Should You Play Insurance Bet

An Insurance bet should be played only if you are sure that the dealer’s hole card is worth 10. You can be sure about it only if you count cards. As you know, it is not a reliable technique when it comes to Live Blackjack. Unlike at brick-and-mortar casinos, at live casinos, online the deck penetration is never deep enough to provide you with a card count you can bank on. You should not go for an Insurance bet especially when you have a 10 or any face card in your hand.

What Does It Mean To Insure In Blackjack Machine

What does it mean to insure in blackjack machines

When you do the math, it is clear that an Insurance bet is really not worth it. Although we have given only two scenarios as an example of playing this side bet, there are other situations as well and none of them provides you with a chance to win more. You can only lose more money. The only situation in which an Insurance bet can be acceptable is when you have been dealt a blackjack and the dealer holds an Ace. By playing the side bet, you practically insure that you will keep your original wager and this is the biggest net gain you can secure. This particularly applies if you play Blackjack at high stakes.

What Does It Mean To Insure In Blackjack Terms

In conclusion, we have to underline that no matter what the dealer’s face-up card is, you should stick to your bankroll and do not take unnecessary risks. And playing an Insurance bet is definitely a risky and non-profitable move. It is better to go bust in a single round than lose your money in the long run.