When you think of insurance, only one thing comes to mind: compensation or protection from financial loss. Usually, we take insurance on our health or homes, but what is insurance in blackjack? Let's just say it's something you may want to implement in your blackjack strategy.
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What Does Insurance Mean in Blackjack?
Let's get straight to it - what is insurance in blackjack? Simply put, it's a special side bet you can make when the dealer's up-card is an ace. This is insurance against the dealer, getting a total of 21.
You can make this insurance bet before the dealer checks their hole card, which is the second card. If the hole card has a value of 10, the dealer's total will go to 21, and you will win the insurance bet. If the dealer's hole card doesn't have a value of 10, you will lose the insurance bet as the dealer's total did not make 21.
This side bet typically pays out at 2:1, and most versions of live casino blackjack only allow the maximum insurance bet to be half the amount of your original bet.
Blackjack Insurance Examples
Let's understand blackjack insurance better by looking at both winning and losing examples.
Winning Blackjack Insurance
The following scenario displays how you can win the blackjack insurance bet.
- You place a £20 wager in a game of blackjack.
- The cards you have been dealt are an 8 and a Queen.
- The first card the dealer has been dealt is an Ace.
- Now, you have the option to make an insurance bet, and you make an insurance bet for £10.
- The dealer's second card is another 10-point card, meaning they got blackjack.
In the above scenario, you will win your insurance bet and receive a total of £20 while losing £10 on your initial bet. The result is break-even.
Losing Blackjack Insurance
The following scenario displays how you can lose the insurance bet:
- You place a £20 wager in a game of blackjack.
- The cards you have been dealt are an 8 and a Queen.
- Again, the first card the dealer gets is an Ace.
- Now, you make an insurance bet for £10.
- However, this time the dealer's second card is revealed to be a 5.
In this scenario, you will lose your insurance bet as the dealer didn't get blackjack. However, the blackjack hand continues to determine if the dealer can beat your total of 18. If you lose your original bet, you will also lose a total of £30.
Blackjack Insurance - Yes or No?
Now that you know the answer to 'What is insurance in blackjack?' Let's talk about whether online casino blackjack insurance is worth it. For you to win an insurance bet in blackjack, you require the dealer's hole card (second card) to be a 10-point card.
The total number of 10-point cards in the deck is 16, so there's only around a 30% chance of that happening. So, based on just statistics, the blackjack insurance bet may not always be the best option. However, if you're keeping an eye on the deck, you may be able to use blackjack insurance to your advantage!
That's because you can keep an eye on the deck to determine how many 10-point cards are left in the deck! This technique is known as card-counting; however, it's not very effective in modern-day blackjack as several card decks can be used.
What are the Odds for Insurance Bets?
If you do manage to win the Insurance bet, the payout you will receive will be 2:1. So, if you bet £10, you will receive £20 if you win the insurance bet. However, you will lose your initial £10, so in the end, you'll break even.
The odds of winning insurance bets in blackjack can change from game to game. That's because it depends on various factors, including how many 10-point cards are left or the number of decks being used. On average, the dealer's odds of making blackjack are 9 to 4, so you have to consider that before you decide to make an insurance bet in blackjack.
Sure, the insurance bet may be a bit tricky when you initially start playing blackjack. However, soon, you'll get the hang of it, and it may help you minimise your losses while playing blackjack online or in land-based casinos. The final verdict? The blackjack insurance bet has the potential to be a handy tool that you should consider adding to your arsenal!