Insurance is one of the special side bets offered to blackjack players. This side bet lets players stake half their original bet against the dealer who hits a natural blackjack. All casinos, whether land-based or online, offer this kind of side bet in blackjack as a standard option. However, most blackjack players often apply this blackjack side bet incorrectly during the game. If you aspire to be a great blackjack player, you should remember that not all available options lead to good results. Professional blackjack players know when to use and pass an insurance bet. Once you decide to take the insurance offer at the right time, the house edge of the game reduces.
Blackjack Side Bet: Understanding Insurance in Blackjack
The goal of the player is to beat the dealer by drawing cards until you are close to 21. However, when the dealer hits a blackjack, the player loses the game. An insurance bet is taken by the player in order to protect your hand against the possibility that a dealer holds a blackjack. If the dealer’s up-card is a 10, he will check his hand after the cards were dealt in order to identify if he holds a blackjack. Once the dealer shows an ace in the hole, he will turn his cards over and collect the wagers of every player who does not have a blackjack.
In another situation when the dealer’s up-card is an ace, he will offer an insurance bet to the players. In this particular arrangement, a player can place a bet that is half or less than the original wager. If the dealer’s second card reveals to be a 10, the player wins the insurance bet but loses the original wager. If the dealer does not hold a blackjack, the player loses the insurance bet and the hand is played out.
Availing of the Insurance Offer
A player can only take an insurance bet once it is offered by the dealer. If you accept this offer you will place a bet, which is half your original wager. You will place your insurance bet on the table beside the word “insurance”. The dealer will recognize your decision and move to the next player. Taking insurance does not necessarily require you to speak or make hand gestures. Simply place your bets on the table to avoid criticism from other players.
In terms of playing online blackjacks, taking insurance is simple. Once the dealer offers you this side bet, a box will appear on your screen with the word “insurance”. If you accept this offer, simply click the box and your insurance bet will be placed automatically.
Blackjack Insurance as it Is
Insurances are offered to players in order to protect them against the dealer who may possibly hold a blackjack. As good as it sounds, this will still be a disadvantage to most players. Below are the percentages of insurance bets according to the number of decks used and how it is strongly in favor of the house edge.
- Single deck – 5.882%
- Double deck – 6.796%
- 4 decks – 7.246%
- 6 decks – 7.395%
- 8 decks – 7.470%
Insurance is a bad bet that can greatly reflect how much more likely the online casino is to win the bet. For example, the casino wins back almost $106 for every $100 you bet. For every $100 you bet, you get back about $94 or $6 loss. Professional blackjack players are wise enough to take this deal and pay attention to the percentages otherwise you will end up losing a lot of values.
The Right Time to Take Insurance
Blackjacks are paid 3:2 at most times. If you hold a blackjack, you should insure your own blackjack to guarantee a positive return. However, a push occurs if you receive a blackjack the same time as the dealer. A push means you tie the hand and receive no money for your blackjack.
Taking insurance in this situation will let you push your blackjack as you collect 2:1 on your insurance bet. If the dealer does not have a blackjack, you lose the insurance bet but collect 3:2 on your blackjack. Nevertheless, insurances are still a bad bet and it is important to ensure your own blackjack first and choose the option to play the long run.
