- Great range of games
- Inviting welcome package
- Fully licensed and regulated
Insurance in Blackjack, also known as a Side Bet Insurance is one of the many options offered to a blackjack player, but it is an option which is most often exercised incorrectly in live play. Insurance is a side bet which is considered independently of the main wager made by the player. All casinos offer insurance as a standard option. 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.
Unless you're counting cards in a real-life casino, you should never wager money on insurance in blackjack. All it takes is a quick look at the math behind the bet to see that statistically it's going to lose you money in the long run. The odds against the dealing making a blackjack are roughly 9 to 4. Let's take a closer look at what insurance in blackjack is, how is it identical to the blackjack even-money payout, and why you should avoid both of them if you are a basic strategy player. How Blackjack Insurance Works. Blackjack players are offered insurance whenever the dealer's exposed card is an Ace. Insurance in Blackjack Under the rules of blackjack, an ace for the dealer opens up the option of insurance. Because it's such a powerful face-up card, the house will give you a form of protection. If you take blackjack insurance, you'll receive some money back if the dealer hits blackjack.
- Great Live Casino
- Mobile Friendly
- Awesome Promotions
Blackjack online can be a lot of fun, and it can provide you with hours of entertainment. Especially considering that there are so many variations of it available, too. From live Blackjack to mobile Blackjack, there's something for everyone these days.
Yet, there are also some inclusions in the games that you may not be as familiar with and/or know how to use effectively.
One of those options is the Insurance addition. This won't be found in all blackjack games, but it's functional in quite a few, and it's relative for you to know what it's all about and how to go about using it. Top 10 online casino malaysia 2018.
So, that's why we've brought together this Blackjack Insurance explanation. This way, you'll be able to know what it does and when you can utilise it to the best of your advantages.
What Exactly is Insurance in Blackjack?
If you think of insurance as a word in general, it relates to something that covers you for a particular outcome. So, if you think about your car, you get this insured so that if you are involved in an accident of some kind, you have a way to get it repaired without having to fork out hundreds or thousands to get this done. Well, in blackjack, you're insured against a certain outcome taking place in the game.
Essentially, insurance is a side bet that is offered to you when the dealer's face-up card is displayed as an Ace. So, you have the chance to place an additional bet which is equal to half of the original wager that you placed. You're basically betting on the dealer having a blackjack hand. So, if you've made an insurance bet and the dealer turns over their second card to reveal a 10, Jack, Queen or Kind card, then you receive a pay-out from the insurance bet of 2 to 1.
The idea of this side bet is that you have the opportunity to win back some of your initial bet should the dealer have been dealt a blackjack. So, let's say that you place a wager of €30 and you receive a hand of 19 from your first two cards. You see that the dealer's face-up card is an Ace, so you decide to place an insurance bet, equating to €15. The dealer then urns their downcard over and it's a 10, making it a natural blackjack. While your original be will lose, your €15 insurance bet pays out 2 to 1 – so €30.
It's always the case that an insurance bet will pay out 2 to 1, and its commonplace for you to not be able to bet more than half of your original bet on this side wager.
So, When Should You Opt for Insurance?
Unless you're able to count cards at a land-based casino, then you should never proceed with an insurance bet when playing blackjack. You don't need to look too hard to discover that in the long run, it's going to be something that loses you money.
Odds against the dealer having a blackjack hand are roughly 9 to 4, meaning that on average, you are likely to lose more than half of the insurance bets that you make in this situation. That's because the side bet only pays out 2 to 1, so it's quite a losing proposition to take.
There is an exception to this rule though, and that applies specifically to advanced card counters. Such players are able to keep track of how many 10-point cards have already been dealt out and how many remain in the deck. The higher proportion of 10-value cards in the shoe, the more likely it is that the dealer will make a natural blackjack. Nugget casino buffet reno city. So, if the count isn't good enough, then taking an insurance bet could be a great way of saving some money. Of course, it's something that comes with experience more so and applies much more to live casino blackjack gameplay, rather than online. That being said, because you can see which cards the dealer has had online too, it may be able to be implemented this way by advanced gamers.
What Are the Insurance Bet Odds?
There aren't set odds for insurance bets because it depends upon the number of decks being used in the version of blackjack you're playing as well as the number of 10s and face cards that have already been dealt out.
Because someone who is good at card counting can easily keep track of this, they can identify when the most beneficial moments are to utilise the insurance bet. For a general blackjack player, the odds are generally always against you, and it's especially true for many online versions of the game, because in a lot of them, the decks are often shuffled before each hand.
Something else to keep note of is that the more decks in use in a game, the worse the odds get for the player. If you're accessing a one-deck game, then the house edge for insurance bets can be about 5.8%. That leaps up to around 7.5% if you're playing an 8-deck blackjack game as an alternative.
Therefore, a good rule of thumb is that if you definitely have to take an insurance bet, then you should only do it with a one-deck game and with a full table when a small number of 10-point playing cards have been dealt out.
Using a Blackjack strategy can be very useful to increase your chances of winnen. For those who are interested, check our definitive Blackjack Basic Strategy Guide 2020!
Nowadays, there are many different types of insurance one can buy – there is life insurance, car insurance, travel insurance, health insurance, property insurance, and liability insurance. You can even buy insurance in gambling establishments whenever you take a seat at one of their blackjack tables.
- Bonus⋆80 Free Spins
- Bonus$300
- $500$600
The latter is a type of proposition bet in blackjack that has been the subject of hot debates for decades. Few are bold enough to argue in favor of taking insurance but the vast majority of blackjack experts recommend you to refrain from ever making this bet. Let's take a closer look at what insurance in blackjack is, how is it identical to the blackjack even-money payout, and why you should avoid both of them if you are a basic strategy player.
How Blackjack Insurance Works
Blackjack players are offered insurance whenever the dealer's exposed card is an Ace. This is an optional proposition wager which is treated separately from your original bet. When you buy insurance, you are practically betting your dealer has a ten-value card in the hole next to their Ace for a blackjack.
You can insure any two-card hand against a dealer blackjack by betting up to half of your original wager. The chips for the insured bets are placed within the semicircular stripe that runs across the table and reads 'Insurance Pays 2 to 1'. There are two possible scenarios when you take insurance.
If the dealer indeed has a blackjack and you do not, you lose your original stake but win the insurance bet at casino odds of 2 to 1, i.e. you end up breaking even for this round. Provided that the dealer does not have a ten-value card in the hole, you lose the insurance bet and play on your hand continues as usual.
Blackjack Insurance Additional TipsLet's see how buying insurance works with a concrete example. We assume you have wagered $20 on your original hand, which is not a natural, and the dealer exposes an Ace. You want to protect yourself against a potential dealer blackjack and decide to accept insurance so you post an additional $10 bet on top of your initial $20.
The dealer peeks under their hole card and it turns out it is indeed a ten-value card giving them a blackjack. You lose the initial $20 you have staked on your hand but win another $20 from your insurance bet. You break even, i.e. you neither win nor lose money on this round. Had you not insured your hand, you would have been $20 down.
Is Taking Insurance Worth It?
Some players argue in favor of insurance and the basic premise of their argument is that you lose your entire initial bet if you do not insure your hand as opposed to breaking even when you accept insurance.
This 'rationalization' is a load of bosh. Casino operators themselves want you to believe they are doing you a favor by allowing you to insure yourself against a possible dealer blackjack. Some dealers are even instructed to advise players on accepting insurance.
The truth of the matter is you are insuring nothing. What you are doing with this side bet is wagering the dealer has a ten-value card in the hole. This has nothing to do with boosting the odds of your original bet but it has everything to do with decreasing your long-term expected value and here is why.
Suppose you are playing a six-deck game where the ratio of non-ten cards to ten-value cards is 216 to 96. The six decks have just been reshuffled, the dealer exposes an Ace at the start of the first round, and offers you to buy insurance. Provided that we do not take into consideration the composition of your starting two-card total, the ratio of non-ten-value cards to ten-value cards is now 215 to 96 because one of the Aces has already left the shoe.
Therefore, if you insure your hand for a dollar 311 times, you will incur losses of $215 because the dealer's hole card will not be a ten-value one 215 times. The other 96 times the dealer will have a ten-value card in the hole so you will win 96 * $2 for a total of $192. It follows that $311 worth of insurance side bets is equal to net losses of $215 – $192 = $23.
Thus, insurance puts you at a massive disadvantage of (-$23 / $311) *100 = -7.39% which means the house holds an edge of nearly 7.40% with this side bet. No wonder dealers are recommending patrons to insure their hands!
Taking Insurance Additional TipsWhat if we introduce your starting two cards into the equation? Let's imagine your hand consists of two non-ten-value cards like 6 and 2 for a total of 8 while the dealer's upcard is an Ace at the start of the first round.
You are again playing at a six-deck blackjack table, which is to say the ratio of non-ten-value cards to ten-value cards in the shoe is 213 to 96 because three non-ten cards have already been removed (the dealer's Ace, a 6, and a 2).
The shoe now contains only 309 cards so you will lose a dollar 213 out of 309 times and win $2 * 96 for a profit of $192. So $309 worth of $1 insurance bets results in net losses of $213 – $192 = $21. This puts you at a disadvantage of (-$21 / $309) * 100 = -6.80%. There is a slight improvement in the odds but you are still losing lots of money by buying insurance.
Some people argue you must insure only pat hands (like hard 20 and naturals) and decline insurance when you have bad hands like hard 12 or hard 13. Let's put this argument to rest with our last example where some of the face cards are removed from the shoe at the first round of play. Your starting hand is a pair of Queens against the dealer's Ace.
Out of 309 cards left, you have 94 ten-value cards and 215 non-ten-value cards because one of the Aces has been removed. If you take insurance for $1 309 times under these circumstances, you end up losing $215 and winning 94 * $2 = $188. The net loss you incur after placing $309 worth of $1-dollar insurance bets on a pat 20 stands at $27. This puts you at a disadvantage of (-$27 / $309) * 100 = -8.73%.
It turns out insuring 'good' hands is costlier than insuring 'bad' ones because some of the ten-value cards that can help the dealer make a blackjack are already out of play. No matter how we beat about the bush, insurance is a bad bet and as such, should be altogether avoided.
But There Are Exceptions to Any Rule
Should You Get Insurance In Blackjack For Real
If you take the time to examine a basic strategy chart closely, you will surely notice one strange phenomenon. The correct plays for splitting, hitting, standing, doubling, and surrendering against all possible dealer cards are listed while insurance is strangely absent from the chart. Why is that?
The reason is simple – basic strategy players should never take insurance because it is a negative-expectation bet in the long term. The odds of winning with this wager are slimmer than the odds the casino pays you at. Of course, there are exceptions to all rules, including this one because the insurance bet is susceptible to advantage-play techniques such as card counting.
Card counters keep track of the ratio of ten-value to non-ten-value cards that remain in the shoe or deck. This gives them the opportunity to identify the situations in which insurance becomes a positive-expectation bet. When the remaining ten-value cards outnumber the non-ten-value cards, a card counter is more likely to insure their hands against a dealer blackjack.
Additional ExceptionsConsider the following situation where you are playing a pitch game which uses a single deck containing 52 cards in total. During the first round after the dealer reshuffles, you take a look at your starting hand and see it consists of two small cards, say 6-3. You also manage to catch a glimpse of the hand of the other player sitting at the table and see it also consists of two small cards, 4-5. Your dealer is showing an Ace.
This means 5 cards with a value other than ten are no longer in play and the deck is now left with 47 cards in total. The odds of the dealer having a blackjack are now 31 to 16 because we have 31 non-ten-value cards and 16 ten-value cards. Respectively, the implied probability of you winning your insurance bet is 1 in 47, which corresponds to a likelihood of 2.13%.
After making $47 bets (of $1 each) worth of insurance, you will lose $31 and win 16 * $2 = $32.You have a net profit of $1 obviously while the house is at a slight disadvantage in this case, which is equal to $1/$47 * 100 = 2.13%. Insurance becomes a positive-expectation bet under these circumstances.
The Blackjack Even-Money Payout
The even-money payout is offered when players obtain a blackjack and the dealer exposes an Ace. Most inexperienced gamblers get confused when this happens and often end up asking fellow patrons or the dealer for advice. Should they accept the even-money payout or should they decline? And of course, the dealer would always recommend them to accept even money because this way, they will not lose anything during this round.
This is a bad piece of advice which you should never take. Here is the thing – the even-money payout is basically the same thing as insurance with a few tiny differences. The first difference is that this is a possible option only when the player has a blackjack and the dealer shows an Ace. Also, if you accept even money, the dealer would pay you out before he or she peeks under their hole card for a blackjack, unlike winning insurance bets which are paid after the peek.
The Even-Money Payout is Insurance in Disguise
Insurance and even money are the two sides of one and the same coin. Let's take a look at a few examples to see why. In the first scenario, you insure your blackjack for $10 but the dealer also has a natural. The two blackjacks push, so you end up winning $20 in net profits.
In the second scenario, you again decide to accept insurance but it turns out the dealer does not have a natural. You lose your $10 insurance bet but the blackjack earns you $30 (1.5 times your initial $20 bet) for a net profit of $20.
The third possible situation you can find yourself in is when you decline insurance but the dealer also ends up having a natural. The two blackjacks push again and you neither lose nor win anything.
And finally, we have the situation where you decline buying insurance and the dealer does not have a ten-value card in the hole. In this case, you earn $30 in net profits plus your initial $20 stake. It follows that if you always accept insurance on your blackjacks, you inevitably end up winning even money whether or not the dealer also has a natural.
By offering you even money before the dealer peeks for a blackjack, casinos simply spare you the hassles of insuring your hand. Inexperienced players reason accepting even money is a good alternative because if they decline and the dealer also ends up with a blackjack, the two naturals will push, i.e. they will not earn any payout.
Should You Get Insurance In Blackjack Winnings
They seem to believe a profit of one base-bet unit is better than no profit at all. What they fail to understand is that if they decline the even-money payout (or insurance for that matter) and the dealer does not have a ten-value card in the hole (which is more probable because some ten-value cards have already been removed from the shoe/deck), they miss out on the lucrative opportunity to earn 1.5 times their initial wager.
When you receive a natural in a six-deck game against a dealer's Ace, the dealer's hole card will be a ten-value one 95 out of 309 times, which corresponds to implied probability of 95 / 309 * 100 = 30.7%. It follows that when you insure your hand, you end up winning even money 30.7% of the time.
But There Are Exceptions to Any Rule
Should You Get Insurance In Blackjack For Real
If you take the time to examine a basic strategy chart closely, you will surely notice one strange phenomenon. The correct plays for splitting, hitting, standing, doubling, and surrendering against all possible dealer cards are listed while insurance is strangely absent from the chart. Why is that?
The reason is simple – basic strategy players should never take insurance because it is a negative-expectation bet in the long term. The odds of winning with this wager are slimmer than the odds the casino pays you at. Of course, there are exceptions to all rules, including this one because the insurance bet is susceptible to advantage-play techniques such as card counting.
Card counters keep track of the ratio of ten-value to non-ten-value cards that remain in the shoe or deck. This gives them the opportunity to identify the situations in which insurance becomes a positive-expectation bet. When the remaining ten-value cards outnumber the non-ten-value cards, a card counter is more likely to insure their hands against a dealer blackjack.
Additional ExceptionsConsider the following situation where you are playing a pitch game which uses a single deck containing 52 cards in total. During the first round after the dealer reshuffles, you take a look at your starting hand and see it consists of two small cards, say 6-3. You also manage to catch a glimpse of the hand of the other player sitting at the table and see it also consists of two small cards, 4-5. Your dealer is showing an Ace.
This means 5 cards with a value other than ten are no longer in play and the deck is now left with 47 cards in total. The odds of the dealer having a blackjack are now 31 to 16 because we have 31 non-ten-value cards and 16 ten-value cards. Respectively, the implied probability of you winning your insurance bet is 1 in 47, which corresponds to a likelihood of 2.13%.
After making $47 bets (of $1 each) worth of insurance, you will lose $31 and win 16 * $2 = $32.You have a net profit of $1 obviously while the house is at a slight disadvantage in this case, which is equal to $1/$47 * 100 = 2.13%. Insurance becomes a positive-expectation bet under these circumstances.
The Blackjack Even-Money Payout
The even-money payout is offered when players obtain a blackjack and the dealer exposes an Ace. Most inexperienced gamblers get confused when this happens and often end up asking fellow patrons or the dealer for advice. Should they accept the even-money payout or should they decline? And of course, the dealer would always recommend them to accept even money because this way, they will not lose anything during this round.
This is a bad piece of advice which you should never take. Here is the thing – the even-money payout is basically the same thing as insurance with a few tiny differences. The first difference is that this is a possible option only when the player has a blackjack and the dealer shows an Ace. Also, if you accept even money, the dealer would pay you out before he or she peeks under their hole card for a blackjack, unlike winning insurance bets which are paid after the peek.
The Even-Money Payout is Insurance in Disguise
Insurance and even money are the two sides of one and the same coin. Let's take a look at a few examples to see why. In the first scenario, you insure your blackjack for $10 but the dealer also has a natural. The two blackjacks push, so you end up winning $20 in net profits.
In the second scenario, you again decide to accept insurance but it turns out the dealer does not have a natural. You lose your $10 insurance bet but the blackjack earns you $30 (1.5 times your initial $20 bet) for a net profit of $20.
The third possible situation you can find yourself in is when you decline insurance but the dealer also ends up having a natural. The two blackjacks push again and you neither lose nor win anything.
And finally, we have the situation where you decline buying insurance and the dealer does not have a ten-value card in the hole. In this case, you earn $30 in net profits plus your initial $20 stake. It follows that if you always accept insurance on your blackjacks, you inevitably end up winning even money whether or not the dealer also has a natural.
By offering you even money before the dealer peeks for a blackjack, casinos simply spare you the hassles of insuring your hand. Inexperienced players reason accepting even money is a good alternative because if they decline and the dealer also ends up with a blackjack, the two naturals will push, i.e. they will not earn any payout.
Should You Get Insurance In Blackjack Winnings
They seem to believe a profit of one base-bet unit is better than no profit at all. What they fail to understand is that if they decline the even-money payout (or insurance for that matter) and the dealer does not have a ten-value card in the hole (which is more probable because some ten-value cards have already been removed from the shoe/deck), they miss out on the lucrative opportunity to earn 1.5 times their initial wager.
When you receive a natural in a six-deck game against a dealer's Ace, the dealer's hole card will be a ten-value one 95 out of 309 times, which corresponds to implied probability of 95 / 309 * 100 = 30.7%. It follows that when you insure your hand, you end up winning even money 30.7% of the time.
Should You Get Insurance In Blackjack Card Game
If you decline insurance, 30.7% of the time your blackjack will push with that of the dealer so you neither win nor lose anything. The remaining 69.3% of the time, you stand a better chance of winning 1.5 times your initial bet.
Should You Get Insurance In Blackjack Without
Therefore, the probability of you winning 1.5 times your bet when declining the even-money payout is higher than that of pushing with the dealer. You earn 1.5 * 69.3% = $1.03 per every dollar wagered on average each time you decline even money.
Should You Use Insurance In Blackjack
The bottom line is basic strategy players should never insure their hands or accept even-money payouts on their naturals. Blackjack is difficult enough to beat without players pouring some of their profits back into the casinos' coffers.