What is insurance in blackjack? Blackjack insurance is a side bet offered to the player if the dealer’s up-card is an ace, as insurance against the dealer’s hand being ‘blackjack’.
Blackjack insurance odds pay out at 2/1 and the maximum bet allowed is generally half of the player’s main bet.
This potentially offers the player the chance to break even on the hand in the eventuality that the dealer has blackjack, even if losing their main bet.
Insurance is offered before the dealer checks their hole card (the one not initially visible to players) and paid out should the hole card have a value of 10, making a two-card 21.
When to take insurance in blackjack
Insurance can seem like an attractive option for the player if the dealer’s up-card is an ace, as there is a close to a one-in-three chance their other card has a value of 10.
However, probability suggests that insurance is likely to be a losing bet in the long term, unless you are a very capable card counter.
You need the dealer to have a 10-value card as his hole card to win your insurance bet. Expert card counters can keep track of the amount that are still in the deck and ascertain when there are enough to make insurance the percentage call.
Why insurance should generally be avoided in blackjack
The following example shows why, even in a best-case scenario such as the one below, betting blackjack insurance is a losing strategy in the long run.
This hand is a best case scenario because neither you, nor any other players have 10-value cards in their initial hands. If this was the case, the chance of the dealer having a 10-value hole card (and therefore you winning your insurance bet) would be even lower.
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