What Does Insurance Do?
Blackjack players have many options when it comes to betting on the hand they want to play, but one of the most popular is a side bet called insurance. This bet is usually offered when the dealer has an ace up, and it’s a wager that the dealer will have blackjack. If you win, you’ll get your insurance bet back, but if you lose, you’ll be out even – or at least less than your original bet.
What Is Insurance?
In most cases, the odds of winning insurance are not very good, and if you’re a skilled blackjack player, you can’t afford to take it. This is because insurance has a negative expected value, which means that you will lose more money in the long run than you’ll win.
The main reason you should not take insurance is that it has a higher house edge than most other casino games. In fact, it’s considered a “suckers bet” that favors the house and is rarely a profitable strategy.
Insurance in Blackjack: When to Use It
While it is not a strategy, insurance is sometimes used by players who have strong hands in blackjack. This strategy is used because it can help them to avoid a big push against the dealer’s blackjack.
Some experts argue that it’s a great way to reduce the variance of a blackjack game, smoothing out the natural swings that luck can bring. However, if you’re not a card counter or haven’t played for very long, this may not be an option for you.
This is because you can’t use insurance to protect your main hand and lose the whole bet. It will only pay out if you don’t have a blackjack, which is not very likely to happen unless the dealer’s up card is an ace.
Aside from being a strategy that’s only worth using when you have a strong hand, there are other reasons why it isn’t a good idea to use insurance. It’s a bet that the dealer’s next card will be a 10, which isn’t something you want to do.
If you have a strong hand, it’s probably a better idea to play Even Money instead of Insurance. This is because it pays 3 to 2 if you fade the dealer’s blackjack, whereas insurance only pays out 2 to 1.
The most common reason for people to take insurance is when they think the dealer’s up card is going to be a 10. While this can be a sound reasoning, there are many instances where players make this decision wrong, which can result in serious losses.