Insurance is a side bet in blackjack that is distinct from your initial wager. Offered exclusively when the dealer's upcard is an ace, it serves as a safeguard against an opponent's blackjack. Unlike blackjack's general rules and methods, many players are not acquainted with the insurance bet that the game provides. For those who aren't familiar with the game, you will find all the details regarding the side bet and its conditions here in this article.
What exactly is insurance in Blackjack?
It is distinct from the remainder of the players' wagers and increases the casino's profit margin at blackjack tables. To insure their hand, players must deposit a wager corresponding to 1⁄2 of their initial wager in the insurance section. Players can avail the benefit of the insurance right after they collect their first 2 cards, and the dealer's upcard must be an ace, as previously stated.
At this point, the dealer will inquire as to whether any of the players would want to purchase insurance. Before the dealer sees their hole card (the one not visible to the players), insurance is given, and it pays out if the hole card has a value of 10, resulting in a two-card 21. Thus, every player should thoroughly evaluate such a scenario in advance to ensure that they are as informed as possible.
When should a player opt for the insurance bet?
You should try to avoid taking the insurance bet in blackjack unless you know how to count cards. A short glance at the arithmetic underlying the wager reveals that you are statistically going to lose money by opting for the insurance bet.
Dealing with a blackjack has a 9 to 4 chance of being successful. You will lose more than 50% of your insurance bets on average, and since the odds are 2 to 1, it is a risky strategy.
The lone exception is skilled card counters who use advanced blackjack methods to keep count of how many 10 value cards are remaining in the deck. The higher the number of 10 and face cards in the deck, the more the dealer hitting the blackjack is. Taking insurance might be a beneficial gamble if the count is accurate enough. It's critical to keep in mind that this only applies to experienced players and mostly in offline casinos because card counting is not possible in online casinos, which have automatic shufflers to deal with the cards and play with multiple decks single time.
What are the insurance bet odds?
An insurance bet's approximate odds of winning are not always the same. The odds are determined by the number of decks used in the gameplay and the number of 10 value cards dealt with thus far.
Due to their ability to keep track, card counters can spot when the conditions are ideal for a beneficial insurance bet. When it comes to insurance, though, the odds are often always stacked against the players. This is particularly true in online blackjack, where the decks are reshuffled before each hand.
Insurance is not recommended, as the chances are worse since the number of decks played in the game increases. In a one-deck game, the house edge on the insurance bet is roughly 5.8%. When the game uses eight decks, the percentage rises to about 7.5%.
Insurance rules in blackjack
Players must observe certain blackjack regulations when placing an insurance bet. There can be no insurance bet unless the dealer has an Ace as their upcard. The dealer will present players the opportunity of placing an insurance bet if an Ace appears. Before the dealer examines the hole card, the players must determine whether or not to take the offer. Otherwise, it will expire.
Variations in insurance rules
Modified versions of the insurance bet were added to make things even more exciting. However, because these are uncommon, we shall simply touch on the subject in the following lines.
- Full-amount insurance - enables players to put an insurance bet with the same value as their original stake.
- Insurance against ten - Blackjack fans bet on the croupier's hole card being ten.
- Insurance Blackjack only is exclusively available in Europe - The casinos there allow players to purchase insurance that protects only their hand if the dealer does have a blackjack.
- Surrender allowed after insuring - this is a rule variant of the insurance bet that is extremely paradoxical. Players say that insurance is essentially a side bet, while casinos assert that players who will take the insurance bet can never surrender. This option, in a word, allows you to insure a game before surrendering it.
Why should you avoid taking insurance in blackjack?
Take, for instance, in a one-deck game, you are playing alone versus the dealer, and neither of the cards in your first hand has a worth of ten. As a result, 16 of the other 49 cards have a value of 10, ensuring that your £10 insurance bet has the best chance of winning. Regardless, your position is one that is unlikely to be sustainable in the long run. The £10 insurance bet wins on average 16 times and loses 33 times. Each win is worth £20, for a sum of £320.
Nonetheless, the 33 failures at £10 each leave you with a total loss of £10. Because neither you nor any of the other players possess 10-value cards in their starting hands, this is the best-case situation. If this were the case, the odds of the dealer holding a 10-value hole card (and thus earning your insurance bet) would be substantially slimmer.
Final thoughts
Before making a decision on insurance, players should consider the reasons listed above as well as the advice we provided. If players want to win, they should be as informed as possible before they begin the game. You must understand what you are up against, or you risk making poor decisions that will cost you more money in the long run.
If you are a casual player who wants to stick to basic tactics, you should avoid taking insurance on any hand, including blackjacks. This bet should only be considered if you have mastered the art of card counting. This will help you to recognise when the deck or shoe composition merits insuring your hands.