[dropcap]M[/dropcap]ost folks usually wonder why casinos issue insurance to gamblers. After all, it is all about gambling, and the player goes into it, knowing that there is a 50-50 chance of either losing or winning.
Becoming an astute gambler who keeps winning from time to time requires the knowledge of appropriately dealing with side bets. When you look at a table game from a fan’s perspective, you will realize that there is a single side bet that is king. This is blackjack insurance.
It is not only a brilliant way to have more options at your disposal, but some can go as far as being fundamental in attaining success. As such, this article is aimed at informing you about everything you know about blackjack insurance and its importance.
What Is Blackjack Insurance?
Blackjack insurance is a side bet variant that only pays off upon the dealer showing a blackjack. The hang of it is that you need to exercise accurate timing, or you lose your bet. Of course, it is a recurrent theme because online blackjack mainly entails schedule, i.e., when to hit and when to hold.
For this reason, insurance is not an extraordinary thing. If played in the right manner, such a bet can offer an amazing consolation prize because your primary wager will become worthless in most cases when the dealer pulls out a blackjack.
You might be wondering, “How high is the price?” Blackjack insurance usually pays two to one. This is just the ideal amount to cater for your main bet if you lose against the natural 21.
What’s more, you will still win an extra prize. However, before delving into a conclusion on how profitable the side bet is, let us take a look at the winning odds.
How Does Insurance in Blackjack Work?
If the dealer’s top card is a ten or an ace, you are allowed to place your insurance wager. After that, the dealer checks their face-down card to observe whether it accomplishes a blackjack. This is referred to as a “peek.” It functions to save a player from losing more cash in the same round.
In case you take the bet, and the dealer turns over a 21, it is highly likely that you will lose the main chance, but at least you will win an insurance wager. This is the main reason for taking blackjack insurance.
According to Lucian Marinescu at OnlineCasinoGems, “many online casinos have introduced blackjack insurance as a buffer that prevents players from heavy losses.” As such, the player becomes encouraged to continue gambling and stand higher chances of winning major jackpots.
A more precise definition of insurance is an optional bet that, if won, pays twice the amount you wager. As seen on Gambling News Magazine, there are minor differences between online and land-based casino blackjack games. The choice depends on the player’s preferences.
Even for players who are not good at logic and mathematics, it is obvious that for blackjack insurance to yield results in your favor, you must be right in every other guess, or even better. As such, the main question is, “What is the possibility of making the right guess?”
The dealer’s odds of making a blackjack are approximately 9:4. It means that if you make a bet in tandem with the casino’s policy, you will have placed yourself in a somewhat disadvantageous position. It is for this reason that a gambling guru would never consider blackjack insurance as a good idea.
One must have a complete awareness of the number of high cards remaining in the shoe to determine whether or not to place a bet. This is arguably the best technique to win while on blackjack. It is also referred to as card counting. However, in general, you must factor in a myriad of issues to attain maximum value from your insurance side bet, and this is a preserve for the elites.
When Can I Buy Blackjack Insurance?
One common misunderstanding is that it is advisable to always tap on the insurance bet in case it offers the highest odds. Players who have an advantage are the most likely to reap the most benefits from insurance, and there is a good reason for this.
Being able to monitor the cards in play and effectively assess the probability of a natural blackjack emerging is all you need to actualize this insurance. This comprises one of the merits of being an expert at counting cards.
Assuming that you lack any knowledge on card counting, you need to look for the hands that are held by the other players (in case of any). After that, take a look at your hand then make a count of all the 10s you can see on the table. In case you do not see any, or you encounter only once, the probability that the dealer will turn over a 10 is considerably high.
A Verdict on the Importance of Blackjack Insurance
For card counters, blackjack insurance is possibly a brilliant type of play. The reason is that it amounts to over 30 percent of all possible gains. Nevertheless, this can quickly make the casino realize that you are an expert in the game.
Therefore, you can ignore the bet & choose insurance when necessary. This strategy is particularly useful when protecting highly staked values.
When you inquire from any counter, and they will always tell you that blackjack insurance has a higher value in the single deck compared to numerous decks. For one, it is easier to count single decks. For another, the house edge is approximately 5.88 percent in most single decks in contrast to 7.47 percent in eight-deck games.
SF Gate, however, recommends that it’s best to avoid insurance bets since the bets will lose money in the long run. It’s suggested that insurance in blackjack is almost always a bad investment.
The Bottom Line
Most experts recommend using the 10-count raised to the power of three to estimate your advantage of correctly making a blackjack prediction. There is always an ideal time for insurance that enables you to get something from the gamble if you are attentive enough.
