Insurance in gambling? How possible is that? Confused? Just like you, there are folks who wonder how insurance and blackjack end up in the same sentence.
You see, the reaction is expected, especially when you consider gamblers when they wager their bets know they have a 50-50 chance of winning or losing. So, hearing there’s actually a way to take blackjack insurance takes them by surprise.
But before diving into how blackjack insurance works, let’s first explain what blackjack insurance means.
What exactly does blackjack insurance mean?
For most people, because of the word “insurance” in the name, they think the casino is protecting the players. That’s actually a wrong way to look at this.
Blackjack insurance is a side bet that becomes available only when a dealer is showing an Ace. You can only place a side bet before the dealer show their hole card.
Usually, when an ‘insurance’ becomes available, the dealer will announce the option to players on the table, or if you are playing online, a pop-up button will appear which you can use to play your side bet.
Think of the blackjack insurance as a consolation prize since most times when the dealer pulls out a blackjack, it often means, your primary bet will become worthless.
How does blackjack insurance work?
First, you will want to know when to place an insurance bet. An insurance is available when the dealer’s top card is a ten or an ace. Keep in mind though that this side bet is often played out independently of the main hand.
Side bets pay out 2:1, which means, for every $1 you bet, it pays out $2. An insurance in blackjack is won when the dealer peeks the covered card and it turns up a 10 or a blackjack.
If, however, the covered card does not turn up a 10 or blackjack, the insurance is lost and the game proceeds as normal.
How much do you need to bet to play Insurance blackjack?
It actually depends on the particular casino policy where you are playing. In some game house you are expected to bet at least half of your original bet while others don’t have a limit on how much you can bet.
For instance, Unibet Casino Lobby has a good offer for blackjack lovers which you can take advantage of like the Live Blackjack at Unibet where you watch real events unfold ultimately providing assurance of transparency, legitimacy, and fairness.
Why take insurance in Blackjack?
Most casinos offer players insurance to help minimize their losses while at the same time, increasing their odds to win. Think about it, if you know you have another option to win, in addition to your primary wager, you will be definitely encouraged to continue gambling since you stand a higher chance of winning major jackpots.
When taking out a blackjack insurance, you may want to make a calculated guesstimate. A nifty trick to ensure you have a good chance at winning the insurance is to count cards. You will need a fairly accurate idea of the number of high cards remaining in the shoe to decide whether you stand a better chance with an insurance or not.
Keep in mind though that the dealer’s odds are 9:4 which means by taking out the insurance, you are putting yourself in a disadvantageous position. However, with a fairly good card counting, you can be sure to win up to 30 percent of all possible gains.
Many blackjack experts advise players to stay away from playing insurance bets, since the bets will lose money in the long haul. But, if you can master the card counting trick using the 10-count raised to the power of three strategy, you can surely estimate correctly your chance of making a blackjack.
Torsi is a professional blogger.