Blackjack Insurance Explained
Whether you’ve played blackjack online at a land-based casino or at a crypto gambling site, you must have encountered one of the modern additions to the game – Blackjack insurance bet. If you are unfamiliar with the concept of insurance in Blackjack, this guide will provide you with all the necessary information you need.
What Is Insurance in Blackjack?
A blackjack insurance bet is a side bet in the game of blackjack that you can take when the dealer’s upcard is an Ace. The payout for the blackjack insurance side bet is 2:1 if the dealer has a natural blackjack (a total hand value of 21).
If the dealer’s up card is an Ace, theoretically, there is a good chance that their hidden card is one that will make the total hand value reach 21.
How Does Insurance Work in Blackjack?
If you decide to take an insurance bet and protect yourself against a dealer’s blackjack, then you can expect half your original wager for the insurance bet to return. On the other hand, if the dealer does not have blackjack, you will lose the insurance bet, with the game continuing as usual.
To buy insurance bets, you will need to place a bet equal to half of your original bet on the insurance line that you can find on the table in the blackjack game.
Note that you will have the chance to buy insurance once before the first player’s turn to act in the round. If you decline, then there are no second chances – taking insurance bets is not allowed when it is your turn to play in the round.
What Are the Odds for Insurance Bets?
As stated beforehand, if the dealer has a blackjack, then the insurance bet will pay out 2:1. As for the odds themselves, with an Ace up-card, the probability of the dealer having blackjack is 31.5%, so making an insurance bet will see you theoretically lose money 48.7% of the time and win 31.5% of betting rounds.
As you can see, the house edge of an insurance bet is not inclined towards the player, so generally, experts will advise you to use a blackjack basic strategy when playing the game instead of relying on insurance.
When to Take Insurance in Blackjack
As you can probably guess by now, taking insurance while playing blackjack can be quite a risky move, but it can also serve as a great tool to protect yourself against the dealer’s blackjack and win money along the way. For you to make a better-informed decision about utilizing this side bet, here are a couple of scenarios where insurance can be a good bet:
When the dealer shows an Ace
The first and most common scenario of taking insurance during your online gambling endeavor is when the dealer shows an Ace, as this way, you will at least break even if the dealer has a blackjack. Even if you lose the insurance bet, you still have a chance to win your online blackjack hand.
When you have a low hand
A low hand is generally valued at 16 or less, and in this scenario, it is best recommended you take the insurance bet to try and minimize your losses.
When you play high-stakes games
If you are playing blackjack with larger sums of money, blackjack insurance can be a good strategy to slightly protect your bets.
When taking part in tournaments
Insurance can be a good blackjack strategy in certain scenarios of blackjack tournaments where you need to take some risks to increase your chip stack.
Risks of Taking Insurance in Blackjack
Even though, on the surface, insurance bets can seem like an appealing proposition for your crypto casino gambling journey, there are several associated risks with using this option on the blackjack table:
- Cost: Insurance betting can be quite costly, as the chances of the dealer having blackjack are slim at best.
- Limited protection: When you take the insurance side bet, you protect yourself against the dealer’s blackjack, but if you have a good hand, you will see a smaller payout at the end of the round.
- Out of your control: Buying insurance is not a good way to make profits as you essentially bet on a scenario that is out of your control. That way, insurance bets are more of a gamble rather than a profitable strategy.
Is Insurance for Blackjack a Good Strategy?
Overall, experts in the Bitcoin blackjack game will say that insurance is a sucker bet, as the house edge and the odds are not in your favor. In most cases, if you want to maximize your chances of winning, insurance is a bad idea. Instead, we suggest you focus on other side bets and the basic strategy.
FAQs
Why is insurance in blackjack offered?
In theory, blackjack insurance protects you against the dealer having blackjack. In this scenario, you will receive twice the amount of your original insurance bet.
Is insurance a good or bad bet?
On the surface, blackjack insurance seems like an appealing idea, but there is much more to it. This scenario will increase the casino’s house edge, so in the long run, you will undoubtedly lose more than you will win.
Are there other side bets to place in blackjack?
Yes, as a registered crypto player, you will get access to a wide range of side bets, such as 21+3 and perfect pairs, just to name a few.
