Insurance Blackjack Basics
Insurance blackjack is a side bet in the game of blackjack that allows players to protect themselves against the dealer having a blackjack.
To take insurance, the player must bet half of their original bet. If the dealer does have a blackjack, the insurance bet pays out 2 to 1. If the dealer does not have a blackjack, the insurance bet loses.
When is Insurance a Good Bet?
Insurance is a good bet when the player has a low-value hand and the dealer has an ace showing. This is because the dealer is more likely to have a blackjack in this situation.
For example, if the player has a hand of 16 and the dealer has an ace showing, the player should take insurance.
When is Insurance a Bad Bet?
Insurance is a bad bet when the player has a high-value hand or the dealer has a low-value hand. This is because the player is less likely to win the insurance bet in these situations.
For example, if the player has a hand of 18 or the dealer has a hand of 6, the player should not take insurance.
Insurance Blackjack Odds and Payouts
In insurance blackjack, the odds of getting blackjack after taking insurance are 1 in 3. This is because there are 16 cards that can make a blackjack (four aces and twelve 10-value cards) out of the 48 cards remaining in the deck after the dealer’s first card is dealt. If the player takes insurance, they are betting that the dealer has blackjack, and they will be paid 2 to 1 on their insurance bet if the dealer does have blackjack. However, if the dealer does not have blackjack, the player loses their insurance bet.
The expected value of insurance is negative, which means that over time, the player will lose more money on insurance bets than they will win. This is because the player is betting against a 1 in 3 chance of winning, and they are only paid 2 to 1 on their bet if they win. The expected value of regular blackjack is positive, which means that over time, the player will win more money on regular blackjack bets than they will lose.
Payouts for Insurance Bets
- If the dealer has blackjack, the player wins 2 to 1 on their insurance bet.
- If the dealer does not have blackjack, the player loses their insurance bet.
Comparing the Expected Value of Insurance to the Expected Value of Regular Blackjack
The expected value of insurance is negative, while the expected value of regular blackjack is positive. This means that over time, the player will lose more money on insurance bets than they will win, while they will win more money on regular blackjack bets than they will lose.
Insurance Blackjack Strategy
Insurance is an optional side bet offered in blackjack that allows players to protect their initial bet against the dealer having a blackjack. The decision of whether or not to take insurance depends on several factors, including the player’s hand, the dealer’s upcard, and the house rules.
Factors to Consider
- Player’s Hand: If the player has a strong hand, such as a hard 17 or higher, they should not take insurance because they are likely to win anyway.
- Dealer’s Upcard: If the dealer’s upcard is an ace, the player should take insurance because the dealer is more likely to have a blackjack.
- House Rules: Some casinos offer insurance that pays 2:1, while others pay 3:2. The lower the payout, the less favorable it is for the player to take insurance.
Insurance Strategies
There are two main insurance strategies:
- Always Take Insurance: This strategy is based on the assumption that the dealer is more likely to have a blackjack than not. However, this strategy is not mathematically sound and will result in a loss over the long run.
- Never Take Insurance: This strategy is based on the assumption that the dealer is less likely to have a blackjack than not. This strategy is mathematically sound and will result in a profit over the long run.
Recommendations
Based on the factors to consider and the insurance strategies discussed above, here are some recommendations for when to take insurance:
- Always Take Insurance: If the dealer’s upcard is an ace and the player has a weak hand, such as a hard 16 or lower.
- Never Take Insurance: If the dealer’s upcard is not an ace or the player has a strong hand, such as a hard 17 or higher.
- Consider Taking Insurance: If the dealer’s upcard is an ace and the player has a medium hand, such as a hard 15 or 16. The decision of whether or not to take insurance in this situation depends on the house rules.
Insurance Blackjack Variations
Insurance blackjack encompasses a range of variations, each with unique rules and payouts that influence strategy. Understanding these variations is crucial for maximizing winnings.
Rule Variations
- Dealer Stands on Soft 17: In this variation, the dealer must stand on a soft 17 (an ace and a six), increasing the player’s advantage.
- Dealer Hits on Soft 17: Conversely, the dealer hits on a soft 17, reducing the player’s advantage.
- Double After Split: This rule allows players to double down after splitting, providing an opportunity to increase winnings.
- Surrender Option: The surrender option permits players to forfeit half their bet and end the hand if they have a poor hand.
Payout Variations
- Blackjack Pays 3:2: The standard payout for a blackjack is 3:2, meaning players receive $3 for every $2 bet.
- Blackjack Pays 6:5: Some variations offer a reduced payout of 6:5 for a blackjack, decreasing the player’s return.
- Insurance Pays 2:1: Insurance pays 2:1 if the dealer has an ace and the player chooses to take insurance.
Impact on Strategy
The variations in rules and payouts have a significant impact on strategy. For instance, when the dealer stands on soft 17, the player should be more aggressive with hitting, as the dealer is less likely to bust. Conversely, when the dealer hits on soft 17, the player should be more cautious with hitting.
Variations in payouts also affect strategy. A 6:5 blackjack payout reduces the player’s advantage, making it less favorable to take insurance. Similarly, a 2:1 insurance payout decreases the return on insurance, making it a less appealing option.
Insurance Blackjack in Online Casinos
Insurance blackjack is a popular variant of blackjack that is available in many online casinos. The rules of insurance blackjack are similar to those of standard blackjack, but there are a few key differences. One of the biggest differences is that in insurance blackjack, players have the option to take insurance against the dealer getting a blackjack. If the dealer does get a blackjack, the player will lose their original bet but will win their insurance bet. Another difference between insurance blackjack and standard blackjack is that the payouts for insurance bets are typically lower than the payouts for standard blackjack bets.
Tips for Playing Insurance Blackjack Online
- Only take insurance if you have a strong hand.
- Don’t take insurance if the dealer has a weak hand.
- Be aware of the payouts for insurance bets before you make a decision.
- Play at an online casino that offers fair odds for insurance blackjack.
