Insurance in Blackjack
Insurance in Blackjack is one of the sucker bets that inexperienced players lose money on. It is a mathematically incorrect bet and is easy to avoid. There might be some cases where it may be in your interest to purchase insurance, but if you decline insurance every single time you will be better off for it. Later in the article I will provide a scenario where it could be of some use to you.
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What is Insurance in Blackjack?
Insurance in Blackjack is the option that is given to you when the dealer is showing an Ace. You will be given the opportunity to make a bet that is half the size of your original bet. If you do choose to take insurance you are betting that the dealer has Blackjack. If you win you will break even because it is paid out at a rate of 2-1. If you lose, you will be forfeiting that bet and may well be losing the initial bet as well.
How to Take Insurance in Blackjack
If you are playing Blackjack at a live casino then it is a little different than playing Blackjack games online. When the dealer is showing an Ace they will say “insurance open.” When this happens it is time to place your bet on to the insurance section of the Blackjack table. When everyone has finished making their bets the dealer will say “insurance closed” and will proceed with the hand.
If you happen to be playing online Blackjack then things are easier for you. When the dealer is showing an Ace the option to purchase insurance will pop up on the screen. The software will automatically recognise that it is time to offer you insurance. All you have to is click the “Yes” or “No” button to make your decision. Again, this is all automated so you don’t have to worry about anything.
Why You Shouldn’t Take Insurance
There is one clear reason why you shouldn’t take insurance in Blackjack. That reason is because it is mathematically incorrect. When you do the sums you can recognise the fact that you are worse off if you take up this option.
There are 9 cards in the deck that don’t give the dealer Blackjack and only 4 that do. Even though it is paid out at 2:1 you are still losing money in the long run. That is why you should never take insurance if you can avoid it.
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Times When You Can Take Insurance
Blackjack players can have a hard time deciding whether or not to take Blackjack when they themselves have Blackjack. The reason for this is because they see insurance as a win/win situation. If the dealer does have Blackjack then they win the insurance bet. If the dealer doesn’t have Blackjack then that is paid for by the 3:2 payout that the blackjack provides them.
Even though the above scenario makes taking insurance sound like a good option; it really isn’t. You are still making the wrong decision based on the odds so you should try and avoid it if you can.
The only time I would advise making this play is when you have a large bet on the line and you want to protect yourself. If the bet is much larger than normal and is a large portion of your bankroll than it may be an option for you. Other than that I cannot see another scenario where you should take insurance in Blackjack. If you can remember never to take insurance then you have a much better chance of winning at Blackjack.
