Is Blackjack Insurance Always a Bad Bet? – Blackjack betting is a controversial topic. While new players may find this a safer bet, more experienced players know it is not a good bet.
What is Insurance in Blackjack?
Insurance in blackjack refers to the side bet offered to the player when the dealer’s up card is an ace. Now that the dealer has higher odds of getting a blackjack or 21, players can make insurance side bets to cover them.
That is, in addition to your main bet against the dealer, with this one insurance bet, you will also be betting that the dealer does have the advantage in the game to break even if you lose on the main bet. This side bet usually pays 2:1.
Blackjack Rules and Guidelines
There’s a reason why insurance is called a sucker bet. But don’t feel like a fool. The following tips will show you when to place these insurance bets and why you should avoid them. First, let’s look at the rules in insurance betting.
Insurance Side Betting Rules
The maximum bet for insurance is usually half the main bet.
The blackjack table has a separate section for side bets where players must place their side bets before insurance is covered.
If the player has blackjack and they also win insurance, the payout is 3:2.
A player has the option of taking even money and forfeiting the 3:2 blackjack bonus if they wish to win their initial bet.
In online blackjack games, a pop-up notification will appear asking the player if he wants to place an insurance bet.
Is a Blackjack Insurance Bet Always a Bad Bet?
When Should You Place an Insurance Bet?
There are some situations where an insurance bet in blackjack might be a pretty good idea. Some players place insurance when they already have a blackjack and want to make sure they profit from it in the event of a draw. In the event of a draw, which is rare, they will be paid 3:2 instead of winning nothing. Additionally, insurance bets will also be beneficial when you have placed large bets to achieve your profit goals.
And you will also plan to take even money if the side bet fails. Advanced card counters who play the game live can also use insurance bets because the strategy and predictions are much more precise. However, even in a seemingly ideal scenario, insurance betting is still not a profitable option in the long run.
Why You Should Avoid Insurance Betting
The reason why insurance is not recommended in blackjack is because of the odds of success. The dealer’s odds of getting blackjack are only 30%, which means you have a much higher chance of losing than winning. Although this bet may work in your favor in special circumstances, it is a bad strategy if used consistently on multiple bets.
Insurance also wreaks havoc on your bottom line. If you play blackjack because of its low house edge, this bet may be a problem. Insurance bets, especially in games with more than six decks, increase the house edge from 2% to at least 7%. If you play online, then almost every game has between six and eight decks.
While insurance can minimize your losses if the dealer is strong enough, the odds are always against you. If playing strategically and paying attention to the numbers, it is best to make the insurance side bet a rare blackjack move.