Blackjack is a complete skill game in casinos. At kiva.org, you can play it for real money. Still, it’s not easy to win this game. When playing blackjack, many players shy away from the insurance bet. They see it as a bad bet and believe they are throwing away their money by making this wager. However, if you understand how blackjack insurance works, you may find this is not the case. In today’s post, we will share the ins and outs of the insurance bet in blackjack and help you decide whether or not it is a wise investment for you.
The Mechanism of an Insurance Bet
In blackjack, an insurance bet is made when the dealer’s upcard is an Ace. The player bets that the dealer has a ten-value card in their hole card.
This side bet pays out at two-to-one odds if the dealer indeed has blackjack. The player loses their insurance bet if the dealer does not have blackjack. While this may seem like a good deal, the reality is that the odds are not in the player’s favor when making an insurance bet.
The probability of the dealer having blackjack when they show an Ace is only about 31 percent. This means that for every 100 hands played, the player will only win 31 of them. The other 69 hands will be losses.
Reasons to Make an Insurance Bet
Despite the odds being against the player, there are certain situations when making an insurance bet may be a wise move. One of these is when you are counting cards and have a high count. If you know that there are more ten-value cards in the deck, then the dealer’s probability of blackjack increases. Another situation where making an insurance bet may be a good idea is when you have a large stack of chips and can afford to lose a few. However, if you are playing with a small bankroll, it is best to steer clear of this side bet.
The Odds of Insurance Bets
As we mentioned, the odds of winning an insurance bet are not great. The probability of the dealer having blackjack when they show an Ace is about 31 percent.
This means that for every 100 hands played, the player will only win 31 of them. The other 69 hands will be losses. These odds can be improved slightly by counting cards, but the reality is that the insurance bet is still a bad bet for the player in the long run.
Based on the information we have discussed, it is clear that insurance is not a good bet for the player. The odds are against you; in the long run, you will lose more money than you win. There are some situations where making this side bet may be advantageous. Still, generally speaking, it is best to avoid it. If you are looking for a way to improve your blackjack game, we recommend focusing on basic strategy and card counting instead. These proven methods will give you a better chance of winning in the long run.