Insurance Meaning Blackjack – We define Blackjack insurance and cover the main reasons why players use it. You might think this is a great idea, but wait until you read our blog! The data speaks for itself.
An insurance bet is a bet that the dealer has blackjack. This is a side bet that is offered only if the dealer’s up card is an ace. You have to bet half of your initial bet, and if the dealer actually has a blackjack, your bet wins at odds of 2:1.
Insurance Meaning Blackjack
While “insurance” may sound like you’re insuring, protecting, or otherwise increasing the odds of your first bet, it has nothing to do with it. It’s a completely different bet. You bet that the dealer has a 10 or an up card that may or may not help you break even.
The Objective Of Blackjack
Blackjack insurance is offered for a limited time after the dealer shows an ace. Here’s how to find out.
Let’s say you insure a £10 bet. This means placing an additional £5 bet on the dealer’s hand. Therefore, one or both bets may lose. There are 3 scenarios:
The main objective of blackjack insurance is profitability. However, most players make this bet for one of the following reasons:
Players sometimes take insurance out of confusion, faulty reasoning, or a complete lack of statistical training. If you want to succeed playing blackjack, you cannot do so without a good understanding of the game.
What Is Blackjack Insurance?
For example, it is assumed that players are misled by the name of the bet, do not understand the rules and meaning of blackjack insurance. Conceptual confusion can lead to silly mistakes, and using insurance as a betting strategy can itself potentially save you money.
Beginners would rather secure a pair worth 20 points than a soft 7. They can trust a hand that gives them a strong position. So, they take insurance. It’s really strong because it’s close to 21, but it’s not one to secure.
Remember that you are not insuring anything. Your bet on the dealer’s opening card is a 10 value card. If you have two 10-point cards, the last thing you want to do is bet that the dealer has another. Even more so when you consider that the house edge on this bet is almost 6%.
The fact that you have 2 of them greatly reduces the chance that the dealer might have a 10 face card.
Blackjack: How To Play The Popular Blackjack Side Bet
Generally, the dealer has a 33% chance of hitting blackjack. With every 10 games dealt, their chances of a blackjack drop and so do your chances of winning insurance. Therefore, this betting pattern cannot be followed.
Card counters can adjust this side bet to their advantage. They can take advantage of this by employing different strategies to distinguish when a 10 face card is about to come. If you do a little research on the subject, you will see that many use the Hi-Lo system.
The Hi-Lo system assigns a value to each card to make card counting easier. Cards 2 through 6 are given a +1 value. 7, 8 and 9 are valued at 0. Cards from 10 to King are valued at -1. You have to focus on the table and add or subtract the corresponding number. Depending on the current count amount, players take different actions in the game, such as buying blackjack insurance, hitting or standing.
We will not go into the details of card counting. Advanced blackjack strategies cannot be summed up in a few words. However, these systems essentially count the 10 value cards on the table and evaluate the remaining cards in the deck.
When To Bet High In Blackjack
Insurance becomes a good bet when more than 50% of the remaining cards are likely to be worth 10 points.
If you get a successful card read, you may be banned because you are a threat to the house. This rule also applies in live casino blackjack. So, if you want to use this technique, handle it with care.
Some players swear by the value of insurance. However, the long-term expected value is negative. A 3 to 2 blackjack payout is standard. So you can win £15 with a £10 bet.
On average, the dealer hits blackjack exactly 30% of the time when he shows an ace. This means that you will lose more than 50% of your insurance terms.
What Does Insurance Mean On Blackjack
You can lose both your initial bet and your insurance bet. Therefore, placing too many insurance bets will lose money in the long run.
The only way to get both an initial and an insurance bet is to play a variation where players win blackjack ties. An example might be Super Fun 21. In this variant, the blackjack player always beats the dealer.
There are several other more affordable betting options available on various table games. For example, if betting on individual roulette wheel numbers yields a negative expected value, then statistically it is a better bet than taking out insurance in blackjack. Therefore, you may want to consider other options before making a decision.
Other bets share similarities with insurance, but a blackjack expert knows the differences. Discover how these side bets work and never fall into casino traps again.
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It is a known fact that the house edge in blackjack starts at 0.5%, which is one of the lowest house edges in the industry. This is the ideal level and few reach it. However, you should at least try to apply a basic strategy derived from mathematics to increase your chances.
There is another possibility. Let’s call this the fourth scenario where you are dealt a blackjack hand right from the start while the dealer has an ace. In this case, most will say even take the money because it’s a sure win.
In such situations, the dealer even offers you money for Peeking on his opening card. You can choose from:
Remember that blackjack pays 3:2. This means that for a £20 bet you will be paid £30. Even money bets pay 1:1 so you’d win £20.
Blackjack Game Logic Basics — Built With React Hooks
Most players believe that even money – and insurance bets – will give them a safe win. But that’s not quite the case.
Why would the casino pay you to double your bet when the dealer might even have blackjack hidden under the playing card? This situation would be a “push” and you have returned your bet so they don’t have to pay you anything.
The casino does this because it is more likely that the dealer’s up card is not a 10-value. So your blackjack hand is worth more than what you originally bet.
Most casinos use 6 decks. That’s 312 cards. 96 of them are worth 10 points. Let’s say you have blackjack and the dealer has an ace. This leaves a deck of 309 cards, 95 of which are 10-rated. This brings us to the same percentage as before. 95 out of 309 means roughly 30%.
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The dealer’s chance after hitting blackjack is 30%. This means that 70% of the time your blackjack hand will be a winner and you can walk away with a full payout of £30.
Even if there’s a 30% chance, you’ll put in the effort and your commitment will be restored for the other 70% of winning situations. This means that in the long run it is more profitable even not to take money.
Online casino sites offer you the opportunity to practice your blackjack skills by playing with a New Zealand welcome bonus. But be aware that some won’t allow you to wager your bonuses in a Live Casino. Alternatively, you can invite a few friends over and replicate the casino experience right in your own home!
Another side bet that is similar to blackjack insurance, but can be useful if you implement a basic strategy. Compared to the other two, it can get you out of tight situations.
When To Double Down In Blackjack (& When Not To)
The surrender rule in blackjack is not the most popular in land-based casinos. However, you will find a huge number of live dealer rooms and other table games that accept it at the best online casinos in NZ. Just type “Blackjack Surrender” into the search bar. But first, it would be wise to fully understand what surrender is in Blackjack.
Basically, surrendering blackjack allows you to give up your cards and half of your original bet if the dealer has an ace and is going to check his other card for blackjack.
Typically, the dealer has a 30% chance of hitting blackjack. But what if you have one of those hands that just looks wrong? For example, 16. Having 16 against the dealer’s ace is one of the worst situations to be in because:
Either way, there is a high probability that you will lose. Therefore, the surrender side can bet on a smart move if the situation calls for it. The blackjack insurance bet seems to confuse most players. They either don’t understand what the bet is or worse, they always make an insurance bet when the dealer offers. This article demystifies this betting and advises you on whether you should do it.
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After the first two cards are dealt and the dealer’s up-card is an ace, insurance
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