Do you know what does insure mean in blackjack exactly? Well, nowadays, you can insure anything, including your home, car, boat, and even your life. But, do you know if you also can get insurance for a blackjack game at a casino?
Things are a bit different when it comes to the latter insurance. Manu players dispute the idea of insuring bets, yet few can deny the cruciality of insuring assets.
The more time you spend around bettors, the more you can realize that insurance is undoubtedly a contentious topic in blackjack. That suggests it’s time to dig deeper and find out what is insurance in blackjack.
Understanding What Does Insure Mean in Blackjack
To answer the question about what does insure mean in blackjack, it is a type of side bet that allows you to make in blackjack. In the blackjack game, players are allowed to buy insurance if the dealer’s up-card is an Ace. The insurance bet is generally offered at a payout of 2:1 if the dealer’s second card is a 10 or face card.
In other words, if the dealer has a blackjack hand, the player receives twice the first insurance bet. If the dealer doesn’t have a blackjack hand, the insurance will lose and the game will continue as normal.
Well, the opinions on blackjack insurance are divided in the online gambling community, as many experienced players think that it is better to depend on a solid blackjack strategy. It is common as blackjack insurance odds are not usually in the player’s favor.
How Does Blackjack Insurance Actually Work?
The main objective of what does insure mean in blackjack is to protect the player, in case the dealer has a blackjack hand. Here is how blackjack insurance actually works:
- Before players can proceed with their hands, the dealer will give them a chance to buy blackjack insurance if their face-up card is an Ace.
- To buy blackjack insurance, the player has to place a bet on the insurance line that is spotted on the blackjack table. The insurance bet might be up to half the player’s first bet
- When the dealer has a blackjack hand (totalling 21 with only two cards), the player who placed an insurance bet wins a 2:1 payout. It means the player receives twice the amount of their first insurance bet
- From what does insure mean in blackjack, if the dealer doesn’t have a blackjack hand, the player will lose the insurance bet, however, the game will continue. The player still be able to win or lose their first bet based on the result of the game
Pros and Cons of Blackjack Insurance Betting
Before you head to the casino, it is important to consider the advantages and disadvantages of what does insure mean in blackjack. Let’s take a look below:
Pros of Blackjack Insurance
Blackjack insurances at least has 2 advantages, such as:
1. Will Protect Against the Dealer’s Blackjack Hand
The main advantage of insurance betting in blackjack is that it will protect the player’s first bet when the dealer has a blackjack hand.
2. Extra Payout
When the dealer doesn’t have a blackjack hand and the player has insurance, the player will get a double amount of their insurance bet, offsetting the loss of their first bet.
Cons of Blackjack Insurance
However, we found at least 3 disadvantages of what does insure mean in blackjack, such as:
1. Negative Expected Value
The odds of the dealer having a blackjack hand are less than the odds of the dealer not having a blackjack hand. Therefore, taking out insurance on every hand will result in a profit loss over time.
2. Higher House Edge
By offering blackjack insurance, the casino will increase its overall edge. It means that players who take the insurance bet are effectively giving the casino more of an advantage.
3. A Distraction from Basic Strategy
Many experienced players consider that insurance to be a distraction from blackjack strategy. When players focus on their own hand based on the blackjack basic strategy, they will have more winning chances over time.
Odds for Blackjack Insurance
The chance of winning of what does insure mean in blackjack are determined by the number of decks used and the specific rules of the game being played. If the dealer’s up-card is an Ace, the odds of having a blackjack hand are around 9:4, or approximately 31%. It means that around 4 times out of every 13 times the dealer shows an Ace, they will have a blackjack hand.
On the other hand, the reward for an insurance bet is normally 2:1. It means that when the player bets $10 on insurance and the dealer has a blackjack, the player receives a $20 payout. The expected value of the insurance bet can be decided by multiplying the likelihood of the dealer having blackjack by the insurance bet payout.
In that case of what does insure mean in blackjack, the expected value will be negative, implying that the player will lose money over time on this type of betting.
For instance, when only a deck of cards is used, the dealer’s chance of having blackjack is 4.83%. When the insurance payout is 2:1, the expected value is -8.75%. This shows that the player will lose 8.75 cents for every dollar bet on insurance.
When Should You Take Insurance in Blackjack?
Let’s assume your strategy is to get blackjack insurance. In that case of what does insure mean in blackjack, knowing the best time for that strategy to payout is important.
For instance, when you know how to count cards and have a high count, you might have a better chance of determining if the dealer has a blackjack. Insurance is a great idea when you think the odds are in your favor.
Moreover, when you play a high-stakes game and bet a big sum of money, you might expect to take insurance to protect your bet. When you play in blackjack tournaments, you might have to take risks to boost your bet and advance to the next ground.
Buying insurance in a specific case might be a calculated risk you are willing to take. That is what does insure mean in blackjack look like.
Conclusion
There is no doubt that casino can be profitable in one night. However, when you want to know what is profitable and what is not, it will take time and effort to find it out.
So, it is also important to remember that what does insure mean in blackjack will cost you money in the long run. You need to focus on your blackjack basic strategy and making strategic decisions based on your hand and the dealer’s up-card.
