« A TYPICAL HAND |
INSURANCE
Let’s play another pretend hand. In this one, you’re dealt a pair of Tens while the dealer shows an Ace. If the dealer has a blackjack, everyone at the table automatically loses their money, unless another person also has a blackjack (in which case, it’s a push, or a draw, and the bet is neither won nor lost). But before the dealer checks her hole card, she asks if you’d like to buy “insurance.”
Here you have the chance to place a side bet that she has a blackjack, by betting up to half your original bet. If you place the insurance bet and she does have a blackjack, you lose your original bet but still get paid 2 to 1 on your insurance bet, so you end up with what you started with.
But that’s only if she has a blackjack. If she doesn’t, you lose your insurance bet, and play resumes. Unfortunately, all side bets are sucker bets, and insurance is no exception. The dealer will have a blackjack less than one third of the time. You should almost never, ever take insurance, whether you have 12 or 20.
However, when you have a blackjack and the dealer shows an Ace up, she’ll offer you even money before she checks for a blackjack (which would be a push). If you take her offer, she’ll pay you even money instead of the usual 3 to 2, whether she ends up with a blackjack or not. The odds are still the same that she doesn’t, but I’m telling you to take even money. We recommend only the most reliable online casinos.
Psychologically, it’s much better to win something when you finally get a blackjack than when you just get a push. I know, I know, mathematically, in the long run, you won’t make as much money, but I say better a bird in the hand (now) than two in the bush (tomorrow).
