Blackjack Insurance Explained

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Insurance in Blackjack is one of the most common topics players are interested in. Thus, we decided to offer our blackjack insurance explained piece. Get to know here the meaning of blackjack insurance, its rules, when to take it, and whether it is worth gambling.

There is a good reason for blackjack insurance becoming popular because the payout of this type of wager is very appealing. Insurance often aims to mitigate the financial impact of something bad happening. For example, we pay health insurance to cover the cost of us having to visit a hospital. We also pay auto insurance to cover the costs of a potential accident.

Does blackjack insurance carry a similar logic? Frankly no, and it is wildly different. That is why you need to keep reading this piece. However, if you are still new to blackjack we recommend first checking out our live casino blackjack guide and the best blackjack strategies for dummies. Okay, let us define the concept of blackjack insurance.

What Is Blackjack Insurance?

It is a special wager that for instance, online casinos in Canada offer to players as a type of a side bet. It is usually half the value of the original bet and it pays 2 to 1. This is a good offer for more advanced players as they know basic strategy and card-counting. In some situations, blackjack insurance helps push the odds into the player’s favor and makes playing more profitable.

Blackjack Insurance Rules

Looking into the rules of blackjack insurance, it is offered only if when all the cards are dealt the dealer has an ace showing as their first card. In addition, the player has to have a good hand of 15 or more. What is more, it pays out 2 to 1 of the original bet if the dealer reveals their second card and it comes out as ten or picture cards, making blackjack.

Example of a Blackjack Insurance Explained

Let us say you place an original bet of $10. Afterwards, the dealer puts the face-up card of an ace. You then take the insurance. It should be half the value of the original bet, which means $5. If the dealer has blackjack you win $10 from the insurance, but also you get your $5 insurance bet back. At the same time, you lose your original bet of $10, unless you also have blackjack.

To put it bluntly, with the insurance you would pay $15 and you would get back $15. So, you will come out even with no loss or win. However, there could be another option with blackjack insurance. If the dealer does not have blackjack, you lose your $5 insurance bet, and the hand continues as normal. Simple right!

When to Take the Insurance?

It is a hard question to answer. But, it is worth noting that most of the time, the dealer will not have blackjack. That means you are likely to lose your blackjack insurance. However, if you are confident in knowing that the dealer’s second card will give them blackjack, then it would be the perfect time to get blackjack insurance. If these requirements are not there, it is better to continue with the hand as normal and avoid taking the insurance.

Is Blackjack Insurance Worth It?

Well, it is nothing like health or auto insurance. Sure it might be extremely profitable if you are lucky, but it has its cons. So, if you think about it in the long run it may cost you money. In other words, if a casino offers it to you 100 time and you take it every time you will likely have less money in your bank account at the end.

You may keep in mind that there is only around a 30% chance for the dealer to have a ten or a picture card. This is why online casinos give you 2 to 1 payout which means 50%. That gives the casino a 20% house advantage.

Our Verdict on Such Special Wager

Experts at online casino news in Canada recommend not to take blackjack insurance unless you are a professional in card counting. So, it is better to avoid it unless you are an experienced player. But if you would like to try the idea you may have a look at our review about 888casino as one of the best online casinos offering blackjack tables.

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