Blackjack Insurance: A Great Strategy or a Bad Bet? 23 April 2024

Blackjack is among the most popular casino games. Besides slots, it is another game with simple rules which make it a little easier to understand and play.

Since the introduction of side bets, the simplicity of blackjack has changed. The insurance bet is one of the most popular ones.

What is the insurance bet?

The insurance bet is when you place a bet to protect you, as the player, for an instance where the dealer has an ace as an upcard 

You win if the dealer lands a blackjack which rewards you with a payout of 2:1 odds. Alternatively, if the card is not a ten-value card, you lose the insurance bet placed.

When should you insure? 

Low hand

The low hand is when the total value of your cards is 16 or below. Your next drawn card has a high probability of a bust.

Placing an insurance bet will help you hedge against your losses.

Good hand

When you have 20 and the dealer has an ace, it may seem like the right thing to do to insure. Even if the dealer doesn’t pull a ten, beating your 20 will be extremely difficult.

By placing an insurance bet, you will prevent losses when you have a good hand.

There is another instance to consider.

If you have a 20, two of the eight ten-value cards are already in play. This means that the dealer has reduced odds of the dealer receiving a ten in the hole.

Unfortunately, the house edge increases to a ridiculous 14.5 in this case. This makes it an unwelcome time for a good hand to consider insurance.

Blackjack hand

When the dealer has an ace and you have a blackjack, you enter the “even money” situation. The “even money” situation is the same as the insurance bet.

You should refrain from the bet here since it requires more than a basic strategy to pull off a win.

Other side bets

Insurance bets are not the only type of side bets in blackjack. There are five other side bets at players’ disposal.

Perfect pairs

You bet on the first two cards forming a pair. There are a variety of pair types including a perfect pair, a coloured pair and a mixed pair.

Perfect pairs payout ranges from 6:1 to 30:1.

21+3

Here, the first two cards are combined with the dealer’s upcard forming a three-card poker hand. The payout is determined by the strength of the hand formed which may include a flush or straight.

Bust it

You bet on whether the dealer will bust and how many cards it will take him to get there. The side bet also has varying payouts.

Lucky ladies

This bet revolves around the player’s first two cards being 20. You can earn the highest payout by holding two Queen of Hearts.

The payout is determined by how high your total is, therefore, higher totals reward you with higher payouts.

Under 13

You bet on whether the total of your first two cards will be over or under 13. Winning will earn you a payout of “even money”.

Conclusion

When choosing to place an insurance bet, it is important to understand the mechanics of different situations. Alternatively, if you cannot place the insurance bet, you can choose other side bets, including perfect pairs, Lucky Ladies and Bust It.