All You Need to Know About the Insurance Bet in Blackjack

It goes without saying that Insurance bets are one of the most common side bets in Blackjack. While the basics and the working of Insurance bets are quite simple to understand, getting them right at the Blackjack table can be a tricky affair. Read on to get a detailed overview of what Blackjack Insurance bets are and whether you should use them when playing Blackjack.

What is Insurance in Blackjack?

Insurance is one of the most common side bets that can be placed in the game of Blackjack. This wager insures you against the dealer having a Blackjack and can only be placed if the dealer’s up card is an Ace. In most land-based and online Blackjack games, the payout for getting the insurance wager right is 2:1.

As most players would guess, you’ll lose your main wager if you happen to win the insurance wager. Also, it’s worth noting that the bet amount of the insurance wager can only be up to half of your initial stake size. This is because any experienced player would crush this wager if they are given the chance to wager more than half of their initial bet. If you wish to know more about the Insurance bet, then check out our article on Blackjack history that covers how the insurance bet was introduced.

Advantages of the Blackjack Insurance bet

Below we’ve listed some of the top advantages of using the insurance wager when playing Blackjack at the best mobile casino like ours:

The insurance side bet can be a great option to use at Blackjack tables with a large number of decks. The reason – having a substantial number of decks will give you access to more cards with a value of 10.

Also, if more decks are used, the dealer has a higher chance of forming a Blackjack. This, in turn, increases your chances of winning the insurance wager.

Disadvantages of the Blackjack Insurance bet

As with all other things, placing insurance wagers in Blackjack has its own set of disadvantages. They include:

If you’ve opted to use the insurance wager and are having a hand value of 14 or 15, your chances of winning the insurance wager are slim. This is because values above 14 are considered as good and are most likely to win the main bet. In such cases, the only option left with you is to focus on your main wager rather than trying to win the insurance bet.

Another disadvantage of the insurance wager is that the odds favour the dealer more than the player when a certain number of decks are used. To give you an example, the chances of winning the insurance wager in single-deck Blackjack games are 8.5%, but they get reduced to 7.5% when multiple decks are used. Here, using Blackjack strategies may not always turn the odds in your favour.

What about the even-money bet?

When playing Blackjack at land-based casinos, you may see the dealer asking whether you want to insure your hand against the dealer’s Ace. Here, it’s assumed that your hand value will form a Blackjack. While this betting option goes with another name called even money, its basics are essentially the same as the insurance wager.

Simply put, the even-money wager protects you from a push if the dealer has a Blackjack. In instances when the dealer has a Blackjack, the main wager is pushed and players receive a 2:1 payout on their even money bet. However, if the dealer’s hand value isn’t 21 (Blackjack), players get a 3:2 payout on their original wager and their even money wager in lost. From a mathematical perspective, this turns out to be the same as the insurance bet in the long run.

How does the insurance bet affect the casino advantage?

Blackjack is one of the few casino games that come with a low house edge. If you’re playing a standard Blackjack game and using a basic strategy, the house edge in the game is around 0.5%. But when you go with the Insurance bet, the casino advantage is based on the number of decks used. With a single deck, the house advantage is around 8.5% and it drops to 7.5% when eight decks are used.

The basic premise behind the insurance wager is to break even when the dealer is set to have a good start. But statistically speaking, it’s not that advantageous to the players. Sure, some players might use Blackjack card counting to keep a track of their cards after taking insurance, but it’s not accepted by most casinos. So, when using the Insurance bet, make sure to keep the above things in mind and always manage your bankroll properly.