The Essentials of Insurance in Blackjack

For a simple card game like blackjack, it is surprising that some parts of it are pretty unclear to the majority of those who are into playing it. Such case in point is the player option that is insurance.

For those who are new to blackjack, it is unclear to them as to what the said option is for. For those who are already into blackjack and fairly know its ins and outs, insurance is still a hairy matter since it is unclear whether choosing to play the said option is a wise move or not.

To clear up the confusions surrounding the insurance option in blackjack, here are the essential information that can help in enlightening players, newbie and experts alike, about the basics of insurance and the wisdom behind getting or rejecting an offer of having one from the dealer.

The opportunity to have insurance comes up when the dealer's faced-up card is an ace. The insurance is offered as a bet of protection against a likely hand of 21 for the dealer. As such, the said player option is in essence a wager that the faced-down card of the dealer is a 10-value card. The allowed amount for insurance is usually half of the player's bet and in the event that the dealer does have a 10-value card, it has a pay ratio of 2-1.

There are six possible outcomes when a player takes insurance from the dealer. First of such scenarios is the dealer and the player both having 21-value hands. Such a scenario ends in a net gain for the player. Second is the player having a 21-value while the dealer does not. It will also end favorably for the player, bet-wise. The third scenario is the exact opposite of the preceding one, the dealer having 21 while the player does not. Such a situation will end in push.

The fourth one will be the dealer and player both not having 21 but the player wins the hand. This scenario will end favorably for the player. The fifth scenario is the same with the only difference being the dealer having the better hand than the player. Unlike the others, such a scenario does not end favorably for the players. The last scenario is also identical to the preceding one with the only difference being the player and the dealer tying the hand. As with the preceding hand again, the scenario does not end favorably for the player.

Looking at the different scenarios as a whole, one can easily say that taking insurance is a good move in blackjack since majority of the results favor the player. This is a misconception because it is important to point out that most of the time, it is likely that the dealer does not have a 10-value card making the said player option a waste of money.

It is important that player knows everything about the blackjack player option that they are choosing as some are just there to entice players into shelling out more money, even more so when the players do not know what they are doing.