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Understanding Blackjack Insurance Strategy


Insurance option at Blackjack is one of the other strategies to win money. This standard option has been available at every casino. It has both the faces which manipulate players. On one side it is considered as protection for losing money, insurance strategy is a terrible choice on the other hand. Thus, it totally depends on the situation of the game. There is a misconception regarding Insurance Strategy that it avails shield for losers at Blackjack. We are offering you the opportunity to clear your doubts about the insurance strategy right here with us.

Working Of Insurance Strategy And Small Profit:

Every player is invited to make a move for insurance of money when dealer reveals the Ace card with face up. A screen with option of yes or no used to popup to gather player’s decision. If a player agrees to take insurance then player make bet with half of the wager stakes. The payout ratio used to be 2:1. If dealer shows 10 or blackjack on next cards and you are failed to beat the dealer’s hand then you will lose your original stakes but with profit of insurance bet.

In case, dealer does not have blackjack in the hand then you need to play continuously for next bets as you have lost the insurance bet but not original wager stake. Thus you have chance to beat dealer’s hand by getting sum of cards more than the dealer’s hand but not exceeding 21.

Insurance Strategy Is A Bad Bet:

Insurance option at blackjack doesn’t mean to protect the money. Let’s understand the real meaning of Insurance Strategy. Blackjack game has 52 cards of a deck. Every deck has 16 cards with value ten (4 10s, 4 Kings, 4 Queens, and 4 Jacks). Three cards are dealt by the dealer and player makes an insurance bet. Remaining 49 cards has probability 16/49 (i.e. 0.327) for the winning of insurance bet. Thus, payout on winning can be (2 x 0.327) i.e. $0.654.

On the other hand, deck of 49 cards has 33 non-ten value. Hence, game has the probability 33/49 (i.e. 0.673) for losing insurance bet. If player lose the insurance bet then he/she will lose $1 of insurance. Thus, payout on losing can be (-1 x 0.673) i.e. -$0.673.

Overall, the net value can be ($0.654 - $0.673) i.e. -$0.019. With the negative expectation value, player used to lose the game most of the times. Therefore, on the basis of mathematical calculations, players consider Insurance Bet option is bad hand that makes player loser.