I’M Steve bourie author of the American casino guide for the past 25 years. It’S been the number one bestselling book about casino gambling and travel and the only book that comes with more than $ 1,000 in casino coupons. Each month We upload a new video about how casinos work and how you can win. So if you want to learn how to be a better gambler, be sure to subscribe to our channel and don’t forget that we have a free, app, just search for American casino guide in the App Store or Google Play Store to download it.
To get details on all US, casinos plus tips for playing and free casino coupons. The insurance bet in blackjack was introduced to give the perception to players that they’re going to protect their hand against the dealer’s. Blackjack and insurance has specific rules and I’m gon na go over them so that you understand what insurance is all about. What you’re playing blackjack and the dealer has an ace as an up card.
She’Ll basically stop the game and ask players if they want to make the insurance bet Now. The insurance bet is a separate bet from your main bet and all you’re doing is. You are betting that the dealers hole card is a 10 Either 10 Jack queen or king.
Of course, if the dealer has a 10 as a hole card, the dealer will have a blackjack. The casino rules basically specify that you can bet an amount on the insurance equal to half of your original bet. So, for example, if you made a $ 10 bet on your hand, and the dealer showed an ace you can bet up to $ 5 on the insurance bet.
Now you make the insurance bet by putting your chips on the insurance line and that insurance line is on the layout. It’S between you and the dealer, and it runs the whole length of the blackjack table. So what happens if you make the insurance bet, There’s two possibilities. The first is the dealer: has the 10 in the hole your original bet is, then gon na be lost unless you have a blackjack. So if the dealer has a 10 in the hole, the dealer will have a blackjack, your original $ 10 bet will be lost.
However, the $ 5 bet that you made on the insurance line is going to be paid off at two to one odds, so all insurance bets have a two-to-one payoff odds. So, let’s review again, you lost your original bet for $ 10, but your $ 5 insurance bet wins you $ 10. So in this scenario you basically breakout even Now. The other thing that could happen is you make the insurance bet and the dealer doesn’t have a blackjack, in which case the hand will continue So most players will think of the insurance bet and say: isn’t it better if I protect my hand against a dealer blackjack By making the insurance bet and therefore they go ahead and they will ensure their hands against the dealer’s blackjack.
But let’s look at the facts about the insurance bet. First of all, regardless of what the casinos say, the insurance bet has nothing to do with your original bet. It doesn’t decrease or increase the odds of winning your original hand. The second thing is that the insurance bet is strictly a side bet that you were making that the dealer has a ten. You basically are not insuring anything.
The third fact — – and some people may not like this, but I’m gon na state it as best I can –. The insurance bet is a sucker bet. You should never ever take insurance, regardless of how much you bet, whether you bet $ 10 or $ 100 on a hand in either case the insurance is a sucker bet.
Now. What do I mean by a sucker bet? Basically, it has a high casino advantage. Now I’m gon na show you why I say the insurance bet is a sucker bet.
If you look at a deck of 52 cards, you know that the ratio of non tens to tens is 36 to 16 and by tens I mean 10 Jack queen king non-tens are 2 through 9 plus the ace so there are thirty-six to 16. Is that ratio? Now? Let’S look at the first example, the dealer deals the cards and she shows an ace up card for the moment.
Let’S ignore the composition of your two cards Before the deal. The ratio was 36 to 16. Now, after the deal, the dealer basically has removed 1 non 10 from the pack of cards.
That’S her ace, so the remaining 51 cards no longer have the ratio of 36 to 16. It’S now what It’s 35 to 16. Could you remove one of the non 10 cards? Ok, so the ratio now is 35 216. Let’S suppose you bet $ 1 51 times on that hand, what will happen well? 35 times you’re gon na lose a buck so you’re down $ 35, the sixteen times that she has to 10 you’re gon na win $ 2, because your dollar pays off at 2210 16 times $ 2 is $ 32.
So, let’s recap of lost $ 35, 1 $ 32 overall for every $ 51. You bet you’re down three dollars. If you divide $ 3 and to $ 51 that comes out to a house edge of a little over 5 percent and in my book anyhow, hedged bet, that’s over 2 % and soccer back. So let’s look at the second examples. Suppose you’re dealt same scenario. You’Ve made a bet: dealer has an ace, but this time in your hand, you’ve got to non 10 cards like to 69 or any two cars that are non tens.
Ok, let’s look at how much your gon na win lose if you made the insurance, but we start out with that ratio of 36 216 again, but now you removed an ace which is a non 10 and you’re sitting on 29 trends. The ratio is 33 216. Therefore, you’re gon na lose $ 33 spending $ 1 on every hand for insurance and you’re going to win $ 32. That’S the sixteen times she does of 10 $ 2 each time.
Sixteen times 23233, you win. 32. Your net loss as $ 1 for every $ 49. You back that leaves the house advantage of about 2 % again my book, that’s a soccer, pat, ok!
The third scenario is the one that players always seem to feel that they have to make the insurance and that’s when they hold to picture cards. That’S a strong hand. They see the dealer with an age, they feel they have to protect that 20 against a potential dealers blackshot, so they go ahead and make insurance. But all the facts are that this is probably the worst situation to take the insurance, because you’ve now removed from play. Two of the 10 value cards for sitting in your hand that you want to be in the dealers down card now, let’s look at that racial gain of thirty six to sixteen and I’ll show you what this is going to cost you when you go making insurance, But sitting with a twenty to thirty six to sixteen ratio is now going to change 235 240 thing to remove 19 10, which is the dealers ace and you to 10 value cards, which are the two that are sitting in your hands. So this scenario 49 times did you make that bet for a buck.
You’Re gonna lose $ 35 and the fourteen times that she has that picture card. You’Re gon na win $ 28, so your net loss is gon na be $ 7. You divide that by $ 49, your net loss is going to be 14 % house edge. That is a soccer. So, let’s recap: if you are a basic strategy point where there’s no scenario at all and which you do even should consider making the insurance, but it’s a sucker.
Therefore you should never ever make insurance is insurance, but never a profitable. But the answer is yes and that’s. If your card counter, because card condors are tracking the ratio of high cards and low cards or to say it, another way non tends to tens from the information that they see the cards being played. They know when the Sun played cards are rich and 10, that is when the insurance becomes profitable for a black truck player. So, therefore, the only time you should ever make an insurance card counter if your basic strategy player forget about it.