Life, home, vehicle, health, travel, body parts and now even in black jack, the concept of insurance is seen in almost every waking sphere of life. In this post, we help you understand the strategy behind winning by taking insurance.
When the dealer throws in an ace, every player on the table is offered an option of taking insurance before the dealer turns up his bottom card.
Simply put, when you are taking insurance, bets are being placed on the possibility of the dealer having a blackjack. You can bet half the money as insurance and receive two dollars for every dollar you have put up as insurance, in case the dealer has a blackjack. However, in a situation when a blackjack does not appear with the dealer, you are bound to lose the money you have put up as insurance and there is a good chance you might lose the betting money too.
So, insurance is basically you betting for the dealer’s luck. Upon close inspection we realize that it is not much of luck based thing. If the dealer has an open ace, it is not a good idea to insure your bet because the chances of the bottom card being a ten are only one in three. It is therefore advisable that you not bet any insurance because you might end up losing money, even in the long run.
As ever, there is also an exception to this generalization. In case you have a black jack yourself, then it is a very good idea to opt for insurance because you will get paid whether the dealer has a blackjack or not. However, as of now, insurance is still not yet a popular concept in online casinos since it is hard to implement such a system.