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Online Blackjack News - Taking Insurance in Blackjack
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Most casinos usually play according to the rules, and those rules are usually for the casino. If you have played in any of the land based or online casinos, then you will get an idea of how the casinos informal rules work. The casinos usually do not promote bets that are favorable to the players. On the other hand, they do promote bets that are known as “sucker bets.”
There is no game where this is illustrated more clearly than in blackjack. Notice that when you are sitting down at a table, explanations for doubling or splitting are rarely documented or readily displayed for player reference. In contrast, if you take a look at the blackjack table itself, then you will find another bet. Indeed, at one point the dealer will stop the game and pointedly ask you if you wish to take the bet. This bets is course, the Insurance bet. Why do the casino do this? If you think about for a moment, then the answer becomes painfully clear: Taking insurance is nearly always a sucker bet
So what exactly is insurance, how does it work and why is it such a poor bet for the player?
If the dealer has an Ace, then you will be prompted to “buy insurance” after the cards are dealt, before the hands are played out. You may bet up to half your wager to win 2:1 if the dealer has a blackjack. In essence, what you are essentially doing is to bet on whether the dealer will get a ten to make a blackjack. The value of your own cards is actually totally irrelevant and should never be taken into consideration with insurance. In any single deck of cards, there are 16 cards which are have a value of Ten (10, J, Q, K, each of four suits) and 36 which don't. So the odds of drawing a Ten are 36:16 or 9:4, which can be converted to a percentage of 30.77%. However you are only being paid out 2:1 (8:4) for a 9:4 event, so the house clearly has an edge on this bet.
So is taking insurance in Blackjack ever a good thing? It doesn't matter which online casino you play there isn't a case for ever taking insurance at an online casino. The only time it may ever be favorable is in a live casino environment using card counting techniques to determine that there are a higher than normal ratio of Tens left in the deck to make the play a profitable one.
Insurance is a bet that is not favorable for the player and one that should always be avoided at Blackjack tables in online casinos. Don't be a sucker, play smart and enjoy the rewards!
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| Source:
Blackjack2002 News Staff
| Sunday, 5 August 2007 |
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