The blackjack insurance rule is a highly debated topic on the blackjack table. If you are interested in knowing what this bet is all about, read on. We share whether the insurance bet is worthwhile by looking at the odds and payouts.
In simple terms, the blackjack insurance rule is a bet on the dealer getting a blackjack. Keep reading to find out more about insurance blackjack rules.
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How Does Insurance Work in Blackjack?
As we have mentioned, the insurance rule is when you bet on the dealer having blackjack. The bet becomes available when the dealer shows an Ace card before showing their hole card.
If you are playing the live game, the dealer will announce the option to make the blackjack insurance bet. If you are playing the online version of the game, a pop up will show on the screen, or there will be a button you can press. You will have to wager half of your original bet on the insurance bet.
The bet will be independent of the main hand and wager and will pay out 2:1. If the dealer’s hole card is a 10, then it is blackjack, and you win $2 for every $1 you had bet. Should the dealer not have a ten and therefore not have a blackjack, you lose the bet, and the game will continue as normal.
There is also the option to take the insurance bet when a player has a blackjack. You will be paid out even money.
Blackjack Insurance Rule Odds
The odds for the blackjack insurance bet are not always the same because different variants use a different number of decks. If you are good at card counting, you can identify when is the right time to make the insurance bet.
If you don’t know how to card count, the odds of winning the insurance bet are never in your favor. It is even more true when you play blackjack online because the cards are shuffled after every hand is dealt.
What’s more, if there are more decks used for a game, you will get worse odds. The house edge for the insurance bet for a single deck is 5.8% and can go up to 7.5% if eight decks are used. If you decide to take the insurance bet, only do it when there is one deck of cards being used.
Should you Take the Insurance Bet?
As we have mentioned, if you want to take the blackjack insurance bet, at least be good at counting cards because you will keep track of the ten-valued cards. You will need to know when is the right time to place the bet. What’s more, you will need to use the advanced blackjack strategy to win the game.
It is unfortunate that you can’t count cards online, which means it will be difficult to know when the right time to make the insurance bet in online blackjack. This is applicable if you play live blackjack or at land-based casinos.
If you are not good at counting cards, we recommend not taking the insurance bet. This is because the dealer has 9 to 4 odds of getting a blackjack, which means that the odds are greater that you will lose the insurance bet.
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