An insurance bet in blackjack is a side wager that players can make when the dealer’s upcard is an ace. This bet serves as a form of protection against the dealer having a natural blackjack (a total of 21 with the first two cards).
The insurance bet typically costs half of the player’s original wager. For instance, if the initial bet is £10, the insurance bet would be £5. If the dealer does have a blackjack, the insurance bet pays out at odds of 2 to 1. This means that if you placed a £5 insurance bet and the dealer revealed a blackjack, you would win £10 (plus your original £5 back), effectively breaking even on that hand.
If the dealer does not have a blackjack, the insurance bet is lost, but the main game continues. Players can still win or lose based on their original bets.
Experienced players often view insurance bets with caution. While they can mitigate losses when the dealer shows an ace, statistically, they are generally not favorable in the long run due to the house edge associated with them. Players who are more familiar with card counting might consider taking insurance if they believe many high-value cards remain in play, increasing the likelihood of the dealer having a blackjack.
