1. Should You Ever Buy Insurance In Blackjack
2. When To Not Use Insurance Blackjack
3. Blackjack Insurance Strategy

You should never use your gut to make blackjack decisions. Just like the dealer, make yourself adhere to a set of strict rules where hitting and standing is concerned. Can you imagine how crazy the game of blackjack would be if the casino allowed the dealer to use his gut feelings to make decisions? You might never win! Insurance (in blackjack): A side bet offered by casinos in blackjack that allows a player to bet up to half of the amount of his bet that the dealer has a natural when the dealer's upcard is an ace. BJ21.com Glossary of Terms. Basic strategy says never take insurance. Even if you have a natural, you are better off not insuring it. If you’re new to blackjack, the guide below will teach you everything you need to know about taking insurance (and why avoiding it will leave you in good hands). Simply, taking insurance means. Alternately, you can make the game last longer by not declaring a winner until a child covers all the squares on blackjack should you buy insurance their Bingo card.Not only do we deliver authentic casino experiences here blackjack should you buy insurance at JackpotCity, we help you integrate your game play into the rest of your daily life.First, never contradict your blackjack should you buy insurance bets.

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Millions of players have heard the message that of all the casino table games, blackjack is the one that it is possible to beat. A practical system for counting cards in blackjack to gain an edge over the casino was made available to the public in the early 1960s. As it happened, few players ever really learned to beat the dealer. Furthermore, playing conditions have changed since then. Some tables use more than one deck at a time or cut a percentage of the cards out of play so that a card counter never sees them.

Casino free spins deposit bonus. Even though most players don't have the skill to win consistently, the belief that blackjack can be beaten was enough to spark a boom in the game. Blackjack is by far the most popular casino table game in the United States, with more players than craps, roulette, and baccarat combined.

A lot of people don't have either the patience, persistence, and concentration necessary for card counting or the bankroll to make it effective. But they can still narrow the house advantage to less than 1 percent in blackjack. The secret is to learn basic strategy for hitting, standing, doubling down, and splitting pairs. A little time spent learning to play well can make your money go a lot farther in the casino. In this article, you will learn the fundamentals of blackjack, as well as some strategies to increase your odds of winning. Let's get started by learning how to play the game:

Rules

Blackjack is played with one or more standard 52-card decks, with each denomination assigned a point value. The cards 2 through 10 are worth their face value. Kings, queens, and jacks are each worth 10, and aces may be used as either 1 or 11. The object for the player is to draw cards totaling closer to 21, without going over, than the dealer's cards.

Should You Ever Buy Insurance In Blackjack

The best total of all is a two-card 21, or a blackjack. Blackjack pays 3-2--that is, a two-card 21 on a $5 bet will win $7.50 instead of the usual $5 even-money payoff on other winning hands. However, if the dealer also has a two-card 21, the hand pushes, or ties, and you just get your original bet back. But if the dealer goes on to draw 21 in three or more cards, your blackjack is still a winner with its 3-2 payoff.

The game is usually played at an arc-shaped table with places for up to seven players on the outside and for the dealer on the inside. At one corner of the table is a rectangular placard that tells the minimum and maximum bets at that table, as well as giving variations in common rules. For example, the sign might say, 'BLACKJACK. $5 to $2,000. Split any pair three times. Double on any two cards.' That means the minimum bet at this table is $5 and the maximum is $2,000. Pairs may be split according to the rules described below, and if more matching cards are dealt, the pairs may be split up to three times for a total of four hands. The player may double the original bet (double down) and receive just one more card on any two-card total.

Most games today use four, six, or eight decks. After being shuffled, the cards are placed in a receptacle called a shoe, from which the dealer can slide out one card at a time. Single- or double-deck games, most common in Nevada, but also popular in Mississippi and some other markets, may be dealt from the dealer's hand.

Play begins when you place a bet by stacking a chip or chips in the betting square on the table directly in front of you. After all bets have been placed, each player and the dealer are given two cards. In a shoe game, all player cards are dealt faceup, and the players are not permitted to touch their cards. In a single- or double-deck game dealt from the hand, cards are dealt facedown and players may pick them up with one hand. Either way, one of the dealer's cards is turned faceup so the players can see it.

Once the cards have been dealt, players decide in turn how to play out their hands. After all players have finished, the dealer plays according to set rules: The dealer must draw more cards to any total of 16 or less and must stand on any total of 17 or more. In some casinos, the dealer will also draw to 'soft' 17 -- a 17 including an ace or aces that could also be counted as a 7. The most common soft 17 is ace-6, but several other totals, such as ace-3-3 or ace-4-2, on up to ace-ace-ace-ace-ace-ace-ace in a multiple deck game, are soft 17s.

Hit: If you hit, you take another card or cards in hopes of getting closer to 21. If the player's total exceeds 21 after hitting, the player is said to 'bust' and loses the bet. In shoe games, the player signals a hit by pointing to his cards or scratching or waving toward himself. In facedown games, the player signals a hit by scratching the table with the cards. Verbal calls to hit are not accepted -- signals are used for the benefit of the security cameras above the table, so a taped record is on hand to settle any potential disputes.

Stand: If you stand, you elect to draw no more cards in hopes that the current total will beat the dealer. Signal a stand by holding a flattened palm over your cards in a faceup game or by sliding your cards under your bet in a facedown game.

Double down: You may elect to double your original bet and receive only one more card regardless of its denomination. Some casinos restrict doubling down to hands in which your first two cards total 10 or 11. Others allow you to double on any two cards. Double down by taking a chip or chips equal to the amount of your original bet and placing them next to your bet. In a facedown game, at this point you also need to turn your original two cards faceup.

Split: If your first two cards are of the same denomination, you may elect to make a second bet equal to your first and split the pair, using each card as the first card in a separate hand. For example, if you are dealt two 8s, you may slide a second bet equal to the first to your betting box. The dealer will separate the 8s, then put a second card on the first 8. You play that hand out in normal fashion until you either stand or bust; then the dealer puts a second card on the second 8, and you play that hand out.

Insurance: If the dealer's faceup card is an ace, you may take 'insurance,' which essentially is a bet that the dealer has a 10-value card down to complete a blackjack. Insurance, which may be taken for half the original bet, pays 2-1 if the dealer has blackjack. The net effect is that if you win the insurance bet and lose the hand, you come out even. For example, the player has 18 with a $10 bet down. The dealer has an ace up. The player takes a $5 insurance bet. If the dealer has blackjack, the player loses the $10 bet on the hand but wins $10 with the 2-1 payoff on the $5 insurance bet.

Many dealers will advise players to take insurance if the player has a blackjack. This can be done by simply calling out, 'Even money' -- because if the dealer does have blackjack, the player gets a payoff equal to the player's bet instead of the 3-2 normally paid on blackjack.

These are the steps involved: Player bets $10 and draws a blackjack. Dealer has an ace up. Player makes a $5 insurance bet. Dealer has blackjack. The player's blackjack ties the dealer's, so no money changes hands on the original bet. But the $5 insurance bet wins $10 on the 2-1 payoff -- the same as if the original $10 bet had won an even-money payoff.

As it happens, dealers who suggest this play are giving bad advice. Insurance would be an even bet if the dealer showing an ace completed a blackjack one-third (33.3 percent) of the time. But only 30.8 percent of cards have 10-values. Taking insurance is a bad percentage play, no matter what the player total, unless the player is a card counter who knows that an unusually large concentration of 10-value cards remains to be played.

Variations

Not all blackjack games are created equal. Some variations in the rules are good for the player, and some are bad. The shifts in the house edge may look small, but they make large differences in a game in which the total house edge is less than 1 percent against a basic strategy player. Here are some common variations and their effect on the house advantage:

Double downs after splitting pairs permitted: A very good rule for the player, it cuts the house advantage by 0.13 percent. In areas where several casinos are within reasonable distance, the player should choose games in which doubling after splits is allowed.

Resplitting of aces permitted: At most casinos, the player who splits aces receives only one more card on each ace. But if the player receives another ace, some casinos allow the resulting pair to be resplit. This option cuts the house edge by 0.03 percent. It is rare to find a game that goes even further by allowing the player to draw more than one card to a split ace, an option that cuts the house edge by 0.14 percent.

Early surrender: When the dealer's faceup card is an ace, the dealer checks to see if the down-card is a 10 to complete a blackjack before proceeding with play. If the house allows the player to surrender half the original bet instead of playing the hand before the dealer checks for blackjack, that is early surrender. A great rule for the player, and one that is rarely found, early surrender cuts the house edge by 0.624 percent. Surrender can easily be misused by beginners who haven't mastered basic strategy.

Late surrender: Found more often than early surrender, but still not commonplace, late surrender allows the player to give up half the bet rather than playing the hand after the dealer checks for blackjack. This decreases the house edge by 0.07 percent in a multiple-deck game, 0.02 percent in a single-deck game.

Double-downs limited to hard 11 and hard 10: Some casinos do not allow the player to double on totals of less than 10 or on soft hands. The net is a 0.28-percent increase in the house edge.

Dealer hits soft 17: If, instead of standing on all 17s, the dealer hits hands including an ace or aces that can be totaled as either 7 or 17, the house edge is increased by 0.2 percent.

Blackjack pays 6-5: Common on single-deck games on the Las Vegas Strip, this game is a bankroll breaker for players. For example, a two-card 21 pays only $6 for a $5 bet instead of the usual $7.50, which adds 1.4 percent edge to the house--more than the usual house edge against the basic strategy of seasoned players in nearly all games with the normal 3-2 return.

Now that you know how to play, let's explore some of the finer points of the game. In the next section, you will learn the etiquette and strategy of blackjack.

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Michael Shackleford: Hi guys, this is Mike and the purpose of today's Wizard of Odds Academy lesson will be to explain why you should never take insurance in Blackjack. What insurance is, is a side bet that the dealer has a 10 point card in the hole.

It is offered when the dealer already has an ace up, so it wins in the event that the dealer gets a blackjack. The insurance bet can be made for up to half of the player's original bet and it pays two to one if it wins.

I'm going to…

…put a two for the pace if the dealer has a 10 point card in the hole and a negative one if the dealer has an ace and a nine which represents that the player lost his insurance bet.

Let's assume six packs of cards, shall we?

Assuming no other information other than the ace up the dealer already has, there are 96 winning cards for the insurance bet, 16 times 6 out of 311 left. There's 311 because a full six-deck shoe is 312 cards and we take one out because of the dealer's ace, and there are 215 cards that will cause the insurance bet to lose.

Let's take the product of the win and the probability.

2 times 96 over 311 is 61.74% and 215 divided by 311 times -1 is -69.13%. In other words, the player can expect to win 61.74% of his bet and lose 69.13% of his bet. We take the sum which is -7.40%. That means that for every dollar the player bets on insurance, he can expect to lose 7.4 cents or 7.4% of whatever his insurance bet is.

7.4% is a pretty high house advantage and consequently, I recommend that you say no to insurance every time. Before someone says in the comments, 'Mike, what if the count is good? What if I'm counting cards?'

Yes. Then, of course, there are exceptions. If you've been counting cards and you know that the remaining cards are very 10 rich, but for the recreational player that's not counting, insurance is a terrible bet and, again, I recommend you decline it every time.

'What about even money?'

You might be asking me. Well, let me explain to you first of all, that the even money offer is the same thing as taking insurance. It's only offered when the player already has a blackjack and the dealer has an ace up.

Let's look…

…at what would happen both ways if the player has a blackjack and takes insurance. If the dealer ends up getting that blackjack, the main bet will push, so it wins nothing, but the insurance but will win one unit because the player bets half a unit on insurance. The insurance but pays two to one on the winning blackjack. One-half times two equals one.

Next…

If the dealer does not get that blackjack, the player's main wager will pay one and a half but he will lose half a unit on the insurance. The combined when between the main wager and the insurance wager is one unit when the dealer does get a blackjack and one unit when the dealer does not get a blackjack.

It doesn't make any difference whether or not the dealer gets a blackjack. If the player has a blackjack and takes insurance, he wins one unit either way and what the dealer is essentially saying is, 'Look, if you take insurance, you're going to win one to one regardless if I have a blackjack. I may as well just pay you now before I even check what I have.”

It sounds attractive but let's do some math and see if you should take it. Let's evaluate the situation where the player has a blackjack, the dealer has an ace up and the player declines insurance. If the dealer has a 10 in the hole, then the player will win nothing because it will be a blackjack against blackjack tie, in other words, a push. If the dealer has anything else in the hole, the player will win his full three to two on his wager or 1.5.

Let's assume:

knowledge of no other cards in the shoe other than what's already on the table. There are 309 cards left out of the 312 card shoe, less than three cards already involved, the player's ace and 10 and the dealers ace.

The probability that the dealer has a 10 in the hole is 95 divided by 309. Like I just said, there's 309 cards left, the shoe started with 96 tens but the player has one of them. The chances that the dealer has an ace to 9 in the hole is 214 divided by 309.

Let's examine what the player can get back either way:

If the dealer does have that 10 in the hole, the player can expect to get back nothing because the probability of zero times anything is zero. If the dealer does not have a 10 in the hole, the player can expect to get back 1.5 with a probability of 214 divided by 309. The product of those two numbers is 103.88%. If we add them up, it's obvious you still get that same 103.88%.

What this means is…

…if the player has a blackjack, the dealer has an ace up, the player can expect to win 1.0388 times his bet or about 104% of whatever he bet. The decision to whether or not to take even money is the decision; do you want to get back an average of 103.88% of your bet or just 100%?What's more? 100% or 103.88%? Well, 103.88% is more, therefore, if you're seeking the greater expected value, which you should be in any casino game, you should decline even money and go for that 103.88%.

Few caveats here:

Number one - again this is assuming the player is not counting cards, just a recreational player. Number two - this is assuming that a blackjack pays three to two.

Finally, this question has come up on my forum every once in a while and a lot of people use the argument that yes, I make a good mathematical argument for declining an insurance even money but what about the psychological argument?

If you’re in this situation with a blackjack against the dealer ace, some people will say you have a 100% chance of being happy by taking the even money, locking in a sure win but only a 69.26% chance of being happy by declining the even money.

Those figures are right but…

…in the casino as well as real life, you should be long-term minded. You should be thinking what is the expected average gain for any decision that you make? Do not always play conservatively and lock in the small win when the average win by taking a chance is greater.

Of course, there are exceptions for life-changing situations but if you’re playing Blackjack, it assumes that you like gambling, to begin with. You’re in the casino you’re gambling, gamble on winning that full one and half, don’t settle on the measly one unit. Furthermore, even if you do use this argument of I want a 100% chance of being happy right now, I’ll take the even money. That happiness is only going to last less than a minute until the next hand.

I think…

When To Not Use Insurance Blackjack

…you should be thinking what is going to be your happiness when you finally walk away from the table and you go home for your trip? The more money you win or the less money you lose from that sitting and the whole trip, the happier you’re going to be.

Furthermore, you’re going to get more, shall we say, action by taking that chance on winning with your blackjack. Like I said you’re gambling, to begin with, so gamble!

I can’t think of anything else to say on this topic. I hope that I’ve convinced you to always say no to insurance and even money.

Thanks, guys for listening and I’ll see you in the next video.

Blackjack Insurance Strategy

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