When it comes to online casino games, the concept of insurance is usually absent. You normally have to risk some money to win some money, and typically, that risk is absolute.
However, blackjack can be somewhat of an exception to this rule. In many blackjack variants, you have the option to purchase insurance, but only in specific circumstances.
What Is Insurance in Blackjack?
When you’re playing blackjack, some moments prompt certain responses. Among those is when the first card for the dealer that is showing is an Ace, Jack, King, or Queen.
At that moment, you might feel a sense of dread, knowing that the other card could be what the dealer needs for a natural blackjack. If that is the case, your best hope for this hand is a push.
At that moment, you may have the option to buy a blackjack insurance bet. This is essentially a side bet that the dealer will hit 21 on those first two cards.
In most cases, the cost is half of the original stake you placed on the hand to begin with. So, if your wager to start the game was $10, insurance would cost you $5.
It’s important to understand what an insurance bet does and doesn’t buy you in blackjack. Also, you should know the etiquette around this side wager.
How To Win a Blackjack Insurance Bet
When you see that the dealer in a blackjack game might have a natural blackjack, the online casino platform or the live dealer will typically prompt you with the option of whether or not to purchase insurance. If that does not happen, it’s usually because the variant you are playing does not feature that side bet.
Normally, you won’t have to ask the dealer about insurance, as they will know to offer it when the situation arises. When that time comes, though, it’s polite to not take too long to make your decision, especially when there are other players at the table.
If you buy the insurance and the dealer does indeed hit 21 on those first two cards, you win your insurance wager. Should the first two cards not total 21, though, you would lose that bet.
Either way, your insurance bet does not affect your original stake on the hand. So, if the dealer does indeed hit a natural blackjack, the best you could do is match that and get your original bet back.
However, a winning insurance bet would ensure that you only lose half of your original stake as opposed to all of it if you fail to earn a push. On the other hand, it’s not always going to pay off to buy insurance.
When Does Buying Blackjack Insurance Make Sense?
It’s important to remember that you could lose both your original bet and your insurance bet on the same hand. In that case, you would be out more than if you hadn’t bought insurance.
For that reason, you need to include your choice to buy insurance or not as part of a greater overall blackjack bankroll management strategy. If buying insurance puts you in danger of chasing losses or otherwise exceeding your budget, it’s most likely not the right move at that time.
If you have plenty of room in your budget for a side bet and want to protect yourself, then buying insurance can be the right thing to do. It’s just important to know that even when you are trying to mitigate your risk in blackjack, nothing is ever a sure thing. At every moment, your fate depends on the luck of the draw.
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