(Blackjack continued)

Insurance and Side Bets

     

If there is one piece of advise that I could give to any non-counting blackjack player anywhere in the world that would, beyond any doubt, improve their game it would be the following: NEVER TAKE INSURANCE.

The goal of the casino with the insurance bet is to make you think that your hand has something to do with the bet. The insurance bet is really a totally separate wager, or a side bet. The wager is a very simple one. When you take insurance you are betting that the dealer has a ten value card in the hole. If there is a ten in the hole, you will be paid 2 to 1 for your insurance bet (which is max of half your original bet) and of course lose your original bet. If not, you lose your insurance bet and play out your regular hand. The whole problem with the bet is the payoff of 2:1.

If a dealer is showing an Ace, there can be 13 different cards in the hole, 2-Ace. Of the 13 cards that could be in the hole, 4 are ten value cards. Therefore, there are 9 cards that could be in the hole that make you lose the insurance bet versus 4 that let you win, 9:4. 9:4 works out to be 2.25:1. Since insurance only pays 2 to 1, you are being cheated the extra odds of .25. Therefore, generically speaking, and without considering the number of decks, the house edge on insurance is 7.69 %, which is way too much.

Notice, however, that when the composition of the deck has changed to where the odds of the dealer having that Ace in the hole is less than 2 to 1, it is in the player's advantage to take insurance. This situation does not come about often, and only experienced card counters should try and take advantage of it. Trying to guess based on how many small cards you think you have seen never works. It is very easy to mislead yourself.

Also, taking even money on a blackjack is the same thing as insurance and should be treated the same way, that is; never do it unless you are counting cards and know when to take the plunge.

Although insurance is offered at every standard blackjack table, some tables offer other more extravagant side bets in addition to insurance. I do not know of any side bet offered at any blackjack table that is fair and, therefore; I never play them.

A few popular side bets that you may see at a casino are Royal Match, Super Sevens, and Over/Under. Some casinos also offer variations of blackjack such as Spanish 21 and Multi-Action Blackjack. Always be wary of the rules and what effect they may have on the house edge. (Spanish 21 is a fair game, by the way.)