A Detailed Guide to Online Live Blackjack Insurance

While most blackjack players view it as a necessary evil, others consider blackjack insurance a lifesaver when misfortune strikes. So, it's safe to say that blackjack insurance is one of the most dividing topics in the gambling world. If you're new to blackjack in Canada, this article will furnish you with all the details about blackjack insurance and why you should keep a safe distance. Read on!

What Exactly is Blackjack Insurance?

Blackjack insurance is a side-bet offered to players if the dealer's upcard is an ace. As the name suggests, it acts as a form of protection if the dealer's hand turns out to be a 'blackjack.' Typically, an insurance wager is half the original bet and pays out 2:1. In other words, the maximum stake allowed is half of your main bet.

The side bet is only finalized after the dealer reveals their second card. If it's a king, queen, jack, or ten, the dealer has a blackjack. In this scenario, you can win the insurance wager. If the dealer doesn't have a blackjack, you may lose your insurance wager, but you can still win your original bet.

Blackjack Insurance: Is It Ever Worth It in Canada?

For seasoned Canadian players, it's generally advised to consider insurance only if the blackjack you're playing allows the dealer to only stand on soft 17. Furthermore, you'd typically want to have a strong hand yourself, like a 20, 19, or 18, to even consider it, as your hand might not beat the dealer's potential blackjack otherwise.

• Imagine you're at your favorite live online casino operating in Canada and place a $5 blackjack bet. Insurance would cost you $2.50. If the dealer has blackjack, you win $5 ($2.50 bet x 2:1 payout), effectively cancelling out your initial $5 loss. If the dealer doesn't have blackjack, you lose the $2.50 insurance bet and still play your original $5 hand.
• After that, you're dealt a nine or Jack of Hearts, and an ace is the dealer's upcard.
• Now you decide to take $2.5 insurance, which is half your original bet.
• Next, the dealer reveals ten as his/her second card. In return, the insurance bet will payout 2 to 1 and break even on your hand.

When It's Necessary to Take Insurance

Taking insurance during a blackjack game can be irresistible if an ace the dealer's upcard. There is a 1 to 3 probability that the subsequent card has a 10-value card in that case. But unless you're counting cards, it's not worth risking your hard-earned money on blackjack insurance. Mathematically, taking blackjack insurance will result in losses in the end.

You can generally win your insurance wager only if the dealer's hole card is a 10-value card. As said before, you must be an expert card counter to know for sure the amount remaining in the deck. So, if you're green about counting cards, stay away from this sucker bet.

Blackjack Insurance, Odds, Price, and House Edge

So, what are the blackjack insurance odds? The probability of a blackjack being dealt by the dealer when playing a regular table game is 9:4. However, the odds for a player to win an insurance wager aren't similar. They may vary depending on the number of decks and 10-point cards already dealt. In short, the odds are stuck against the punter.

When it comes to the price, the player can only win if the dealer's facedown card is a 10. In this case, the insurance payout is 1:1. If the player's hand is a blackjack, the payout is 3:2 or $3 for every two bets or 1.5 times the wager.

Lastly, a single deck blackjack insurance has a steep house edge of around 5.8%. But it's worth noting that you're likely to play modern blackjacks with 6 to 8 decks. In such cases, the house edge can hit 7.5%.

Blackjack Insurance: Final Advice

If you're an expert card counter, then blackjack insurance can be very profitable. Card counters have a rough idea of the number of 10-point cards remaining in a deck. Also, the payout is handsome if you already have a blackjack in hand. Bust, as said, the odds are always against the player. What's worse, taking insurance when playing multi-deck blackjacks will expose you to a painfully high house edge.