One seemingly good bet to beginning blackjack players is taking insurance. And a major reason why beginning players are fooled into thinking insurance is a good idea is because dealers ask players beforehand if they want insurance when the opportunity arises. However, this is a very poor wager, and we'll get into the specifics of why after explaining more about this bet.
How Insurance Bets Work
Topics include an in-depth history of blackjack, biographies of the influencial people to the game, how to beat lots of blackjack variants and side bets, cheating, team play, an FAQ, and blackjack poetry. The reason casino blackjack tables have a maximum bet is exactly to counter the Martingale strategy. For example, a $10 minimum Table typically has a $500 maximum. Playing the Martingale strategy, if you lose only 6 hands in succession, then you would need to bet above the maximum on the 7th hand in order to keep the cycle going until you win.
Blackjack Inbetween Bet
The opportunity for insurance wagers arise when the dealer draws a face-up ace; at this point, the dealer will go around the table and ask everybody if they want to take insurance. The insurance is in case the dealer receives a blackjack, and you put out half of your original bet as the insurance. Assuming the dealer does have a blackjack, you win 2-1 on your insurance wager.
In blackjack, insurance is a side bet which is separate to your original stake. Offered only when the dealer's upcard is an ace, it acts as a safety net against an opposing blackjack. An insurance bet is usually half your original wager and pays 2 to 1. The side bet is completed when the dealer's second card is revealed. Here are the facts on the flat betting blackjack strategy. If you bet say $5 on every hand in a standard multiple deck game the house will have an edge of 0.5% against the skilled basic strategy player. That means you will lose on average 0.5% of every wager you make. You will win an insurance bet if the dealer's second card is a ten or a picture card, thus giving him a blackjack. If it is any other card you will lose the bet. It pays out at odds of 2:1.
To illustrate how this works, let's say that you make a $10 bet, and the dealer shows an ace. You then take the offered insurance bet by laying another $5 out on the table. The dealer turns over his second card, which is a king, thus giving him a blackjack. In this event, you receive win $5 on your insurance bet ($10 total), but lose $10 since the dealer had a blackjack. So basically, your overall bet was a push, and this doesn't seem like such a bad deal so far.
Now, let us assume that the dealer didn't have a natural blackjack; in this instance, you automatically lose the $5 insurance wager; however, you still have a chance to win the original $10 wager if your hand beats the dealer's.
Why the Insurance Bet is Bad
Consult any source of blackjack strategy and they'll tell you that insurance is bad. And the first thing you have to understand with this concept is exactly what insurance entails. Most players mistakenly assume that insurance is meant to protect their hand in the event that the dealer has a blackjack. But the reality is that insurance is merely a wager on the dealer having a natural blackjack.
The main number you want to concentrate on here is 9:4 odds – or rather, the odds against the dealer having a blackjack when they're showing an ace is 9:4. To break this down further, let's say you make $5 insurance bets 130 times; based on the 9:4 odds, you'd win your bet 40 times for $400 in total winnings ($10 total earnings X 40 bets). On the other hand, you'd lose 90 of these bets for $450 in total losses ($5 total losses X 90 bets). As you can see, this leaves you $50 in the hole, thus making it a bad bet overall.
These days you can barely find a blackjack game that doesn't have some type of a side-wager, bonus or progressive bet available. That's because players have become very proficient at the standard game of blackjack and the house edge is very small. That's not always the story with side bets!
Blackjack bonus bets are designed to be easy to understand and easy to play. They accompany the standard blackjack bet and must be made before you receive your first two cards. After you find a nice comfortable chair and a friendly dealer, look for the table minimum and maximum sign and then take a seat if the bet levels match your bankroll.
You want to be able to sit back, relax and have fun, so it is always advisable to start at a table that offers a comfortable limit with regard to your gambling bankroll. If you want to start with a one-hundred-dollar buy-in, a $5 minimum bet table might be just right for you. A $25 table limit would probably be too high to start at.
Types of Blackjack Bonus Bets
Blackjack In Bet
The dealer will make a change in chips for your cash buy-in and will help you with minimums and maximums on the bonus bets, but most can be made for $1. Bonus bets stand alone from the regular blackjack bet and are sometimes called side-bets; they are optional wagers with brand names like Royal Match, Progressive Blackjack, and Lucky Ladies. To play the bonus bet, place a minimum wage of $1 in the circle for the side-bet next to your regular blackjack bet. The bonus bet is paid independently of whether you win your regular bet or not.
Each bonus bet offered has a payoff table located on the blackjack table. If you don't see one, ask the dealer what the payoffs are for their bonus bets and they will point them out or get you a brochure with all the rules and payoffs.
Bonus bets are a fun diversion and offer added excitement to the game of blackjack. However, because bonus bets usually offer the casino a much higher advantage per dollar bet than the standard blackjack bet, players are advised to play bonuses sparingly.
Most casino bonus bets are available in different variations and the casino advantage is also dependent on the number of decks used. Some bets are available at only one casino and some are available at many because they are sponsored by companies like Shuffle Master and Mikohn Gaming.
Blackjack Buy In Bethesda
The Cost of Playing Bonus Bets
To understand how the casino edge works, remember that the average blackjack player is playing at about a 2.5 percent disadvantage to the house. Over the long run, the player will lose about 2.5 cents for each dollar wagered.
Player-friendly bonus bets like Straight 8's and Sweet Sixteen are on the low end of the casino edge at just 2.7 percent. Higher percentage bets like Royal Match, Match The Dealer, Hi/Low, and Bonus Spin, have a casino edge of 3.5 percent to 8.6 percent. Lucky Ladies, Magic Jack and Wheel of Madness have a casino edge of 17 percent to 24 percent. On the outer edge are games like Perfect Charlie, with a house edge of 38.9 percent.
