A Detailed Guide to Online Live Blackjack Insurance

While most Kiwi blackjack players see it as a necessary evil, a few consider blackjack insurance a lifesaver when things turn south. So, it's fair to say that blackjack insurance is one of the most talked-about topics in the gambling world down under. If you're new to blackjack and playing at NZ online casinos, this guide will fill you in on all the details about blackjack insurance and why it's usually best to steer clear. Read on!

What Exactly is Blackjack Insurance?

Blackjack insurance is a side-bet offered to players if the dealer's face-up card is an ace. As the name suggests, it's meant to act as a safety net if the dealer ends up with a blackjack. Typically, an insurance wager costs half of your original bet and pays out at 2 to 1. In simple terms, the maximum you can bet on insurance is half of your main bet.

This side bet is only settled after the dealer reveals their second card. If it's a ten-value card (king, queen, jack, or ten), the dealer has a blackjack. In this case, you win the insurance wager. If the dealer doesn't have a blackjack, you lose your insurance bet, but you can still win your original stake.

When Might Blackjack Insurance Be Worth It (For Kiwis)?

It might be worth considering insurance if the online blackjack variant you're playing allows the dealer to only stand on soft 17. Also, you'd ideally want to have a strong hand yourself, like 20, 19, or 18. Otherwise, your hand might not be enough to beat the dealer, even with insurance.

• Imagine you're enjoying a game at your favourite live casino in New Zealand and place a $5 bet on blackjack.
• 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.