What is the “insurance” bet in Blackjack, and is it worth it?

[Jonah]

In Blackjack, the "insurance" bet is a side bet that players can make when the dealer's upcard is an Ace. It acts as a form of protection against the dealer having a Blackjack. The insurance bet costs half of your original wager and pays 2:1 if the dealer’s downcard is a 10-point card (giving them a Blackjack). If the dealer doesn’t have a Blackjack, the insurance bet is lost.
As for whether it’s worth it, statistically, insurance is generally not a good bet for players. The odds of the dealer having a Blackjack are lower than the payout (2:1), meaning the expected value of the insurance bet is negative over time. In most cases, it's better to decline the insurance bet and stick to your original wager.

 

[CR7]

In Blackjack, the "insurance" bet is essentially a side wager that players make when the dealer's upcard is an Ace. When you opt for insurance, it is as a type of "protection" against the likelihood of the dealer having a 10-point card in the hole for a natural Blackjack. The cost of the insurance bet is usually half of your original stake, and if the dealer indeed has a Blackjack, the insurance bet pays 2:1. If the dealer doesn’t have a Blackjack, you lose the insurance bet.

When contemplating whether the insurance bet is worth it from a strategic perspective, it's crucial to consider the mathematics behind it. From a statistical standpoint, insurance typically isn't beneficial for players in the long term. This is mainly because the odds of the dealer having a Blackjack are usually lower than the payout you receive (2:1).

In the grand scheme of things, the expected value of the insurance bet tends to be negative over consistent gameplay sessions. For this reason, in most scenarios, it is generally recommended to decline the insurance bet and instead focus on your original wager. By sticking to your initial bet and employing sound basic Blackjack strategy, you can typically maximize your chances of success and avoid potentially disadvantageous side bets like insurance.