The game of blackjack can be very exciting and unpredictable. There are times when no one wins or loses, such as a push, in which the player and dealer each have a value that is equal to 21. Then there are the times when a person’s hand busts, in which case their wager is lost. The other option, which is also referred to as a tie, happens when the player and dealer have a hand that are of equal value. This type of hand is a win for the house, and players are paid their original stake back.
One of the most confusing aspects of blackjack is when the dealer offers even money, or insurance as it is also known. This is a side bet that pays out in the event of the dealer having a blackjack, and it can be very tempting to take. Nevertheless, if you want to maximize your winnings in blackjack, then you should always avoid taking this bet.
What is Even Money?
When a dealer shows an ace, it is very common for the table to offer the player even money. This is an option that allows the player to instantly end their hand and receive a payout of 1:1 on their initial bet. This is very tempting to take, especially if you have a blackjack, as it prevents the possibility of the dealer having a blackjack and causing your hand to push.
However, the even money bet is actually nothing but insurance in disguise and it will always reduce your winnings over time. To understand this, you must know that the odds of the dealer having a blackjack are 33%, and if you take even money then you will be losing 4% of your profits on every single hand.
Those who are not card counters will probably never see this as an issue, but if you are counting cards and you have a good idea of the dealer’s probability of having a blackjack, then you should definitely avoid even money. There are 308 cards in a six-deck shoe, and 95 of those are 10s, so the odds of the dealer having a blackjack with an ace showing are just over 1 in 3.24.
Another point to remember when it comes to even money in blackjack is that you should always leave your cards on the table when you are done playing. It is customary to do this, and it allows the dealer to handle them openly and prevents any suspicion of tampering or marking. It’s also important to keep personal items, like bags and drinks, off of the blackjack table to avoid distractions and ensure that you can concentrate on your betting strategy. This is the best way to ensure that you can focus on your play and make the most of your bankroll.