bj insurance

I was playing blackjack at the majestic star casino in indiana. I had bet 20 dollars and got a blackjack and the dealer had Ace up. She asked te table if they wanted insurance, and she asked me if I wanted even money. I didn't say anything, but I put a 5 dollar chip in the insurance place on the table (less than half my bet). The dealer said (and the pit person agreed) that I couldn't do that. It was either take even money or hope that the dealer does not have a 10 in the hole. I said that I can insure ANY hand up to one half my bet. They said not if I have blackjack. Who's right?

mbcooper,

Technically, you were right. However, as the dealer and pit proved their incompetence, I would not have fought it. Either take the even money (full insurance) if the count is right or don�t insure at all (at that casino).

An incompetent dealer will usually pay off all insurance bets using the money from the players betting circle. In other words, he would have grabbed your $20 and paid your insurance bet with your money. Obviously, you would ask him to stop and to treat your push as a push. An incompetent dealer might not understand and in this case you may have had trouble getting the pit to understand.

Dr 21

You are technically correct. The obvious reason they disagreed with you is that they don't understand the insurance bet. It may also be a house rule that you cannot bet less. I can't understand why that would be the case because insurance is a separate side bet. You are betting that the dealer has a ten valued card underneath the ace. This side bet is limited to a maximum of half of your original bet. This side bet pays odds and you should be able to bet any amount that you want up to half of your bet. If you didn't show your blackjack (if in a face down game) then the transaction probably would have been settled without the pit involved. If the dealer did not have BJ then you would have lost your insurance bet and then the dealer would pay your bet. If the dealer had BJ then your insurance bet would have been paid and your hand would be settled as a push (standoff). Most dealers treat the insurance bet as "insurance" for a natural and want to pay even money if you have BJ. They do not look at it as a side bet. Some casinos settle the insurance bet as I described and there is never a misunderstanding. Whoever came up with the term "insurance" invented a great marketing plan.

that taking even-money assumes you want to insure for the full amount of your bet and that you only want to take partial insurance on your blackjack. Partial insurance on a strong hand like 20 or BJ when the count is just below the insurance index can actually improve the SCORE of the game you are playing because it reduces variance more than it reduces expectation.

Sorry, I couldn�t help myself. I was just taking you post literally.

Dr 21

That may or may not have been the case here. I played blackjack in Prince George's County, Maryland firehouses where you could insure up to 100% of your bet and you could insure every players hand at the table if they didn't. I don't remember, but I believe you could also bet the difference up to 100% if another player took insurance for less.

...in Nevada that, even after your explaining SCORE and Variance for an hour, have the intellectual curiosity or mental capability of understanding either concept. Personally, I have yet to even meet one. Sorry if I offend any of our member/dealers. That's why I hedged with a dozen exceptions.

Cobbson