Insurance side bet mind boggler

I have always wondered why the owners of vertually every casino allow insurance bets to be up to only 1/2 the original bet. Why?

to do, replace your original loss. you cannot over insure and profit by your loss. that is original concept of insurance anyway.

cheers

buccaneer

. . . It is so easily eploited via card-counting.

with about a 68% advantage to the casino and maybe only 1 in every 500 players can actually exploit the opportunity. If I'm the casino operator, I'm game for this. Bring it on. It could also be a semi counter trap. I think this a way and means for any casino to make additional legitimate money.

that is what insurance is suppose to do, replace your original loss.........that is original concept of insurance anyway.

OK, I realize that. But maybe instead of doing sneaky non-legitamate changes like 6/5 BJ pay and taking away DAS, do this instead. INSURE FOR MORE! They will certainly make more $ and we will like it to.

you cannot over insure and profit by your loss.

Who says, and why not?! They are always making inappropriate changes all the time. With what I am proposing, it is an appropriate modification. They will benefit and so will a handfull of AP's.

I wondering what really is the percentage of AP's to non AP's for insurance purposes only. In a post above I'm guessing 1 - 500.

By limiting it, it creates the psycological impression that it's good for the player and bad for the house. Kind of like the "shut out" phase of any good con game.

I played at an unlimited insurance table. The bets were restricted only by table maximums. Pen. was shallow and you didn't have many opportunities to insure.

I also played a game with a next card is a ten side bet pays 2to1. On any round you could bet the dealer's upcard would be a ten value. The value of this side bet is 13 times the value of insurance.

The last casino I mentioned also offered a side bet that the dealer would bust with an A upcard. The side bet paid 7to1.

The ploppies loved the sucker Ace's Bust rule and ignored the lucrative next card is a ten bet. Shark

First, the casino edge on insurance is not 68%. Off the top, it is about 1/13, which is less than 8%.

Second, if over-insurance were allowed, I don�t know that ploppies would take it. I think you would have a much higher percentage of card-counters taking it than ploppies.

I think you are right that for conventional insurance, there are a lot more ploppies who take it than card-counters. Were it the other way, I think the casino would quickly move to eliminate insurances.

However, card-counters would definitely take the over-insurance, but I think the ploppies would still insure.

Actually, I think most of the insurance money the house makes on insurance if from �even money�. I see a lot of civilians take even-money; I see few of them take insurance.

Yes, it is not 68%. However, it is a 4 for 13 chance. So, about 31% of the time the D will have a BJ.

and this is the only real real reason that the casinos done try to do insurance for more.

... MathProf is a real math professor. You're not likely to catch him on an obvious arithmetic boner.

ETF

So, the house edge for wining an insurance bet is 8%. Quite an edge.

100% insurance was allowed at the low minimum 8 decks games they used to deal at Prince Georges County, Md. Table limits were $100, minimums $5-10, with late surrender, S17, resplit to 4 and DAS with pen 88% or better. You were also allowed to insure anybody else's hand if they didn't want insurance. These "charity" games subsequently were closed down reportedly due to skimming. This is one of the few instances I can think of where overcrowded tables helped in one regard.

Instead of saying "Insurance is open" the dealer should say "Does anyone think I have a ten underneath. If you're right I'll pay you 2-1 on the bet"..."by the way, your original bet will win or lose the same no matter what you do".

Insurance can be taken for more. Just ask another player if you can bet it for him. BE CLEAR though, that if it wins that YOU get the winnings and he does not just get his money back.

reminds me of seeing more people at the crapless craps table than at the regular craps table. Your example, however, is truly frightening.

the clasic example to ploppy's wisdom is when they choose a double zero roulette, when a single zero roulette is available too. Shark

talk about a heat drawing play. I can just see myself asking my neighbor if I can insure his hand of 15 or 16 after I insured my own stiff hand.