Other people's insurance

Steve Harley brought to my attention that perhaps i could take other people's insurance at the heat-less european casino i play at. either i can do this directly through the dealer (?!), or perhaps i can simply ask the players themselves to let me insure their bets. here is my question: i would only take insurance for my own bet at a hi-lo TC of +3. does that mean i should only take insurance on somebody else's bet at a TC of +3?

i'm tempted to say that answer is yes. my only concern is that if the dealer does NOT have blackjack, then it seems chances are he doesn't have that great a hand, in which case i have a greater chance of winning my original hand. but if i take other people's insurance, i simply do not have a hand to take advantage of the dealer's non-blackjack.

so if i'm betting on other people's insurance, is the index number still +3, or should it be higher? with a TC of +10, should i simply attempt to insure as many boxes as i can (7x4=28 boxes in european back-betting tables)?

haha...i imagine the look on the other players faces when i take their money after the dealer's blackjack. i don't know about you guys, but i really hate the majority of other players i sit with. they quibble and complain about my moves, especially when they back-bet me and i correctly hit A,7, 10. i'd love to take their money.

does anybody have experience taking other people's insurance here? i assume such a move draws heat--but, again, where i play there is no heat (just lousy rules and full tables).

thanks
toecheeze

Insurance is really a separate bet that has nothing to do with your playing hand. You are getting a 2:1 payoff, so if the odds are less than 2:1 that the dealer has a blackjack, it is a good bet, regardless of your hand. If you can insure another player's hand and get no heat for it, do it at the proper index number and don't sweat what is in your own hand.

"Insurance is really a separate bet that has nothing to do with your playing hand."

Have you read Beyond Counting by Jamems Grosjean? What did you think of the book?

We had a discussion a while back on GC about this and buying player DD's, and the basic consensus is that it would draw MAJOR heat in Vegas (you already said no prob in your casinos) but otherwise a good move if the count dictates. Caveat: most players don't really understand how insurance works, and they may not agree that you should get their bet when you win it. Make sure you have some rapport with the player you buy insurance from and that they understand the bet has no tie to their hand. Don't expect help from the dealer or pit. Many players will give you back your original bet and say "thanks for the loan".

I haven't read that book, so I can't make any comment one way or the other.