Blackjack Insurance at Casino

Blackjack Table

There are casinos that permit hands to be split and resplit as new cards continue to make pairs with the original cards. New Jersey rules do not permit this. New Jersey, however, does allow a player to double down on either of the split hands. There are times when splitting is not only permitted, but actually advantageous. For instance, splitting aces takes a relatively poor count of 12 and conceivably could make two counts of 21. A pair of eights totaling 16 means trouble. Splitting these eights could make two new hands of 18 each. Refer to the tables in "System and Strategy" for details on splitting, standing, and doubling down. They should prove helpful to you as you travel the route of the Blackjack tables.
There is also the option known as insurance. This option can only take place when the dealer's "up" card is an ace. At that point, he will ask, "Insurance?" If you think that the dealer may have a blackjack, you may make an insurance wager that is equal to half your original bet. Should the dealer have blackjack, you lose your original bet, but receive a two to one payoff on your insurance bet. Should the dealer
not have Blackjack, you lose your insurance bet and the play continues as outlined previously.

Insurance Bet

Countless computer tests have shown that taking insurance is not a bad bet. Many authorities on blackjack feel that this is a good bet to make, and should be made whenever available. My own feeling is that this is a poor bet. If you are correct, you don't win a thing (lose two and collect two for one, a net gain of nothing). If you are wrong, and play goes forth, you lose at least one chip for sure and you might not win in the final decision.
I never take insurance unless I have blackjack casino made in my hand. My reason for this one exception is that the final result must end up in my favor. In the situation where the dealer also has blackjack, my original bet is a push and I win two for one on my insurance bet for a net gain of two units.

Dealers

On the other hand, if the dealer does not have a hand with blackjack, I lose my insurance bet but receive three for two on my original bet, also for a net gain of two units. To reiterate, this is not proper strategy based on computer tests of long-term playing. I play over the short term-four hours. The long term would be millions of hours. If I can seize an opportunity to minimize my losses immediately, I will. My strategy, as shown here, yields a full 8 percent to the casino. Again, this yield is over the long term! Use your own judgment!
The final option that I shall discuss is that of the surrender. This option gives you the right to quit, and is only available in New Jersey and Aruba casinos, and in downtown casinos in Las Vegas, at this time. You may have a "feeling" that you cannot beat the deals.
If, for instance, you have a 14, 15, or 16 and the dealer is showing cards higher than seven, you may take advantage of the surrender option. You simply announce, before taking any cards, "Surrender!" You return your cards to the dealer and lose one half of your bet. If you have taken any cards from the dealer you may not take advantage of this option.
This is a very favorable opportunity for the player. It allows him to not lose his entire bet. But my own thoughts are, "Since we are playing at small chip values, why play if you are going to quit before the game even starts? Why not play on and enjoy the game, even if you lose?" However, serious gamblers will use the surrender to its greatest advantage and save lots of money.