Most blackjack players know that insurance is a bad bet. The odds of the insurance bet are terrible, and it’s a waste of money. But what are the actual odds of insurance in blackjack?
The odds of insurance are 2 to 1. This means that for every $1 you bet, you will only win $2 if the dealer has a blackjack.
The chances of the dealer having a blackjack are about 9%. This means that you will lose money on insurance about 81% of the time.
So, should you ever take insurance? No! The odds are against you, and it’s not worth the risk. If you want to win at blackjack, stick to basic strategy and don’t waste your money on insurance.