Blackjack Insurance Odds. The blackjack insurance probability of the dealer making blackjack in a regular game is 9:4. The exact odds of winning an insurance bet for the player are not the same and vary depending on the number of decks and the number of ten-point cards already dealt in the game.
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Blackjack insurance odds. If the dealer has a blackjack hand you will receive 2-1 on your insurance bet. It will essentially recover the bet that you lose to the dealer’s blackjack, or you will lose it if they have anything else. It’s also possible to lose both bets, making you worse off than if you just played out the hand against the ace.
The odds against the dealing making a blackjack are roughly 9 to 4. On average you will lose more than half of the insurance bets you make and since the bet pays out 2 to 1, it's a losing proposition.
Let's take the product of the win and the probability. 2 times 96 over 311 is 61.74% and 215 divided by 311 times -1 is -69.13%. In other words, the player can expect to win 61.74% of his bet and lose 69.13% of his bet. We take the sum which is -7.40%.
If the dealer has a ten or picture card in the hole, which gives him a blackjack, the insurance wager is paid at 2 to 1 odds. Therefore, in the above example, the $5 insurance bet would win $10. Therefore, in the above example, the $5 insurance bet would win $10.
The insurance wager must be 50% from that, which would be $25. If the dealer gets blackjack, you win $25 (the stake for the insurance bet) + $50 (thanks to the 2:1 payout), which means you get $75 in total. But if you consider that you lost the original bet, which was $50, and your initial insurance wager was $25, you will realize you broke even.
If the dealer has blackjack, you win the insurance bet, usually at 2 to 1 odds - meaning you break even on the hand. If the dealer doesn't have blackjack, you lose the insurance bet.
As well as insurance, you can place side bets to earn 50/1 (Jack and Ace of spades), 25/1 (Jack and Ace of diamonds, clubs, or hearts), or 5/2 (two cards of the same suit). 2. Atlantic City Blackjack Gold Series: This is a unique blackjack variant, powered by Microgaming.