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Sucker Bets

Without a doubt, the land-based and online casinos are there for one reason – to make a substantial profit. And considering the nature of many of the games, the odds simply are not in favor of the player – ever. But gambling and wagering bets goes even further in some cases where players are prompted to make additional decision based on the current play. Specifically, in blackjack (whether playing at land-based or online casino sites) taking insurance on a hand is not in the player’s favor in the long run – that’s why the dealer always prompts players to insure their hands when certain cards are drawn.

Many online casinos players are not aware of the odds involved in many of their bets, and some bets techniques and choices really do up the odds in a player’s favor – but don’t count on the dealer to suggest those. Insurance is straight up a sucker bet. Though it may pay off initially, across many hands the statistics are simply not in player’s favor.

Here’s the situation, you’re playing at the land-based or online casino and the dealer has an “Ace” card on the first deal. This is the point that the game is paused and the dealer prompts players to bet up to half the original wager as “insurance.” Because gamblers perceive a deck as heavy with tens and face cards they invariable chose to lower their bet as insurance against the dealer getting blackjack.

In actuality, the dealer only has a roughly 30 percent chance of hitting blackjack with a ten value card. There are more lower number cards in the deck than face cards and tens, so unless a player is card counting to estimate the number of high cards still in the deck (both illegal and impossible at the online casinos), statistically the player will loose money across multiple hands by taking the insurance bet.