Blackjack rules XXIV
The concept of insurance in blackjack game situation can be best explained with an illustration. So, if a player has betted $50 for his original bet, his insurance wager would be $25, and several situations may happen considering whether the player actually decides to play with an insurance wager or not.
Now if the dealer has a blackjack hand but the player doesn’t have such a hand and he had opted for insurance, he loses his original $50 but from insurance, wins $50 (=2:1) and so neither gains nor loses any money. Of course if he had not taken the insurance wager he stood to lose his initial $50, which would be his net loss for that hand of play. In case the dealer does not have a blackjack, but at showdown the player wins the hand then he breaks even on his bet and gets $50 if he had not opted for insurance. But if the player had chosen insurance, then the player loses the wager of $25 but wins $50 for his hand, so gets a net $25 from the situation.
In another situation that may arise the dealer may not have a blackjack but his hand value is same as the player’s, then the player would be tied and pushing, which means he neither gains nor loses on his original $50 if he has not taken the insurance wager. But if the player had accepted the insurance bet, this situation would lose him the $25 insurance bet which would amount to his net loss in that hand of play. Now if the player loses to the dealer who did not have a blackjack as his winning hand, then the player would lose the original $50 for not going for insurance bet. However, if he had opted for insurance, he loses both the insurance wager of $25 and the original bet of $50 and has a total loss of $75.
