Blackjack Should You Take Even Money

In other words, they are being lured by the tempting offer of taking even money in blackjack. But there is more than meets the eye with this side bet. For that reason, our comprehensive guide is here to explain if you should take even money when playing blackjack at an online casino in India.

RS
Would I take insurance / even money with a super big bet out (ie: I knew Ace was the first card and put out a super-duper max bet).....I'm not sure what I'd do. I know the mathematical/proper play would be to 'go for it' and don't take even money.
Let's do some quick math to see how bad of a bet insurance is. There are 16/52 face cards (I'm not going to remove 2 aces and 1 ten from the deck, just to make the math easier). That means insurance has a probability of 30.7..% to be correct. In other words, if I 'gamble', then 69.3% of the time I'll win the extra 0.5 bet and 30.7% of the time I'll win 0.
With a $1K bet out, 0.693 * $1,500 = $1,039. That is the value of the hand by 'gambling' [not taking even money].
By taking even money, you automatically win $1,000.
So, you're giving up about $39 in EV by taking even money (on a $1K bet). So basically, you're giving up 3.9% in EV by taking even money. With such a large bet out there............if it was me..........I would almost certainly take even money.
Well, first of all, 'everyone' knows that insurance is a bad bet (high HE).
But what they don't quite understand is that taking even money, although it is still a poor bet (same HE as regular insurance).....it has a very low frequency, since it only occurs when you get a BJ and the dealer has an Ace showing.
I *think* it was in Don Scheslinger's (sp?) book, it was written that if you always take even money when you get a BJ versus dealer Ace........the loss in EV is tiny. It would be along the lines of playing 99 hands per hour instead of 100 hands per hour [or something like that].

General: Insurance is a good play if the probability of a dealer natural exceeds the cost of insurance divided by the payout.
In most cases ('Insurance pays 2 to 1'), that means it's a good bet when the probability of blackjack exceeds 50%. (My scribbles say higher than TC+2.5.)
In the case of 'even money' on a 6:5 table, that means it's a good bet when the probability of blackjack exceeds 20%. (My scribbles say higher than TC-1.4.)
Insurance is always a good bet if you know the dealer has a blackjack. (Probability=1)
Insurance is never a good bet if you know the dealer does not have a blackjack. (Probability=0)


What kind of a count system are you using? I'm so confused by your post.
If the TC is +2.5 (two point five), there are NOWHERE NEAR 50% of t/j/q/k in the deck.
If the TC is -1.4 (minus one point four) there is WAY MORE than 20% of t/j/q/k in the deck.
Insurance (at 2-to-1) is a good bet if the chance of a BJ exceeds 33.33%, NOT 50%. But, somehow that 2.5 figure is correct (I think it's really like 2.7 or something like that, at least in HiLo).
In a 6:5 game, even money would be proper if the chance of a BJ exceeds 1/6 (ie: 1 for every 6 cards is a Ten value). IF 1 in 6 cards are a Ten. Then there are 5 ways to win $5 for even money and $6 for 'gambler', and 1 way to win $5 for even money and $0 for 'gambler'.
That puts even money at: 6/6 * $5 = $5 in EV.
Gambler is at: (5/6) * $6 = $30/6 = $5 in EV.
If 1/6 cards are tens, then both plays are equal.
If there are MORE than 1/6 tens remaining, then even money is a good bet. That means there has to be about 16.66% remaining tens. If every -5 TC means 4 faces and 1 ace is removed, and you need to remove about 8 face cards from the deck (to get 8/52 ~ 15.5%)......then as long as the TC is greater than -10, then taking even money on a 6:5 game is the proper play. If the TC is less than -10, then you should 'gamble' and not take even money.
Dieter


What kind of a count system are you using? I'm so confused by your post.
If the TC is +2.5 (two point five), there are NOWHERE NEAR 50% of t/j/q/k in the deck.
If the TC is -1.4 (minus one point four) there is WAY MORE than 20% of t/j/q/k in the deck.


Cursed aces.
Yes, I see my error.
In my (almost) defense, Index is what... +3 on insurance? with hi/lo?
May the cards fall in your favor.
Dieter
hit the wrong button. delete.
Blackjack
Romes

I have a question about taking even money also (while card counting).
Say you were playing blackjack and were sitting at first base. You see the next card that is going to be dealt out is an ace before you place your bet. Knowing this is an advantageous situation you put a $500 bet out even though the count is neutral or slightly negative. You get a Blackjack but the dealer is showing an Ace.
In this circumstance would you take even money because of the extraordinary circumstance, or would you wave off insurance knowing that in the long run you will make more money not taking insurance especially when the count does not warrant it?
*Also assume you are a fairly low stakes player with your usual max bet being $100.


This is a great example of the nerves getting to someone =). It shouldn't matter if you have $10 out on the felt or $10,000. If the count doesn't dictate for you to take insurance, then you don't. Now, the only exception to this is when there's 'life changing' money on the line. Let's say you were on a game show and they made a $1 million bet for you and you got a blackjack vs dealer ace. Then it would appear a pretty good idea to take the even money and walk! However, if $500 won't drastically 'change your life' then you should only take insurance when the count dictates (TC +3). Otherwise, do the right thing and let it fly =).
Playing it correctly means you've already won.
AxelWolf

This is a great example of the nerves getting to someone =). It shouldn't matter if you have $10 out on the felt or $10,000. If the count doesn't dictate for you to take insurance, then you don't. Now, the only exception to this is when there's 'life changing' money on the line. Let's say you were on a game show and they made a $1 million bet for you and you got a blackjack vs dealer ace. Then it would appear a pretty good idea to take the even money and walk! However, if $500 won't drastically 'change your life' then you should only take insurance when the count dictates (TC +3). Otherwise, do the right thing and let it fly =).

I disagree assuming someone isn't counting.
If they are not counting, then they shouldn't be playing, because its -ev.
Ok I get it, they are playing for entertainment. They are already making a bad decision playing a -EV game justified as entertainment, if that's the case they can justify a bad play as entertainment and the happiness of winning a sure thing and pocketing the money. %500 can bring a lot of happiness. getting scooped for $500 can make for regret, with I should've thoughts and unhappiness . Getting extra for the BJ won't really bring that much more happiness.
FYI. I think that DON'T HEDGE unless its life changing money is complete BS. If you're an underbanked AP and you can lock up a few thousand(NOT LIFE CHANGING MONEY) that you can put to work for yourself on something better, something that's +EV. YOU SHOULD ABSOLUTELY HEDGE.
Thou shalt not hedge your bets( if you have enough money that's not working for you.)
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
Romes

I disagree assuming someone isn't counting.
If they are not counting, then they shouldn't be playing, because its -ev.
Ok I get it, they are playing for entertainment. They are already making a bad decision playing a -EV game justified as entertainment, if that's the case they can justify a bad play as entertainment and the happiness of winning a sure thing and pocketing the money. %500 can bring a lot of happiness. getting scooped for $500 can make for regret, with I should've thoughts and unhappiness . Getting extra for the BJ won't really bring that much more happiness.
FYI. I think that DON'T HEDGE unless its life changing money is complete BS. If you're an underbanked AP and you can lock up a few thousand(NOT LIFE CHANGING MONEY) that you can put to work for yourself on something better, something that's +EV. YOU SHOULD ABSOLUTELY HEDGE.
Thou shalt not hedge your bets( if you have enough money that's not working for you.)


You do have a point for those playing for entertainment, but I guess we'll respectfully disagree? =p. They won't be getting scooped for $500 with a blackjack, at worse, they'll push. You do have a point that they're already playing negative so why not take the even money? However, the original question I responded to was asking whether or not you 'should' take the even money while card counting. What's the point of counting if you don't use your extra information?
To the AP and don't hedge comments, I definitely disagree. You are NOT an AP if you're hedging your bets on non-life changing amounts of money. If you're really an AP you don't see a few grand you just made, you see the $500-$1000 you just LOST in expectation by not doing the proper mathematical play. AP's are AP's for life, it's just the way the brain works. You're not playing for the here and now, you're playing for the long run (life). I personally will make the best bets I can mathematically make my entire life, outside of blackjack, etc. This will give me the greatest profit possible by the end of my life.
The biggest bet I think I've ever placed is probably about $300-$400 per hand. If I had a $1,000 bet up and blackjacked vs dealer ace (in an even or slightly negative count as asked in the question) I would never in my life take even money. If the dealer has it, so be it, but I know mathematically I'm going to win a lot more money in the long run by not taking even money, so let it fly; I'm seeking, the full amount. =)
Playing it correctly means you've already won.
beachbumbabs
Administrator
I can totally see Romes' point, but as a non-AP, I would absolutely take even money. Bird in hand and all that, since if your regular max bet is $100, that $500 probably exceeds your hope/expectation for the entire session. Take it, and get the hell up unless the dealer's so weak you are getting peeks on a regular basis.
If the House lost every hand, they wouldn't deal the game.
Romes

I can totally see Romes' point, but as a non-AP, I would absolutely take even money. Bird in hand and all that, since if your regular max bet is $100, that $500 probably exceeds your hope/expectation for the entire session. Take it, and get the hell up unless the dealer's so weak you are getting peeks on a regular basis.


Again, no issues with this, and also, my comments are directed towards counters/AP's (as that was in the original question). I mentioned I agree with Axel's point of entertainment players taking the even money because they're already -EV, so the money is a win to them at the time.
Playing it correctly means you've already won.
Joeman
First off, welcome to the boards, Rdavidleemd! It looks like we've wandered a little from your original question. But I think it has been answered that yes, always take 'even money' if it is offered at a 6:5 game.
It sounds like you know how much better the 3:2 game is than the 6:5 game. You will find that many members here die a little inside when they hear someone is playing the 6:5 games. So, don't take it personally if you are scolded for playing it! :) There aren't too many $5 3:2 games left on the strip for us low-rollers, but if the Wizard's Blackjack Survey is accurate, they can still be found at Circus Circus & Excalibur. It's a crying shame that most of joints on the strip have taken a good game (3:2) and turned it into a lousy one (maybe lousy isn't the best word, because 6:5 still has a better edge than roulette or most 'carnival' games), but often trekking to one of the places offering 3:2 is not practical. What's a red-chipper to do, right? Blackjack Should You Take Even Money

Do You Take Even Money Blackjack


As to the current turn to this discussion, when I first started playing, I had to specifically ask for even money. I thought I was onto something! Now, I know better. These days, the dealers try hard to sell EM.
I'm not a counter, and I don't ever take insurance, but if I decided to stack up my chips and go all in on a single hand*, I would probably take even money. We're probably talking a few hundred here. Certainly not 'life changing,' but definitely 'session changing' or even 'trip bankroll changing.'
Not that I would want to do this on the blackjack table for fear of getting a split/double hand.

Blackjack Even Money Option

hwccdealer

You're not allowed even money on a 6:5 game. But you are correct, if offered it, take it!


Should You Take Even Money In Blackjack

That's not universal. At our casino, you can inexplicably take even money on a BJ at a 6:5 table. This is insane for Hollywood Columbus, given that the rest of the casino is run by Ebenezer Scrooge.

Even Money Blackjack

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