Месяц: Май 2014

Three card poker (TCP) is a poker variant played in casinos. In common with other such games it can also be played in other formats, such as in online gambling on the internet. It is the most profitable proprietary table game ever when measured by win generated for casinos or by revenue generated for the rights owners.
Poker played with three cards dates back to the origins of the game of poker. As a result it’s as unclear as the origins of poker, but includes the 16th century British card game of Brag. Rules for three card poker are included in Hoyle’s Rules of Games (Second Revised Edition) from 1983 along with a hi-low variant.
Three card poker (TCP) is a poker variant played in casinos. In common with other such games it can also be played in other formats, such as in online gambling on the internet. It is the most profitable proprietary table game ever when measured by win generated for casinos or by revenue generated for the rights owners.
Strategy for Three Card Poker
Optimum player strategy against the dealer is to make the Play wager with Queen-6-4 or better. However the simple strategy of Queen high or better produces a very similar result. As with all negative expectation gambling games there is no legitimate strategy that can overcome the house advantage. Therefore the player should play the strategy that provides the most enjoyment. The most common wager strategies are to play Ante and Pair Plus wagers for equal amounts, or for one of the Ante and Pair Plus wagers to be double the amount of the other one of the Ante and Pair Plus wagers.
Variations of Three Card Poker
Prime Table Games has added a wager called Prime in United Kingdom casinos and the game is known as Prime Three Card Poker. The Prime wager is optionally placed before cards are dealt and pays on the color of the player cards. If all three cards are the same color the payoff is 3 to 1. However when included with the dealer hand if all six cards are the same color then the payoff is increased to 4 to 1. The house advantage on this wager is 3.62%.
Another variation is ‘six card bonus’, in which the players are given a payout based on the best five-card poker hand that can be made using any combination of the player’s three cards and the dealer’s three cards. Payoff ranges from 5 to 1 for three of a kind to 1000 to 1 for royal flush. Payoffs are paid regardless of whether the pair plus or ante bets pay. This variation was played at Caesars Entertainment owned properties in Atlantic City and Biloxi in November 2010.
Online Three Card Poker
Prime Table Games has licensed Three Card Poker use by certain internet casinos that do not access United States players, though a software provider, Wager Works. These internet casinos are identifiable by reference to Prime Table Games on these sites.
The majority of internet use of Three Card Poker, including all United States use, has not been licensed. Certain internet casinos have used other game names, but the game is still the same. Players are not informed by these internet casinos that Three Card Poker is a proprietary game and that these internet casinos use the game without permission of and without payment to the game inventor or the game rights owners.

Video poker is a casino game based on five-card draw poker. It is played on a computerized console similar in size to a slot machine.
The game
After inserting money (or a barcoded paper ticket with credit) into the machine, play begins by placing a bet of one or more credits and pressing the “deal” button. The player is then given cards and has the opportunity to discard one or more of them in exchange for new ones drawn from the same virtual deck. After the draw, the machine pays out if the hand or hands played match one of the winning combinations, which are posted in the pay table.
Pay tables allocate the payouts for hands and are based on how rare they are, the game variation, and the decision of the game operator. A typical pay table starts with a minimum hand of a pair of jacks, which pays even money. All the other hand combinations in video poker are the same as in table poker, including such hands as two pair, three of a kind, straight (a sequence of 5 cards of different suits), flush (any 5 cards of the same suit), full house (a pair and a three of a kind), four of a kind (four cards of the same value), straight flush (5 consecutive cards of the same suit) and royal flush (a Ten, a Jack, a Queen, a King and an Ace of the same suit).
Some machines offer progressive jackpots, or other unique bonuses, thereby spurring players to both play more coins and to play more frequently. Maureen O’Connor, former mayor of San Diego, made and then lost over a billion dollars playing video poker.
Regulation
Video poker machines in casinos in the United States are regulated by state or Indian gaming agencies. These agencies typically require that the machines deal random card sequences using a virtual deck of cards. This is based on a Nevada Gaming Commission regulation later adopted by other states with a gaming authority. Video poker machines are tested to ensure compliance with this requirement before they are offered to the public.
Some locales offer games that appear to be video poker, but are actually just front-ends for random drawings similar to a slot machine. These are known as “video lottery terminals” and sometimes have “VLT” somewhere on the machine face. The result of any deal is predetermined before the first cards are dealt. If you intentionally throw away a winning hand, a “magician” appears and replaces the losing result with a hand that pays the predetermined amount. Since there is no way to determine the payout of these machines from the given pay table, playing these machines is no better than playing a slot machine.
Kinds of video poker
There are many variations of video poker. They include Deuces Wild, where a two serves as a wild card, pay schedule modification, where four aces with a five or smaller kicker pays an enhanced amount (these games usually have some adjective in the title such as “bonus”, “double”, or “triple”); and multi-play poker, where the player starts with a base hand, and each additional played hand draws from a different set of cards with the base hand. (Multi-play games are offered in “Triple Play”, “Five Play”, “Ten Play”, “Fifty Play” and “One Hundred Play” versions.)
In games which do not have a wild card a player on average will receive the rare four-of-a-kind hand approximately once every 500 hands, while a player may play tens of thousands of hands before an extremely rare royal flush, which usually has the highest payout.
Full pay games
When modern video poker games first appeared, the highest-paying common variant of a particular game was called “Full-Pay”. Game variants that returned a lower payback percentage were termed “Short-Pay”. Though the term Full-Pay is still in use, today, there are many game variants that return more. Payback percentage expresses the long-term expected value of the player’s wager as a percentage if the game is played perfectly. A payback percentage of 99 percent, for example, indicates that for each $100 wagered, in the long run, the player would expect to lose $1 if they played every hand in the optimal way. Some Payback percentages on full-pay games are often close to or even in excess of 100 percent. Full-pay Jacks or Better, for example, offers a payback percentage of 99.54%.
Casinos don’t usually advertise the payback percentages, leaving it up to the player to identify which video poker machines offer the best schedules.
The payoff schedules for most video poker machines are configured with a pay schedule that pays proportionally more for certain hands (such as the Royal Flush) when the maximum number of credits (typically 5 coins) is bet. Therefore, players who do not play with the maximum number of credits at a time are playing with a smaller theoretical return.
Jacks or Better
“Jacks or Better,” sometimes simply called “Draw Poker,” is the most common variation of video poker. Payoffs begin at a pair of jacks. Full pay Jacks or Better is also known as 9/6 Jacks or Better since the payoff for a full house is 9 credits and the payoff for a flush is 6 credits.
Bally’s All American
All American is based on Jacks or Better with an increased payout for flushes, straights and straight flushes, but reduced payout for full houses and two pairs (8-8-8-3-1 versus 9-6-4-3-2). The full pay version (quads return 50 bets), once common but now rare, is one of the highest return versions of video poker offered, but the play strategy is very complex and mastered by few.
Tens or Better
“Tens or Better” is a variation of 6/5 Jacks or Better. The minimum paying hand is a pair of tens, rather than a pair of Jacks. Strategy is similar between the two games, in spite of the very different full house and flush payouts.
Deuces Wild
“Deuces Wild” is a variation of video poker in which all twos are wild. (Wild cards substitute for any other card in the deck in order to make a better poker hand). In Deuces Wild, the payout for a four of a kind makes up approximately ⅓ of the payback percentage of the game, and a four of a kind occurs on average approximately every fifteen hands. Deuces Wild can be found with pay schedules that offer a theoretical return as high as 100.8 percent, when played with perfect strategy. This full-pay version is found only in Nevada.(2) It is also available with other pay schedules that have lesser theoretical returns:
Bonus Poker
“Bonus Poker” is a video poker game based on Jacks or Better, but Bonus Poker offers a higher payout percentage for four of a kind. The full-pay version of this game returns 99.2%. (3) The game has multiple versions featuring different bonus payouts based on the ranking of the four of a kind.
Double Bonus
“Double Bonus” video poker is a variation of Jacks or Better with a bonus payout for four aces. This variation offers up to a theoretical return of 100.2 percent, when played with perfect strategy — however, this % is only on a “10/7” version video poker game (10/7 being the payouts for a full house and a flush). There are many other video poker varieties of 10/6, 9/6, etc. that have slightly lower than the most generous 10/7 version payout. Although the full-pay version has a theoretically-positive return, few play well enough to capitalize on it. Double Bonus is a complex game.(4)
It is also available with other pay schedules that have lesser theoretical returns:
Double Double Bonus
“Double Double Bonus” video poker is a variation of Jacks or Better which offers bonus payoffs for different four of a kinds, as seen in the payout table below. Full pay Double Double Bonus can be found with pay schedules that offer up to a theoretical return of 100.1 percent, when played with perfect strategy. It is also available with other pay schedules that have lesser theoretical returns:
Low Pay Video Poker Games
Often casinos choose to use pay tables which reduce the maximum payout percentage as compared to other commonly available game variants. This increases the house edge, and thus brings in more revenue for the casino.
9/5 Jacks or Better is a low pay version of the game. The payout for making a Flush is cut from 6x your bet to 5x your bet, but all other payouts remain the same. This reduces the maximum payout percentage to 98.45% for players betting five coins per hand to receive the Royal Flush bonus.
8/6 Jacks or Better
8/6 Jacks or Better is another often used pay table for Jacks or Better games. The payout for making a Full House is cut from 9x your bet to 8x your bet, while all other payouts remain the same as in a full pay game. This reduces the maximum payout percentage to 98.39% for players betting five coins per hand to receive the Royal Flush bonus.
8/5 Jacks or Better
8/5 Jacks or Better cuts the Full House payout from 9x your bet to 8x your bet, and also cuts the Flush payout from 6x your bet to 9x your bet. All other payouts remain the same as in a full pay game. This reduces the maximum payout percentage to 97.30% for players betting five coins per hand to receive the Royal Flush bonus.
7/5 Jacks or Better
7/5 Jacks or Better cuts the Full House payout from 9x your bet to 7x your bet, and also cuts the Flush payout from 6x your bet to 9x your bet. All other payouts remain the same as in a full pay game. This reduces the maximum payout percentage to 96.15% for players betting five coins per hand to receive the Royal Flush bonus.
6/5 Jacks or Better
6/5 Jacks or Better cuts the Full House payout from 9x your bet to 6x your bet, and also cuts the Flush payout from 6x your bet to 9x your bet. All other payouts remain the same as in a full pay game. This reduces the maximum payout percentage to 95.00% for players betting five coins per hand to receive the Royal Flush bonus.
Progressive jackpot games
Other kinds of video poker only have positive theoretical returns when the progressive jackpot is high enough. Many establishments advertise with a billboard when the progressive jackpot is high enough. Otherwise sub-optimal games like 8/5 jacks or better can become positive expectation when the jackpot is large enough.

Poker is a family of card games involving betting and individual play, whereby the winner is determined by the ranks and combinations of their cards, some of which remain hidden until the end of the game. Poker games vary in the number of cards dealt, the number of shared or “community” cards and the number of cards that remain hidden. The betting procedures vary among different poker games in such ways as betting limits and splitting the pot between a high hand and a low hand.
In most modern poker games, the first round of betting begins with one of the players making some form of a forced bet (the blind and/or ante). In standard poker, each player is betting that the hand he or she has will be the highest ranked. The action then proceeds clockwise around the table and each player in turn must either match the maximum previous bet or fold, losing the amount bet so far and all further interest in the hand. A player who matches a bet may also “raise,” or increase the bet. The betting round ends when all players have either matched the last bet or folded. If all but one player fold on any round, then the remaining player collects the pot and may choose to show or conceal their hand. If more than one player remains in contention after the final betting round, the hands are revealed and the player with the winning hand takes the pot. With the exception of initial forced bets, money is only placed into the pot voluntarily by a player who, at least in theory, rationally believes the bet has positive expected value. Thus, while the outcome of any particular hand significantly involves chance, the long-run expectations of the players are determined by their actions chosen on the basis of probability, psychology and game theory.
Poker has gained in popularity since the beginning of the twentieth century, and has gone from being primarily a recreational activity confined to small groups of mostly male enthusiasts, to a widely popular spectator activity with international audiences and multi-million dollar tournament prizes.
Gameplay
In casual play, the right to deal a hand typically rotates among the players and is marked by a token called a dealer button (or buck). In a casino, a house dealer handles the cards for each hand, but the button (typically a white plastic disk) is rotated clockwise among the players to indicate a nominal dealer to determine the order of betting. The cards are dealt clockwise around the poker table, one at a time.
One or more players are usually required to make forced bets, usually either an ante or a blind bet (sometimes both). The dealer shuffles the cards, the player on the chair to their right cuts, and the dealer deals the appropriate number of cards to the players one at a time, beginning with the player to their left. Cards may be dealt either face-up or face-down, depending on the variant of poker being played. After the initial deal, the first of what may be several betting rounds begins. Between rounds, the players’ hands develop in some way, often by being dealt additional cards or replacing cards previously dealt. At the end of each round, all bets are gathered into the central pot.
At any time during a betting round, if one player bets and no opponents choose to call (match) the bet and all opponents instead fold, the hand ends immediately, the bettor is awarded the pot, no cards are required to be shown, and the next hand begins. This is what makes bluffing possible. Bluffing is a primary feature of poker, one that distinguishes it from other vying games and from other games that make use of poker hand rankings.
At the end of the last betting round, if more than one player remains, there is a showdown, in which the players reveal their previously hidden cards and evaluate their hands. The player with the best hand according to the poker variant being played wins the pot. A poker hand comprises five cards; in variants where a player has more than five cards, the best five cards play.
Variants
Poker has many variations, all following a similar pattern of play and generally using the same hand ranking hierarchy. There are four main families of variants, largely grouped by the protocol of card-dealing and betting:
Straight
A complete hand is dealt to each player, and players bet in one round, with raising and re-raising allowed. This is the oldest poker family; the root of the game as now played was a game known as Primero, which evolved into the game three-card brag, a very popular gentleman’s game around the time of the American Revolutionary War and still enjoyed in the U.K. today. Straight hands of five cards are sometimes used as a final showdown, but poker is almost always played in a more complex form to allow for additional strategy.
Stud poker
Cards are dealt in a prearranged combination of face-down and face-up rounds, or streets, with a round of betting following each. This is the next-oldest family; as poker progressed from three to five-card hands, they were often dealt one card at a time, either face-down or face-up, with a betting round between each. The most popular stud variant today, seven-card stud, deals two extra cards to each player (three face-down, four face-up) from which they must make the best possible 5-card hand.
Draw poker
A complete hand is dealt to each player, face-down, and after betting, players are allowed to attempt to change their hand (with the object of improving it) by discarding unwanted cards and being dealt new ones. Five-card draw is the most famous variation in this family.
Community card poker
Also known as “flop poker”, community card poker is a variation of stud poker. Players are dealt an incomplete hand of face-down cards, and then a number of face-up community cards are dealt to the center of the table, each of which can be used by one or more of the players to make a 5-card hand. Texas hold ‘em and Omaha are two well-known variants of the community card family.
Other games that use poker hand rankings may likewise be referred to as poker. Video poker is a single-player video game that functions much like a slot machine; most video poker machines play draw poker, where the player bets, a hand is dealt, and the player can discard and replace cards. Payout is dependent on the hand resulting after the draw and the player’s initial bet.
Strip poker is a traditional poker variation where players remove clothing when they lose bets. Since it depends only on the basic mechanic of betting in rounds, strip poker can be played with any form of poker; however, it is usually based on simple variants with few betting rounds, like five card draw.
Another game with the poker name, but with a vastly different mode of play, is called Acey-Deucey or Red Dog poker. This game is more similar to Blackjack in its layout and betting; each player bets against the house, and then is dealt two cards. For the player to win, the third card dealt (after an opportunity to raise the bet) must have a value in between the first two. Payout is based on the odds that this is possible, based on the difference in values of the first two cards. Other poker-like games played at casinos against the house include three card poker and pai gow poker.

Blackjack strategy
Basic strategy
Each blackjack game has a basic strategy, which is playing a hand of any total value against any dealers upcard which loses least money to the house in the long term.
The bulk of basic strategy is common to all blackjack games, with most rule variations calling for changes in only a few situations. For example, if the above game used the hit soft 17 rule, common in Las Vegas Strip casinos, only 5 cells of the table would need to be changed: double on 11 vs. A, surrender 15 or 17 vs. A, double on A,7 vs. 2, double on A,8 vs. 6. Also when playing basic strategy never take insurance or “even money.”
Estimates of the house edge for blackjack games quoted by casinos and gaming regulators are generally based on the assumption that the players follow basic strategy and do not systematically change their bet size. Most blackjack games have a house edge of between 0.5% and 1%, placing blackjack among the cheapest casino table games. Casino promotions such as complimentary matchplay vouchers or 2:1 blackjack payouts allow the player to acquire an advantage without deviating from basic strategy.
Composition-dependent strategy
Basic strategy is based upon a player’s point total and the dealer’s visible card. Players may be able to improve on this decision by considering the precise composition of their hand, not just the point total. For example, players should ordinarily stand when holding 12 against a dealer 4. However, in a single deck game, players should hit if their 12 consists of a 10 and a 2. The presence of a 10 in the player’s hand has two consequences:
It makes the player’s 12 a worse hand to stand on (since the only way to avoid losing is for the dealer to go bust, which is less likely if there are fewer 10s left in the shoe).
It makes hitting safer, since the only way of going bust is to draw a 10, and this is less likely with a 10 already in the hand.
However, even when basic and composition-dependent strategy lead to different actions, the difference in expected reward is small, and it becomes even smaller with more decks. Using a composition-dependent strategy rather than basic strategy in a single deck game reduces the house edge by 4 in 10,000, which falls to 3 in 100,000 for a six-deck game.
Side bets
Many blackjack tables offer a side bet on various outcomes including:
Player hand and dealer’s up card sum to 19, 20, or 21 (“Lucky Lucky”)
Player initial hand is a pair (“Perfect pairs”)
Player initial hand is suited, suited and connected, or a suited K-Q (“Royal match”)
Player initial hand plus dealer’s card makes a flush, straight, or three-of-a-kind poker hand (“21+3”)
Player initial hand totals 20 (“Lucky Ladies”)
Dealer upcard is in between the value of the players two cards (“In Bet”)
First card drawn to the dealer will result in a dealer bust (“Bust It!”)
One or both of the players cards is the same as the dealers card (“Match the Dealer”)
Player allowed to make optional second hand, and effectively receive the hand of 10,8, or 18 without drawings cards (“Instant 18”)
The side wager is typically placed in a designated area next to the box for the main wager. A player wishing to wager on a side bet is usually required to place a wager on blackjack. Some games require that the blackjack wager should equal or exceed any side bet wager. A non-controlling player of a blackjack hand is usually permitted to place a side bet regardless of whether the controlling player does so.

Rule variations and their consequences for the house edge
The rules of casino blackjack are generally determined by law or regulation, which establishes certain rule variations allowed at the discretion of the casino. The rules of any particular game are generally posted on or near the table, failing which there is an expectation that casino staff will provide them on request. Over 100 variations of blackjack have been documented.
As with all casino games, blackjack incorporates a “house edge”, a statistical advantage for the casino which is built into the game. The advantage of the dealer’s position in blackjack relative to the player comes from the fact that if the player busts, the player loses, regardless of whether the dealer subsequently busts. Nonetheless, blackjack players using basic strategy will lose less than 1% of their total wagered amount with strictly average luck; this is very favorable to the player compared to other casino games. The loss rate of players who deviate from basic strategy through ignorance is in general expected to be greater.
Dealer hits soft 17
Each game has a rule about whether the dealer must hit or stand on soft 17, which is generally printed on the table surface. The variation where the dealer must hit soft 17 is abbreviated “H17” in blackjack literature, with “S17” used for the stand-on-soft-17 variation. Substituting an “H17” rule with an “S17” rule in a game benefits the player, decreasing the house edge by about 0.2%.
Number of decks
All things being equal, using fewer decks decreases the house edge. This mainly reflects an increased likelihood of player blackjack, since if the players draws a ten on their first card, the subsequent probability of drawing an ace is higher with fewer decks. It also reflects a decreased likelihood of blackjack-blackjack push in a game with fewer decks.
Casinos generally compensate by tightening other rules in games with fewer decks, in order to preserve the house edge or discourage play altogether. When offering single deck blackjack games, casinos are more likely to disallow doubling on soft hands or after splitting, to restrict resplitting, require higher minimum bets, and to pay the player less than 3:2 for a winning blackjack.
Late/early surrender
Surrender, for those games that allow it, is usually not permitted against a dealer blackjack; if the dealer’s first card is an ace or ten, the hole card is checked to make sure there is no blackjack before surrender is offered. This rule protocol is consequently known as “late” surrender. The alternative, “early” surrender, gives player the option to surrender before the dealer checks for blackjack, or in a no-hole-card game. Early surrender is much more favorable to the player than late surrender. Most medium-strength hands should be surrendered against a dealer Ace if the hole card has not been checked.
For late surrender, however, while it is tempting opt for surrender on any hand which will probably lose, the correct strategy is to only surrender on the very worst hands, because having even a one in four chance of winning the full bet is better than losing half the bet and pushing the other half, as entailed by surrendering.
Resplitting
If the cards of a post-split hand have the same value, most games allow the player to split again, or “resplit”. The player places a further wager and the dealer separates the new pair dealing a further card to each as before. Some games allow unlimited resplitting, while others may limit it to a certain number of hands, such as four hands (for example, “resplit to 4”).
Hit/resplit split aces
After splitting aces, the common rule is that only one card will be dealt to each ace; the player cannot split, double, or take another hit on either hand. Rule variants include allowing resplitting aces or allowing the player to hit split aces. Games allowing aces to be resplit are not uncommon, but those allowing the player to hit split aces are extremely rare. Allowing the player to hit hands resulting from split aces reduces the house edge by about 0.13%; allowing resplitting of aces reduces house edge by about 0.03%. Note that a ten-value card dealt on a split ace (or vice versa) is a “soft 21” and not a “natural”.
No double after split
After a split, most games allow doubling down on the new two-card hands. Disallowing doubling after a split increases the house edge by about 0.12%.
Double on 9/10/11 or 10/11 only
Under the “Reno rule”, double down is only permitted on hard totals of 9, 10, or 11 (under a similar European rule, only 10 or 11). Basic strategy would otherwise call for some doubling down with hard 9 and soft 13–18, and advanced players can identify situations where doubling on soft 19–20 and hard 8,7 and even 6 is advantageous. The Reno rule prevents the player from taking advantage of double down in these situations and thereby increases the player’s expected loss. The Reno rule increases the house edge by around one in 1000, and its European version by around two in 1000.
No hole card and OBO
In most non-U.S. casinos, a ‘no hole card’ game is played, meaning that the dealer does not draw nor consult his or her second card until after all players have finished making decisions. With no hole card, it is almost never correct basic strategy to double or split against a dealer ten or ace, since a dealer blackjack will result in the loss of the split and double bets; the only exception is with a pair of A’s against a dealer 10, where it is still correct to split. In all other cases, a stand, hit or surrender is called for. For instance, holding 11 against a dealer 10, the correct strategy is to double in a hole card game (where the player knows the dealer’s second card is not an ace), but to hit in a no hole card game. The no hole card rule adds approximately 0.11% to the house edge.
The “original bets only” rule variation appearing in certain no hole card games states that if the player’s hand loses to a dealer blackjack, only the mandatory initial bet (“original”) is forfeited, and all optional bets, meaning doubles and splits, are pushed. “Original bets only” is also known by the acronym OBO; it has the same effect on basic strategy and house edge as reverting to a hole card game.
Altered payout for a winning blackjack
In many casinos, a blackjack pays only 6:5 or even 1:1 instead of the usual 3:2. This is usually at tables with the lowest table minimums and single-deck games. Among common rule variations in the U.S., these altered payouts for blackjack are the most damaging to the player, causing the greatest increase in house edge. Since blackjack occurs in approximately 4.8% of hands, the 1:1 game increases the house edge by 2.3%, while the 6:5 game adds 1.4% to the house edge. Video blackjack machines generally pay 1:1 payout for a blackjack. The 6:5 rule is most commonly employed on table blackjack at single deck games, where they help the house to compensate for low house edge intrinsic in using one deck only.
Dealer wins ties
The rule that bets on tied hands are lost rather than pushed is catastrophic to the player. Though rarely used in standard blackjack, it is sometimes seen in “blackjack-like” games such as in some charity casinos.

Insurance
If the dealer’s upcard is an ace, the player is offered the option of taking “insurance” before the dealer checks the hole card.
Insurance is a side bet that the dealer has blackjack and is treated independently of the main wager. It pays 2:1 (meaning the player receives two dollars for every dollar bet) and is available when the dealer’s exposed card is an ace. The idea is that the dealer’s second card has a fairly high probability (nearly one-third) to be ten-valued, giving the dealer blackjack and disappointment for the player. It is attractive (although not necessarily wise) for the player to insure against the possibility of a dealer blackjack by making a maximum “insurance” bet, in which case the “insurance proceeds” will make up for the concomitant loss on the original bet. The player may add up to half the value of their original bet to the insurance and these extra chips are placed on a portion of the table usually marked “Insurance Pays 2 to 1”.
Players with a blackjack may also take insurance, and in taking maximum insurance they commit themselves to winning an amount exactly equal to their main wager, regardless of the dealer’s outcome. Fully insuring a blackjack against blackjack is thus referred to as “taking even money”, and paid out immediately, before the dealer’s hand is resolved; the players do not need to place more chips for the insurance wager.
Insurance bets are expected to lose money in the long run, because the dealer is likely to have blackjack less than one-third of the time. However the insurance outcome is strongly anti-correlated with that of the main wager, and if the player’s priority is to reduce variation, it is reasonable to pay for this.
Furthermore, the insurance bet is susceptible to advantage play. It is advantageous to make an insurance bet whenever the hole card has more than a chance of one in three of being a ten. Advantage play techniques can sometimes identify such situations. In a multi-hand, face-up, single deck game, it is possible to establish whether insurance is a good bet simply by observing the other cards on the table after the deal; even if there are just 2 player hands exposed, and neither of their two initial cards is a ten, then 16 in 47 of the remaining cards are tens, which is larger than 1 in 3, so insurance is a good bet. This is an elementary example of the family of advantage play techniques known as card counting.
Bets to insure against blackjack are slightly less likely to be advantageous than insurance bets in general, since the ten in the player’s blackjack makes it less likely that the dealer has blackjack too.