Casino & Table Games

Blackjack insurance payout

Payout

2:1 on the insurance wager¹⁴

Maximum wager

Up to half the player's original bet¹⁵

House edge (standard)

7.4% of the insurance wager⁴

Key points

• The insurance bet wins only if the dealer's hole card is a ten-value card, giving the dealer blackjack.¹⁴
• In Spanish 21, insurance still pays 2:1 but the house edge rises to 24.7%.³
• When a player with a blackjack takes insurance, the payout is called even money.¹²

Where this term is used

• Blackjack
• Odds and probability

Not the same as

• Blackjack rules payout — the main-hand payout schedule (e.g. 3:2 for a blackjack), not the insurance side bet

Related terms

Sources

1. Blackjack en.wikipedia.org Defines the insurance payout and the even-money term.
2. Even money en.wikipedia.org Supports the even-money definition for players with a blackjack.
3. Spanish 21 - Wikipedia en.wikipedia.org Provides the Spanish 21 house edge figure.
4. Insurance in Blackjack - Just Say No! - Wizard of Odds wizardofodds.com Gives the 7.4% house edge and confirms the 2:1 payout.
5. Blackjack wizardofodds.com Confirms the maximum wager of half the original bet.

Sources are drawn from regulators, universities and published research, and each one is labelled with what it actually is — a preprint is not called a paper. Bookmaker and affiliate pages are never cited here, because a page that sells betting is not a neutral authority on it.