By Henry Tamburin

In a previous article, I explained the insurance bet and why it is a bad bet for basic strategy players. In this article, I will focus on the “even money” proposition, which is equivalent to making an insurance bet when you have a blackjack hand.

Even money comes into play when you have a blackjack hand and the dealer’s upcard is an ace. When this occurs, the dealer will ask you if you want “even money.”

  • If you say “yes” she will immediately pay you even money on your wager, before she peeks at her hole card, and then place your cards in the discard tray. If you had wagered, say, $10, the payoff is even money or another $10.

Most players are perplexed when the dealer asks if they want even money, and they usually will ask the dealer or another player for advice on what to do. The response is usually “take the even money because you can’t lose.” That’s because no matter what the dealer’s hole card happens to be, you won’t lose any money, especially if the dealer has a 10 in the hole for a blackjack.

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