“Insurance” is an option in which the player may bet on whether or not the dealer has blackjack. Whenever an ace appears as the dealer’s up-card, the casino player has the option to purchase insurance on the best blackjack odds table. Insurance may be taken for any amount up to or equaling half of the player’s initial wager. The dealer then checks for blackjack. If the dealer has blackjack, the original wager is lost - but the insurance bet is paid at 2:1, which equals the amount of the original wager. So in the end the player breaks even, which supports the definition of traditional insurance - that of indemnifying the insured. If the dealer does not have blackjack, the insurance bet is collected as a losing wager, and the hand continues on like any other.
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