In blackjack, insurance is a side bet that players can make if the dealer's face-up card is an ace. The insurance bet allows players to bet on the possibility that the dealer has a blackjack, which is a hand totaling 21 with only two cards.
If the dealer does have a blackjack, the insurance bet pays out at odds of 2:1, meaning that the player wins twice the amount of their insurance bet. However, if the dealer does not have a blackjack, the insurance bet is lost and the game continues as normal.
Many blackjack experts advise against taking insurance, as the odds of the dealer having a blackjack are typically not favorable for the player. It is generally considered a risky bet and is not recommended for players looking to maximize their chances of winning in the long run.
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