This post is a beginner’s guide to betting in blackjack. If you’re new to the game, understanding the ins and outs of betting can be overwhelming. But don’t worry. It’s easier than you think.
This post covers the basics of betting in blackjack, including the different types of bets you can make and the betting strategies you can use to increase your chances of winning.
I also offer some tips on managing your bankroll and staying within your budget.
By the end of this post, you’ll be ready to hit the tables and bet with confidence. For more information aimed at beginners, see my posts about the basics of blackjack, basic strategy, and the blackjack table layout.
1- The Basics of Betting in Blackjack
One of the key elements of blackjack is betting. When you sit down at a blackjack table, you’re given the option to place a bet. This bet represents the amount of money you are willing to wager on a given hand. The minimum and maximum bets at a table vary depending on the casino and the specific table you are playing at. Look for a placard on the blackjack table that lists the minimums and maximums.
Once you have placed your bet, the dealer deals the cards and the game begins. Nothing happens at the blackjack table until someone places a bet.
There are different types of bets that you can make in blackjack. The most common is the standard bet, where you’re betting that your hand will be better than the dealer’s hand. Another type of bet is a side bet, which is a bet on a specific outcome, such as getting a blackjack or a certain hand value.
Managing your bankroll is an important aspect of blackjack betting. Set a budget for yourself and stick to it. This will help you avoid overspending and ensure that you have enough money to play multiple hands without going broke in your first 15 minutes.
2- The Different Kinds of Bets Available at the Blackjack Table
You can make lots of different kinds of bets at the blackjack table. These bets vary in terms of the amount of risk and potential payout. Here are some of the most common types of bets in blackjack:
Standard Bet: This is the most basic type of bet in blackjack. You just place a wager on your hand. You win the bet if you have a hand value that is higher than the dealer’s without going over 21. You also win if the dealer busts. This bet pays off at even money unless you get a blackjack (natural), in which case it pays off at 3 to 2 or 6 to 5 odds (depending on the table).
Insurance Bet: This is a side bet you can make when the dealer’s upcard is an ace. The insurance bet is equal to half your original bet and pays out at 2:1 if the dealer has a blackjack. You’ll still lose your original standard bet. And, if the dealer doesn’t have a blackjack, the insurance bet loses. Basic strategy is to never take insurance.
Surrendering: This is an option when you feel that your hand isn’t strong enough to beat the dealer. You can surrender half of your original bet and give up their hand, rather than playing the hand out. Surrendering isn’t really a bet, but it is a way to handle your original bet. Some casinos don’t allow surrender at all.
Double Down Bet: In some cases, it makes sense to get more money into action. For example, if you have a total of 10 or 11, it often makes sense to get more money into action and take one (and only one) additional card.
Split Bet: When you have a pair, you can split your original hand into 2 independent hands, but you must put down an additional bet. You then have 2 bets and 2 hands in action. The first card of each of those 2 hands comes from your original pair.
3- The Insurance Bet Explained in Detail
You can only make an “insurance” bet when the dealer’s upcard is an ace. In that situation, you can place a separate bet, usually half the size of your original bet, that the dealer has a 10 (10, jack, queen, or king) as their hole card. If the dealer has blackjack, the insurance bet pays off at 2 to 1 odds. You still lose your original bet, but it’s a break-even situation, as the winnings from the insurance bet are the same amount as your original bet.
If the dealer doesn’t have a blackjack, you loses your insurance bet, but the game continues as normal with your original bet still in play. The purpose of the insurance bet is to protect your original bet in case the dealer has a blackjack.
The probability of the dealer having a blackjack when their upcard is an ace is only 31%. For the insurance bet to break even, the odds would need to be 33.33%.
Taking insurance is a way for you to protect your initial wager in case the dealer’s hole card is a 10-value card. But because of the low probability of the dealer having a blackjack, it’s a negative expectation bet.
In a nutshell, don’t take insurance. It’s a sucker bet.
4- Betting When You Double Down, Explained in Detail
“Doubling down” is a betting option that allows you to double your original wager and take one (and only one) additional card. After the first two cards are dealt, you can choose to double down if you believe your hand is strong enough to beat the dealer’s hand. Once you double down, you can only take one more card and must stand regardless of your total.
The most common situation where you would want to double down is when you have a hand with a value of 10 or 11. These hands give you a strong chance of getting a card with a value of 10 and reaching a hand total of 20 or 21.
The key aspect of doubling down is the increased risk and increased reward. You’re risking more money by doubling your wager, but you can also win double your original wager.
Not all casinos allow you to double down on any total. Some casinos only allow you to double down on a hand value of 10 or 11.
Also, some casinos have restrictions on when you can double down. For example, some casinos only allow you to double down on your first two cards, while others allow you to double down after splitting.
5- Betting When You’re Splitting, Explained in Detail
“Splitting” is a betting option that allows you to split a pair of cards into two separate hands. When you get a pair of cards of the same value, such as two 8s, you have the option to split them into two separate hands and place an additional wager equal to your original wager on the new hand. You then get a second card for each hand and play them independently.
The key aspect of splitting, as with doubling down, is the increased risk and increased reward. You’re risking more money by placing an additional wager, but you also stand to win more money. So, obviously, you’d only want to split on hands with cards you feel good about.
Not all casinos allow you to split any pair of cards. Some casinos only allow players to split aces once, and resplitting isn’t allowed.
6- How Surrendering Your Bet Works in Blackjack
“Surrendering” is a betting option where you forfeit your hand and lose only half your original wager. This option is offered after you’ve gotten your first two cards and before you take any further action. Surrendering makes sense when you feel like your hand is too weak to beat the dealer’s hand and that continuing to play would lead to an almost inevitable loss.
The key aspect of surrendering is the reduced risk. You’re losing only half your original wager instead of the full amount.
Not all casinos offer the option of surrender. Some casinos do not allow players to surrender their hand or only allow it in certain situations. Casinos offer two types of surrender: “early surrender,” where you can surrender your hand before the dealer checks for blackjack, and “late surrender,” where you can surrender your hand after the dealer checks for blackjack. Obviously, early surrender is better for you.
7- Bankroll Management Tips
Bankroll management is an essential aspect of being a successful blackjack player. It’s the process of managing the amount of money you have set aside for gambling and making sure you don’t spend more than you can afford. Here are some tips for managing your bankroll while playing blackjack:
- Set a budget: Before you start playing, set a budget for yourself and stick to it. Determine how much money you can afford to lose and make sure you do not exceed that amount.
- Determine your bet size: Your bet size should be a small percentage of your overall bankroll. A common rule of thumb is to not bet more than 1-5% of your bankroll on any given hand. This will allow you to play more hands and have a better chance of winning over time. This means that if you have a $500 bankroll, you would bet between $5 and $25 per hand, depending on your risk tolerance.
- Use a stop-loss limit and a win-goal: A stop-loss limit or a win-goal is a predetermined point at which you will stop playing. This will help you avoid losing more money than you can afford. It will also enable you to lock in some winnings if you get far enough ahead.
- Take breaks: Taking regular breaks is important for managing your bankroll. It will give you time to clear your head and assess your financial situation.
- Don’t chase losses: Chasing losses is a dangerous habit that can lead to significant financial losses. If you’re on a losing streak, stop playing and come back another day.
- Stay in your comfort zone: Stay within your comfort zone when it comes to your bankroll. Don’t try to play at a higher level than you can afford, as it can lead to significant financial losses.
- Don’t play when you’re emotional: Playing blackjack when you’re emotional can lead to poor decisions and significant financial losses. Wait until you’re in a calm state of mind before playing.
Conclusion
Blackjack offers a variety of betting options. Understanding the different strategies such as insurance, doubling down, splitting, and surrendering can help you make more informed decisions and increase your odds of winning.
Remember that these betting options come with risks and should be used in conjunction with proper bankroll management and basic strategy.
Be sure to visit my other post full of tips for new blackjack players and my post explaining how to avoid the most common blackjack mistakes.
