Should I Take Even Money in Blackjack?
Blackjack Basics: What Is Even Money
Before we proceed with answering the big question, it is necessary to backtrack a bit. In other words, you need to know what is even money in the first place.
To clarify, even money is one of the side bets offered by modern gambling venues. Of course, New Jersey online casinos also offer this option. In essence, the name of this wagering proposition is pretty self-explanatory because even money is paid out in a 2:1 ratio. In a way, this side bet promises instant profits and it serves as a protection against a push. In case you are new to the game, a push in blackjack means that the players and the dealer are locked in a tie and nobody wins the hand.
Even money is not a bet that you can place any time you want. On the contrary, a set of specific circumstances is needed for this wager to become available. First of all, the player needs to receive the so-called natural blackjack, which consists of an Ace and a ten-value card (10, J, Q, or a K). Also, the dealer needs to have an Ace as the card in the hole for even money to become a viable betting option.
Why You Should Not Take Even Money?
So, if you decide to accept the offer and place the wager for the even-money side bet, you are guaranteed to win a few bucks. Well, that’s precisely the reason why many American casino goers fall for this trick in the first place. After all, the bird in a hand is worth two in the bush, ain’t it?
Well, there is more than meets the eye when it comes to even money in blackjack. In fact, this wagering proposition is profitable and viable only on the surface. Under the disguise, you will find a typical sucker bet. The reason why we say this comes from analyzing the statistical data. So, according to mathematical probability, the dealer will receive a 10-value card in 30.74% of hands. In other words, those situations will end in a push. As a result, you will win the even money bet and get paid in a 2:1 ratio.
Consequently, this means that in 60% of hands the dealer will not have a 10-value card in the hole. Therefore, blackjack players who decide to decline even money will be paid in a 3:2 ratio in around two-thirds of the hands. On top of that, they would not waste their hard-earned dollars on this side wager.
Thus, it is clear that even money is a money-wasting proposition. As a matter of fact, the math says that you would be giving up 4% of your long-term winnings by taking even money every time you play blackjack. With that, we rest our case.
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Inexperienced casino goers tend to be easy prey for casinos, online or land-based. So, in order to save the bankroll and invest your dollars the right way, it is crucial that you recognize the ‘traps’. Well, even money is a wasteful bet and you should stay away from this proposition. According to the math, you are better off by playing blackjack the old-fashion way in this case. By doing so, the playing sessions at some of the best online casinos in the US will be more profitable than ever.