Are You Willing To Bet?

If you won an all-expenses paid trip to Las Vegas, would you do any gambling while you were there? Yes, no, well maybe? When my daughter was maybe 16 or 17 years old (you probably remember that time in your life that you were almost an expert at anything) we took a family vacation to Las Vegas. We walked into Caesar’s Palace and she saw a sports car on top of a group of slot machines. The car was the grand prize to be awarded to the lucky winner on that series of slot machines. She promptly informed Mom and Dad that SHE was going to be that lucky someone.

One roll of quarters and three minutes later she told us, “Gambling sucks.”

Do you consider yourself to be like our daughter and want nothing to do whatsoever with gambling? Are you one of those people who think that you never, ever gamble? Well I hate to tell you this, but the insurance industry and insurance policies are built on a gambling premise.

You will be well served to remember this basic principle: The business of insurance is a bet. Insurance is nothing more than a large company (as is a casino), with a large balance sheet, playing the odds against you… on your health, risk of an accident, storm damage, theft, death or other potentially catastrophic loss. Insurance companies educate themselves in extreme detail on the odds of actually having to pay out money on a claim. From this data, they calculate how much they can charge you based on the possibility that you will file a claim, and they still will be able to make a profit!

When you own any kind of property, whether that property is possessions like furniture, clothing, an automobile or a house, when you purchase an insurance policy you are gambling. You are gambling your money every time you make a monthly premium payment. You are betting the premium amount that you spend that something unfortunate will happen to you.

The insurance company is betting also, they’re just not betting with their own money. Not yet, that is. They are betting with a promise! Their promise is that if you experience a loss, they will spend a little bit of their money to make things right for you. The thing is, the insurance company is like the casino. All the odds are stacked in their favor. They pay large amounts of money to actuaries, specialized number crunchers, to determine the odds of you winning the game (having a covered loss). You see, as far as the insurance industry is concerned, the only way you win as a policyholder is for you to lose and have to file a claim. If you don’t win, you lose (you lose your premium payments). If you do win, you lose (something bad has happened to you). What a great game!

If you don’t lose, you lose your premium money. If you win, the best that you can hope for is to break even by receiving the money that you need for your repairs from your insurance provider. Even then you can’t break even because of a little something known as a deductible. You really can only get to within a deductible of breaking even!

Whether someone wrecks your car, you have a major medical issue, or your house gets damaged, you, the policyholder, have to lose to receive any money from your insurance company. And here’s the real kicker! By using those number-crunchers and their sophisticated software programs, insurance companies know in advance just how likely it is that you will file a claim. If they determine that you are more likely to file, they increase the odds in their favor by forcing you to gamble with more of your money, as in charging you a higher premium.

Isn’t It Fun Playing the Insurance Game?

Insurance is a definite necessity in this day and age. We can’t just run out to the back forty and cut down some trees to rebuild our home. We can’t run down to the nearest auto assembly plant and grab a handful of new car parts to fix our own cars. Just please realize that insurance is a gambling game which is stacked against the policyholder. If you have purchased an insurance policy, and something unforeseen happens to you, don’t feel too bad for the insurance company. They set up the game in their favor and made you a promise. They calculated the odds and set the game up in their favor. They collected their premiums. Now they need to make good on their promise. They promised to take care of you like you deserve (minus your deductible that is).

When to Take Insurance in Blackjack

The good thing about playing blackjack is that you can be offered with insurance if the dealer shows an Ace. The point here is, you can have insurance if you will put in the insurance spot half the size of your bet. The insurance spot is just on the table. So, if the dealer has got a blackjack, you will be receiving two-one on your insurance bet. With this, you are getting back your initial bet back. However, if the dealer has no blackjack, then you lose your insurance bet but you will continue on with the game. Prior this, the dealer will ask first everybody if they want an insurance. An ace is the up card for the dealer. If you have gone to the casino, what the dealer usually says is “insurance open”. He then waits for several seconds for the players to set and put half of their bet size in the designated spot, and then close it by saying “insurance closed”. That is playing the game in casinos.

You can also play blackjack online. This is a great innovation as it offers opportunities to anyone at anywhere in anytime they want. In online playing, every person or player is asked in insurance or no insurance or yes or no style. The questioning is done beginning from right to left sideways. In an online casino blackjack game, you will be asked also if you would like insurance. Insurance is utilized if a player has blackjack. The player holding it will say “I will take even money”. This means that he or she is surrendering the three-two blackjack bonus. This guarantees their triumph on their initial bet. With this, they are piling up the insurance. So when the dealer has blackjack, they will push on their own blackjacks and be victorious over the insurance. Similar to blackjacks in casinos, if the dealer has got no blackjack, then they will lose their insurance bets. Good thing here is that they can get it back when they will be paid three-two on their own blackjack. There are players who are with a twenty and they are placing money on the insurance spot. This is to protect them from the blackjack.

This game is betting so it involves taking risks. If you are to play it and use the insurance, be prepared. But if you feel you can’t make it then, never take it. If we look closely, there are nine cards which do not make blackjack for the dealer as compared against only four cards that can make blackjack. It is plain luck that will lead you to success. In short, the casino pays a ratio of 9:4. If we consider this, we will surely lose much money as time progresses with the insurance. Sometimes, you may try it, but beware, do not take insurances always or you will have no more money left for you. Plain blackjack game is okay. Insurance in blackjack is an option for you to decide on.