Even Money is a proposition bet in blackjack, one of the casino card table games in which a gaming session can end in a draw also called a push.
When offered, it gives you a chance to still win. Today’s casino news highlights the even money bet, what it entails, and how best to benefit from it.
Even Money: Maximizing Your Bets
Even money is a proposition bet in blackjack that offers players a chance to win equal money on their bet instead of a push.
In Blackjack, players aim to get 21 or closer to beat the dealer, without going over. Getting a 21 (a 10-value card and an ace card) means you automatically win the round. However, if the dealer also gets a 21, the game becomes a push, and neither the dealer nor the player wins.
So, to avert or prevent a push, the dealer can offer the player an even money bet, as it is possible the dealer also has a blackjack. In this case, the player wins nothing. However, if he takes the even money offer, he’ll win even money, the equal amount of his bet.
If the player ignores the proposition and the dealer has a blackjack, he loses his bet. But if the player ignores the proposition and the dealer doesn’t have a blackjack, he’ll win 3:2 instead of the 1:1 if he had taken the proposition. These two are payouts; however, they are not as rewarding as the BlackJack Lucky Sevens.
For example, if a player places a $20 bet and wins in blackjack, the payout will be about $50. With even money, equal money will be given. With the same bet of $20, the payout will be $40 instead of $50. If the game went to a push, the player would have gotten nothing while maintaining his $20 bet.
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Is Even Money a Good Bet?
Commonly, players believe taking even money is better than the risk of landing a push. To them, it’s a guaranteed win, regardless of the amount they’ll get. However, even money is not an advisable choice mathematically, just like the blackjack insurance bet.
Typical blackjack casino games contain 6 decks of 52 cards, totaling 312 cards. Ninety-six of these are 10-value cards. Whenever you land a blackjack, it means there are 309 cards left and 95 ten-value cards left in the deck. In this instance, the chance that the dealer will have a 10-value card is 30.7%.
This means that 69.3% of the time, the dealer doesn’t have a hole card, and you’ll win 3:2. If, with a $20 bet, you take even money 100 times, you’ll go away with $2,000. However, if 100 times you reject even money, you will be left with a 60.3% chance of winning 3:2. With a $20 bet, you’ll be going with 69.3 × $30, which equals $2,079.
Therefore, taking the even money will cost you $79 over 100 times. However, players don’t get a blackjack every time, as it might take months to get up to 100. It’s entirely up to you to enjoy your instant money or rely on mathematics, knowing you’ll gain more money instead.
The only way you could leverage taking even money is through card counting. Here, you know what cards have been played and how many ten-value cards are left in the deck. While this does not guarantee a profit, it’s still a strategy worth trying.
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A Friend or Foe Bet?
Even a money proposition bet can be very tempting, especially when losing all night. However, this proposition is more in favor of the house and should not be considered. You can always play blackjack online free games to practice and become a better player.
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