Even Money Blackjack: Should You Take It?

Blackjack is an excellent game with a low house edge. Players can reduce that edge to as low as 1%, but some rules still may not be favorable to players – even when it means collecting some winnings on a blackjack.

Some casinos give players the option of taking even money for blackjack in certain scenarios. Is this a wise move? What are the instances in which this is offered?

Keep reading to learn if you should take even money in blackjack.

What Is Even Money in Blackjack?

The even money bet in blackjack refers to an option found in some casinos when a player is dealt a blackjack. In the traditional game, blackjack pays out at 3 to 2, but often can be found at 6 to 5. Either way, landing a blackjack offers players an even higher payout than simply winning an average hand. This gives you the chance to move your bankroll up as you collect more of these premium hands.

However, on occasion the dealer will also have a blackjack – meaning the player will push and not win or lose any money. Because of this, some casinos give players the option of taking even money when the dealer has an ace upcard.

This then gives the player the option of an even money blackjack before the dealer takes a peek for blackjack. For example:

• The player bets $20 and is dealt A-Q for a blackjack.
• The dealer has an ace upcard and offers the player the chance to accept even money blackjack.
• The player accepts the offer and is awarded another $20 in winnings.

However, if the player rejected the offer and the dealer didn’t have blackjack, the player would have earned $30 instead at a property or online platform paying out 3 to 2 on blackjack. If at a 6 to 5 payout, the player would have collected $24 (more on 6 to 5 games below).

Should You Take Even Money in Blackjack?

Many players believe that accepting an even money blackjack payout when the dealer has an ace upcard is a good option. They think they are at least securing some winnings rather than risking a push. The idea of getting nothing for a blackjack isn’t something many players want to consider so may grudgingly accept even money. But is this the right play?

When to Accept Even Money in Blackjack

The bottom line is that players should almost always decline even money for blackjack when the casino is paying out 3 to 2 on blackjack. In a typical six-deck game, the dealer only has about a 31% chance of having a blackjack. That means about a 69% chance that the dealer doesn’t have blackjack.

Those numbers are in your favor and the casino knows it. Rather than more than likely paying out even more to you for the best hand in the game, the casino tries to entice players into accepting even money.

In essence, a payer is taking the insurance bet when accepting even money. There are a couple of exceptions:

1. The casino pays 6 to 5 on blackjack. The player has an edge in taking the even money blackjack payout in this scenario, but that is why almost all casinos never offer this option.
2. You are counting cards and the count is to the casino’s favor and there is a high mathematical probability that the dealer has a blackjack. However, the great majority of players aren’t in this situation and should be utilizing basic strategy to reduce the casino’s house edge.

Pros and Cons of Even Money Bets

When hitting the tables either in a live casino setting or online, here are a few pros and cons of the ​​blackjack even money wager.

Advantages

• The player is rewarded with winnings when there might have been a push.
• You collect some winnings no matter whether your hand holds up or not.
• Provides players with another option at the table.
• May be a better move in rare cases when a property offering 6 to 5 payouts on blackjack offers this option.

Disadvantages

• This is not a good option for players over the long run.
• Players still have a great chance at winning the hand even when the dealer has an ace upcard, so the potential for extra winnings is reduced. There is a 69% chance that the dealer doesn’t have a 10-value card under the ace.
• Player gives up extra winnings rewarded for a blackjack. A $20 bet would only win $20 rather than $30.

Conclusion

The even money blackjack bet allows players to accept even a 1:1 payout for a blackjack when the dealer has an ace upcard. A player betting $10 will receive $10 before the dealer peeks for blackjack rather than a $15 payout based on the traditional payout of 3 to 2 on this hand.

In almost all cases, this is a bad bet for players and the offer should be rejected. There is a 69% chance that the dealer doesn’t have blackjack. Those odds are in the player’s favor and any even money blackjack offer should be rejected.

Those looking to try out their blackjack skills should head over to the blackjack tables at Lucky Block Casino. The platform is user-friendly and offers a great chance to get in the action for some real-money gaming.

Frequently Asked Questions

Is even money worth it in blackjack?

No, in almost all cases. In a game paying 3 to 2 on blackjack, there is still a 69% chance that the dealer doesn’t have a 10-value card in addition to the ace upcard. Those odds are heavily in the player’s favor.

What does even money pay?

An even-money bet pays the same amount that you wagered. For example, a player betting $10 and accepting the even money blackjack option will be paid $10. If the dealer didn’t have blackjack, the player would have earned $15.

Why bet on even money?

Players often fear that the dealer will have blackjack and they won’t receive any winnings for this premium hand.

How do you accept even money in blackjack?

Dealers will give players this option before peeking at the card below their upcard. However, as noted this is not a good option for players in the long run.

Is even money a good bet?

No, players should avoid this bet in all cases except on the rare case in which a casino offers the option at a 6-to-5 blackjack table or in certain instances when counting cards.