Insurance bet

E-town-guy

Well-Known Member
#1
I remember reading one of the Grifter's exerts before about how he would bet another player's insurance when the count was high when they weren't going to. Well now that I've thought about it I wanted to do the same thing as well at the casino. I use the hi-lo count and use the indices from the hi-lo lite, just multiply them by 2, so I take insurance when the TC is +4. I have two questions, what is the players edge on taking insurance at +4 (I'm curious how much it will add to my ev). This seems like common sense but I want to confirm that as soon as its worth while to insure my bet I might as well insure the whole tables bets. My second question is, when you approach a situation like this is there a good way of saying to the player "hey I'll buy your insurance so if you lose to BJ I get your money". I know that if I just say something like "I'll pay for your insurance" the player will take it as a friendly gesture and if the dealer gets BJ he'll give me back my insurance bet, keep his bet, and say thanks.

Betting another player's insurance I imagine in the long run will yield a nice addition to one's profit but if you're insuring a lot of player's bets you could see some big swings depending on whether the dealer gets BJ. Also if I lose my insurance bet I at least can still win my hand whereas no BJ means I lose all money on the other player's insurance bets. I'm a bit confused...:confused:
 
#2
I don't recommend you do it - it can lead to disputes and increased pit scrutiny... and on two occaisions I had ploppies scoop the winning insurance bet and pay-off altogether, without a thank you.

Going partners on double-downs as desrcribed below is safer, at least by degree. zg

Zengrifter Interview EXCERPT-

Splitting 10s is a risky yet lucrative play that most counters avoid -
but I’ve watched you split tens many times. How do you establish yourself as a 10-splitter without drawing heat?


I’m an enthusiastic 10-splitter, though I fancy that my top-bet 10s get split at a higher true count typically than the strict EV-based indices suggest, thus a bit more ‘risk-averse’… and as the number of splits increases, my index rises higher into RA territory. I also establish myself early on as a 10-splitter by splitting and re-splitting tens incorrectly a couple of times with small bets out, even against a 3 or a 7 perhaps. Besides the obvious cover value, it’s also an excellent way to clear the table of excess players - and if I’m lucky enough to cause the loss of others’ bets due to the ‘obnoxious’ splits, I chuckle at the player’s loss and announce that “it will work better next time!” If a ploppy invades my table I will often immediately ask them in mock surveyesque fashion “would you play at the same table as some crazy yahoo who splits 10s?”

More times than not they will passionately reply “NO!” Then I turn to the dealer and say, “Hurry up Sally - deal me some 10s!” The other players usually get the message. I'm also fond of getting another player at the table to split their tens – usually a wild redneck or one of ‘the brothers’ – I put up the other half, going “partners” - in which case the index need only be well below what even doubling on 10 would be.

Frequently you go partners with other players at your table.
How do you get them to agree to let you share their split or double down?
How do you know when that ploy is advantageous for you?

Going “partners” on double-downs and splits several times per night is a significant ‘EV- booster.’ The key to this move is to cultivate a 'table alliance' with ploppies at the table who will allow you to put up all or part of the additional double down or pair-split. For example, whenever I see a fellow player chunk out his last stack in frustration I immediately alert him that "If you get a good double down hand I'm putting up the other half!” "Partners on the double," is what I proclaim as I place the other half of the money out, reassuring the player that I’m going to “share the risk.” Whenever I see someone place a large 'last shot' bet out I immediately announce that I'm "locked and loaded" with the other part of the money, and I demonstrate this by segregating the amount out. If I see a player hesitate on a double or place a sizeable bet and/or announce “double for less,” I'm there for the balance. The key is to observe other players for these situational opportunities.

If the amount is somewhat larger than my regular top bet, that’s ok, the edge on half-doubles is very high. Partner-doubling well below the index is advantageous, so I go for it. Partner-splitting is another story - I haven't analyzed it entirely, but I would go split partners on 9s against 2-7, 10s against 2-9, etc… perhaps most 'aggressive splits' but certainly no 'defensive splits,' like 8s vs. 10) - if a macho or boozed up redneck or black brother ploppy gets 10s against 2-9, I challenge, "if you got the balls to split those I'll put up half the dough!"

How do you handle it if they turn you down?

Usually I’ll say, in mock-concern, something like, "Ok, but I must warn you that it’s very unlucky to turn me down on a partnership offer.” If we win a partner-double I reinforce for the next time with a high-five, "Yeah! Pleasure doing business with you”. Or if we lose, I reinforce with "see it’s good to share the risk... but you owe me another chance, good buddy!" If the dealer intervenes to pre-empt the move, I act oblivious and reassuringly instruct the ‘partner’ to "here take my chips."

One time I went partners with a $500 matching bet and we lost. In the next instant the player turned to me casually and asked, "Ok, now how much do I owe you?" I was tempted to tell him $250... but instead I kindly told him "another one."

Inebriated females are the best/easiest to cultivate on this ploy, but watch out - the cute ones, no matter how drunk, will insist that you in turn go partners with them on their 8-8 vs. Ace, a tricky situation.

- END EXCERPT -
 

newyorkbear

Well-Known Member
#3
I would think that offering to buy insurance for an entire table only on select Aces would be akin to tattooing I'M COUNTING onto your forehead.
 

E-town-guy

Well-Known Member
#4
Ya I thought about that after, unless you were someone who bet insurance on every hand, in which case you suck anyways.

A few times I've seen players say something like I wish I could double so I'd help them out, but usually they have more money they can change for chips so I'm just speeding up the game. One or two times when I used to play the $5 tables I'd offer to pay for someone's double and if they won they'd give me my $5 back. If they lost some would repay others wouldn't. There are a lot of players who for whatever reason neglect advantageous doubles and just hit so I'm going to try and pull a Grifter and do something like mentioned above.

Thanks ZG
 
#5
" I'm going to try and pull a Grifter":eyepatch:

If you always took insurance on your hand, you could then take insurance on everybody's hand when the count called for it... that might work in some joints. BUT the only time I've gotten into disputes it wasn't over partner doubles or splits, only taking someone elses insurance after them giving permission. Something psychological about them losing and me making 2-1 on the same hand. Sometimes they want their original bet back (after the fact) - they feel exploited. zg
 
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