Insuring for less
- Thread starter Automatic Monkey
- Start date
I tend to "Over-Insure".....
i.e, take Full Ins. at "Break-Even" Cts. AND Above.....Most would take it only at +EV.
Certainly, WE ALL NEED COVER.....however, I would fear that taking Ins. at Neg. EV's would ultimately overexpose your Bankroll. Even a $5. "joke bet" when your min. $50. bet is out, at TC of -10, would lose one roughly 4-5% of both bets, i.e., $4.75 per hand.
Further, True Ploppies either:
(A) Always take Ins., or
(B) Only take Ins. when they have GOOD Hands (19 or 20).....When the Dealer is even LESS likely to have a 10-card under their Ace.
If one is using Kelly to size bets, then I think that Ins. should be 1/2 of that amount.....if one is being watched, "Kelly-Ramped-Ins." could actually serve as a confirmation of suspiscions, rather than a distraction thereof.
Personally, I use the Ins. Bet to:
(1) Make extra $.
(2) Get "Heads-up action"...3 Dealer BJ's in a row, with that Pr#ck who has not taken Ins. for an hour, but now, has won his Ins. Bet 3-times-in-a-row....
drives 'em away in droves!
(3) Confuse Ploppies, and more "Heads-up action"....Insure a 2,3, then a few hands later, neither Insure Nor take Even Money for a BJ.....ploppies think I am an Idiot, thus, RUINING THEIR CARDS, thus "off to Roulette".
(4) Confuse PC's (when playing 2 hands).....they think I am stupid for taking Ins. on BOTH my 6,7 AND my BJ...."Sir, you could have Even Money on your BJ".
However, the PLAN has back-fired more than once.....Novice Player asks "When should I take Ins.?".....Dealer nods/points to me and says "ONLY WHEN HE DOES".
Hope this helps answer your post.
phantom007.
i.e, take Full Ins. at "Break-Even" Cts. AND Above.....Most would take it only at +EV.
Certainly, WE ALL NEED COVER.....however, I would fear that taking Ins. at Neg. EV's would ultimately overexpose your Bankroll. Even a $5. "joke bet" when your min. $50. bet is out, at TC of -10, would lose one roughly 4-5% of both bets, i.e., $4.75 per hand.
Further, True Ploppies either:
(A) Always take Ins., or
(B) Only take Ins. when they have GOOD Hands (19 or 20).....When the Dealer is even LESS likely to have a 10-card under their Ace.
If one is using Kelly to size bets, then I think that Ins. should be 1/2 of that amount.....if one is being watched, "Kelly-Ramped-Ins." could actually serve as a confirmation of suspiscions, rather than a distraction thereof.
Personally, I use the Ins. Bet to:
(1) Make extra $.
(2) Get "Heads-up action"...3 Dealer BJ's in a row, with that Pr#ck who has not taken Ins. for an hour, but now, has won his Ins. Bet 3-times-in-a-row....
drives 'em away in droves!
(3) Confuse Ploppies, and more "Heads-up action"....Insure a 2,3, then a few hands later, neither Insure Nor take Even Money for a BJ.....ploppies think I am an Idiot, thus, RUINING THEIR CARDS, thus "off to Roulette".
(4) Confuse PC's (when playing 2 hands).....they think I am stupid for taking Ins. on BOTH my 6,7 AND my BJ...."Sir, you could have Even Money on your BJ".
However, the PLAN has back-fired more than once.....Novice Player asks "When should I take Ins.?".....Dealer nods/points to me and says "ONLY WHEN HE DOES".
Hope this helps answer your post.
phantom007.