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Originally Posted by
Three
Insurance at full amount pays $5 so you but if the dealer doesn't have BJ you win $6 and lose $2.50 for a net win of $3.50. If you place the insurace bet at 1/2 your bet you either win $5 if the dealer has BJ or win $3.50 if he doesn't. If you want to win the same whether the dealer has BJ or not you bet $2 so you win $4 whether the dealer has BJ or not.
While, of course, this is correct, the question is, "Why would you want to do it?" In 3:2 BJ, when it's correct to insure, the payoff is identical either way. But, in 6:5 BJ, if you insure for half your $5 bet, the payoff is either $5 or $3.50. Since, by definition, you're only insuring when the chance that the dealer has a natural is greater than one-third, you ought to bet the full $2.50, which will make your ultimate e.v. greater than the certain $4 either way.
Don
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