Even Money in Blackjack

Even money is offered when you have blackjack and the dealer shows an Ace. Instead of risking a push, you can take a guaranteed 1:1 payout immediately.

When Even Money Is Offered

The dealer asks: "Even money?" Here's what happens:

• Take even money: Win 1:1 immediately (bet $10, win $10)
• Decline: Dealer checks for blackjack
  • Dealer has blackjack → Push (no win, no loss)
  • Dealer doesn't have blackjack → Win 3:2 (bet $10, win $15)

Why Even Money Is Bad

Even money is just insurance in disguise. The math:

• ~30.8% chance dealer has blackjack (you push, win nothing)
• ~69.2% chance dealer doesn't (you win 3:2)

Expected value declining even money: 0.692 × 1.5 = 1.038 units (103.8% return)

Expected value taking even money: 1.0 units (100% return)

You win more money over time by declining.

The Emotional Trap

Even money feels safe because you "lock in" a win. But that safety costs you money. Every time you take even money, you're giving up expected value.

Think of it this way: Would you trade a $15 average win for a guaranteed $10? That's what even money does.

Always Decline

Basic strategy is absolute: never take even money. Yes, sometimes you'll push and win nothing. But over hundreds of hands, declining even money puts more chips in your stack.