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Insurance?

Discussion in 'Cash Game / Ring Game Advice' started by jamby, May 26, 2008.

  1. jamby

    jamby Creativity Alliance

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    Do you play in any games that offer insurance?

    I played in an illegal game recently where the house offered insurance to players. I was surprised at just how many players bought insurance on hands. It was fascinating since I'd only seen it before on HSP when Eli would offer it to his fellow players. :wink:
     
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  2. trutan

    trutan Well-Known Member

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    Illegal game? Do tell us more........ :stunned:
     
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  3. Freelancer72

    Freelancer72 Well-Known Member

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    are you talking about insurance on your blackjack hand when the dealer has an ace?
     
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  4. links_slayer

    links_slayer Master of the 3-Putt Par
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    That's what I was thinking too....forget about the insurance (for now:wink:) and give us the skinny on this game!! :) :)
     
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  5. Diablo_Rojos

    Diablo_Rojos Well-Known Member

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    Jamby is talking about insrance against a loosing a hand when you're a favorite.
    I can't explain it well, but it has nothing to do with black jack
     
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  6. Josh

    Josh Second best Josh on CT.
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    No, insurance against getting drawn out on if you're all in with the lead.
     
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  7. jamby

    jamby Creativity Alliance

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    Exactly, it has nothing to do with blackjack, but is all about poker and odds. Let's say you call a bet and have 8 outs to win the hand. You can then buy insurance from the house based on those odds. The house prices the insurance much like a bookie would for a sporting event so that in the long run they come out ahead. If you lose, the house pays your loss minus the insurance premium. If you win, you pay the house a portion of your winnings. On occasion, Eli Elezra will sell insurance to the other players on HSP when asked too.

    The illegal game was in Houston on my recent trip there for the poker cruise out of Galveston. Can't say too much about it, but it was extrememly well organized and well run. The competition was also the toughest that I've ever faced.
     
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  8. cdnmoose

    cdnmoose Well-Known Member

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    Just watch the 2007 WSOP event where Helmuth makes final table and then takes so much insurance with Ivey that I think Helmuth needed to finish second just to break even, whereas Ivey ended up making more on the insurance than what Helmuth eventually cashed for. It was pretty funny.
     
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  9. joepro

    joepro Well-Known Member
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    That was hilarious, that was the first thing that came to mind, but that was a tournament, I haven't seen it in a cash game, except the eli thing. I think the Hellmuth table was the same one in which hellmuth and beth shak had aces and the other guy called all in with kings. I believe beth shak's husband dan was sitting with ivey.
     
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  10. amstelnut

    amstelnut Well-Known Member

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    I can't explain how it works, but Hellmuth was taking insurance in High Stakes Poker season 4. Just watched a rerun last night and Hellmuth and Farha both had AQ. Hellmuth was suited in hearts and hit a flush on the river. I love it when Farha gets stuck.
     
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  11. jamby

    jamby Creativity Alliance

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    He didn't take insurance on that hand though. He didn't even take Sammy up on running it twice since Sammy gold him he had AQ too.
     
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