Even money: a sure 1 to 1 instead of a chance at 3 to 2
When you hold blackjack and the dealer shows an ace, the dealer may offer even money. You take a guaranteed 1 to 1 payout before the peek. It is the same bet as insurance, and over time declining it pays more.
Reviewed Oct 14, 2026
Answer first
90s| Choice | Dealer has blackjack | Dealer has no blackjack |
|---|---|---|
| Take even money | Win 1 unit | Win 1 unit |
| Decline | Push, win 0 | Win 1.5 units |
| Insurance instead | Win 1 unit net | Win 1 unit net |
Key numbers
Even money in four numbers
In short
Key takeaways
- Even money is insurance under another name.
- Declining pays about 1.04 units per hand on average, against 1 unit for taking it.
- Card counters take it only when many tens remain in the shoe.
- At 6 to 5 tables, even money is worth even less to refuse, but still not worth taking.
On the felt
The even-money moment
You: blackjack
A natural 21
Dealer: ace up
Dealer asks "even money?"
Dealer peeks: 9
No blackjack — decliners get 3 to 2
Taking even money locks in 1 unit, but declining averages more.
Expected value per $10 bet
| Choice | Average return |
|---|---|
| Take even money | $10.00 |
| Decline (6 decks) | About $10.38 |
| Decline (single deck) | About $10.31 |
Approximate figures with standard rules.
Why it equals insurance
Insurance costs half your bet and pays 2 to 1 if the dealer has blackjack. With a blackjack in hand, either outcome nets you exactly one unit, the same as even money.
So the insurance edge, about 7% with six decks, applies here too.
Outcomes over 100 such hands
| Choice | Dealer blackjack (31) | No blackjack (69) | Total |
|---|---|---|---|
| Take even money | 31 units | 69 units | 100 units |
| Decline | 0 | 103.5 units | 103.5 units |
Rounded; the gap is about 3.5% to 4% in your favor by declining.
Why players take it
A guaranteed payout feels good, and losing a blackjack to a dealer blackjack stings. For a large bet, some players accept the lower average to remove the swing.
That is a personal choice, but the math always favors declining in a normal game.
Sequence
When offered even money
Step 01
Check your hand
Only with blackjack.
Step 02
Check the dealer card
An ace is showing.
Step 03
Say "no thanks"
Wave it off.
Step 04
Wait for the peek
Push or 3 to 2.
Single deck exception
In single-deck games, your own blackjack removes a ten from the deck, which slightly lowers the dealer’s chance. Even money is still a losing bet.
Only a counter with a high true count should consider it.
Your turn
Terms
Even money
A 1 to 1 payout for a blackjack against a dealer ace.
Insurance
A side bet that the dealer has blackjack.
Peek
The dealer’s check for blackjack.
Natural
An ace and a ten-value card.
A $100 example
With $100 on the table and a blackjack against an ace, taking even money pays $100 every time. Declining pays $150 about 69% of the time and $0 otherwise, averaging about $103.50.
Common mistakes
- Calling it a safe bet
- It costs you about 4%.
- Taking it at every table
- Decline in normal games.
- Confusing it with surrender
- Different rules.
- Hesitating
- The dealer waits; decide quickly.
Keep reading
Related pages
Go play
Where to play in Las Vegas
Tap a resort — each row opens that casino’s White Gambling page (hours, game mix, floor facts). Venues with this game in official counts, sorted high to low.
Open a casino page
Real listings · not adsAfter the 90 seconds
Questions before and after you play
A 90-second guide cannot cover every table moment. Tap a group, then a question — answers are short paragraphs, not one-liners.
01Basics
What is even money in blackjack?
An offer to pay your blackjack 1 to 1 right away when the dealer shows an ace. House rules can vary, so check the table placard or ask the dealer.
Is even money the same as insurance?
Yes. With a blackjack, insurance and even money both net exactly one unit. House rules can vary, so check the table placard or ask the dealer.
Should I take even money?
In a normal game, no. Declining averages about 4% more. House rules can vary, so check the table placard or ask the dealer.
02Math
How often does the dealer have blackjack with an ace up?
About 31% of the time with six decks. House rules can vary, so check the table placard or ask the dealer.
Does even money help at 6 to 5 tables?
It is still a bad bet, though the gap is smaller. House rules can vary, so check the table placard or ask the dealer.
Is it better in single deck?
The edge is slightly smaller, but still against you. House rules can vary, so check the table placard or ask the dealer.
03At the table
Can I take even money after the peek?
No. It is offered only before the dealer checks. House rules can vary, so check the table placard or ask the dealer.
Is even money offered on any hand?
Only on a player blackjack against a dealer ace. House rules can vary, so check the table placard or ask the dealer.
Do card counters take it?
Only when the count shows many tens left. House rules can vary, so check the table placard or ask the dealer.
Sources
- Wizard of Odds — Blackjack insurance Not from a registry (Reference source, not an official registry)The gaming industry’s standard reference for casino-game math, by actuary Michael Shackleford. Not an official registry; our calculators compute these numbers independently. · accessed Oct 14, 2026Insurance and even money math
- Wizard of Odds — Blackjack Not from a registry (Reference source, not an official registry)The gaming industry’s standard reference for casino-game math, by actuary Michael Shackleford. Not an official registry; our calculators compute these numbers independently. · accessed Oct 14, 2026Rules
- Nevada Gaming Control Board · accessed Oct 14, 2026Approved games and gaming revenue reports
- National Council on Problem Gambling — Help and resources Not from a registry (Reference source, not an official registry) · accessed Oct 14, 2026Free, confidential help: call or text 1-800-GAMBLER