This type of bet is typically placed when a player has made a larger wager, such as a Pass Line or Don’t Pass bet, and wants to hedge against an unfavorable outcome. It is usually made by placing a smaller bet on the opposite outcome to cover potential losses. While an Insurance Bet can reduce the risk of losing the entire wager, it also limits the overall profit potential since winning the main bet may only result in a minimal gain due to the offset.
Insurance Bet Example
For example, if a player has $100 on the Pass Line and is concerned about a loss, they might place a $20 Insurance Bet on the Don’t Pass line to mitigate a potential loss if the shooter rolls a losing number.