A wagering proposition with even odds – the bettor stands to lose or win the same amount of money. When a player has a Natural hand, and the Dealer has an Ace Up card, that player may request and receive an 1:1 payout on his hand.

When the dealer shows an ace and the player has a blackjack, the player can opt for even money and is paid immediately at 1:1. This is just a version of insurance, not a different bet. If the dealer has blackjack, the hand is a push, but the player receives two times the value of the insurance, which is the same as the original bet. If the dealer does not have blackjack, the player wins 1.5 times the value of the original bet but loses the value of the insurance, and still ends up with the value of the original bet.