Insurance Bet (craps)
Two or more wagers made at a crap table in an attempt to insure
one or the other.
Insurance Bet (poker)
In big bet poker, it is possible to reach a situation in which
you are uncomfortable with the
amount of money you have invested in a pot. To reduce variance,
players will sometimes take
insurance against an unfortunate outcome, essentially selling
the actual outcome of the hand for its mathematical equity (at
a slight discount).
