Insurance in poker tournaments, what is it?

[BlueBear]

Can somebody explain to me the concept of insurance in poker tournaments when one tries to hedge his/her risk? Does anybody have any examples and why have people stopped doing this?

[EnderW27]

It's when you're playing seven card stud and your opponent is showing an ace. The dealer can offer you even money on the pot if you think one of your opponent's hole cards is a ten.

[Jedi Flopper]

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It's when you're playing seven card stud and your opponent is showing an ace. The dealer can offer you even money on the pot if you think one of your opponent's hole cards is a ten.

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