Insurance

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1. An arrangement among remaining players to end the hand and divide the pot based on an agreed-upon method, made when there are cards remaining to be dealt or revealed in a hand and at least one player is all-in.

2. A proposition bet against oneself winning a particular hand, agreed upon with a person not in the hand when there are cards remaining to be dealt or revealed and at least one player is all-in.

3. A “business” deal in which players agree to split or reduce a pot (roughly in proportion to the chances of each of them winning) with more cards to come rather than playing out the hand, or else a deal where one player makes a side bet against himself with a third party to hedge against a large loss.

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