A blackjack beats any hand that is not a blackjack, even one with a value of 21. Wins are paid out at even money, except for player blackjacks, which are traditionally paid out at 3 to 2 odds. Many casinos today pay blackjacks at less than 3:2.

Blackjack usually pays out immediately. Winning bets are paid even money, meaning you're paid 1:1 on your wager. A 3:2 payout is typically given when you're dealt a natural blackjack. Whether taking even money is the right play is a matter of opinion.