Early and Late Surrender

At a cost of half his bet, the surrender rule gives the player a chance to literally surrender his hand after the dealer checks cards for blackjack. This rule is usually called “late surrender” as opposed to the “early surrender” rule practiced by the first Atlantic City casinos where the player was allowed to surrender prior to the moment the dealer has already checked his hole card for blackjack. The early surrender is generally no longer practiced due to the great disadvantage it offers to the house but variations are still practiced in some countries.
It is rarely worthwhile for a player to late surrender his hand. Even a hand that offers less than a 25% chance of victory is more likely to offer a better return than surrendering half of his bet. It is often worthwhile for a player to early surrender his hand though – many players would choose to surrender against a dealer ace given the opportunity.