Surrender offers the player the choice of folding his hand at the cost of half of his original bet. In order to make this move you must make the decision before you take any other action on the hand. For instance, when you draw a third card, or you split or double down, then surrender is no longer a choice you can make.There are two types of surrender – early and late.
The two differ only in the way a dealer blackjack is handled. With an early surrender game, a player can choose to surrender before the dealer checks his cards if he has a blackjack.
This offers the player a cheap way out even if the dealer turns out to have a blackjack. Because this type of surrender offers a good advantage to the player, an early surrender is rarely offered. The more common type of surrender is called the late surrender, this is where the dealer checks for the blackjack first, and then only when he finds out that he does not have a blackjack will he allow the players to surrender their hands.
A surrender is a great rule to have available for players who are able to exploit its uses wisely. Unfortunately, a lot of players surrender way too many hands. If you play in a game that has a surrender rule, determine how bad a hand must be to make a good surrender.
It also should be mentioned that a big majority of surrenders are late surrenders.