One of the options in the blackjack game that few players know is what is called “surrender” and while in many casinos is not allowed, the type of game exists. Basically is that after receiving your first two cards, if the player does not like the odds are not in their favor, and knows that it failed to beat the dealer, you can announce the surrender. The dealer then you get those cards from the table and remove half the value of the bet made by the player.
Late Surrender is when the dealer checks for Blackjack. The player always has to announce the surrender before the dealer add cards to the first round.
Usually this type is not accepted because this way they would play only hands that are known to expire at the casino, reducing the chances of it to make a profit.