No. Insurance is to pay for an outcome that the insured did not want. A person with car insurance does not want to get into an accident. A person with health

No. Insurance is to pay for an outcome that the insured did not want. A person with car insurance does not want to get into an accident. A person with health insurance does not want to get sick. A person with home insurance does not want their house to get flooded. A gambler, on the other hand, is indifferent to the outcome of the roulette wheel except for the monetary payout. Same goes for buying options unless there is ownership of the underlying security. A gambler had an incentive to cheat to make the transaction go their way. An insurer has an incentive to help make the event the insured does not want to happen not happen.