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I have been dreaming for years of a casino where gambling results are tied to insured events. Risk averse people would meet people looking for risk. I am not s
by dest 10y ago
I have been dreaming for years of a casino where gambling results are tied to insured events. Risk averse people would meet people looking for risk. I am not sure it is a good idea thought.
One difficulty is the discrepancy in the probabilities of outcome. Insured events are rare and cost a lot. Gambling often cost you a little bit but sometimes you earn a lot.
- ryhamz 10y agoSounds like you want to start an insurance company or a VC firm.
- dest 10y agoI am not sure I want that. When you go to a casino to gamble, your gains expectancy is negative because of the house's cut. You pay to have more risk. When you go to your insurance company, your gains expectancy is negative as well, because the insurance company is profitable. You pay to have less risk. So people pay to have more risk, and other people pay to have less. I'd like to know if those two groups can meet.