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Gambling is taking risks with an expectation of possible gain. In this case, the risk of never needing insurance is balanced by the gain of whatever is insured
by nkingsy 6y ago
Gambling is taking risks with an expectation of possible gain.
In this case, the risk of never needing insurance is balanced by the gain of whatever is insured if it is lost.
One could argue that this is decreasing risk in exchange for less gain, but that’s still using a tool for balancing risk and gain, aka gambling.
Go too deep and life is gambling.
- JeffL 6y agoGambling at a casino is trading expected value for more variance of outcome. Insurance is trading expected value for less variance.