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Why? I'd think the whole point of insurance is that everyone (as an average) loses out in the long run?
by geewee 6y ago
Why? I'd think the whole point of insurance is that everyone (as an average) loses out in the long run?
- wccrawford 6y agoBy that same average, everyone loses out on the lottery in the long run, too. But for the few who don't lose, it's worth it. That applies to both insurance and the lottery. The difference, as has already been pointed out, is that insurance prevents a bad scenario, whereas the lottery sometimes results in a good scenario.