> as once someone is making a profit it can't be a positive-expected-value deal. This isn't true. There are risks an entity with a billion dollars can profitab

> as once someone is making a profit it can't be a positive-expected-value deal. This isn't true. There are risks an entity with a billion dollars can profitably take on that a person with a thousand dollars can't. Insurance can reallocate those risks to leave both parties better off in expectation.