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I think the main difference is: In gambling, you want the payout. In insurance, you probably don’t. Why? Because you don’t want that bad thing to trigger it (i
by scott_w 2y ago
I think the main difference is:
In gambling, you want the payout. In insurance, you probably don’t. Why? Because you don’t want that bad thing to trigger it (illness, property damage, death).
- beaeglebeachedd 2y agoA smart gambler might not care about the payout. For instance, if I have a business that partially depends on election of a candidate I may bet against them winning so i recoup my investment if they lose.
- scott_w 2y agoThat’s using gambling to hedge your business position, not insuring your business against the potential loss. The bet is only tangentially related your business. If your candidate wins but the revenue you thought you’d get doesn’t materialise, you’d probably wish you’d won your bet instead.