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> In gambling you pay someone to take risk for you. No, you don't, you take the risk yourself. You're certainly not paying the casino to take risks for you; yo
by pdonis 2y ago
> In gambling you pay someone to take risk for you.
No, you don't, you take the risk yourself. You're certainly not paying the casino to take risks for you; you're paying them for the privilege of you taking risks (and losing on average) by playing their games.
- adw 2y agoYou’re paying them to take the higher variance end of a swap. That is exactly the same transaction as insurance, complete with the same pricing model.