If you know the future exactly, then sure. If your knowledge of the future is just in expected values, then it can still make sense. Imagine the radio station d

If you know the future exactly, then sure. If your knowledge of the future is just in expected values, then it can still make sense. Imagine the radio station doing a "we'll give you a million bucks if X happens" promotion, when X is truly random. The radio station doesn't have a million bucks to front that randomness, but the insurance company can do it.