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why dont UK start enforcing the Marine Insurance Act 1745 to combat this or the Life insurance act maybe 1775 this law literally make it illegal to gamble on m
by DaedalusII 6mo ago
why dont UK start enforcing the Marine Insurance Act 1745 to combat this or the Life insurance act maybe 1775
this law literally make it illegal to gamble on marine risk that you do not have direct economic interest in
- colechristensen 6mo agoAre they? Is there a prediction market available in the UK which allows you to place these bets? They're regulated like gambling there.
- roryirvine 6mo agoBookmakers and betting exchanges regulated in the UK have always been pretty careful about not adding unlawful markets. Anything that relies directly or indirectly on the death of a real person is covered outlawed by the Life Assurance Act, so you've never been able to bet on things like fatal crashes in an F1 race or the date of the start of the next monarch's reign. The Marine Insurance Act is a new one on me, but I've never seen anything which would obviously violate that. There's plenty of spread betting on oil, but mostly on prices and volumes, not the fate of individual cargoes.