Quote:
Originally Posted by RS67
Both are based on risk. Just that the risk is less predictable than the other. Anything that involves risk is a gamble, regardless of what you like to call it. Only real difference is that with insurance, both parties are hoping there won't be a claim where as with gambling, one the customer is hoping for a win whilst the party taking the bet is hoping the customer loses
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I do understand your point but that really isn’t how insurance works. Yes, there is risk, but it’s spread across the whole industry to mitigate it.