Is Insurance a form of Gambling?

It's all about risk. Insurance: Alice has a car and drives it every day. Alice might get into an accident. Alice buys insurance from Bob. Alice pays money to transfer her risk to Bob. read more

In insurance, fear is what leading you, in gambling, greed is what leading you. In insurance, the best you can get is to restore your status before the incident happen, in gambling the best you can get is a windfall of money. read more

Compare Health and Life Insurance to Gambling. Risk is the possibility (uncertainty) that a loss might occur, and it is the reason people buy insurance. Some people think the risk you take with insurance is the same as the risk involved with gambling. The risk in gambling is “speculative” risk. read more