Help a loved one or yourself by fighting addiction today. Search online for inpatient rehab and outpatient services by state at addiction.com. The difference between gambling and insurance Insurance deals with “pure” risk. With pure risk there is the possibility that a certain event will occur, e.g., accident or sickness. What is the difference between insurance and gambling? The purpose of insurance is to restore the insured to his original position, not to afford the injured person the possibility of making a profit. What is the difference between insurance and gambling? (i) For insurance, loss might never occur while for gambling, the bet must happen in order to determine winner or loser. (ii) Insurance involves pure risks while gambling involves speculative risks. (iii) Regular premiums are paid for insurance while for gambling payment is done once.
Insurance Is Gambling, Seriously | Seeking Alpha
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Insurance and gambling was considered alike because there are uncertainty of events and payment is made when the event occurs.As an insurance student, it is necessary for us to be able to pinpoint the difference between insurance and wagering.
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