Joined: 5/24/2010(UTC)
Posts: 9
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Did you know insurance was prohibited in the UK in the 19th Century because it was regarded as gambling. Indeed it is gambling. The insurance company has a good idea of the odds and the customer does not. The insurance company takes the consumers' bets after renaming them "premiums". A Roulette table probably offers better odds than insurance companies. 
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Joined: 6/1/2010(UTC)
Posts: 119
Location: US
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Bracing ourselves here in the States for the Mandatory Health Insurance bill passing to become a reality - basically the government is soon to become the biggest bookie in our history. 
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Joined: 5/24/2010(UTC)
Posts: 14
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Of course insurance is gambling. On the other hand, not having insurance is also gambling.
If I rent a car tomorrow and pay for full damage insurance, I am betting that I will have an accident. (Obviously, this is one bet that I want to lose.)
But if I don't take out the insurance I am betting that I won't have an accident. That is one bet that I may not be able to afford to lose.
Looked at correctly, almost everything is gambling. It is obvious that you are gambling if you play the stock market, but what if you refrain from doing so and instead put your money into "safe" government bonds? You now have a guaranteed, locked in, interest rate -- but if there is inflation you might find that even with the interest your money has less buying power when you cash in those bonds then it did when you bought them. In fact, I would say that by investing in diversified blue chip stocks, and keeping them for long periods, you are taking less of a gamble than you are by buying those bonds.
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Joined: 5/24/2010(UTC)
Posts: 27
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Quote:Looked at correctly, almost everything is gambling. Please don't let the govt know that.
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Joined: 2/13/2014(UTC)
Posts: 22
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This is best information , i have got many points from this post,this is what i was looking from many days.
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