this post was submitted on 06 Oct 2025
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Actually, insurance is like gambling, your goal is just to loose, not to win. Lloyds, the world's first and foremost insurance company started as a London coffee house where rich aristocrats met and bet on the return of ships. This was the pure gambling stage. Merchants soon started to bet that their own ship won't return and the rest is history.
Thats a really dumb analogy.
You could frame anything involving risk as "gambling".
In gambling you potentially profit from risking losses. With insurance you pay to mitigate your risk. Not really similar at all.
So you think getting cancer and having your medical bills paid is winning? Because that's one form of insurance. Sure, if you get into certain types, it can be closer to gambling. But it can be further or closer
Yes. In this framing, where the goal is to lose the bet, getting cancer is winning. Winning the bet is a bad thing.
Sort of – you loose health and win money. It's definitively a win compared to getting cancer and not being able to get treatment.