*> In gambling you pay someone to take risk for you.* No, you don't, you take th... | Hacker News

Hacker Newsnew | past | comments | ask | show | jobs | submit

		pdonis on June 9, 2024 \| parent \| context \| favorite \| on: What makes gambling wrong but insurance right? (20... > In gambling you pay someone to take risk for you. No, you don't, you take the risk yourself. You're certainly not paying the casino to take risks for you; you're paying them for the privilege of you taking risks (and losing on average) by playing their games.

adw on June 10, 2024 [–]

You’re paying them to take the higher variance end of a swap. That is exactly the same transaction as insurance, complete with the same pricing model.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact