Comments on: A Ramble on Gambling vs. Insurance – and a Fun Quiz

By: chicago car insurance

chicago car insurance — Fri, 18 Dec 2009 23:59:08 +0000

Thanks for the post. If you don’t mind my asking, what WP theme are you using? Is it available Free or is it a custom design? Thanks.

By: Steve

Steve — Sun, 31 May 2009 18:33:00 +0000

This is an unsopphisticated view of what insurance is. Insurance is a product that allows one to turn risk of a loss into a predictable expense. It is also a way to be socially responsible. As far as loss mitigation, with life insurance you purchase a promise to have a benificiary receive a payment in the case of loss of life. I have life insurance so that if I die my family will be protected from loss of the income stream that I would produce. This is not a bet. I would never collect, and the risk of death is already there. When gambling a novel risk is created in the course of creating the bet. Auto liability insurance is part of social responsibility. If I am in an accident and someone is injured I probably do not have the funds to pay for medical treatment. Insurance covers the costs I would have caused.

As far as tv sets, if you know you couldn’t afford another tv set if it broke it may make sense to buy coverage to mitigate a future loss. For me, I’d rather get a newer tv.

By: Suresh

Suresh — Fri, 31 Oct 2008 12:24:27 +0000

Great post guys – keep it up

By: dees

dees — Fri, 25 Jul 2008 18:52:55 +0000

travel insurance business travelA Ramble on Gambling vs. Insurance – and a Fun Quiz

By: Costly

Costly — Sun, 16 Dec 2007 21:37:57 +0000

I\’m really impressed with this post excellent post!

By: marc

marc — Mon, 12 Feb 2007 23:17:04 +0000

excellent post Greg! I really enjoyed it.

After the recent unexpected passing of my grandfather, I started to think about the “breakage” on insurance policies that never get paid off because the surviving families don’t know about the policies that may have matured years ago and were not properly tracked.

By: Dad

Dad — Sat, 03 Feb 2007 19:07:57 +0000

As Artie Johnson would say, very interesting.

By: greg

greg — Sat, 03 Feb 2007 18:41:34 +0000

Thanks for the comment Vinny. I’m “all in”!

By: Vinny Lingham

Vinny Lingham — Sat, 03 Feb 2007 04:12:58 +0000

Hi Greg

You what’s scary? I had the exact thoughts you did, after reading your last post! I’m an avid poker player and Pay Per Click arbitrage is one of my better skills, so maybe that’s why, but basically, insurance and betting are almost exactly the same thing in my opinion.

I think that by using sophisticated software that is predictive in nature, applying that to future expected values, and then discounting that into an insurance premium, is almost exactly the same as PPC arbitrage, or Texas HoldEm!

I love what the farechaser guys are doing, and have been following them for some time! Nice post!