Well if a gambler is worried of possible losses then dont gamble. You should have a lot of guts to face the consequences if you happen to lose. Hence we need to be more responsible by controlling ourselves. Insurance is good but whats more better is be a gambler that knows his limit.
You are correct but that does not stop gamblers from imagining a service like this, in a way it is no different than when they imagine themselves gambling at the casino and winning all the time, that is not possible either as if that was the case then the casino will not be able to maintain itself in business, so the fact the casino is there means that it is built on the losses of its customers, so we must just ignore the voices that want something like this as it is never going to happen. 
Topic: Is there any insurance service for gamblers to retain heavy losses....??? (Read 6882 times)
January 28, 2021, 07:53:46 PM
January 25, 2021, 06:03:24 PM
If there will be such insurance companies that will offer it, I don't think that it will ever be in favor of the gamblers that would want to avail the insurance.
It's favoring the company than the insurance buyers.
It's favoring the company than the insurance buyers.
Isn't it always the case when it comes to insurance? Not just if it will be applied in gambling but on other insurance as well.
There is no way an insurance company will offer something if it won't return a good return to them. But for gambling, it's hard to implement that as every day, people are losing to gambling. It's a loss that happens regularly and consistently, different from the usual things that insurance mostly covered.
January 25, 2021, 05:25:57 PM
No insurance companies will provide a service like this since it's uncontrallbleand it's a personal will of the people, I doubt there will be a legal company who will implement such products that can make their company at loss. Maybe those who also own casinos will do that but with too many rules, classification, steps etc and with high premium since it's quite impossible to provide insurance for gambling.
If there will be such insurance companies that will offer it, I don't think that it will ever be in favor of the gamblers that would want to avail the insurance.There will be more of the cons than the pros that they'll offer it.
It's favoring the company than the insurance buyers.
But that's just an if statement.
January 25, 2021, 05:04:30 PM
Despite this idea, I don't agree with it.
Yeah, it is a great idea but if we will be thinking about it, don't you think gamblers would just take advantage of these services and don't mind their health when it comes to gambling? Instead of supporting them to gamble their money, we should be doing something that makes them in control of their money that is for the better of their lives.
January 25, 2021, 04:15:49 PM
any insurance service that tries to do that, will either end up having to put some ridiculous rules to let themselves from getting out of paying their customers (just like all the other insurance services for other things) or they will go bankrupt very soon because of all the reimbursements they have to make.
Yes they will never do that because they lost also the money because players will play more once they have like this service because they will get again some of their money once they lost big but how about winning the team of the gambling sites thes also reinburse when they win so I think it's fair enough to don't have this because players is responsible for their own money or need to control in playing I agree with you. If we as gamblers had such an insurance we wouldn't care anymore about the risks. And would just be going all in all the time. That is why there are special laws in place to protect your insurance companies. For example if you drive recklessly and destroy your car than the insurance company is not going to cover the cost. If you have control over the probability of an insurance event happening you will also have to take most of the risk.
just to get their claims.So its understandable on what they are making out rules for those situations.In gambling where risk is always in all angle then they
wont really be making a business with it.Insurance? they are making business not a charity, if they do then they would need to prepare lots of money
since we know that gamblers are always on the losing side.
January 25, 2021, 10:17:26 AM
any insurance service that tries to do that, will either end up having to put some ridiculous rules to let themselves from getting out of paying their customers (just like all the other insurance services for other things) or they will go bankrupt very soon because of all the reimbursements they have to make.
Yes they will never do that because they lost also the money because players will play more once they have like this service because they will get again some of their money once they lost big but how about winning the team of the gambling sites thes also reinburse when they win so I think it's fair enough to don't have this because players is responsible for their own money or need to control in playing I agree with you. If we as gamblers had such an insurance we wouldn't care anymore about the risks. And would just be going all in all the time. That is why there are special laws in place to protect your insurance companies. For example if you drive recklessly and destroy your car than the insurance company is not going to cover the cost. If you have control over the probability of an insurance event happening you will also have to take most of the risk.
January 25, 2021, 08:25:16 AM
Yes, gamblers who are much addicted will take it as an opportunity and spend good on gambling without thinking about the losses. Maybe it requires certain restricted framework, terms and conditions so that it could limit them. Everything has got advantage and disadvantage. Maybe this can help the family that is behind the person who has lost all through gambling.
Indeed, insurance is business as well thus they wont enter into a situation where they cant gain anything. But I think its unlikely to have an insurance meant for gamblers, I wonder what could be the terms and condition. Well if a gambler is worried of possible losses then dont gamble. You should have a lot of guts to face the consequences if you happen to lose. Hence we need to be more responsible by controlling ourselves. Insurance is good but whats more better is be a gambler that knows his limit.
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January 25, 2021, 05:32:28 AM
Yes, gamblers who are much addicted will take it as an opportunity and spend good on gambling without thinking about the losses. Maybe it requires certain restricted framework, terms and conditions so that it could limit them. Everything has got advantage and disadvantage. Maybe this can help the family that is behind the person who has lost all through gambling.
I think that is what the insurance company think and they will need to pay big money to the gamblers who are already losing too much money. But I guess that the insurance company will not easily give the money to the gamblers, and they will investigate why the gamblers can spend too much money on gambling. If the gambler uses it to get their money from the insurance money, they will not agree to give the money to them. Maybe there will need more discussion between the insurance company and the casino and maybe they can invite the gamblers to join in that discussion.
January 24, 2021, 07:58:21 PM
This product does not mean encouraging the gamblers to gamble more. This is only in place so that these gamblers will have to reduce their losses. But it does not mean that other efforts such as taking care of their health or minimizing gambling is set aside. This is just another product for their protection.
That is true.
Although you should know that despite the main reason for this project or service, gamblers will obviously take this as an advantage for their addiction. They are getting money from these services which means adding more amount of money that they could gamble. And since this is just insurance for their money, the mental health of these gamblers are still at risk.
January 24, 2021, 07:37:38 PM
I agree, it seems the idea behind all of this is to help gamblers avoid losing all their money when they are gambling in the casino, which is a nice objective but this is not the way to do it, insurance companies are in it for the business side of it, they are not charities, but unfortunately despite the existence of many groups of people dedicated to help addicted gamblers to recover the first step still have to be made by them, if they do not recognize that they are addicted to gambling then they are never going to look for help.
Who are those groups that you've been talking into?No one will help out in terms of financial.yes, they might able to hear off with some advises but those are only good on that part and the rest would really be not on their business to help you with money.
Businesses like Insurance company arent on their right minds to do things like this on where building up some or giving out some service into an industry where losses is always been happening.
They are indeed here to make money and not to be milked out something like on supporting those gamblers to take at least back of their overall loss.It doesnt really make any sense.
January 21, 2021, 05:12:45 AM
This product does not mean encouraging the gamblers to gamble more. This is only in place so that these gamblers will have to reduce their losses. But it does not mean that other efforts such as taking care of their health or minimizing gambling is set aside. This is just another product for their protection.
That is true.
Although you should know that despite the main reason for this project or service, gamblers will obviously take this as an advantage for their addiction. They are getting money from these services which means adding more amount of money that they could gamble. And since this is just insurance for their money, the mental health of these gamblers are still at risk.
January 20, 2021, 03:12:49 PM
I have been thinking of an insurance service for gamblers, in which they were supposed to pay regular premiums. And while placing bets can get back at least a small amount back if the lost amount is a huge one. Myself too haven't come across such services. What you people think of an insurance for gambling.
Your intention is good actually for the gamblers, where there is a cashback similarity in the insurance you are talking about.
But just like what the other said, never gamble what you can't afford to lose this was most often mentioned. But who knows if some of the
gambling owner read your opinion to this, this might gonna be a good tips.
Despite this idea, I don't agree with it.
Yeah, it is a great idea but if we will be thinking about it, don't you think gamblers would just take advantage of these services and don't mind their health when it comes to gambling? Instead of supporting them to gamble their money, we should be doing something that makes them in control of their money that is for the better of their lives.
No one will help out in terms of financial.yes, they might able to hear off with some advises but those are only good on that part and the rest would really be not on their business to help you with money.
Businesses like Insurance company arent on their right minds to do things like this on where building up some or giving out some service into an industry where losses is always been happening.
They are indeed here to make money and not to be milked out something like on supporting those gamblers to take at least back of their overall loss.It doesnt really make any sense.
January 20, 2021, 02:16:07 PM
I have been thinking of an insurance service for gamblers, in which they were supposed to pay regular premiums. And while placing bets can get back at least a small amount back if the lost amount is a huge one. Myself too haven't come across such services. What you people think of an insurance for gambling.
Your intention is good actually for the gamblers, where there is a cashback similarity in the insurance you are talking about.
But just like what the other said, never gamble what you can't afford to lose this was most often mentioned. But who knows if some of the
gambling owner read your opinion to this, this might gonna be a good tips.
Despite this idea, I don't agree with it.
Yeah, it is a great idea but if we will be thinking about it, don't you think gamblers would just take advantage of these services and don't mind their health when it comes to gambling? Instead of supporting them to gamble their money, we should be doing something that makes them in control of their money that is for the better of their lives.
January 20, 2021, 09:52:45 AM
I have been thinking of an insurance service for gamblers, in which they were supposed to pay regular premiums. And while placing bets can get back at least a small amount back if the lost amount is a huge one. Myself too haven't come across such services. What you people think of an insurance for gambling.
Your intention is good actually for the gamblers, where there is a cashback similarity in the insurance you are talking about.
But just like what the other said, never gamble what you can't afford to lose this was most often mentioned. But who knows if some of the
gambling owner read your opinion to this, this might gonna be a good tips.
Despite this idea, I don't agree with it.
Yeah, it is a great idea but if we will be thinking about it, don't you think gamblers would just take advantage of these services and don't mind their health when it comes to gambling? Instead of supporting them to gamble their money, we should be doing something that makes them in control of their money that is for the better of their lives.
Of course they would take advantage of this service. Why wouldn't they? This is to their advantage and financial protection. If such a service is offered, it is first and foremost offered to the heavy gamblers.
This product does not mean encouraging the gamblers to gamble more. This is only in place so that these gamblers will have to reduce their losses. But it does not mean that other efforts such as taking care of their health or minimizing gambling is set aside. This is just another product for their protection.
January 20, 2021, 05:57:42 AM
I have been thinking of an insurance service for gamblers, in which they were supposed to pay regular premiums. And while placing bets can get back at least a small amount back if the lost amount is a huge one. Myself too haven't come across such services. What you people think of an insurance for gambling.
Your intention is good actually for the gamblers, where there is a cashback similarity in the insurance you are talking about.
But just like what the other said, never gamble what you can't afford to lose this was most often mentioned. But who knows if some of the
gambling owner read your opinion to this, this might gonna be a good tips.
Despite this idea, I don't agree with it.
Yeah, it is a great idea but if we will be thinking about it, don't you think gamblers would just take advantage of these services and don't mind their health when it comes to gambling? Instead of supporting them to gamble their money, we should be doing something that makes them in control of their money that is for the better of their lives.
January 20, 2021, 05:43:18 AM
In the end, the gambling industry is not very suitable for insurance companies, because it is very unlikely that the insurance company will make
a profit in the gambling industry. According to statistics it is clear the number of gamblers who experience losses when playing gambling is more,
compared to the number of gamblers who win gambling games.
So if there is an insurance company that dares to provide insurance to gamblers who experience losses, then the amount of money spent by
the insurance company will of course be more than the premium payments received. Logically, it is clearly not profitable, so the conclusion will be
that no insurance company will dare to bear the losses experienced by gamblers.
And there is no more telling evidence that this is correct than what we see in the market already, is there any insurance company willing to take that kind of business right now? And the answer is no which should make clear that there is no money to be made there despite the fact that insurance companies will try to insurance anything as long as there are profits they can get, and example of this is the covid pandemic, at least where I live medical insurance already covers medical costs if you get covid and yet they will not touch gambling no matter what.a profit in the gambling industry. According to statistics it is clear the number of gamblers who experience losses when playing gambling is more,
compared to the number of gamblers who win gambling games.
So if there is an insurance company that dares to provide insurance to gamblers who experience losses, then the amount of money spent by
the insurance company will of course be more than the premium payments received. Logically, it is clearly not profitable, so the conclusion will be
that no insurance company will dare to bear the losses experienced by gamblers.
That made me think as well, I mean no insurance company ever created an insurance for gambling money and these two, gambling and insurance, has been with us for a long time now. I mean anywhere in the world we do not see any insurance company setting that up and profiting greately from it. Someone might try that but he needs to do it in a country with a large population of gamblers paying a monthly fee and then try to make all the necessary mathematics to compute whether it is profitable or not. It is a must see.
January 15, 2021, 05:40:36 PM
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I don't see how an insurance company can knowingly calculate the risks of losing money from a person who regulates these risks himself.
this is the same on other types of insurances , how can they also know that the car will get damage or the person will get to an accident ? there is no way to calculate risk . January 13, 2021, 08:12:43 AM
Good point. If there's no data available then there's nothing to base whether the business will have a good profitable outcome.
Businessman always relied with possibilities and potentials before starting their ventures in any types of business, if this information is not available then it will be tough and very risky not knowing where to base your potential profits.
This is what we called as the business risks. In the world of business this is just natural and life with business is reay tough and challenging. In so many cases, especially the start up business will fail but if the one who manage it endure and learn from the mistakes it will become successful over a period of time. This is really what happen to almost all in business that are successful nowadays starting from the scratch or small time. Businessman always relied with possibilities and potentials before starting their ventures in any types of business, if this information is not available then it will be tough and very risky not knowing where to base your potential profits.
January 13, 2021, 07:10:33 AM
they have stats accumulated throughout the years. car insurance has been here for so long already. so basically, they have records and stats already. whereas in gambling, where do you pull those stats? casinos dont disclose such stats of their players. for online players, you can easily see your stats. but are these casinos willing to disclose these data to insurance providers?
right now, venturing in this type of insurance is very much complex. so they dont want to explore their opportunities in the gambling area.
Good point. If there's no data available then there's nothing to base whether the business will have a good profitable outcome.
Businessman always relied with possibilities and potentials before starting their ventures in any types of business, if this information is not available then it will be tough and very risky not knowing where to base your potential profits.
January 13, 2021, 06:57:12 AM
I don't think this economic model has any right to live. That is, from time to time a person risks very much or very little. I don't see how this can be put into a mathematical model. 
if there are other types of insurances ex. car and health related. why not this , and no we dont have the rights to dictate if they can exist of not . we are no experts on this field , thats why we think it wont work but they can think better than us and maybe they can make this possible in the future if ever there isnt any available
Quote
I don't see how an insurance company can knowingly calculate the risks of losing money from a person who regulates these risks himself.
this is the same on other types of insurances , how can they also know that the car will get damage or the person will get to an accident ? there is no way to calculate risk .they have stats accumulated throughout the years. car insurance has been here for so long already. so basically, they have records and stats already. whereas in gambling, where do you pull those stats? casinos dont disclose such stats of their players. for online players, you can easily see your stats. but are these casinos willing to disclose these data to insurance providers?
right now, venturing in this type of insurance is very much complex. so they dont want to explore their opportunities in the gambling area.
You mean those statistics that showing up your total bets, wager, profit and loss? Majority of gambling sites now do display those kind of information on a certain player
but of course they do have some feature which you can hide off those statistics.
Even if those insurance company would able to see those numbers but still it wont really be them to be that dumb on making a business with gambling industry.
They are just trying to hammer out their own heads if they do able to do so.
Gambling do majorly involves losing and users getting wreck and they cant just afford to grant those claims actively.Its not sustainable.
The thing with insurance companies is that usually don't offer tailor made insurance policies. They work on an aggregate level and offer policies that are usually similar for everybody. Only small adjustments are usually being made based on age. For example retirement funds offer the same policies to men and woman even though the life expectancy of woman is higher and they will likely get more money from the policy. Making special policies die gamblers based on their track record seems to specific for me.
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