Topic: Is there any insurance service for gamblers to retain heavy losses....??? - page 10. (Read 6882 times)
December 19, 2020, 03:09:21 PM
For insurers，profitable is the first principle， i reckon there is a lot of risk in providing insurance service for gamblers，the risks outweigh the benefits，and this why insurance don't have such coverage.
November 20, 2020, 07:25:05 PM
There is no way an insurance will be available for such carwless activities. Insurances are made for situations that are unprecedented and unwanted by the owner. Sure losses are unwanted but they are very much precedented as everyone should be aware that when gambling, you will always lose. If you want a good insurance policy try learning self-control. It's free and it gets the job done.
Insurance have too many limits and rules to follow before you can claim anything, there are investigation needed with the help of other agencies for investigation like if due to accidents or due to medical problems. Doing gambling will be based on our own will and mostly it guarantees loss that win so there are no companies who will try to do such service, though casinos have their own programs with certain limits too that they provide in some of their games when we Google it like blackjack insurance and etc. Quite simple to hear but yes, insurance is a complex business.
Don't know any company offering insurance for gamblers.
The concept is good as it is like a savings account for gamblers.
But how to prepare the procedures of claiming and other insurance-related things will be tough one.
Underwriters need to be smart in order to give fair compensation to these gamblers.
November 20, 2020, 06:24:58 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.
It would be a good idea since the essence of insurance is to protect the insured from financial loss.Gamblers do risk their money, they gamble with the amount of money they can risk to lose or the amount of money they have. If they lose a huge amount of money, then this is clearly their own choice but with the help of this insurance they can start again, they may be able to receive at least a little amount from their insurance.
November 20, 2020, 05:29:46 PM
There is no way an insurance will be available for such carwless activities. Insurances are made for situations that are unprecedented and unwanted by the owner. Sure losses are unwanted but they are very much precedented as everyone should be aware that when gambling, you will always lose. If you want a good insurance policy try learning self-control. It's free and it gets the job done.
Cashback or rakeback are features that had been integrated internally on gambling sites but returns wont really that for you to bother since it is really just smallbut talking about services that do give outs insurances for gambling lossers? who would be on the right mind to give this out.
So dont expect that we would see something like this and i agree that having self control would really be enough on saving up your
ass out on gambling losses and addiction.
November 20, 2020, 05:14:47 PM
There is no way an insurance will be available for such carwless activities. Insurances are made for situations that are unprecedented and unwanted by the owner. Sure losses are unwanted but they are very much precedented as everyone should be aware that when gambling, you will always lose. If you want a good insurance policy try learning self-control. It's free and it gets the job done.
November 20, 2020, 03:24:15 PM
As far as I know such insurance service doesn't exist. It would be just to risky and I don't know how could be that even profitable so I don't know how could anyone decide for such business idea. Besides, to my opinion that would only encourage gambling addiction so impact wouldn't be acceptable.
I would say rakeback or cashback is the only option a gambler has to gain some of the lost amount. The thread was opened in 2017 and there might be not many casinos that offer such services but now almost every casino and some even sportsbooks offer rakeback for users and there are varius other perks for high rollers.I believe players should actually consider checking the VIP program before starting their betting because at times some casino offer more rakeback but they earn more via higher house edge while there are some casinos that will offer lower rakebacks but they offer minimal house edge so it depends on us which one suits us better.
November 19, 2020, 06:25:18 PM
It is not necessary to have insurance for gambling losses. Most casinos already offer rakeback or some other reward system based on the amount of money you have wagered. It is not just online casinos but physical ones also reward high rollers with comps. This should be good enough. If you give players another way to receive a bail out it might encourage reckless behavior.
November 19, 2020, 06:16:53 PM
As far as I know such insurance service doesn't exist. It would be just to risky and I don't know how could be that even profitable so I don't know how could anyone decide for such business idea. Besides, to my opinion that would only encourage gambling addiction so impact wouldn't be acceptable.
Its suicide for those insurances that do offer such service on putting up in on gambling business which is really prone for lots of people who get wrecked.
So its no brainer that we cant see any insurances in regards to this industry because it is really just be ending up on having some charity works yet most of the money will
just be taken out easily by claims.
Dont expect for these things to exist.
November 19, 2020, 06:13:29 PM
This is a thread that's been started by me years back. Once again I would like to take this into discussion, because more the existence of gambling sites more is the addiction. It is a must to make some innovative plans, so that the gamblers doesn't want to restrict themselves from gambling. Maybe this can help the gamblers as well as the dependent of the gamblers.
partially reading these two articles(link below) it seems that insuring a gambling loss is too much of a risk for insurance agencies to offer and according to the article, gamblers can continually lose money when gambling and insurance will have a hard time covering it for a long period of time.
https://blindinbusiness.co.uk/is-there-insurance-for-gambling-losses
https://insurance.lovetoknow.com/misc-insurance/can-i-insure-my-betting-losses
I have read those articles, however I still think that insurance can be applied for your heavy loses indirectly in some conditions depends on how you determines that “heavy loss”.
1. Heavy loss because of the gambling company doesn’t pay you for the cashback bonus from percentage of your loss.
2. Heavy loss related to mental health. It is still a loss right?
There is a bunch of strange insurance nowadays. Athletes and celebrities usually insure parts of their body. So, I think gambling won’t be a strict “no” for an insurance application.
November 19, 2020, 06:07:41 PM
Having an insurance scheme sounds so much like a good idea but I doubt it could ever be implemented. Not very many persons are proud of betting and the few huge bettors care very little about the state of their finance and most times they make these bets, they always have the mindset of the fact that, like the bets between Joe Biden and Donald Trump. It's obvious a lot of persons expected to Trump to emerge victorious and that's where most of the bets went but, at the end, we all saw what happened. So, having this sort of mindset is going to make this insurance thing unrealistic.
November 19, 2020, 01:34:14 PM
It is a must to make some innovative plans,
innovative plans must be from gambler itself and not from anyone else.Imagine having this request of yours meaning that being a Addict gambler must have some insurance?you are doping stupid thing and you want others to provide for you?
if this will happen then expect another Tons of new addict will rise because now they can generate some amount while spending their money in gambling.
This will poke out your mind that you do still have something to get even though you lost it all rather than on quitting completely or do play for entertainment.
You would really get that too confident on what you've been doing but we do know all that this kind of feature or service wont really be possible for a
gambling site to give or any.
November 19, 2020, 01:19:39 PM
It is a must to make some innovative plans,
innovative plans must be from gambler itself and not from anyone else.Imagine having this request of yours meaning that being a Addict gambler must have some insurance?you are doping stupid thing and you want others to provide for you?
if this will happen then expect another Tons of new addict will rise because now they can generate some amount while spending their money in gambling.
November 19, 2020, 01:16:30 PM
This is a thread that's been started by me years back. Once again I would like to take this into discussion, because more the existence of gambling sites more is the addiction. It is a must to make some innovative plans, so that the gamblers doesn't want to restrict themselves from gambling. Maybe this can help the gamblers as well as the dependent of the gamblers.
partially reading these two articles(link below) it seems that insuring a gambling loss is too much of a risk for insurance agencies to offer and according to the article, gamblers can continually lose money when gambling and insurance will have a hard time covering it for a long period of time.
https://blindinbusiness.co.uk/is-there-insurance-for-gambling-losses
https://insurance.lovetoknow.com/misc-insurance/can-i-insure-my-betting-losses
I have read those articles, however I still think that insurance can be applied for your heavy loses indirectly in some conditions depends on how you determines that “heavy loss”.
1. Heavy loss because of the gambling company doesn’t pay you for the cashback bonus from percentage of your loss.
2. Heavy loss related to mental health. It is still a loss right?
There is a bunch of strange insurance nowadays. Athletes and celebrities usually insure parts of their body. So, I think gambling won’t be a strict “no” for an insurance application.
November 19, 2020, 01:08:23 PM
The name of it doesn't need to be insurance but you could potentially leave a bit more at the table either you win or not for a bigger rebate. Like let's say you gamble for 100 dollars and play on a 1% house edge place, which means if you lose you lose 100 dollars but if you win you win 99 dollars.
Think of a scenario where it is higher, let's say if you lose you lose 100 dollars but if you win you get 95 dollars, that 1% goes to house edge and the rest may go towards "insurance" and in case if you lose it could become 99 dollars loss with 1 dollar back in that case, which would make insurance company a bigger profit and gambler would lose a lot more, but instead of getting it back each time, you could get it when it reaches 100 dollars. That way you play with higher house edge but you get 100 dollars back after 100 rounds. It makes no sense but when I thought about "gambling insurance" this is what I imagined it would be like.
Think of a scenario where it is higher, let's say if you lose you lose 100 dollars but if you win you get 95 dollars, that 1% goes to house edge and the rest may go towards "insurance" and in case if you lose it could become 99 dollars loss with 1 dollar back in that case, which would make insurance company a bigger profit and gambler would lose a lot more, but instead of getting it back each time, you could get it when it reaches 100 dollars. That way you play with higher house edge but you get 100 dollars back after 100 rounds. It makes no sense but when I thought about "gambling insurance" this is what I imagined it would be like.
November 19, 2020, 12:46:23 PM
This is a thread that's been started by me years back. Once again I would like to take this into discussion, because more the existence of gambling sites more is the addiction. It is a must to make some innovative plans, so that the gamblers doesn't want to restrict themselves from gambling. Maybe this can help the gamblers as well as the dependent of the gamblers.
partially reading these two articles(link below) it seems that insuring a gambling loss is too much of a risk for insurance agencies to offer and according to the article, gamblers can continually lose money when gambling and insurance will have a hard time covering it for a long period of time.
https://blindinbusiness.co.uk/is-there-insurance-for-gambling-losses
https://insurance.lovetoknow.com/misc-insurance/can-i-insure-my-betting-losses
November 19, 2020, 12:39:39 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.
That's an outrageous idea I don't think you can find one, no insurance company will ever insure a gambler's loses, because they know that gamblers lose every night, they will lose money if they create one, if a gambler do not want to lose huge amount of money then do not gamble big amount of money and just play for fun
Some sites gave rakeback to the gamblers after achieving their vip status that's agood consolations after playing
around and wagers good amount of money. But with this OP's sentiments, it would be hard for any businessman
out there to take such kind of risk knowing that from time to time gamblers have the same attitudes.
It's more on personal control, if you are not willing to lose your money better not to gamble or just bring the amount that you are willing
to risk never to add any to avoid losing more
November 19, 2020, 12:32:43 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.
That's an outrageous idea I don't think you can find one, no insurance company will ever insure a gambler's loses, because they know that gamblers lose every night, they will lose money if they create one, if a gambler do not want to lose huge amount of money then do not gamble big amount of money and just play for fun
I had never heard something like this and did not find yet any company that is doing any insurance. Also, the reason is that it is bound for gambler to make losses because this is not something new. Medical insurance for patients who say have some major disease and knows that might not survive for too long under such cases insurance is not given in the same way for gambling insurance would not be given because even insurance company knows in end they players may end up losing than winning it.
November 19, 2020, 12:09:40 PM
If there is a company that can provide insurance for betting losses, then most likely the company has a motive for carrying out an insurance fraud scheme. This fake insurance company will try to deceive its victims by offering insurance but with no intention of paying claims filed by its customers.
Betting has a high level of risk because we might lose that money and there is no definite guarantee to win when placing a bet. By considering these risks, there will be no insurance company that would provide insurance services for betting losses.
Betting has a high level of risk because we might lose that money and there is no definite guarantee to win when placing a bet. By considering these risks, there will be no insurance company that would provide insurance services for betting losses.
November 19, 2020, 11:07:28 AM
I really don't think any insurance service will accept gamblers about their bets if that's the case the insurance company will be in risk since the bettors will just placed a big bet since the bettor knows that the bet is insured. Well if there were such service I'm pretty sure all of the players will have an insurance already.
November 19, 2020, 10:41:02 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.
That's an outrageous idea I don't think you can find one, no insurance company will ever insure a gambler's loses, because they know that gamblers lose every night, they will lose money if they create one, if a gambler do not want to lose huge amount of money then do not gamble big amount of money and just play for fun
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