Is there any insurance service for gamblers to retain heavy losses....??? - page 3.

chaser15

legendary

Activity: 2688

Merit: 1065

Undeads.com - P2E Runner Game

Quote from: ecnalubma on January 04, 2021, 01:20:56 PM

Yeah its cool for online casinos to have this nice feature, cashback is such a big deal for gamblers because probably most gamblers suffer big losses. Though its not big but will definitely help gamblers restore some dignity and confidence in betting.

Cashback is not just a simple "cashback".

There is a certain condition or requirement for this. It's not an automatic payout of the supposed percentage of what is lost.

A good feature but we can't hide the fact that this isn't an attractive one.

ecnalubma

sr. member

Activity: 1526

Merit: 420

Quote from: covfefe_ on January 04, 2021, 08:08:26 AM

Some sites do provide cashback on your loses. Betfury is one of them. Users gets 2 to 25% of their lost money. That's one of the highest I've seen on gambling website for new users as well as for whales.
You may argue, that is much less than you lose but all of the insurance works on the same way. The higher the risk, the lesser would be the insurance and lower the risk, the higher would be the insurance.

Yeah its cool for online casinos to have this nice feature, cashback is such a big deal for gamblers because probably most gamblers suffer big losses. Though its not big but will definitely help gamblers restore some dignity and confidence in betting. Its primary example that online casinos treat their loyal users as an asset.

covfefe_

full member

Activity: 935

Merit: 105

Some sites do provide cashback on your loses. Betfury is one of them. Users gets 2 to 25% of their lost money. That's one of the highest I've seen on gambling website for new users as well as for whales.
You may argue, that is much less than you lose but all of the insurance works on the same way. The higher the risk, the lesser would be the insurance and lower the risk, the higher would be the insurance.

iTradeChips

hero member

Activity: 1792

Merit: 536

Leading Crypto Sports Betting & Casino Platform

That is an interesting concept. Having insurance for gambling money. My question I think on this, my only question really is how does the company profit from this? There is really nothing to lose if such a company will be setup. Then do most in enticing gamblers to gamble and make sure that they win and not lose. I think if they pay a fee , a very big fee then that would ensure that the business will survive. Good luck setting it up.

Mauser

hero member

Activity: 1694

Merit: 516

Quote from: bakasabo on January 04, 2021, 06:11:25 AM

Quote from: MCobian on January 04, 2021, 03:33:25 AM

It is true that very many countries prohibit gambling and blacklist all gambling-related companies. This applies in my country, for this reason
maybe insurance companies don't want to take risks by engaging in gambling activities. I believe that all insurance companies want to be accepted
in all countries, therefore they must maintain their image by not getting involved with gambling.

Why would even insurance companies be involve in gambling? As I understand, insurance is a protection, for which you pay premium, against change of its original condition.

The guy from first post wants to place a bet, if he wins - it is ok, if he losses, he wants insurance company to recover his losses. It is a win=win situation for him, while there is almost no logical explanation for insurance company to get involved into such thing. It is like just throwing away money. How much usually insurance policy premium is? Just a couple of % of sum insured. For example he want to make a $1000 bet, and will pay $20-30 for insurance. In case he wins, company earns 20-30$, in case he losses, company losses $1000. There is not point of doing such a business

Risks are not equal.

Also if a company would offer such an insurance than the premium the OP would have to pay would exceed the amount he would get back when he loses. An insurance company is an ordinary company that needs to turn a profit fmto exist. With a large number of customers it could maybe work, but for the individual gambler it doesn't seem like a good idea.

bakasabo

legendary

Activity: 2296

Merit: 1176

Quote from: MCobian on January 04, 2021, 03:33:25 AM

It is true that very many countries prohibit gambling and blacklist all gambling-related companies. This applies in my country, for this reason
maybe insurance companies don't want to take risks by engaging in gambling activities. I believe that all insurance companies want to be accepted
in all countries, therefore they must maintain their image by not getting involved with gambling.

Why would even insurance companies be involve in gambling? As I understand, insurance is a protection, for which you pay premium, against change of its original condition.

The guy from first post wants to place a bet, if he wins - it is ok, if he losses, he wants insurance company to recover his losses. It is a win=win situation for him, while there is almost no logical explanation for insurance company to get involved into such thing. It is like just throwing away money. How much usually insurance policy premium is? Just a couple of % of sum insured. For example he want to make a $1000 bet, and will pay $20-30 for insurance. In case he wins, company earns 20-30$, in case he losses, company losses $1000. There is not point of doing such a business

Risks are not equal.

bitterguy28

full member

Activity: 2002

Merit: 175

★Bitvest.io★ Play Plinko or Invest!

Quote from: acener on December 31, 2020, 06:02:15 PM

I don't think that there would ever be such service it is like convincing people to be a gambler without a fear of losing.
If they couldn't control their own bets then they should stop gambling or they would justbe destroyed due to addiction.

If there is One? For sure i Will enroll My Uncle as for Being Addicted and not even Placing Money for Future .

One He received the Salary for the Month ,He will directly Go to online casino and will spend the Whole Night there or Until all His Money Lose.

I never stop telling Him about assuring the future but was not enough for Him to listen.

freedomgo

legendary

Activity: 3080

Merit: 1144

Quote from: FaucetKING on December 31, 2020, 01:38:28 PM

Insurance for betting is a dream that won't be achieved i think, betting means risk, it means losses for some parties and big wins for other ones.

Not anyone would dream for it, the bettors and the insurer would never agree with the insurance premium.
Thing does not exist to be realistic and will never exist.

Quote from: FaucetKING on December 31, 2020, 01:38:28 PM

Basically, even if some foundation tries to establish such a service, it should be directly in touch with alot of bookmakers which is not likely to be happening.

I don't think one have already established an insurance in gambling, I tell you, they are not even thinking of it.

MCobian

full member

Activity: 1190

Merit: 117

Quote from: ?? on ??

Quote from: acener on December 31, 2020, 06:02:15 PM

I don't think that there would ever be such service it is like convincing people to be a gambler without a fear of losing.
If they couldn't control their own bets then they should stop gambling or they would justbe destroyed due to addiction.

I also doubt that insurance companies would offer such insurance for gamblers. However, I think that might be lucrative business for them.
But in many countries gambling is on a black list of socialy undesirable activities and existence of such insurance might further encourage gambling so I don't think it's realistic to expect that something like this appears in the market.

It is true that very many countries prohibit gambling and blacklist all gambling-related companies. This applies in my country, for this reason
maybe insurance companies don't want to take risks by engaging in gambling activities. I believe that all insurance companies want to be accepted
in all countries, therefore they must maintain their image by not getting involved with gambling.

Lorence.xD

sr. member

Activity: 1624

Merit: 315

Leading Crypto Sports Betting & Casino Platform

Quote from: ice098 on December 30, 2020, 09:14:58 AM

Quote from: Lorence.xD on December 29, 2020, 11:36:29 PM

~

But sadly as we have thought always this might seem in the last list of the insurance company to consider. But we do hope that someday this might gonna happen and insurance company can consider this possibility because there is so much gambler now.

I do not think that insurance companies will dip their toes in this disaster type of incident. If you lost at gambling, you should feel the full impact of your addiction, having an guarantee that you will get some money back is a dangerous route to tread, this will enable addicted gamblers to go on and on. Also in a business perspective, it is not profitable to insure gamblers that are incurring heavy losses, you are like borrowing money from them and not getting a single benefit out of it.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: ?? on ??

Quote from: acener on December 31, 2020, 06:02:15 PM

I don't think that there would ever be such service it is like convincing people to be a gambler without a fear of losing.
If they couldn't control their own bets then they should stop gambling or they would justbe destroyed due to addiction.

I also doubt that insurance companies would offer such insurance for gamblers. However, I think that might be lucrative business for them.
But in many countries gambling is on a black list of socialy undesirable activities and existence of such insurance might further encourage gambling so I don't think it's realistic to expect that something like this appears in the market.

They wont really be building one if they do saw that it is banned. What for? They are trying to build business even if they do know that it is prohibited?

Its just not right for you to make business if you do saw that you are really on great disadvantage.Also this will really just spark out interest for gamblers if
they do know that theyre insured or can take back something even if they do lose.

Insurance service is totally nonsense to talk about because if people doesnt like to lose money then they can eventually stop if they wanted to.

CarnagexD

sr. member

Activity: 1498

Merit: 374

Leading Crypto Sports Betting & Casino Platform

Insurance covers things that the person applying for wouldn't want to happen to himself and something that he wouldn't deliberately put himself at risk of being disadvantaged. That's why there are no gambling insurance coverages as of date. Though this may change in the future, but will be highly unlikely still, since it defeats the purpose of insuring yourself.

Quote from: acener on December 31, 2020, 06:02:15 PM

I don't think that there would ever be such service it is like convincing people to be a gambler without a fear of losing.
If they couldn't control their own bets then they should stop gambling or they would justbe destroyed due to addiction.

Exactly, giving people a chance to even cut out once on their losses will put them in a spot that automatically induces addiction, so instead of bettering these people's lives, it can potentially harm them instead.

Ryker1

sr. member

Activity: 1918

Merit: 442

Eloncoin.org - Mars, here we come!

Quote from: Becky666 on January 03, 2021, 03:42:07 PM

Quote from: acener on December 31, 2020, 06:02:15 PM

I don't think that there would ever be such service it is like convincing people to be a gambler without a fear of losing.
If they couldn't control their own bets then they should stop gambling or they would justbe destroyed due to addiction.

My sincere concerns toward this type of service if ever exist is, it will definitely help in the increase of gambling addicts to what we have had in the past. Gambling is all about luck and if a service decide to add insurance for gambler believe me they will definitely end their service on short-term. Such service will incur huge loose withing a short-period of time becasue everyone gambler out there will buy into their service to share their loos.

Well, I got your point.
Perhaps it will end up like that, the gambling addicts will increase because they feel that they have assurance from losses which on their mind, no matter if they had to lose as long there is a service that offers assurance to all gamblers that has massive losses. But is only an assumption, if we think it for how many times, --it is impossible to happen because gambling site does their business without any assurance to the users. Loses is the biggest problem of gamblers how to recover, that is why we always remind them just gamble of what you can afford.

Becky666

full member

Activity: 756

Merit: 231

Quote from: acener on December 31, 2020, 06:02:15 PM

I don't think that there would ever be such service it is like convincing people to be a gambler without a fear of losing.
If they couldn't control their own bets then they should stop gambling or they would justbe destroyed due to addiction.

My sincere concerns toward this type of service if ever exist is, it will definitely help in the increase of gambling addicts to what we have had in the past. Gambling is all about luck and if a service decide to add insurance for gambler believe me they will definitely end their service on short-term. Such service will incur huge loose withing a short-period of time becasue everyone gambler out there will buy into their service to share their loos.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: ?? on ??

If an insurance company can come out a plan for compulsive gambler's loss I'm sure he will have a lot of clients because there are so many compulsive gamblers, but on second thought it will only motivate compulsive gamblers to gamble more, since he can still get back his money back because of the insurance.

The number of clients is irrelevant what matters is how can you profit from them? Compulsive gamblers could be a source of income for paid rehab centres and things like that but for an insurance to try to protect a compulsive gambler from their losses is simply a losing proposition and something no sane company will ever consider to do, this is simply the dream of compulsive gamblers that want to gamble without any negative repercussions coming back to them.

johhnyUA

legendary

Activity: 2422

Merit: 1834

Crypto for the Crypto Throne!

Quote from: romero121 on February 14, 2017, 12:57:04 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.

Ahahahahah Grin

The most stupid idea from everything what i've heard in this week!

Man, any gambling site and casinos has the house of edge (negative EV) and it's too addictive. This is 1st January and i'm a little drunk, but believe to me, your idea is reverse to what insurance company is. The prob to get ill or be robbed is too small, and on long term you will always win (if you're an insurance company) because in your business you have positive EV. And in your idea, you will have negative EV, so on a long term you will only lose your money,. Grin

Happy New Year to all jokers like you! Grin

Mahanton

hero member

Activity: 2688

Merit: 625

Quote from: acener on December 31, 2020, 06:02:15 PM

I don't think that there would ever be such service it is like convincing people to be a gambler without a fear of losing.
If they couldn't control their own bets then they should stop gambling or they would justbe destroyed due to addiction.

They would be fucked up by gambling and it is indeed no service nor company will really built up something like this if they do saw that there would be lots of claims because
doing gambling is simply means that you would lost in long term and if people do knows that theyre insured then who would be the hell to stop into their gambling activity?
Its true on what you had said that if they cant just control theirselves towards gambling then its better to stop while its still early.
You wouldnt need any insurance or some sort because having your own self-control would be enough.

acener

full member

Activity: 1274

Merit: 115

★Bitvest.io★ Play Plinko or Invest!

I don't think that there would ever be such service it is like convincing people to be a gambler without a fear of losing.
If they couldn't control their own bets then they should stop gambling or they would justbe destroyed due to addiction.

mezzaluna

member

Activity: 518

Merit: 23

★Bitvest.io★ Play Plinko or Invest!

Quote from: olubams on February 14, 2017, 02:20:36 AM

There is no insurance for this whatsoever, even in the real world no one will insure for a gambler. And for this service you are proposing, how will you calculate the premium and how many times will you pay for the loss. For someone who will patronise virtually all gambling sites, or who made losses on all the sites. How will you calculate the amount to indeminfy him or her. Insurance is not for business that is as risky as gambling because of its complicated status...

That is true, the thing about gambling is that the online scenarios that are made are just simulations of what could really happen in the physical world so it is still up to the users who will gamble on when to stop gambling. Its not the gambling websites fault if you will lose too much but partly they are accountable but its totally reliant on the gambler when they lose too much.

FaucetKING

sr. member

Activity: 1246

Merit: 306

C U

Insurance for betting is a dream that won't be achieved i think, betting means risk, it means losses for some parties and big wins for other ones. Basically, even if some foundation tries to establish such a service, it should be directly in touch with alot of bookmakers which is not likely to be happening.

Topic: Is there any insurance service for gamblers to retain heavy losses....??? - page 3. (Read 6882 times)