Is there any insurance service for gamblers to retain heavy losses....??? - page 9.

ethereumhunter

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Insurance companies are profit oriented, before you can make out of them they will the first one to make profit, so if ever they will come out a plan, they will make sure that they are the one who will make profit out of it, they will have a lot of stipulation if ever they will launch a plan for gamblers maybe in the future we'll see one, we never know.

That is the plan of the insurance companies if the insurance will be applied to the gambling industry. So I do not think that gambling can easily ask for a refund on their losses because the insurance companies will investigate first before they can give the money. But I guess that the insurance companies will not let the gambler complain about their loss since that will be the gambler's mistake.

ice098

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Quote from: Sebas.tian on December 20, 2020, 09:43:07 AM

Quote from: aioc on December 20, 2020, 04:09:57 AM

I'd like to have one so I can insure my losses I always end up losing so I just put the risk of losing to my insurance company, but I have doubt if there's one insurance company who is brave enough to put up one, unless if he will try to scam people so I doubt if we are going to have one.

I can't see any reason why anyone would take this part in establishing such Insurance Service for gamblers, firstly, this will increase the rate of gambling addicts around the world of gambling, and this won't be good to the society at large if implemented. Well, i doubt if anyone with such service will ever make profit from the service becasue gambling is purely base on luck and knowing that after running at loss you still have part of the loss through your Insurance service.

Its true and if these idea adopted by the insurance companies it only shows that they are tolerating the addiction of a gamblers. Being an addict in gambling were inevitable and in fact this became a top priority of the people who didn't gamble because for them wasting money in gambling as much as they are willing to risk were totally addicting.

Quote from: Zackgeno96 on December 20, 2020, 11:04:54 AM

No one will ever give an insurance to gamblers if there's a company that gives insurance to gamblers I'm pretty sure a lot of gamblers right now is not losing, most of the time gamblers losses and I don't think insurance companies wanted something like that to happen.

How much do we like to have an insurance in how much we have been lose in gambling but sadly theres no such insurance companies that would consider gambling as part of their insurance coverage.

Zackgeno96

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No one will ever give an insurance to gamblers if there's a company that gives insurance to gamblers I'm pretty sure a lot of gamblers right now is not losing, most of the time gamblers losses and I don't think insurance companies wanted something like that to happen.

fiulpro

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I have never heard of it.

The cashbacks and reward percentage provided by the particular gambling site might give you some of the money back but that is not insurance in the first place.
If there was any insurance people would just recklessly use the money and won't even be considerate of the losses. So the company will never allow such things to happen.

What you can insure is , something that might happen by accident but here the person is fully aware of what he is doing therefore I don't think any company will actually allow you to have one.

If you do find a company making such claims that's a scam for sure.

Sebas.tian

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Quote from: aioc on December 20, 2020, 04:09:57 AM

I'd like to have one so I can insure my losses I always end up losing so I just put the risk of losing to my insurance company, but I have doubt if there's one insurance company who is brave enough to put up one, unless if he will try to scam people so I doubt if we are going to have one.

I can't see any reason why anyone would take this part in establishing such Insurance Service for gamblers, firstly, this will increase the rate of gambling addicts around the world of gambling, and this won't be good to the society at large if implemented. Well, i doubt if anyone with such service will ever make profit from the service becasue gambling is purely base on luck and knowing that after running at loss you still have part of the loss through your Insurance service.

Genemind

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I don't think that such insurance exists. Insurance companies will never cover something that is under the insurer's control. This will only push gamblers to exceed their limit since they know that they have insurance that will cover or return some of their losses. This might also lead gamblers to become more addicted to gambling since they know they are insured. Gamblers don't need insurance when gambling, if you want to avoid losses or having gambling issues or problems, stay away from it. There could be some gambling platforms who offer such program, that incentivizes gamblers and gives them a very small portion or a rake back of their losses.

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Quote from: aioc on December 20, 2020, 04:09:57 AM

I'd like to have one so I can insure my losses I always end up losing so I just put the risk of losing to my insurance company, but I have doubt if there's one insurance company who is brave enough to put up one, unless if he will try to scam people so I doubt if we are going to have one.

Many will definitely have it if it's available, no insurance companies as well gambling casinos or companies will have such program because it is too risky especially these casino only wanted is to their players to really loss or spend all their money in playing. I guess only life insurance is applicable to the gamblers so when they have no longer much money and something happens atleast they have insurance to pay for their bills as long as it's covered.

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I don't think there would be any insurance company that would be covering heavy losses due to gambling.
If it were so then more than half of the world would be gambling right now and those insurance companies would be going bankrupt since everyone would be claiming their losses.
Most of the people keep losing in gambling which is why insurance for gambling doesn't sound like a good idea to me.

ethereumhunter

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Quote from: Kong Hey Pakboy on December 20, 2020, 07:20:46 AM

I assume having an insurance service for gamblers is not necessary because you shouldn't be gambling if you wanted to retain your losses. It would also be unfair for casino or crypto casino owners to offer such a service for gamblers to recover their heavy losses, especially if they are already offering daily bonuses for their players because many it would be fine for every gambler to spend their money in gambling if they can gain back all of their losses from the insurance.

Yeah, the casino will not offer those services because that can reduce their income from the losing gamblers. Besides that, if the gambler is losing their money, that is because of their fault. They do not know how to manage their money, so they can not ask for insurance if they lose money. It is the gambler's responsibility to take care of their money and not losing their money.

Kong Hey Pakboy

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I assume having an insurance service for gamblers is not necessary because you shouldn't be gambling if you wanted to retain your losses. It would also be unfair for casino or crypto casino owners to offer such a service for gamblers to recover their heavy losses, especially if they are already offering daily bonuses for their players because many it would be fine for every gambler to spend their money in gambling if they can gain back all of their losses from the insurance.

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Quote from: MCobian on December 20, 2020, 01:59:28 AM

It is a very good idea if there is really an insurance service in gambling businesses, but I have never found an insurance company
that provides services for gamblers. Because there is a possibility that the amount of loss experienced by gamblers is greater than
the insurance premium that must be paid by gamblers. So I doubt any insurance company will provide insurance coverage against
gamblers who have suffered heavy losses, because the insurance company could go bankrupt in the near future if they dare to provide
insurance services for gamblers who experience losses.

If gambling has insurance that will covered up your heavy losses then gamblers will definitely enjoy while playing. And if it was only true i'll bet that everyone will be attracted to gamble without being afraid to lose their money and they were fearless to take risk. I would be delighted to gamble anytime if losses has an insurance.

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Probably there are no insurance companies that provide such services for gamblers. I guess they don't see the business case in it although I think that this might be good idea. I believe that many gamblers would be interested and at the end this might be lucrative business. But I don't think that will happen in reality, gambling and insurance don't get together.

But sadly there is no such thing like this and there will no insurance companies that would be willing to include gambling losses in their insurance coverage. But who would've though that maybe someday one of the insurance companies might consider this.

plr

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If there's a clamor one insurance company can set up one but it will be in favor of the insurance company, they will do a feasibility study and see if they can come out an option where the gambler can benefit and they can make profit, I'm sure with millions of gamblers they can make a good profit if they can come out with a plan that is agreeable to all parties.

aioc

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I'd like to have one so I can insure my losses I always end up losing so I just put the risk of losing to my insurance company, but I have doubt if there's one insurance company who is brave enough to put up one, unless if he will try to scam people so I doubt if we are going to have one.

Mauser

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Quote from: MCobian on December 20, 2020, 01:59:28 AM

It is a very good idea if there is really an insurance service in gambling businesses, but I have never found an insurance company
that provides services for gamblers. Because there is a possibility that the amount of loss experienced by gamblers is greater than
the insurance premium that must be paid by gamblers. So I doubt any insurance company will provide insurance coverage against
gamblers who have suffered heavy losses, because the insurance company could go bankrupt in the near future if they dare to provide
insurance services for gamblers who experience losses.

I don't think an insurance company will easily give out insurance for gamblers. The problem here is that an insurance company needs to quantity it's risk in terms of probabilities. For example for car theft, or natural disasters are a fixed probability that is taken out of the past from many years of surveys. But with gambling it's a bit more tricky. Once people have such an insruance the behaviour actually changes, we will go for much more risky bets now, because we are insured. This might only work if the insurance companies has some data about the gambling behaviour of their customers.

MCobian

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It is a very good idea if there is really an insurance service in gambling businesses, but I have never found an insurance company
that provides services for gamblers. Because there is a possibility that the amount of loss experienced by gamblers is greater than
the insurance premium that must be paid by gamblers. So I doubt any insurance company will provide insurance coverage against
gamblers who have suffered heavy losses, because the insurance company could go bankrupt in the near future if they dare to provide
insurance services for gamblers who experience losses.

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Quote from: Saisher on December 20, 2020, 12:46:02 AM

This thread is two years old but the question is it possible I don't we will ever have something like this, I don;t think so even if it takes ten years I don;t any company will be brave to launch a company or a project like this, there's no money to be made from this kind of plan, because gamblers are guaranteed to lose, even if you are trying to win.

Its highly complex to think can have this kind of insurance to protect the gamblers against the house who always have the edge so they are going to make money for themselves but for insurance to cover and protect the gamblers from it is highly impossible else the premium itself would eb like so high that would not be worth it.

Saisher

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This thread is two years old but the question is it possible I don't we will ever have something like this, I don;t think so even if it takes ten years I don;t any company will be brave to launch a company or a project like this, there's no money to be made from this kind of plan, because gamblers are guaranteed to lose, even if you are trying to win.

kramchers

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Quote from: romero121 on February 13, 2017, 11:57:04 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.

I had been played in different gambling platform and none of them are doing cashback every time the players get gamble in the big amount.
And since that there is no insurance on this, We suppose to know how to gamble what we can afford to lose in, This reminders must apply by all the gamblers at all time so can limit our loss anyway.

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I’m not informed about any insurance gambling service because in gambling it’s either loss or win and I never heard of any premium act. To be on a safer side you shouldn’t gamble more than you can lost. It’s important to seek for the right council before venturing into gambling with high stakes and also verify the gambling site or organization so you don’t get ripped.

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Quote from: lxiaoh on December 19, 2020, 02:09:21 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.

Insurance companies will get bankrupt easily because gamblers may claim their insurance higher than what they paid for. And I don't know if there is some kind of studies how they can implement insurance in gambling industry. I will bet, there will be more claims rather than availing insurance policy. Grin

This is quite hard to venture with so no company up until now is offering this service.

Topic: Is there any insurance service for gamblers to retain heavy losses....??? - page 9. (Read 6957 times)