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Wagering v. Insurance |
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Wagering v. Insurance The difference between gambling and insurance lies in the nature of the risk involved. In gambling, no risk exists before a wager occurs. Thus, gain or loss depends on one's decision. In insurance, risk pre-exists the contract. The possibility of loss therefore is not a choice; insurance simply attempts to mitigate it. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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