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A comment on Woman makes $420k by buying insurance on flights she predicted would get delayed. Parent comment

Re:Woman makes $420k by buying insurance on flights she pred... by devit on Monday June 15, 2020 @10:18AM (#23527579)
Insurance is done to reduce risk, gambling to increase risk.

Betting on sports is insurance if and only if you bet against your own team for an amount not greater than the winnings.

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Re:Woman makes $420k by buying insurance on flights she pred... by anbende on Monday June 15, 2020 @10:22AM (#23527623)
Gambling does increase risk, but it is not done TO increase risk. Risk is accepted (or embraced) to increase reward.

Of course it gets murkier when people talk about the “rush” of gambling, which is I think what you’re alluding to, but it’s not as straightforward as you make it or the most popular gambles would be those with the longest odds or the highest chance of complete ruin.

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Re:Woman makes $420k by buying insurance on flights she pred... by Psyladine on Monday June 15, 2020 @10:39AM (#23527797)
No-one gambles to increase risk. Waging a bet against a payout is only superficially different from waging a premium against a catastrophe.
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