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A comment on The strange business of hole-in-one insurance. Parent comment
The mathematics are similar from the ensurer/casino side. However:
1. The happiness impact of losing 5x your net worth (house burnt down, eternal debt) is likely much bigger than gaining it.
2. It's harder to repeat sell insurance to someone until they are broke, compared to a slot machine.
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The mathematics are similar from the ensurer/casino side. However:
1. The happiness impact of losing 5x your net worth (house burnt down, eternal debt) is likely much bigger than gaining it.
2. It's harder to repeat sell insurance to someone until they are broke, compared to a slot machine.