Bitcoin Forum

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.

Honestly, why? You should never gamble more than what you can afford. I don't see any point in paying premiums to some service for covering some of your losses. You either win or tou don't, and with gambling you should always be able to walk away from the table and do something else. Additionally, if you make big bets, some sites have Lossback and Betback programs, which offer some of your overall bets or losses back to you.

Insurance for gambling sounds pretty silly, given that it's gambling, not for example investing, where this kind of insurance would actually work.

I am not aware about any insurance service to retain heavy losses, but there is at least some kind of insurance service if you were defrauded or your account balance embezzled, frozen, etc.. And this either cost free or for a low premium. ;)

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...

The nearest service I can think of is the moneyback/coinback promotions offered by casinos. 4grinz is offering those kind of promo if you play on thursday and lost all your deposit they will credit 10% back no rollover required but you have to be a premium member to qualify for this promo. Sportsbet.io also offers moneyback up to 100mbtc for specific sports just always check their promotions tab.

Since almost all bitcoin casinos feature some sort of referral program you can just ask your friend to make account and share his referral link with you before you visit chosen site. Your friend will start getting some percentage of your wagered amount, no matter if you win or lose, then he will just share it with you from time to time. It's not the same as insurance, but essentially you will be lowering your house edge. Keep in mind that all gambling sites prohibit referring yourself, so you can only set this up with another person.

Why would anyone provide an insurance for gambling.If you are really interested to provide one you can start a business venture by providing insurance.  :D The people running these business are not foolish enough to provide insurance for gambling and if you are not aware even actors like Jackie chan cannot get a insurance cover because of their nature of work as he is getting injured all the time no company will be willing to provide a cover. Best way is ,stop gambling.

Insurance is for your life. it is if your life is endanger that is in the insurance. So I think you refer only for loan. Loan if you have property then you will loan the loaner. That is for offline business and online business as well.

There is a big problem with this while most of the insurance are for life and valuable things and people cannot die just because of money. While if they get insurance for gambling then they will simply bet all of their money on max odds, if lost they insurance and get their money back. So ultimately insurance company will go in loss mate.

i never heard about this before and maybe there is no such thing even most of gamblers has agree with that but how about the gambling sites owner i think they will think twice to do so and if this thing suppose there then how about the profit for gambling sites because most of gambling sites owner will expect huge loses from the players which is means huge profit from them too

I don't think there is any service like this or will start one in future because its very hard to manage and operate such service, because a gambling site owner can easily cheat such service when his alt account loss money then it will go to gambling website's fund(his own site) and he can claim insurance from such site as well.

Actually I think you mean you need a feature like rakeback, basically some sites call it loss back.

One site I know that offers rakeback is bitdice and there are plenty more. But, why gamble when you yourself know before gambling that you will ultimately be in loss after all ? Its simply crazy and I cannot understand this mentality.

I think you are ignorant here. You can insure even physical goods,have you not heard about property insurance,vehicle insurance and so on. :P Taking a loan and gambling is one of the dumbest decision anyone could make and OP is looking for an insurance service which is not possible as no company in their right sense would dare to accept it.

i believe one of these less knows casinos were offering a service like that to its users (you didn't have to pay anything though). i think it had a Japanese looking name :D

it was like a one time cash back in case you lose. they had multiple options, if you lost once per week you could take all your money back and had some other options to get a percentage back,... in general things like that. but as i said the place is not so famous around here.

i will add more information if i can find it again!

No insurance company will survive something like this. Insurance companies can excist because the majority of the people never need their services, while paying the fee.

In betting, the expected outcome is always negative, so the insurance companies always have to pay more than they get in fees.

I guess everybody would love to be insured against their gambling losses.

makes sense , consider a moneyback promo as an insurance. but i guess that wasn't what op looking for. he wondering about if here is an insurance service for those people who prepare themselves in case they got greedy and broke because of gambling , which i think no company want to take this as business since they know it wouldn't be a profit at all.

the only insurance would be when you take a loan and don't play with your money, if you can't win you simply take another loan to repay the one that you had before, it's dangerous yes because there is a chance that you can't payback the previous loan and would accumulate a enormous debt, but i can't think of anything else to cover your losses

Thats insurance thing really sounds to me is just like a cashback if we are talking of giving back a partition on gamblers losses but I don't think that a certain gambling site would made this thing like theres an insurance since its really on players responsibility if they lose amounts of money.

I think online casinos will not provide any insurance service for gamblers. But in the real casino if you lose huge money that means the casinos will fix one amount you have to play that amount, and if you lose that money, They will give you some percentage of coins it may be 10 or 20% to play again and if you don't like you can cash it. This is just one type attraction this is not insurance.

I think this will be a good idea for the gamblers who gamble daily but only for those who gamble in actual casinos not for the online gambling because I have heard there are some sites which give bonuses or cashback when they invest in gambling online so it can be like a type of insurance. And I do think something like this does exist because nowadays people can insure anything like literally anything.

Even gambling sites or the owners would warn you before you gamble so that you don't get mad at them later on. It is always said that you should gamble with only what you can afford to lose, and if you gamble everything and lose them all, then there is no one responsible for that but yourself. So there isn't really such a service that could give back some money to you after you lose all, at the end, you are the one behind that.

Fiat sportsbooks refund money back to players if their accumulator bets miss by 1 final leg and this can be repeated a number of times throughout every month. It's actually a great feature if you consider how many accumulator bets you have lost by just 1 leg at the Bitcoin sportsbooks.

I think your idea about an insurance service for gamblers is good
because there are not insurance service for gamblers before,
but I don't know are there gamblers will use your service,
I think you can try make it, will be known the results.

Yes there is, and they are called often as the idiots company where a lot of idiot investors put their money to insure gambling addicts get their money back after they lost it. even if there was some company willing to take the risk they would've take a cut in profits as well.
You go to an insurance office and ask such a question they will tell you to stop gambling you moron.

Nah, i've never heard of such a thing. Poker sites have rake back, i think it is closest to get back very small amount back, but it's not insurance.


Loan for gambling and loan to repay lost loan is not insurance, it is very stupid decision. At the end, you will pay from your own pocket  ;)

You are talking about lossback, betback, and in poker rakeback. For example on betcoin.ag where I gamble that depends from your loyalty level. You have bronze, silver, gold, emerald, rubby.. higher level higher percent you get back.
On other sites there is daily promotions of some games, when you play them you have cash back, they send mails to announce that.

Just like others I think there is nothing like this nowadays but I think that it is actually a very good idea for a casino. It's a great way to attract gamblers if they know that in case they lose more than, say, 0.5btc, they get 0.05 of it back as a compensation. At least, from what I heard, in real casinos there actually is a thing like an insurance in a way. When you lose a lot, they give you good champagne, some nice food and pretty girls calming you down for free.

I love this feature on fiat books because this give me some good advantage in recent days I lost few ones and have money back but I am sure bitcoins betting sites cannot offered this service because its need some legal works which is impossible for them to cover this all

I think it is ridiculous to have such kind of service, you are paying insurance to prevent your lost, it's mean you are spending money to pay your insurance, why don't the gambler just cut off the budget limit? and never gamble with the amount that you can't lose, but I ever encountered 1 casino that give cashback when you lost your money, but in a small percentage

In poker you can play and bet with expected positive outcome.


No, he don't speak about rakeback!  ::)

You get rakeback also if you win. You get a part of the commission back and this is not related to whether you won or lost.

Other sites have also rakeback programs and they are not a publicly proven scams!

I do not know, I also just thought of it, but I think it does not exist. if there is, it may be very much of a gambler who would perform for their insurance, but I am sure, the parties of such insurance will surely get a great loss, because of the risk in gambling is huge.

Maybe before they will start such business they will study it hard, I'm not sure if this can be possible or not since most addicted gamblers loves to make all in and in most times they lost everything so i guess its really  a hard part for such business to start and make things happen as they will be at risk and not sure if they can profits, lets wait and see if there would be someone who shows interest about it.

Publicly proven scam cause some jackpot and later deal between betsoft and 'Jonson' , is that the name of the guy who won that jackpot while he played with bonus spins? As I know they made a deal, but looks like you can't live with that.
I asked you before you to tell me which site is good for playing poker with bitcoins but you are still silent about that, also I said what kind of insurance players have in some games, why are you always criticise everything and in same time you don't give any answers on asked questions?

If the capitalist have seen that as a good business, they would have done it before considering the huge volume of gamblers in this world not only in bitcoin community. Insurance are only for those unforeseen events such as accident or death and gambling is a venture, we can lose or win but we expect are refund with our loses, that's insane. Maybe if we will force to make this happen, then we will also have to pay a bigger portion which we will find unjustifiable.

You are asking very good question about gambling. But in my view, it is impossible way, because it is really hard to build insurance service for gamblers to return their losses. First of all, Who make it?
Secondly, everyone know that in gambling losses number are always increased than winning numbers.
So imaginatively we think, someone make the insurance service for gamblers, But definitely this insurance service always get lose.

No one would make it and there's no point on making an insurance incase a gamblers losing out his own money maybe there's Cashback but insurance it's impossible and as you said that insurance will lose money instead.

Yes it's like cash back but we know Cashback aren't considered as insurance because those amounts are too little to consider and whose gonna think about gambling insurances?

This is like saying to a stranger, "I'm going to jump off a building, but you'll pay for my hospital bills, right?" The gambling site don't care about how much money did you lose. Even better for them if you lost millions on their website.

There's a rake back on some website but it's not that much. It's just a small percentage of what you lost which is for me is not useful in any way. There's no way that you can multiply that small money and get back the huge amount of money that you lost. It's just another advertising strategy of these gambling sites.

any insurance service that tries to do that, will either end up having to put some ridiculous rules to let themselves from getting out of paying their customers (just like all the other insurance services for other things) or they will go bankrupt very soon because of all the reimbursements they have to make.

This would be a stupid service! That would just bankrupt the service immediately. People availing the service will be just super reckless and just yolo bet everything because they know that there is an insurance. Casinos have this, called loss back. But that is just a very small percentage which is less than 1%. I don't think there is a chance for this kind of service.

I don't think there is any underwriter who will insure a gambler unless he is a crazy gambler himself. Everybody knows that 99% of gamblers end up losing and therefore if you insure a gambler, be ready to indemnify them every time. Nevertheless, insurance is made for unforeseen circumstances, gambling is foreseen- it is either you lose or you win, therefore you can not say that it an unforeseen circumstance.   

Very less chance is there to find insurance service for gambling. The outcome is always uncertain with gambling, but as mentioned above most ends up in loss. In such a manner if a service is started, soon in a short it goes bankrupt and functions as a scam.

this is the funny thing that i've know because the gambling sites don't care about our loss in gambling games and they only thinking about how they can reach big profit from gamblers. i don't think that website owner will thinking about this but maybe the gambling sites will give back our loss money in bonuses if we make deposits again. so if there is any gambling website that give this service for their members, then i will always playing gambling in their sites and no matter i am win or loss, i still playing gambling games in their site.

I guess, It can only be possible to have an insurance if only the serivce has encountered a trouble regarding to their security and your account was hacked(web based gambling). But in terms of your losses, I don't think it will be covered by the insurance as they are not responsible of the huge losses made only by you .

Some sports betting sites have the insurance button in there. Only one of the sportsbooks has that though when it comes to bitcoin gambling and that is 1xbit. Whenever you bet on a game and you are not that sure, you can insure the bet partially or full or even cash out the bet. I'd like to see more sportsbooks use that but as on now, I think its just 1xbit.

there are some casinos that offer something like that, it is similar to insurance and i think it is what you are looking for but if a third party service is what you want then i doubt that it is such a good idea because that would mean losing twice, once in the gambling bet you made and once when you pay the insurance to insure you but don't do it in the end.

Ssriously though, indon't think anyone would be foolish enough to set up an isurance firm for something as risky as gambling. I mean we're talking about people whonare more likely to lose money that earn money and an insurance comoany for gambling would most likely go bankrupt in a short span of time

That is a good idea for but it is also a bad idea. If you have a casino or a gambling site and, well lets say that you are a very good, trusted with a very high reputation and everyone is really gambling in your casino or gambling site.
If you are having that type of casino, giving insurances everytime a gambler loses they will take advantage on that system and it will also have an effect in your casino or gambling site.
There are gambler that her really big and so if they lose everytime and they did was to save all their losses or insurance in your casino, there will come a time that all his savings from insurances will be big that you cannot pay it.
The good thing about it I think well is that there will be really a lot of gamblers that will visit your casino, thats a given.

The loss back service that casinos offer is usually more than 1 percent, just saying.
Some even offer full refunds, but usually as some kind of bonus.

That said, setting up an external insurance service is just not something that would work.

A brilliant and a dumb idea at the same time.
They would work out great if only gamblers had money to pay the next premium.After getting the insurance back,I doubt any addicted gambler would stop,I'm afraid he would put that money on the games too!However this can server as a really nice alternative wallet for gamblers,if they lose everything they always have their savins stacked up here.

Idea of gambling insurance is welcome and I have seen this on betballer and something similar on 1xbit ,but am certain they can not compensate when a result is declared! Remember to do your due diligence before placing any bets, GL.

Yeah this is definitely the flaws of the idea.  I also think of this scenario and insurance company will then be exploited and the only winner here is the person who have this kind of insurance and the Casino.  So I think no sane person will run this kind of insurance policy.

If you see I think it is definitely possible but of course It won't be unlimited coverage there will be many terms and conditions and also there may be a limit of amount will insured or maybe number of gambles per day allowed to be covered for insurance.

According to me there is no Company that Offer you Insurance Facilities for your Gambling activities because Gambling is just a Game of Luck and Not a Business, So No Company Owner wants to Insure a Game of Luck and I also Suggest you to Leave Gambling and do some other Business because it's good for your Future........

This is a fantastic and practical idea. Actually, we have been working and developing this, called Piggy Bank. We will provide #responsible gambling for gamblers. For thousand years, bankers in casino has never lose money. And now, I would like to reverse and revolutionize the gambling industry by letting casinos to give money back to gamblers. Let me know if you have interest.

i think so because the company don't want to risk their money to give insurance for gamblers to retain heavy losses, its about gamblers responsibilities when they are playing gambling and its not for other people. i think the insurance company don't want to give their insurance to cover the gamblers but its different if gamblers is borrow the money from them because gamblers should give payback to that company.

The main reason of insurance company that's why they offering that kind of service because they are expecting their customer to not any accident happened so that they can have profit on monthly payment from their customer. So why they will be decided to establish an insurance for gambling while the possibility of lossing is very high and it is unprofitable.

No, isn't. Depite from the fact that such an insurance would lead to massive scamming actions, this would not help much at all. You would have to pay high rates for the insurance which will totally eat any profit you make. And such an insurance will definetley not cover all your losses, just a part of it. So, it is a lose lose situation for the gambler.

There is no insurance company for this gambling loss. But if we lose a huge amount in the casino they will give some percentage of coins to play again in their casino. To get this, we have to play a big amount of money. Means they will give some packages we have to choose, and we must play that amount then only we will get this offer.

I've never heard any gamblers insurance service for losses recovery or retaining lost profit, and if there is I am not confident that it will stay long term with their commitment. Gamblers will end up lossing and lossing, even to those veterance players still admits that they never succeeded on their motivs and yet always fails rather that success. But to show more assurance than insurance, is you should be more responsible in managing your bankroll account and have budgetted amount just for your fun gambling plays and don't waste all your money just to recover the losses; think for another lucky day and not just for today.

According to me there is no Such Type Of Insurance Company Exits Because Gambling is a So Risky Game and No one Wants to Insure Your Money in a Risky Game and If Someone Start Providing these types of Services then Everyone will Start Doing Gambling and there is no Risk and No Fun Will be in Gambling if all the Risk will be Removed and also there will be Less Profits Because As We All Know that Higher the Risks, Higher the Profits.....

It is actually a good idea to have that kind of service an insurance service for gambling and get at least get small amount back in where you gamble but I don't think that it will work  very well the market place thats because bitcoin is not something like a car that accidents happened and damaged your care they covered you but in gambling is different you take your own risk to gamble and if you have greed that will make you lose everything you have so be very careful on gambling. It is really interesting that you have come up to that Idea but how do they insurance give back their money?, how do they make sure that you lost that amount of money. It is many ways to edits and to make sure it is real. So that means they need to connect with other gambling site so that they can put insurance on your bitcoin. I do think its a great idea but it won't work on field.

Insurance only makes sense when the risk is small and relatively stable. In gambling you can wager big sums like 1-5 BTC with a single bet, so every gambler can easily suffer heavy losses. It would be impossilbe for such company to earn profit. But if you want to get some of your money back, you should check out services that provide cashback via referral promotions.

I already read that services on this forum which offer cashback thru referral promotion, But this is not the same as insurance since you are required to invite other player to gamble on the casino and wager required amount so that you will be eligible to get referral commission that will cover your losses. Insurance service is very impossible on gambling since it is not profitable on activity that has a high chance of lossing. They will just end up bankrupt at the end once all their subscriber lose.

I don't think there are services like that, if services like that exist, it can lead people to addiction, they will just bet without afraid of losing and then that insurance will go bankrupt because most of the people lost in gambling and will go to claimed, I don't think it is profitable that is why nobody want to create that service

but there are no insurance service that will wants to retain heavy losses because of playing gambling and i am sure that they don't want to know about that. many of people which playing gambling have a loss, small loss until big loss, and imagine that if there are any insurance service that wants to do this, then they will not run their company for a long time and maybe they can get bankrupt too with the gamblers. no one will cover losses from playing gambling and every insurance service will stay away from this and they will thinking that its better to them to involve in other business.

Crazy mind set first you have to understand that gambking is not an investment unless you take shares or own the gambling site or the casino.  Yet if you dont then dont expect for an insurance lol and if ever that someone would offer that one to you then you should know that it is a pure scam

No company will offer this kind of services to lose money for them because they know that each and every gambler is going to lose money at the end so then they may need to pay you back all those losses. These insurance companies want to make money for them so this business will not suit for them instead they may need to spend a lot of money to pay back gamblers so you will see any such services.

indeed. gambling by definition is something that you risk winning or losing. it's not gambling anymore if you have a form of assurance that you can get compensated if you lose. Ionly foolish people would think of starting a business like this

This is ridiculous, who is sane enough to make such company just to support gambler? Insurance? there is no such thing on the gambling world, because in gambling, there is no way that you could get your money back just by this Insurance thing, unless you are going to win it back using some strategy if you are playing strategic game like poker and so on.

So, if you don't want to lose your money and don't problematize this thing, then don't enter the gambling world, because it is not what you think it is, you are going to regret it in the end, trust me.

Why not?

If someone is paying a monthly fee for a gambling insurance
You're making money and you should pay out when he loses

Companies are made for profits, not for anything else
If there is a profit, I don't see why this couldn't be made

 I have seen one before here in this community and posting that kind of service which is of course and obvious scam scheme yet there were few who try it and it was never been seen again

What is the point in recovering some 1% or 2% of your total lost bankroll ? Because if insurance companies will be covering more than 2% of your bankroll, they might get bankrupted very soon otherwise you need to pay more premium which would be another headache while going for gambling aside arranging extra funds other than bankroll for gambling.

I read already some gambling houses are in practice to provide some cashback if they find some gamblers are regularly losing but in big amount.

This is a really interesting question, I quite like it. It may be that gambling addicts will like this, but in reality, I have not seen this type of insurance appear, there are only a few types of insurance available to assist you if you get scammed online. If there is coverage for gamblers, I think they will become more and more addicted to gambling because they no longer fear losing more money because they have insurance. That's just my opinion

This is a thread that's been started by me years back. Once again I would like to take this into discussion, because more the existence of gambling sites more is the addiction. It is a must to make some innovative plans, so that the gamblers doesn't want to restrict themselves from gambling. Maybe this can help the gamblers as well as the dependent of the gamblers.

Well I think insurance is not necessary in gambling. Why? You're the one controlling yourself on how much money to spend on gambling so therefore low amount or spare money wont hurt you that much.

Only gamble the money you can afford to lose and be aware of the consequences if you happen to spend the money meant for important things. If you gamble, its your choice thus be responsible on your action. Paying for insurance to get back what you've lost is like predicting you will lose but its fine because you're insured.

Well, if you are expecting an insurance for gamblers to get some remuneration over their losses, then gamblers should also get legal loans via bank to gamble. We think to change the world in a day but that does not happen. If these casinos start paying back some money on losses, it will not work out because every other gambler will think that if this guy got the insurance money, why can't we? In spite of that, casinos can set up an investment pot for each account level and ask the gamblers to fund it with some money 'like we get a salary cut and it goes to provident fund'. Casino can promise to add some % to that fund and give it back to the gamblers as and when the insurance conditions are fulfilled after a loss. Conditions can be set by casinos because they don't give anything for free, honestly (except a few do during their promo).

I don't think any insurance company would take part in this because if gamblers retain heavy losses, that will be his mistake, and there is nothing he can do except accepting his losses. A gambler needs to take responsibility for himself, especially to manage his money used to play gambling. And if he loses the money in the gambling games, he can't do anything. He needs to control himself while he plays gambling, but if he loses the money, he can try to recover it back. But that will not be recommended because he will lose more money, so it is better to stop playing gambling.

I don't think someone would offer or establish this kind of service. And also how will the insurance benefit from this?
Gamblers should be responsible for their losses, it's not against their will when they made those losing bets.
It's your fault if you're gambling too much than you can only afford.

innovative plans must be from gambler itself and not from anyone else.

Imagine having this request of yours meaning that being a Addict gambler must have some insurance?you are doping stupid thing and you want others to provide for you?

if this will happen then  expect another Tons of new addict will rise because now they can generate some amount while spending their money in gambling.

op said they can gain small amount if the loss is huge not big amount when they loose a big amount . this wont still be profitable and why will they gamble that the chance of loosing is high , just because they want to earn this small small money in return ? that gambler can be out of his mind , he can prefer to not gamble and not loose or put the money in  less risky but more profitable tasks .

 havent heard that any gambling that have an insurance but there are many gambling that offers simillar where they can get a verry tiny amount after loosing a big one but many are discourage with this . the number of addicted gamblers will still be the same , they can grow if they want to without the help of those benefits .

No, I don't think there can be something like that. Insurance is like opposite of gambling. In gambling you pay in the long run and in insurance they pay you if something bad happens. Why would they pay you any amount on circumstances you have control over? That way they will be ripped off.

I suggest to stop gambling if he really don't want to lose money in it. Instead of gambling do multiple kind of investment and that case even he played in the gambling he know that there will always be money that will enter in him.

Forget about gambling and focus in different types of investment in that case the odds of losing still the same but you can play again in another day from your income in your investment.

No insurance will accept that kind of coverage, they are going to lose because there is no guaranty of winning in gambling, you can lose big amount of money anytime you are in the betting table or dashboard, insurance is a money making business they are not going to make money here, your best option is always to gamble money that you can afford to lose, nothing beats this mantra.

Isn't this basically a cashback kind of program? I hardly doubt someone would do this without any possible way of obtaining profits. Not to mention you're basically letting a third party do your insuring for you, might as well do it yourself for the sake of being organized, though if you can't handle your finance, feel free to do so. Additionally, on the topic of if there's one, I'm not familiar with any of them. Additionally, it'd probably be better for insurance in gambling to happen when a certain amount is lost in a certain time period. It could either be a big loss, or small losses over a long period of time. Though it's still unlikely imo, since gambling is a community where people who run away from their debts run of the mill.

@romero121 if you talk with some insurer of big company, you will find your option and a tailored offer in your interest. It depends just... how much you have to pay for that service. Since you're paying this middleman and the premium each month/year. Usually isn't a cheap service.

BTW What you described in OP it can be like a cashback?

I never see any company doing this so I agree with you that there's no insurance company accept this terms since most of the gambler a are always losing and it's a huge lose for the insurance company since they will be the milking cow of the loser gamblers.  That's why I don't bother to research any of this and just gamble what amount I can afford to lose here.

I don't think so and no insurance would ever cover for gambling losses.

Gambling, in general, is a game of chance that rely on betting on certain games or services that either yields a favorable or an unfavorable result. In addition, one is never compelled to gamble in the first place as it is a personal decision of the person. Any loss incurred cannot be shouldered by any insurance as it will definitely and completely result to people taking advantage of it in the first place.

If you are suffering from gambling addiction, I highly advise to seek help from your peers and family members. Never be ashamed to tell your addiction as they are the ones who can support you in this temporary stage.

I dont think that there were such an insurance company which would like to offer an insurance in a gambler. There is no such thing in crypto gambling or even in any kind of gambling that's why we always keep on saying that in gambling gamble what you ara afford to lose. No business man would like to risk their business without any assurance of return of their investment or profit. If losses in gambling were only covered by the insurance company i bet that every gambler will definitely enjoyed their every moment in gambling.

No insurance can cover insurance for gambling loss, because the probability of losing a lot in gambling is very high, a gambler who insured can lose everything the next day, not profitable, if you want to minimize your losses, then minimize what you allocate in gambling, unless you are good in gambling you should allocate what you can afford to lose, gambling is a pure game of luck and it's so rare to be lucky everynight.

This is going to be an expensive thing for the insurance company. Their policy would always be in favor of them but what if at the same time most of their insurance gambling takers will have a massive loss at the same time? I'm just stating what's on my mind but I know policies will be made by them and they will not allow that to happen and at least they will have a contingency plan. The insurance industry has been existing for long and they won't stay in the business if they're not making money. But to have an insurance for gamblers, I think this won't happen.

Gamblers do tend to gamble everyday and unlike other insurance that being claimed for example; calamities, health problems, accidents, deaths, etc. These examples I give aren't always happen to every individuals that has been covered in an insurance company so I think its unlikely to happen and it could be so rare for an insurance company to handle a gambling loss unless there's a maximum claiming or money the gambler/s could get once he get into this.

Furthermore, how could anyone be called they got into a heavy loss on gambling especially in crypto? I doubt if there's something like that.

That's an outrageous idea I don't think you can find one, no insurance company will ever insure a gambler's loses, because they know that gamblers lose every night, they will lose money if they create one, if a gambler do not want to lose huge amount of money then do not gamble big amount of money and just play for fun

I really don't think any insurance service will accept gamblers about their bets if that's the case the insurance company will be in risk since the bettors will just placed a big bet since the bettor knows that the bet is insured. Well if there were such service I'm pretty sure all of the players will have an insurance already.

If there is a company that can provide insurance for betting losses, then most likely the company has a motive for carrying out an insurance fraud scheme. This fake insurance company will try to deceive its victims by offering insurance but with no intention of paying claims filed by its customers.

Betting has a high level of risk because we might lose that money and there is no definite guarantee to win when placing a bet. By considering these risks, there will be no insurance company that would provide insurance services for betting losses.

I had never heard something like this and did not find yet any company that is doing any insurance. Also, the reason is that it is bound for gambler to make losses because this is not something new. Medical insurance for patients who say have some major disease and knows that might not survive for too long under such cases insurance is not given in the same way for gambling insurance would not be given because even insurance company knows in end they players may end up losing than winning it.

Some sites gave rakeback to the gamblers after achieving their vip status that's agood consolations after playing
around and wagers good amount of money. But with this OP's sentiments, it would be hard for any businessman
out there to take such kind of risk knowing that from time to time gamblers have the same attitudes.

It's more on personal control, if you are not willing to lose your money better not to gamble or just bring the amount that you are willing
to risk never to add any to avoid losing more

partially reading these two articles(link below) it seems that insuring a gambling loss is too much of a risk for insurance agencies to offer and according to the article, gamblers can continually lose money when gambling and insurance will have a hard time covering it for a long period of time.

https://blindinbusiness.co.uk/is-there-insurance-for-gambling-losses
https://insurance.lovetoknow.com/misc-insurance/can-i-insure-my-betting-losses

The name of it doesn't need to be insurance but you could potentially leave a bit more at the table either you win or not for a bigger rebate. Like let's say you gamble for 100 dollars and play on a 1% house edge place, which means if you lose you lose 100 dollars but if you win you win 99 dollars.

Think of a scenario where it is higher, let's say if you lose you lose 100 dollars but if you win you get 95 dollars, that 1% goes to house edge and the rest may go towards "insurance" and in case if you lose it could become 99 dollars loss with 1 dollar back in that case, which would make insurance company a bigger profit and gambler would lose a lot more, but instead of getting it back each time, you could get it when it reaches 100 dollars. That way you play with higher house edge but you get 100 dollars back after 100 rounds. It makes no sense but when I thought about "gambling insurance" this is what I imagined it would be like.

I have read those articles, however I still think that insurance can be applied for your heavy loses indirectly in some conditions depends on how you determines that “heavy loss”.

1. Heavy loss because of the gambling company doesn’t pay you for the cashback bonus from percentage of your loss.
2. Heavy loss related to mental health. It is still a loss right?  ;D

There is a bunch of strange insurance nowadays. Athletes and celebrities usually insure parts of their body. So, I think gambling won’t be a strict “no” for an insurance application.

The reply above you has the point as you do, if this happen there will be another crops of gambling addicts from the ones the industry has created in time memorial. Candidly speaking, this won't work as nobody will take such risk to stand the returns of some fractions from gambler loss, though, if this happens, then the world won't be at peace with the addicts becasue they know they will surely get back some fractions from their loss and not just go blank after their loss as of before.

This will really make the situation even more worst when it comes to addiction on where they do have that kind of insurance service or loss-back amount into their gambling activity.
This will poke out your mind that you do still have something to get even though you lost it all rather than on quitting completely or do play for entertainment.
You would really get that too confident on what you've been doing but we do know all that this kind of feature or service wont really be possible for a
gambling site to give or any.

Having an insurance scheme sounds so much like a good idea but I doubt it could ever be implemented. Not very many persons are proud of betting and the few huge bettors care very little about the state of their finance and most times they make these bets, they always have the mindset of the fact that, like the bets between Joe Biden and Donald Trump. It's obvious a lot of persons expected to Trump to emerge victorious and that's where most of the bets went but, at the end, we all saw what happened. So, having this sort of mindset is going to make this insurance thing unrealistic.

Insuring body parts won't be a problem for the insurance companies because they are going to make huge money from all those premiums but if a company is going to insure the losses for someone on gambling then its their end because gambling is game of luck so if someone finds that someone is going to pay the losses for you then you will keep gambling 24/7 even if you are hitting jackpots all the time.

Its suicide for those insurances that do offer such service on putting up in on gambling business which is really prone for lots of people who get wrecked.

So its no brainer that we cant see any insurances in regards to this industry because it is really just be ending up on having some charity works yet most of the money will
just be taken out easily by claims.

Dont expect for these things to exist.

It is not necessary to have insurance for gambling losses. Most casinos already offer rakeback or some other reward system based on the amount of money you have wagered. It is not just online casinos but physical ones also reward high rollers with comps. This should be good enough. If you give players another way to receive a bail out it might encourage reckless behavior.

I would say rakeback or cashback is the only option a gambler has to gain some of the lost amount. The thread was opened in 2017 and there might be not many casinos that offer such services but now almost every casino and some even sportsbooks offer rakeback for users and there are varius other perks for high rollers.

I believe players should actually consider checking the VIP program before starting their betting because at times some casino offer more rakeback but they earn more via higher house edge while there are some casinos that will offer lower rakebacks but they offer minimal house edge so it depends on us which one suits us better.

There is no way an insurance will be available for such carwless activities. Insurances are made for situations that are unprecedented and unwanted by the owner. Sure losses are unwanted but they are very much precedented as everyone should be aware that when gambling, you will always lose. If you want a good insurance policy try learning self-control. It's free and it gets the job done.

Cashback or rakeback are features that had been integrated internally on gambling sites but returns wont really that for you to bother since it is really just small
but talking about services that do give outs insurances for gambling lossers? who would be on the right mind to give this out.
So dont expect that we would see something like this and i agree that having self control would really be enough on saving up your
ass out on gambling losses and addiction.

It would be a good idea since the essence of insurance is to protect the insured from financial loss.

Gamblers do risk their money, they gamble with the amount of money they can risk to lose or the amount of money they have. If they lose a huge amount of money, then this is clearly their own choice but with the help of this insurance they can start again, they may be able to receive at least a little amount from their insurance.

Quite simple to hear but yes, insurance is a complex business.
Don't know any company offering insurance for gamblers.
The concept is good as it is like a savings account for gamblers.
But how to prepare the procedures of claiming and other insurance-related things will be tough one.
Underwriters need to be smart in order to give fair compensation to these gamblers.

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

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.

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.

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.

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.

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.

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.

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.


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.

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.

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.

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.

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.

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.

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.

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.

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.


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.

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.

thats how it work they need to make a research on the gambler after he ask for insurance if the claim was true or not but if proven that its real that a gambler have lost they must surrender the funds as what is stated on the plan . and why will stop the gambler to complain when its the right of the gambler to complain or not but why will they complain anyway .
 why not talk to the insurance company calmly because they will still get what they want and complaining is verry unprofesional i will be shy to do that .

For sure no one will because otherwise we will already see a gambling insurance, it does not exist and it's not viable in real business. Insurance are usually for unforeseen events like tragedy cause by typhoon, earthquakes or death because it does not happen all the time or most of the time, so the rate is low, while a gambler can lose money everyday, so no insurer would take that as a business.

Neither have I came across or heard of insurance services for gamblers. And I don’t think if there would be any.
Although it would be an enticing idea for the many, I don’t think that this would be easy for insurance companies.
Whereas, there is a high probability of losses and bankruptcy if a company would be insuring gamblers.

Insurance for gamblers sound strange.
My guess is that insurances are for occasional problems or problems we didn't expect, like accidents.
I wonder who will like to insure people who choose to take big betting risk. People would probably take such careless risks always to get paid.
Insurance for responsible Bettors would make sense. They'll be expected to make very few occasional mistakes that probably make them lose huge amounts.

Forget this thing coz it probably never and ever existed in gambling. What we have to secure and filed for an insurance certificate? No, and nothing to secure with.

In gambling, we are not losing because it was an accident( as mostly one requirement to claim insurance), yet we suffered losses because that is the frequent thing to happen. And hat because we know that losing in gambling is inevitable.

I think there is no such thing as insurance for a gambler like you can get back a percentage of your losses, if there is one there will be lots of gambler flooding casinos for sure, if you are afraid to lose money then what needs to be done is just play, like a minimum game, after that go home, there are lots of reasons why people gamble, what I know is you can put something you own as collateral but not insurance when you lose.

In blackjack game there is an insurance you will buy and can be used in the game but not about the losses you make. Insurance is only for any asset that has value and its use will depend on how much you will going to pay for the insurance probably set by the insurance company. In gambling, I do not see any insurance that will going to cater for the losses of the gamblers especially if it all talks about debt and selling of house as a collateral. Insurance company will not allow that to happen when you use insurance for that kind of lose you made. Besides, a gamblers always lose in gambling and that the insurance will get high loses after it will going to pay the gamblers for their loses.

And since gambling is an entertainment, so there's no reason to let our money insured if just want to have fun while gambling. This is a burden on the part of the insurance company if they ever exist and if they operate, for sure it will no last because gamblers are smart, they want to win and just abuse the insurance.

why are we talking about insurance anyway? this is gambling, we either win or lose and we don't need insurance since we have accepted that we are talking this high risk kind of entertainment.

I don't think there's anything like that and it doesn't make much sense having something like this either...

It's not like you are not aware of risks that gambling with the money that you can not afford to lose has, there's a very big difference between gambling which is in your control and other things like having your house burned down, your car being stolen or any other thing that could happen to anyone, so better accept the fact that you can lose it all while gambling and with that in mind lower the amount of money that you gamble on if it's too much and you think you will be broken up about it if it's gone.

there is no any insurance service for the gamblers because due to the risks the insurance premium will be very high so gamblers would prefer to lose this money ) gamlers should take decisions carefully in order not to lose all their money.

I think some sportsbooks offer this service internally, but the received values are worth nothing against the loss. And there should not be such services available to gamblers imho as it will just provoke a gambler to gamble that money also which is in no good for them.

With this we only giving consent to every Addicted or Heavy gamblers to continue their Way of living because of Insurances like this?

Look How much amount they are spending and losing each time they gamble?
then Why not take a part of those Money and Insured themselves .

They don't need to look for others doing this for them because it's their obligation to save for themselves .

It doesn't make sense for a gambler to want to get insurance for losses arising from his gambling activities. When they decide to bet, they have to accept all the consequences arising from their activities. I cannot possibly hold a gambling site accountable when all my money is used up while gambling, this is a normal situation that all gamblers should accept.

Yep, most casinos offers rakeback, level rewards, wagering rewards, and other similar bonuses that allows you to gain something after that loss. Personally I love the rewrd system just like on Roobet's Rooward in which we the reward is based on how much you wagered, not loss. It's gonna be huge if you play slot games a lot.
Remember to be responsibile enough to handle your money. Don't gamble what you can't afford to lose.

Insurance in gambling are definitely a low possibiliry idea because as you know, gambling is one of the easiest way to earn money or profits and also one of the fastest way to lose it. Insurances are the on who take care if a individual is on a edge of losing something with a big amount or value and sometimes if in accidents. Insurance in gambling are quite impossible because when you play gambling, it is all about the risk of your own money in your own pocket. There is no existing imsurance for it. The idea of saving or to cut you loses is by yours idea also of strategizing how to play intelligently, good and rich. If you want some help or seek some advices, I think the most common for it is those who called financial advisors. They can give some techniques, advice for you able to avoid a lot loses and gain or earn more of the profits.

This sounds like the Movie industry ? that while Making a movie there is a small part that comes to savings for the actors/actresses Retirements ?

Sounds cool ,But Hopefully the owner of the said insurance company is not a gambler ,because there is a chance of the collected amounts will be gambled first to tale a chance of Doubling your insurance in future
 ;D

If there is an insurance company that dares to provide insurance for gamblers for any heavy losses experienced, the company will
definitely go bankrupt. Because according to statistics most gamblers experience a greater amount of loss than the amount of profit
generated. So from this alone it can be concluded that there is no insurance company that dares to provide insurance services for gamblers.
Gamblers can get several rewards and bonuses that are given by some casinos to cover a part of the amount of losses experienced.
This makes more sense than gamblers expecting insurance services from losses already experienced.

Some online casinos offer rakeback bonuses. Some offer you a certain percent of your bet stake or a percent of your lost bets so you can continue playing.

If there were an insurance service offering protection the only possible option I would think of is that you would have to respect a certain maximum stake per day or per month.

Exactly, you have a point in your last sentence and I agree that Roobet has offered Rakeback reward of all wagers not just by your loss which is a good start again if your entire balance were wiped out. This is the reason gamblers will choose a gambling site that has a huge Rakeback that they think may I guess able to recover loss once the small reward after losing will be claimed and gamble again.

That's right, just gamble on what you can afford to lose because some gambling site did not offer insurance service, once you have lost, that's it, you need to accept that your money was gone.

And gamblers should not always expect that feature. Being a gambler needs a responsible act as no insurance that can cover the loss.

The losses here in gambling are intentional act and not by accident, not the common losses covered by the usual insurance.

Just be thankful that there's a site that offers a Rakeback feature.

We do know that rakebacks do exist but not into that insurance thing.Who would be the hell would be giving out such service if they do know that gambling does involved on being on the losing side most of the time?

We might see some rakebacks but expected that would really be just small but at least the house or site do consider on giving something back in what gamblers do able to spend on them.

It might not really be that big but at least you can get some money.For the insurance then no one will and no one would ever consider because that will surely fucked up their
business if there are lots of claims.  :D

Exactly!

Because allocating a specific amount for gambling is my strategy, an amount which I can afford to lose, through this you will be able to manage your emotion while gambling and you may avoid getting stressed when the games go less favorable to you. Greediness will also be lessened in recovering the funds that the players lose or gaining higher profit if luck comes your way.

I'm not sure if this is applicable to others but in my years of gambling my perception over it remains the same that is I play gambling just for fun and entertainment. With other opinions that I bear for years though I often lose like the others but never I experienced anxiety nor a pang of single guilt in playing gambling.

Therefore, no gambling site that has incentives, that's impossible. Just accept your losses if there is.

rakeback feature is not always present in every casino. lucky for you if the gambling site you are playing with has one. that is right, why would insurance companies will explore the world of gambling when they know exactly that gamblers are almost always on the losing side? very few can get out with their winnings. insurance thing in gambling is no doubt not profitable to be involved with. if it is, for sure, it has been already exploited with a long time ago. not gonna see this kind of business in the gambling world.

It's a promotion in the site, I do read that kind of promotion "rakebacks" from some of the sites but if ever there's an insurance in gambling, it should not be the gambling site who will provide and insurance but the 3rd party which you are right does not exist.

I really didn't think of things like this because even if there is insurance related in question, I guess it only applies in areas where gambling is legal and regulated by the government. For that reason, I'm not sure there is a company that opens such a service but if there is such a service out there then of course that is something good, because even if you lose in gambling but with insurance at least the gambler still can go home with some money in his pocket.

As far as I onow there is something like this but is exclusive in Japan only. But there is a catch. It has to be golf and the parameters are as folows:

*Must be playing golf with an acquaintance or a friend
*Must be betting to get a hole-in-one
*Must get a hole in one

Under these conditions, the person who sinked the ball will have to automatically throw a party that may cost him/her something from $4900-$8000. And so, insurance companies in Japan includes these in their packages so winners don't have to pay for the party leaving them cashless in the process.

That can't be considered insurance IMO. It's more like a promotion to attract more golfers in that place. If it's in their culture to throw a party when they sink a ball then that place offering that kind of "insurance" will earn tons of profit. Out of 100 balls being hit, think how many to that is sink. If it's only 10 or less then they are surely earning a lot from that.

Some of gambling companies offers this kind of service and it was legal here in my country but you need to pay your taxes in government also even you lose that much once you played already win or lose you need to pay, it is like you lose more but there are some good news some of them if you lose they will give you an item you can sell or rebuy some stock to play again but it is up to you if you want to continue or not . because in the end You still lose because you the tax you to pay.

At least, they still make money from the gamblers because they need to pay taxes, whether they win or lose. But I don't think that if they give an item to us, that can cover our loss or not because I don't think that our losses will be small. But that item can give something to us, and at least, we are not losing all of the money, although that item can't replace what we already lost. Yes, we still lose because we spend more money to pay the tax. From that, I think we need to be careful to spend our money on gambling games.

Insurance would make a term that's in favor of them and not with the insured gambler. There will be some possible terms that are different from the typical insurance that we have.

Like premiums will be paid higher and the coverage would only meet near to that amount coverage and the insurance company would earn high with the fees. Or there will be a huge minimum amount of being insured to avail this sort of service. But until now, there's none like it. Never seen one.

I agree that the system is as good as any given by the gambling platforms, if we gamble of course we will end up losing money. Because
gambling platforms were created to get profit from losing users, so if we are guaranteed by giving items if we experience defeat, does not
mean that these items will be able to replace all the money lost when you experience defeat. So I agree with you to be careful when spending
money when playing gambling is important, we are also obliged to limit ourselves when playing gambling. We must know when to stop playing
gambling.

well if there are insurance service for gamblers i really think that would cause them too much trouble since most of the time gamblers will always lose. well i don't think such insurance exist if there's one probably just a scam one.

Why will cause them trouble ?when before having a Insurance plan you need to pay for a certain amount and if you did not comply to the specific Dates allocated for your Payment ,then surely they Will lose the Plan and the advance payment will be theirs ,actually this is a win win Business,as Gamblers wont really continue their Insurance .

Insurance company should never go into gamblers instead to gambling activities. We know that gambling business will always do good because of house edge. This is why in the long run gambling business will do good and should insurance company encourage to get their insurance services. This will help them to earn as insuranfe provider and at the same time to get the gambling business at ease whenever sudden loses will be experience and that loses can be cover by the insurance.

As a gambler, to know that whatever loses i may admit whil gambling thinking that i am covered with loses insurance as a gambler would definitely enjoyable and could give gamblers a free to decide how much they wanted to take risk without worrying of how huge their loses already. But as much as we wanted to have a gamblers insurance as of now there is no insurance company considering this.

.
 I think it's better to insurance company to have it in gambling casino owner not from the players. It will not work if it's for players, for a reason that they are gambling their own money ,and they will not stop as long as they have insurance expected to claim  and how will the insurance company benefit then?

That's crazy idea but who will pay for anybody stupidity if any player can't afford to loss than he should never do gamble in any way. This idea wouldn't work in real life because nobody want to put their business on risk when someone get guarantee he will get recover his losses and its against the spirit of gambling too.

I haven't heard of one either. And I think that one could hardly be offered by insurance providers because that is too risky. Gamblers are losing more often than winning. The high rollers or VIP gamblers, who are probably the ones that will take advantage of such insurance product, are definitely losing a lot of money all the time so that would result to a lot of payouts from the insurance companies. They might end up bankrupt if they get into this kind of very risky kind of insurance business.

I love this one, You have given me an idea because me and with my best friends wanted to venture in a Small business that will let us explore the world together and at least make profit.

We all love to gamble but with moderation so Having an gamblers insurance company will be our break,also our offices  located near the biggest Casino compound in our country si targeting and luring will not bring us hard time.

And i will start this here for promotion Posts ,because i think Many gamblers also wanted to settle their Future but the call of gambling is always there, so We may help them enjoy their moments while having at least foundation for the future.

But sounds worth having one right?specially to gamblers that has no much family left,insurance will save them in their darkest days when the effect of too much spending from gambling comes..
Or maybe there are something like this but not familiar in this forum and from us also.because i believe that all kind of business and offering has been done by humans noawadays.

This isnt something that you can make out some claims or do connects with health or any accident insurances but particularly talking about some partial amount to be given back when a gambler do lost.
So its just too dumb if you do consider to compare it out to some regular insurances that we've known which doesnt really fit out into the criteria.No insurances or business will be built into the
field of gambling because that would really be a suicide if they do that knowing that gambling is always on the side of losing for those players which means claims will be active.
Would it be sustainable? A big NO!

The problem is how legitimate is the insurance service because hoping or keeping trust on them to retrieve lost or embezzled funds I don't really think is hundred percent sure to relay on them, the best option is not to get lost of anything, because I think we have possible ways to prevent getting lost of things that are important, irrespective is gambling their is ways of gaining.

You have quoted a banned account there is no chance he may reply lol.



But yeah why seems no one is offering this? Is there no good returns if insurance for gamblers may be  opened ?

I thinks this is worth investing ,because all they do is spending and not thinking for what tomorrow may bring.

The casino's profit from the gamblers will become bigger if the gamblers don't realize how to stop playing gambling or how to manage their money, and the loss itself will become bigger in the long term. Perhaps, the gamblers think that when they lose the money and get an item to replace all the money lost, that is worth it for them because that can be something they brought to their home.

If we talk about gambling insurance, I wonder how the company will guarantee the gamblers to get their insurance losses. If the gamblers lose the money in gambling, it will be a bigger loss, and I wonder how the insurance company will repay the losing money.

It's just encouraging more gamblers and even non-gamblers to gamble. Someone can get addicted and ruin their life without hesitating to gamble just because they are insured. Gambling is voluntary so it's not anyone's fault if they ruin their life because of this.

This is indeed worth having if you are a chronic gambler. Gambling is designed for the gamblers to lose and for the gambling operators to win, so a gambling insurance sounds well needed.

But this does not sound a good kind of business for me that's why I won't be wondering if an insurance such as this does not actually exist in reality. All kinds of business exist nowadays but this specific insurance seems not a business for me. It might as well just be a charity for those who became poor due to unmoderated gambling.

I don't think it was encouraging and attracts non-gamblers to go gambling because these people never think this thing. In real life, people come into gambling because they want to win, not being insured, and getting back their losses.

Well, I would like to see if there is a site that did this thing consistently.
TBH, this kind of service will be good but to wonder why we never saw this is probably due to the fact that they are not true to their promises and the site itself never profiting.

Isn't that what every gambling site wanted for their users to come back for more even with big loses and with this service where every gamblers will have more and more confidence gambling due to the fact that they have insurance even if they lose.
Anyway, it won't be this service that will be the cause if they ruin their life rather it's their choice that they get greedy with gambling. With this service, it will help every gambler to at least have some money left even after losing and it will their own decision wherever they want to use it.

I don't know any gambling site that has the insurance for being lost and I don't think that there is a gambling website that will do the thing because the only intention of them is to gain profit and don't care too mu h for their customer but you know what I just realized that this is a good feature of a gambling website that they may open, for sure if there is a. site that may offer that thing then a lot of gamblers will play on it and they will get a lot of customers, more players then more income.

Correct!

When you do gamble then its a self-made  decision on which if there would be some sort of insurance then that wont really be an advantage for any insurance company
yet we know on hows the condition when it comes to people on ruining their lives plus on having lots of losses.

If this kind of insurance does exist then I cant imagine on how many people would be claiming out considering on how many is being wrecked by gambling.

I just read the news about a new system on GG poker for poker players. It's not a general casino but specialised into poker games. Most of us here on the forum like gambling and probably played poker before. The new system is called GGcare and is a likely coming out year. This new system is a kind of protection for bad beats and especially unlucky gamblers. It's kind of a separate jackpot for only the people who lose big time. It's not an explicit insurance but can still help recover losses.

I'm sorry I don't really know that the account has been banned I won't have quoted the comment or reply  to these, thanks for putting me through.

At this will caused a major at loss for the company since it's easy to lose on gambling and for sure the money will always flow outside in their company if they will open a insurance plan like this. And I don't think there's something like that will happen or open up since this insurance in gambling is not totally profitable to any company.

This isn't some sort of car insurance or health insurance where only a few or seldom accidents or deaths do happen.It would really be indeed like a faucet
where those money will be flowing out and will really be a big expense to them or wont really be realistic at all or the worst they would pay up more than
on the amount that they had accumulated into those who do pay up for insurance.
They wont really be making one because its just like on trying to hit their heads with a rock. hahaha

Why not Give this a chance? is there anyone who knows something related to this? My Uncle is a Heavy gambler and since he is still single and not getting any younger i want Him to have this insurance if there's any.

Gamblers Needs assistance because many of them are just being blinded of the Greed input to their mind because this was being thought to them of gambling or gamblers that encourage them to learn this,so they have no long views of the effect but what they know is the present .

Indeed ,gamblers need Help to Control their activities and not to Consent them on doing addictive days because f having this insurances .
if you are saying gambling sites that offers this then surely they won't have this ,but the rakeback is their way of giving insurance ,because they knew that gamblers will just use it all over again to bet.

Well that sounds really good and of course it will be a lot of enthusiasm among gamblers, but I wonder if that applies to all players because I realize every gambler will have his limits on the financial side of bets. So, is it possible for a gambler who only spends a little money but in fact he always loses and is still in the system that will get the insurance referred to, or maybe only applies to high-end gamblers, that's interesting.

This will favor casinos if there is insurance that will cover their losses. This will also encourage gamblers to fearlessly gamble. But, if such insurance exists terms and conditions for an insurance claim for gambling losses will not be as easy at it seems. This might lead more gamblers being addicted to gambling which may cause serious gambling problems. Insurances will not let people get their money out easily.

Not a thing Mate, it was a sarcastic Joke since the Forum is celebrating for that event ,as the Troll game protect is already banned and may lessen the trolling against gambling sites.

Even if you encourage them or not yet they will still gamble so why deny the privilege of them to have insured ?
and besides It's their life not ours ,we maybe concern about them but they don't even have concern for themselves ,So instead of being a burden for the government in future when they become retired .then let them have this insurance so at least when they are already Crying hard for their past mistakes in spending too much in gambling ,at least this insurance will remind them that they are not a total loser at all.

Maybe they'll consider having this one as they'll also be compensated if service being offered.


That's the sad truth  as it will just make  the gamblers more fearless  to keep playing  and wager  a lots of money.


It should be like that,  having  this service needs to more strict  in  implementing any rules that applies.


It falls to this problem,  as it may encourage more gamblers to go more engaged with this activities.


Maybe  portions of their  money but its not everything  at all, and strict rules needs to be made to avoid abused of the service.

This is a lol for me.

Why should an activity like that have insurance? It's like saying people should just gamble and gamble and gamble because their losses can be covered.

There will be no disciplined gambler if they know there's a thing on their back that can cover all their losses. They will just throw money doing gambling without thinking of a good strategy on how to minimize their losses.

actually i find no funny in this mate,gambling has a tons of money involved so Why not provide insurance business? Who cares about what gamblers do ?who cares if they gambled all their time? the thing is this is business and what only matters is their payments and continues membership ,and also if they stop the dues? then business owner gain more because there is no refund in insurance like this.
Disciplined gambler already knows that from the start ,they know what's good to do so they need nothin to be insured because they can plan and invest for themselves ,so the main objective is not for them.

Absolutely mate and this will extend the Stupid ways of other gamblers .
yeah possibilities are .
Well That's something that we can't prevent mate, but lucky that there is no existing company that offers this.

No one will care about what gamblers do except that person because he needs to realize that playing gambling all their time will not give them a big chance to win. It is their responsibility to take care of their money. If the insurance business is used in the gambling industry, it will not be easy to give the gambler's money, especially if the gamblers use big money to gamble. After all, the gambling business owner will get big money from the gamblers, no matter if the insurance applies to the gambling industry.

Unless they only set on what amount the losses will be insured I'm thinking that it will be huge and more strict since gamblers tend to be more agressive to gamble when they know there's something to be backed on them may it a salary or some insurance (if there is). I do agree that it will just get more problematic if this kind of system is implemented and I don't think that even in the near future we will ever see this.

This is a good idea and could benefit both gamblers and the insurance company but the insurance company will set the condition and requirements before they can compensate gamblers for their losses, I'm thinking that we need something like this so gamblers will not really lose everything, but at least they are going to get something.

This is a joke, even if they set an amount to be insured but I don't think there's a way that both will benefit, either will benefit and the other will suffer, and therefore this is not viable as a business, if it is, one has already think of it and implemented it in the past.

Both have a point if it might encourage gamblers to gamble more or not if gambling sites would offer such things. But it depends on the gamblers If they will let themselves be tempted with the insurance or not.

The service seems good but gambling is a risk and it's our individual choices and free will to gamble, so gambling sites are not obliged to give us insurance services for our possible losses.

Gambling in casinos and bookmakers is not an option in which you can somehow assess the possible losses, especially of some third-party campaigns. The risk of incurring financial losses is so great that no one wants to associate with it. The only option, for loyal customers, is a possible return of a part of the total loss.

There isn't similar service and won't be. When it comes to insurance, you pay a fixed amount of money. Years may pass and you won't have a need to use insurance (health, auto, etc), insurance covers the things that are unlikely to happen from you (Do you want a car crash? No). It happens like money is collected and spent on those who need it at the moment in different things. Gambling addiction is a thing that needs treatment. When you pay for example $100 in gambling insurance while losing thousands of dollars, it's can't be a profitable business. You gamble and it's mathematically guaranteed that you'll lose on long term and since insurances work on long term plans, it won't happen.

Insuring gambling loses would be like insuring the gas in your car. Though it may sound nice for the person that wants to insure, it's an stupid idea on the side of insurance company. These insurance companies only insures for events that are not most likely to happen. Less than 1% is what they aim for. And in case of gambling, there's more than 50% chances of the player losing.
If you think they could go with small rewards to mitigate the risk, there are some gambling site that provides with a cashback. Which itself is a small insurance against loss.

The insurance companies will go bankrupt if they insured individuals against gambling losses and it would be highly unethical to do that, because it would encourage people to gamble more, if they knew that their losses would be covered.

On the other hand, I have seen a Lottery site that offers Lottery services from sites all over the World and they take out insurance to cover their payouts. So even if they do not host all the different Lottery services, they are still covered if someone wins one of them. (You can play Euro Lottery and the US Lottery and even a 2000 BTC Lottery on one site)  ::)

When you lose a lot of money, several scenarios can arise. You want to win back the money as quickly as possible, and you get tilted and bet a lot more.
You relax, don't gamble for a while and think about not giving up gambling completely. You agree on a limit with yourself and see gambling as fun and not something to make money with.
There are more options, but these seem to me the most common. The main question remains: Do you want to continue gambling or quit?

Insurance companies are on the business of making money and nothing more, they are not gamblers unlike the clients you want them to take, if they think the risk is too high they are not going to take it and to try to insurance a gambler when it comes to their activities in the casinos simply do not make sense, the notion seems like nothing but a dream for gamblers, they just want to gamble and not face the consequences, and things do not work like that.

Its totally nonsense if you do consider out that insurance company are indeed aiming for profits or simply a business and on what the heck they would building out a business if they do
know that they are on the negative side of things.

If gamblers do look for some cashback or rakeback then house do offer that but they shouldnt dream that  there would be some sort of insurances that will really be diving into this kind of venture.
Its just totally nonsense.

If you dont like to suffer problems then better not to engage with it.

No, gambling is fun, we lose that is normal but we have to avoid a heavy loss as that is not gambling responsibly anymore. We are not into business, at least for most of us, we just want to enjoy and hope to win, that's it, but those who are really serious, they have to ensure they have the knowledge and the ability to stay discipline all the time, regardless of how much they loss.

Insurance are only for coward.  ;D

This is the first time I've come across this thread which kind of defies logic. You're asking should we give a chronic gambler a get out of jail/the poor house card to help ease their pain.

It's no different to suggesting all alcoholic anonymous meetings be held in the tasting rooms of a major brewery.

It just doesn't make sense.

Gambling is called gambling because it takes guts to put money on the table without knowing if you are going to win or not. If a casino would offer an insurance for people who gambles, it might be an asset for them because people would come knowing that still they will not lose all their money. But it will just lose the feeling and culture of gambling since you will be a loser after all if you are not lucky enough.

The majority of gamblers do not expect that an insurance company can set up an insurance plan for gambling losses, but we can recommend that they set up a plan for those who can give up gambling for a period of time, it's like compensation for not gambling for a long period of time there should be a compensation for those who are trying to give up being compulsive gambling, even if the cost is coming from their own money.

Gambling is all about risking our money for an additional earning. Here one can be lucky or else can end up losing all the funds. If there exists an insurance scheme to compensate the loss, then gambling won't be that effective. Maybe users who end up losing big could feel little stress free if they get atleast some funds. The chances of such insurance scheme is quite low.

Insurance services meant for gamblers are unlikely to happen, at least not during this times. Setting up such services would need a thorough discussion and planning because it can make the other party suffer more by escalating losses or influencing addiction.

It is total nonsense but people see it and they are attracted to it because they think they will finally have deep enough pockets to beat the casino but this is nothing but a dream, insurance companies are in fact world experts at grading the risk a client brings and if they are not happy with that they will either try to convince the client to change their ways or simply drop the client and there is no way any insurance company in the world will take such an obvious bad deal for them.

Make a plan when you gamble. Using a limit on your own can also help. Some sites also have the option to set a limit when you play.
The problem with that is that you can then easily switch to another site and continue over there.

We wont really need any feature that the house do make some limit towards your gambling activity. There might be some cautions but they wont really be making for you to stop or
totally block you forcefully. I dont know on which gambling site you are talking that theyve been limiting you to play to know that they do much prefer for people to continue
until they do bust up their entire bankroll.


No business will be considering on jumping or applying gambling into their vicinity or scope of benefits.Its just really a suicide into their business if they do able to do so.
Lots would be on lost and lots would really be claiming and even if they do ask out for some premium amount for the insurance then i dont see of it to be enough.
Why would need insurance if we can actually stop ourselves midway before do get wrecked?

If insurance guys already think of something for gamblers, we should have that a long time ago. But seems that no one dares to touch the insurance thing in gambling industry. Because degenerate gamblers will bankrupt them easily.  :P

That is what we must do before we gamble, but unfortunately, most gamblers forgot to use that limit and plan, and that can lead to losing their money as soon as possible. The casino can offer the option to limit the money and time, but the gambler needs to have a responsibility to themselves, so they don't get any problems. The insurance company can't help the gamblers, and if the insurance company knows that the gamblers break their limit, they will not give the money to the gambler because that is their mistake not to take care of their money.

Insurance agencies will never touch something that will lose them their profit, yes they will not go for compulsive gambling as part of insurance because they will be losing the money because the player is always losing the money, it can still be possible to formulate such dangerous type of insurance though, the only problem is you need to be a persuasive one.

Do you really understand what your talking about? Insurance is business and Everything that will give them Profit is what they care, You should try to have a Good understanding before giving your opinion because this only proves one thing ,You know nothing about How business goes.

Insurance company is one of the biggest profit making business because this has need no big capital ,you only need to Collect and collect for the time being because they will only take their part once the time of their choice comes and mostly it will take long years.
and what are you saying that "Insurance Money use in gambling industry"? Gamblers need to Pay insurance directly in their Pocket and it is not the Industry of gambling will care for them.
It is not onlythe gambling owner can create a insurance business, it can be done by private people , they only need to approach gamblers to insured their names and pay the specific amount per month,quarterly,semi annually or annually depend on their terms.

what important here is that they will be insured for their future.

The insurance may surely loaded with clients if ever this kind of gambling loses insurance happen. This might be the happiest life of gamblers and they may never feel wprried about their loses and they will definitely enjoy their game.

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.

Which makes this specific kind of insurance a failed business in this case. If gamblers will gamble more often than ever because there is an insurance company which will pay them their losses if they ever get big enough, then the gamblers will definitely drain out the insurance's fund. It may happen that the insurance will pay bigger than what it actually receives from the gamblers' payment plus any additional income from investing these funds.

Having  a fixed stop loss limit is a good approach to gambling. I also like the new emergency button which is added to most casinos over the last few months. It's not really an insurance but if you lose big and want to take a break, it's the fastest way to look yourself out. And it prevents you from logging in again over the next 24 hrs. So you protect yourself from losing more.

Even How good features gambling site offers us yet it is our desire and self control that will dictate the outcome , gambling is not that bad the problem is our approach and treatment .
For a Long time gambler ,Realization is what they face that We will never win In gambling if we know nothing in How to manage our funds and winning.
Or Maybe there are already existing ?we just don't have idea ,because this seems to be a Good business so why aren't starting to offer this.

Not a guarantee that it will protect you on further losses. You might had been blocked on a site for 24 hours but to consider on how many gambling sites out there is
available for you to play? Registering does only need few clicks away and then youre good to go for you to play once again without needing to wait for a day to play again.

It all matters on self control and you can actually stop if you do really tend to so without having those buttons or whatsoever.If you do really play gambling
with have corresponding financial limit then you would really be aware towards your spending.

Like any gambling, you should give yourself a budget say $100 at a Casino and when the money's gone, that's when you walk away.  Similarly, if you've been playing for just ten minutes and win $500, you should also be prepared to walk away, even if it's just to the bar for an hour.

Please don't cut my quote if you don't know anything and not understand what I am saying.


I know the insurance company is one of the biggest profit businesses, but they need to have a big capital to create that business. How can they pay people who ask for the insurance if they don't have a big capital? It is not right that you only need to collect and collect your money from customers, but you must be on their side when they got the worst thing. Do the insurance company give the insurance money to their customers in a short time? While they ask for the insurance fee for their member monthly, and if their members are late paying the insurance fee, they need to pay a fine.

I am saying in the previous quote that the insurance company and the casino will not care about the gamblers because all they want is just taking more money from the gamblers. That makes the gamblers need to care about themselves and have a responsibility to take care of their money, not lose their money, and don't really need the insurance company to ask for a refund because of their loss.


I don't say "Insurance money used in the gambling industry". Please read carefully what I write.

Yes, gamblers need to pay insurance from their pocket to which I don't think many gamblers will agree with that because that means, they need to spend more money, playing gambling and pay the insurance fee. They will feel they don't have free will to manage their own money, although with or without insurance company integration can make them have an effort to manage their money.


How they can be insured for their future while they are playing gambling and have a chance to lose their money? Is it because if they lose money, they will get their money back? That is not so fast because the insurance company will not pay the money to the gamblers easily. The insurance company will investigate why the gamblers can lose the money, especially if the gamblers lose the big money.

The whole point is the casino can integrate their business with the insurance business or create their own insurance business, but the gamblers can deny that plan, and they will try to search for the other casino which doesn't have the insurance.

This will have two sides, which is the gamblers who will use the insurance business and the gamblers who will not use the insurance business.

I never heard something like that when some site offers those things, I mean every player will get to that site and continue to play there. I think that's just a matter of assurance when you lost on your big bet and you will get some money for your loss. If that was the case then those people who play on that kind of platform will continue to play until they lose everything they have even the assurance they got from their heavy loss.

It is just ridiculous to even think that some insurance company would be willing to provide cover in case you gamble irresponsibly. Losses always happen during gambling. If you want to avoid "heavy gambling", then you need to stick to strict profit booking and stop-loss targets. Insurance companies can't help you in this matter and if you incur losses then it is up to you to deal with them.

Limiting is a must.

If you keep on switching from one to another, that's not a problem. A gambler is doing that if he's not satisfied with his game play on the certain casino he's playing.

The insurance is out of that but there's no such offer to avail, that's why that limiting is the manual method that a gambler can apply to avoid too many losses.

If you know how to limit, means you are responsible, you don't need an insurance for that since insurance doesn't really exist in gambling, you know what exist, it's taxes, from players and the casino operators, so we don't need to hope for that.

If there's an existing insurance, most gamblers would avail that even it will cost them money.

The control is where the difficult starts. But it's said, that harder to find if there's one that exists. And in that reason, controlling would be the safest option if someone wants to gamble with assurance of mitigating the losses.

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.

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.

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.

Ahahahahah  ;D
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,.  ;D

Happy New Year to all jokers like you!  ;D

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.

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.

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. 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.

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.

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.

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.

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.


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

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.

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.

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.

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.

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.

Seems like it's all the same in the end.  They could get the same result from adjusting their odds, but by targeting certain losers with a higher cashback reward they have the ability to steer users to gamble on a game with a higher house edge under the guise that they will lose less funds overall.  The opposite of course being true.  This is just one potential use case of such a reward system.  I'm not saying that there can't be other reasons also, like to get attention on new games.

As much as we wanted to have a privilege to cut our loses or save our loses by having such insurance company that can save our loses but then there is no such thing like this.  It isn't possible to happen and isn't possible that an insurance company may provide such chance.


 
Well if its the case i guess it is much better to have a cashback even a small amount but on the other hand these cashback wouldn't cover what you have lose and these was a simple easing the feeling of losing while gambling.

I do not see how a profit could be made out of this unless gamblers gave their houses as collateral to the insurance company, which would speed up the demise of any savings they may have but even that could not be enough for an insurance company because as we know you can get easy credit everywhere and it is possible a gambler could rake up gambling debts higher than the value of their homes, so this is a concept that I do not see working no matter what.

This is what people been saying on this thread about insurance company profitability which is impossible for it to be tied up into this industry.
If we do try to balance or check out regarding gambling losers' and insurance claims then it isn't a sustainable business.So theres no point for this
thing to insert out into this industry.Lots would really be claiming but those premiums wont really be that on typical amount that you
would be paying just like into those normal insurances that you've known.

In the end, the gambling industry is not very suitable for insurance companies, because it is very unlikely that the insurance company will make
a profit in the gambling industry. According to statistics it is clear the number of gamblers who experience losses when playing gambling is more,
compared to the number of gamblers who win gambling games.

So if there is an insurance company that dares to provide insurance to gamblers who experience losses, then the amount of money spent by
the insurance company will of course be more than the premium payments received. Logically, it is clearly not profitable, so the conclusion will be
that no insurance company will dare to bear the losses experienced by gamblers.

If you kept your money from the start of this thread until now, even if you had lost half the cash then you'd be in profit from the overall gains occuring in BTC.    I think that was a hidden secret to using BTC to gamble that actually once you transfer that amount and commit to keeping to that as your budget then you are within an overall growth system and for the last few at least and to be fair in BTC overall its given back gains to people who just hold it.
  Just thought I'd mention what we all know, not saying I had this master plan exactly and sometimes I accidentally left accounts with BTC in there and this is what happened it regained my losses via value appreciation.    Some companies do gift back in various ways or loyalty to big gamblers, I've seen that more then once also but otherwise my idea about covers it.

You'll probably find if anyone who thinks this half baked idea were to work were to actually phone up an insurance broker and outlined that you wanted to take out insurance to cover your losses through gambling they would either hang up, or, get your contact details (to pass on to other companies) and then hang up.

I don't think I'm going to lose a big amount of money and if there's a cashback even for a small loss, I'll still take it I cannot blame gambling site if I lose and I consider that cashback as free spins and free bets they offer as a bonus not in an anyway as a consolation for losing a big amount of money, you should always feel comfortable on the amount of money you are playing with online gambling, it will cause depression if you do not.

There's no need to use Houses as collateral because Insurance is an Obliged payment either Monthly or quarterly or semi annually in which if they fail to pay the obligation then their Policy will be porfitted and they will lose everything they put in application .

and besides Gamblers that wanted to have a Good returns from insurance company will comply to this or else they will lose everything .

The main problem with the idea is that it will be hard for any company to insure people who intentionally take big risk. It's not a sustainable thing to do, especially if they are habitual big risks takers.
It will however be possible to insure bettors who are responsible and/or are consistently profitable.

For sure you'll feel that way once you lose a lot. You need to make sure that each time you play your favorite gambling games you are ready to spare the money, in case you lose your money then you can just let it go and move forward.

Insurance is good if there's a company that will cater this service, though it's very tough as there are many gamblers who are addicted and unable to handle this vice.

Rakeback is something that the house is giving as a token of appreciation playing
in thier platforms not an insurance but something that being shared with your wagered
money.

Cashback feature is used by almost all online gambling sites mate not only by the mentioned gambling site, it not something new and there's also some terms and conditions used by casinos before they give cashback to their user. However, the cashback fund is not equal to the total fund gambler spent on the site.

Your intention is good actually for the gamblers, where there is a cashback similarity in the insurance you are talking about.
But just like what the other said, never gamble what you can't afford to lose this was most often mentioned. But who knows if some of the
gambling owner read your opinion to this, this might gonna be a good tips.

If the casino have that feature, it could attract the gamblers to play longer because they will think thatt if they lose the money, they can ask the insurance from the gambling site, and they will get their money back. It can make gambler become addicted to gambling because they will not worry if they lose their money, and the casino will get more profit from the losing gamblers.

And there is no more telling evidence that this is correct than what we see in the market already, is there any insurance company willing to take that kind of business right now? And the answer is no which should make clear that there is no money to be made there despite the fact that insurance companies will try to insurance anything as long as there are profits they can get, and example of this is the covid pandemic, at least where I live medical insurance already covers medical costs if you get covid and yet they will not touch gambling no matter what.

I don't think this economic model has any right to live. I don't see how an insurance company can knowingly calculate the risks of losing money from a person who regulates these risks himself. That is, from time to time a person risks very much or very little. I don't see how this can be put into a mathematical model. :-\

if there are other types of insurances ex. car and health related.  why not this , and no we dont have the rights to dictate if they can exist of not  . we are no experts on this field , thats why we think it wont work but they can think better than us and maybe they can make this possible in the future if ever there isnt any available

this is the same on other types of insurances , how can they also know that the car will get damage or the person will get to an accident ? there is no way to calculate risk  .

they have stats accumulated throughout the years. car insurance has been here for so long already. so basically, they have records and stats already. whereas in gambling, where do you pull those stats? casinos dont disclose such stats of their players. for online players, you can easily see your stats. but are these casinos willing to disclose these data to insurance providers?
right now, venturing in this type of insurance is very much complex. so they dont want to explore their opportunities in the gambling area.

You mean those statistics that showing up your total bets, wager, profit and loss? Majority of gambling sites now do display those kind of information on a certain player
but of course they do have some feature which you can hide off those statistics.

Even if those insurance company would able to see those numbers but still it wont really be them to be that dumb on making a business with gambling industry.
They are just trying to hammer out their own heads if they do able to do so.

Gambling do majorly involves losing and users getting wreck and they cant just afford to grant those claims actively.Its not sustainable.

Certainly I don't want to reject the possibility of creating this type of insurance company. But at the moment my experience and understanding of economics does not allow me to imagine how it could work


That's where you're wrong, buddy!
There are statistics, for example, depending on how many cars in the area where the person who insures the car lives and on what percentage of traffic accidents there is, the higher the percentage of traffic accidents, the more expensive the insurance for car.
The calculation of risk is made with the help of indicators, including those similar to those described above

The thing with insurance companies is that usually don't offer tailor made insurance policies. They work on an aggregate level and offer policies that are usually similar for everybody. Only small adjustments are usually being made based on age. For example retirement funds offer the same policies to men and woman even though the life expectancy of woman is higher and they will likely get more money from the policy. Making special policies die gamblers based on their track record seems to specific for me.

Good point. If there's no data available then there's nothing to base whether the business will have a good profitable outcome.

Businessman always relied with possibilities and potentials before starting their ventures in any types of business, if this information is not available then it will be tough and very risky not knowing where to base your potential profits.

This is what we called as the business risks. In the world of business this is just natural and life with business is reay tough and challenging. In so many cases, especially the start up business will fail but if the one who manage it endure and learn from the mistakes it will become successful over a period of time. This is really what happen to almost all in business that are successful nowadays starting from the scratch or small time.

In fact insurance companies are probably the best when it comes to calculating risks, when they give you car insurance they take into account your history as a driver, your car and your age to create a profile of what kind of risk you entail to them and then they charge you an amount of money, even if you end up costing them more money than what you paid to them on average they will profit from people like you with the money they charged you and if despite that they still do not insurance gamblers this tells you there is no money for them to make by trying to insurance people that have gambling issues.

That made me think as well, I mean no insurance company ever created an insurance for gambling money and these two, gambling and insurance, has been with us for a long time now. I mean anywhere in the world we do not see any insurance company setting that up and profiting greately from it. Someone might try that but he needs to do it in a country with a large population of gamblers paying a monthly fee and then try to make all the necessary mathematics to compute whether it is profitable or not. It is a must see.

Despite this idea, I don't agree with it.

Yeah, it is a great idea but if we will be thinking about it, don't you think gamblers would just take advantage of these services and don't mind their health when it comes to gambling? Instead of supporting them to gamble their money, we should be doing something that makes them in control of their money that is for the better of their lives.

Of course they would take advantage of this service. Why wouldn't they? This is to their advantage and financial protection. If such a service is offered, it is first and foremost offered to the heavy gamblers.

This product does not mean encouraging the gamblers to gamble more. This is only in place so that these gamblers will have to reduce their losses. But it does not mean that other efforts such as taking care of their health or minimizing gambling is set aside. This is just another product for their protection.

I agree, it seems the idea behind all of this is to help gamblers avoid losing all their money when they are gambling in the casino, which is a nice objective but this is not the way to do it, insurance companies are in it for the business side of it, they are not charities, but unfortunately despite the existence of many groups of people dedicated to help addicted gamblers to recover the first step still have to be made by them, if they do not recognize that they are addicted to gambling then they are never going to look for help.

Who are those groups that you've been talking into?

No one will help out in terms of financial.yes, they might able to hear off with some advises but those are only good on that part and the rest would really be not on their business to help you with money.
Businesses like Insurance company arent on their right minds to do things like this on where building up some or giving out some service into an industry where losses is always been happening.
They are indeed here to make money and not to be milked out something like on supporting those gamblers to take at least back of their overall loss.It doesnt really make any sense.

That is true.

Although you should know that despite the main reason for this project or service, gamblers will obviously take this as an advantage for their addiction. They are getting money from these services which means adding more amount of money that they could gamble. And since this is just insurance for their money, the mental health of these gamblers are still at risk.

I am not talking about insurances companies I am talking about groups that help those that are addicted to recover from it, just as there are groups to help people to give up alcohol and drugs there are also groups dedicated to help gamblers, after all while being addicted to alcohol and drugs destroys your body being addicted to gambling can be even more damaging to your economy as there is no amount of money that can protect you of getting bankrupt if you get addicted to gambling.

Yes, gamblers who are much addicted will take it as an opportunity and spend good on gambling without thinking about the losses. Maybe it requires certain restricted framework, terms and conditions so that it could limit them. Everything has got advantage and disadvantage. Maybe this can help the family that is behind the person who has lost all through gambling.

I think that is what the insurance company think and they will need to pay big money to the gamblers who are already losing too much money. But I guess that the insurance company will not easily give the money to the gamblers, and they will investigate why the gamblers can spend too much money on gambling. If the gambler uses it to get their money from the insurance money, they will not agree to give the money to them. Maybe there will need more discussion between the insurance company and the casino and maybe they can invite the gamblers to join in that discussion.

Indeed, insurance is business as well thus they wont enter into a situation where they cant gain anything. But I think its unlikely to have an insurance meant for gamblers, I wonder what could be the terms and condition.

Well if a gambler is worried of possible losses then dont gamble. You should have a lot of guts to face the consequences if you happen to lose. Hence we need to be more responsible by controlling ourselves. Insurance is good but whats more better is be a gambler that knows his limit.

I agree with you. If we as gamblers had such an insurance we wouldn't care anymore about the risks. And would just be going all in all the time. That is why there are special laws in place to protect your insurance companies. For example if you drive recklessly and destroy your car than the insurance company is not going to cover the cost. If you have control over the probability of an insurance event happening you will also have to take most of the risk.

There would really be those exclusions since they are business, they wont really be allowing those kind of small chances or intentional breaking off things
just to get their claims.So its understandable on what they are making out rules for those situations.In gambling where risk is always in all angle then they
wont really be making a business with it.Insurance? they are making business not a charity, if they do then they would need to prepare lots of money
since we know that gamblers are always on the losing side.

No insurance companies will provide a service like this since it's uncontrallbleand it's a personal will of the people, I doubt there will be a legal company who will implement such products that can make their company at loss. Maybe those who also own casinos will do that but with too many rules, classification, steps etc and with high premium since it's quite impossible to provide insurance for gambling.

If there will be such insurance companies that will offer it, I don't think that it will ever be in favor of the gamblers that would want to avail the insurance.

There will be more of the cons than the pros that they'll offer it.

It's favoring the company than the insurance buyers.

But that's just an if statement.

Isn't it always the case when it comes to insurance? Not just if it will be applied in gambling but on other insurance as well.

There is no way an insurance company will offer something if it won't return a good return to them. But for gambling, it's hard to implement that as every day, people are losing to gambling. It's a loss that happens regularly and consistently, different from the usual things that insurance mostly covered.

You are correct but that does not stop gamblers from imagining a service like this, in a way it is no different than when they imagine themselves gambling at the casino and winning all the time, that is not possible either as if that was the case then the casino will not be able to maintain itself in business, so the fact the casino is there means that it is built on the losses of its customers, so we must just ignore the voices that want something like this as it is never going to happen.