Bet Insurance

[Mate2237]

Going by the link that is on the thread you still have to meet up with a parameter that is set by the third party which is insuring the bet so I don't see the reason and importance because with what am seeing this is not difference from the ordinary casino that pay you base on the number of games that you predict accurately or even cash out options.


Gambling is not an investment that you should be talking about insurance there is no need for it

[Ziskinberg]

Going by the link that is on the thread you still have to meet up with a parameter that is set by the third party which is insuring the bet so I don't see the reason and importance because with what am seeing this is not difference from the ordinary casino that pay you base on the number of games that you predict accurately or even cash out options.

There’s a criteria that has to be met first before you can claim your insurance. Think of it like a supermarket promo where they offer you a drink and you get a selected food item for free. The rules are set by them, if you follow, you get the insurance.

It’s not something that’s easy to win, but if we’re convinced because we think the offer is good, that’s when we opt in without hesitation, forgetting that promos don’t usually favor us most of the time.

Gambling is not an investment that you should be talking about insurance there is no need for it

Well, I hope casinos would have something like this instead, so in case they get hacked, they’d still have backup funds to reimburse the accounts of affected users and, of course, get back online quickly.

[CryptoHeadlineNews]

Hello, I wanted to start a conversation about an alternative to the cash-out options which has generated a lot of discussion lately in the forum. I know there are many other alternatives but this one stood out for me because it's like my first time of hearing about it - bet insurance.

To put it briefly,
"Bet-insurance is a betting functionality that allows players to insure their bets and receive payouts if they lose."

I have not had any experience with it but I’m curious about what you all think. Have you used bet insurance before? How did it change your betting experience?

Also, would you pick bet insurance over the cash-out option? Why or why not?

I'm pretty sure that the winning potential for a game without insurance and that of an insurance bet won't definitely be the same due to certain factors. Because while a game without insurance may have a higher winning potential, since it is not remitting any percentage for an insurance policy, on the contrary,  an insured gambler may have a less profit margin, just like in the case when you select the "Pay Cut 1" Option when placing a multiple bet on Sport game, most especially football, whereby out of 5 games, if 4 plays just exactly as you predicted, you still stand the chance of been paid, without losing everything.

[HelliumZ]

The term bet insurance seems completely new to me and I haven't heard these two terms before.
However, to reduce the risk of betting, gambling authorities may introduce gambling insurance as a strategic method and to attract the attention of the public, but not all casinos or gambling establishments have introduced this bet insurance.
That is, if I insure 10% of my total stake on a bet, then if the bet loses, I will be refunded 10%. This is just a very clever way to get gamblers interested in gambling.

[Moreno233]

Gambling is not an investment that you should be talking about insurance there is no need for it

Technically, it does not make sense bringing insurance into gambling because insurance by itself eliminates risk in any business and in gambling where risk is the major attribute, I don't think it is feasible to implement the concept of insurance in it. If bets can be insured, I don't know who is going to bear the risk that is inevitable in gambling and makes gambling a game to be careful with?

[Cantsay]

I have not had any experience with it but I’m curious about what you all think. Have you used bet insurance before? How did it change your betting experience?

Also, would you pick bet insurance over the cash-out option? Why or why not?

I have used it and it is actually very useless to be honest. I can’t recall the exact name of the feature again but if you select the number of loses that you’d still get cashout from your money would reduce. So apparently if you set it for 3 loses in a 10 games parlay if you lose 3 games or less you’ll get the amount you agreed on and the payout is usually very small.

I have used it a couple of times but I no longer make use of it because of the great reduction of payouts  - I’d rather just use normal game and reduce my game picks so I don’t have to get tiny pay for a long list of parlay.

[tread93]

Different websites have their own version of this.
In Sportsbet.io, if you bet on over 5 games of 1.5 odds each, you can apply nult insurance which will give you your stake back if the game is lost by just a single selection. There is a variance of this on other websites.

What op is talking about is not exactly popular with typical gambling websites, it may be more popular on prediction markets and is confusing for the players to understand. You are better off regulating your stake amount to keep it below a reasonable limit so you won't have to insure an amount of it.

It is an interesting concept though, I mean I wonder if it even makes sense or if there could be money in "bet insurance" I mean how many people would realistically buy that? I suppose it does sound nice. I like the sportsbet idea as well

[Cryptmuster]

Hello, I wanted to start a conversation about an alternative to the cash-out options which has generated a lot of discussion lately in the forum. I know there are many other alternatives but this one stood out for me because it's like my first time of hearing about it - bet insurance.

To put it briefly,
"Bet-insurance is a betting functionality that allows players to insure their bets and receive payouts if they lose."

I have not had any experience with it but I’m curious about what you all think. Have you used bet insurance before? How did it change your betting experience?

Also, would you pick bet insurance over the cash-out option? Why or why not?

You are probably talking about the ability to partially take back your bet before the end of the match if you lose, or to withdraw partial winnings if your bet wins? I saw that this exists but I never used it, although when you lose you think that it would be worth using. You can take back your bet and your bet will play and you will lose part of the winnings, or maybe you will be lucky and you will take back your bet before losing, this also has difficulties, and I do not use it.

[iv4n]

To put it briefly,
"Bet-insurance is a betting functionality that allows players to insure their bets and receive payouts if they lose."

...

Also, would you pick bet insurance over the cash-out option? Why or why not?

Are you thinking about blackjack?

Insurance is a side bet that the dealer has a blackjack. The dealer asks for insurance bets before the first player plays. Insurance bets of up to half the player's current bet are placed on the "insurance bar" above the player's cards. If the dealer has a blackjack, insurance pays 2 to 1.

It is the only game (and there may be others) where you can insure a bet if the dealer's first card is an ace. I wouldn't be surprised if some big fiat casinos & sports books have this option, after all, some of them are on another level...

[Dr.Bitcoin_Strange]

Casino like Sportsbet and Duelbits has this kind of promotional insurance that let you still win if your team that you bet is winning on the specific quarter then lose the game.

The condition and requirements varies but they have an insurance that still pay your bet once satisfied the requirements.

But regular insurance of the sportsbook works just like what you mention that’s why I rarely avail it.

For the two casinos that you mentioned, have you tried the service and it works just like you explained, where players get paid after their team won at a particular time but still lose the game? But I still think that the condition they will give bettors is not really going to be that easy and simple but it will be something that they can benefit majorly from more than players.

[shasan]

Hello, I wanted to start a conversation about an alternative to the cash-out options which has generated a lot of discussion lately in the forum. I know there are many other alternatives but this one stood out for me because it's like my first time of hearing about it - bet insurance.

To put it briefly,
"Bet-insurance is a betting functionality that allows players to insure their bets and receive payouts if they lose."

I have not had any experience with it but I’m curious about what you all think. Have you used bet insurance before? How did it change your betting experience?

Also, would you pick bet insurance over the cash-out option? Why or why not?

Cash out option stands for the amount which can be settled on that time not after that time. But if there is any insurance though I do not know till now then that could be happen even if the gambler loss on the bet. If thats is the true case then a lot of people will be gambler though I do not think that will happen as I do not think there is any insurance available for gambling.

[YOSHIE]

Also, would you pick bet insurance over the cash-out option? Why or why not?

In essence, I have heard of betting insurance options often mentioned in sports betting such as cricket betting, soccer, tennis, unfortunately I don't ask how it works The betting insurance, but today I see again the topic of betting insurance I think it's just talkative, but it seems you are serious about it.

But if you talk about withdrawing funds (cash-out) if I don't misunderstand it it is the process of moving funds from digital currencies to fiat, such as parlay, ovo, Funds and the like, Cash-Outs are often used by gambling sites that use digital currencies, if I don't understand it wrong.

Maybe I should study the betting insurance option again how to work correctly, if it is indeed serious in sports betting.

[goldkingcoiner]

Hello, I wanted to start a conversation about an alternative to the cash-out options which has generated a lot of discussion lately in the forum. I know there are many other alternatives but this one stood out for me because it's like my first time of hearing about it - bet insurance.

To put it briefly,
"Bet-insurance is a betting functionality that allows players to insure their bets and receive payouts if they lose."

I have not had any experience with it but I’m curious about what you all think. Have you used bet insurance before? How did it change your betting experience?

Also, would you pick bet insurance over the cash-out option? Why or why not?

I have never tried such a thing as bet insurance. Whenever I want insurance, in other words a hedge against my own bet then I just make a bet in the other direction (aka for the opposing team). So if I lose, I get a small win from the other side but if I win, I only lose a smaller bet from the opposing team.

Not sure what betting insurance options even are, as I have never tried them but I imagine it is basically the same thing.

I cannot imagine the casino giving you better conditions than that.

[Onyeeze]

Just hearing about this for the first time and if there is such features, it will be a good addition to the betting business. I will check out more information on that to see if it is anything  feasible and helpful to incorporate into my betting for optimal returns, although I don't think the bookies will add anything that will completely remove the risk in gambling. That will be counter productive to their business because they are rewarded by the risk inherent in gambling.

Mate, let me tell you, their's nothing can reduce the risks in gambling, even though it's a robot it will not make you to win or reduce the risks of gambling, it's very clear and understandable that gambling is all risks and when betting we all know that what we are betting on will be under probability for we to win, or lose from it, because I know very well that gambling is something that will bring luck or not, and before we lose in gambling it takes more time, and that parameter or tools we can apply to reduce the chances of wining of gambling is very high.

[tsaroz]

Hello, I wanted to start a conversation about an alternative to the cash-out options which has generated a lot of discussion lately in the forum. I know there are many other alternatives but this one stood out for me because it's like my first time of hearing about it - bet insurance.

To put it briefly,
"Bet-insurance is a betting functionality that allows players to insure their bets and receive payouts if they lose."

I have not had any experience with it but I’m curious about what you all think. Have you used bet insurance before? How did it change your betting experience?

Also, would you pick bet insurance over the cash-out option? Why or why not?

I haven't used it but I think I know how it works. The principal with insurance is you insure for the fear that you may lose and on loss, the insurance covers all or some part of loss. The insurance should be done prior i.e. you can't insure after its started and the insurance cost rises if the thing you are doing is risky. Like the insurance cost of task that has been done thousands of time with rare failures would be low and the insurance would cover all of the loss but for one that's much risky would be high and the coverage won't be full either. So, in gambling, it just adds a bit more amount in return for peace of mind. Mathematically, it might even change the odds a bit but won't make a large difference as you would not be able to place it or withdraw from it while the result is near.