Is there any insurance service for gamblers to retain heavy losses....???

[CarnagexD]

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.

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.

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.

[Oilacris]

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.

I also doubt that insurance companies would offer such insurance for gamblers. However, I think that might be lucrative business for them.
But in many countries gambling is on a black list of socialy undesirable activities and existence of such insurance might further encourage gambling so I don't think it's realistic to expect that something like this appears in the market.

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.

[Lorence.xD]

~

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.

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.

[MCobian]

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.

I also doubt that insurance companies would offer such insurance for gamblers. However, I think that might be lucrative business for them.
But in many countries gambling is on a black list of socialy undesirable activities and existence of such insurance might further encourage gambling so I don't think it's realistic to expect that something like this appears in the market.

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.

[freedomgo]

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.

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.

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.

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

[bitterguy28]

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.

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.

[bakasabo]

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.

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.

[Mauser]

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.

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.

[iTradeChips]

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.

[covfefe_]

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.

[ecnalubma]

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.

[chaser15]

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.

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.

[OgNasty]

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.

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.

[ice098]

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.

Exactly, that is the basic philosphy they need to follow because who can give insurance to people who are gambling, it is not possible on the earth to provide insurance for the gamblers, it is their wish whether to gamble or not if a person doesn't have controls how can sustain his family needs.

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.


 

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.

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.

[South Park]

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.

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.

[Mahanton]

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.

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.

[MCobian]

~snip~

~snip~

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.

[STT]

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.

[Timelord2067]

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.

[robelneo]

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 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.