On Insurance:
An article showing the similarity between insurance and gamble:
"Almost a decade ago, I tried to place a bet with a leading UK betting shop that I would die within a year. They should have taken the bet - I am still alive.
But they will not gamble on life and death. A life insurance company, by contrast, does little else.
Legally and culturally, there is a clear distinction between gambling and insurance. Economically the difference is less visible.
Both gambler and insurer agree that money will change hands depending on what transpires in some unknowable future."
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Even though rest of the article talks in a positive tone, I would like to add that, the problem with insurance is that statistically speaking you will always be the loser with any insurance purchase, regardless of the outcome.
Like how anyone is statistically still a loser in casino regardless of whether he wins or loses.
And house's margin in both the cases, insurance and gamble, are same: 50%!
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Don't understand statistics? or probably theory? Well, save your money and don't engage in these regardless.
And I haven't yet touched the religious aspects.
http://www.bbc.com/news/business-38905963
- Comments:
- My first on Windows was "Command & Conquer"
- But mario still probably wasn't a native windows game.