since contracts of insurance policy have quite a few features in common with wagers, insurance coverage contracts tend to be distinguished in law as agreements by which either party has an interest while in the "bet-on" end result beyond the specific economical terms. e.g.: a "bet" with an insurance company on whether one particular's residence will melt away down will not be gambling, but alternatively coverage – as the homeowner has an evident interest from the ongoing existence of his/her house impartial in the purely money aspects of the "bet" (i.
Ratio bias. Gamblers will like gambles with worse odds which can be drawn from a substantial sample (e.g., drawing one pink ball from an urn made up of 89 pink balls and eleven blue balls) to raised odds which have been drawn from a little sample (drawing just one pink ball from an urn made up of 9 crimson balls and a single blue ball).[sixty]
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