Question
a.
In gambling, one can win or lose, whereas in insurance, there is only one consequence – loss to the insured.
b.
In gambling, the outcome is unpredictable, whereas in insurance, the outcome is always predictable.
c.
In gambling, there is no financial interest involved, whereas in insurance, a financial interest is crucial.
d.
In gambling, both parties benefit, whereas in insurance, only the insured benefits.
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Q. What is the primary difference between gambling and insurance?
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