The difference between insurance and gambling

Insurance is aimed at an unfortunate person who has suffered a loss.  It assist a person to restore his financial position.  The insured does not gain anything. In gambling the money gained is out of a win which improves the winners financial position.  The winner gains every sent he wins.
In insurance the event covered may never happen. In gambling the event speculated must happen to decide the winner.
One must have insurable interest in the property insured.

There is no such condition to gamblers


Insurance is a great help to businessmen and individuals. Gambling is a great curse to the society.
Insurance is legal Gambling is illegal
No gains and losses instead one gets protection When a person lays a bet he either losses or gains
There is documentation and a signed contract. There is no such condition as to bind the parties involved in gambling.

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