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I think it's kind of silly - if you can't afford to loose the $, you shouldn't be playing in the first place. The prices also seem really high considering what they are covering.
right, they are not trying to predict who will be injured like a sportsbook doesnt care who wins. Just get a few people to take the bait.
This is just another way to take your money. dont do it!
Insurance companies are businesses. All forms of insurance are profitable, or they wouldn't be offered (or the prices would be raised until they were profitable again). In other words, over the long run, buying insurance is always a losing proposition from a strictly dollars-and-cents point of view. With that said, some expenses are so large that it makes sense to get insurance to protect against them. Things like your house, your health, and your car. My philosophy has always been to only insure the things I couldn't afford to replace out-of-pocket should something happen to them. A $20,000 car? Sure. A $200 XBox? No. If you're playing in fantasy leagues where the buy-in is so high that you can't afford not to win, then I'd say the problem isn't that you don't have fantasy insurance (holy double double-negative, Batman!).In my mind, buying fantasy insurance is a lot like going to a roulette wheel and putting money on both red and black. Sure, it'll heavily mitigate your losses... but the fact remains that over the long run it's a guaranteed losing strategy (whereas every other bet is just a likely losing strategy)It seems not much different than any other type of insurance.
A. Some insurance products are statistically money losers. They make up the difference by investing the premia.B. You don't just protect yourself against catastrophe, you also lower variance which is a valuable thing to risk averse individuals (most of us). Yes, you are typically 'losing money' by buying insurance. But you are taking a small guaranteed loss to avoid a potential large loss. That loss doesnt have to be catastrophic to make it worthwhile to insure against it. Take your $200 XBOX. You dont insure it because it would be a pain in the neck to do so, you'd have to file paperwork, etc. But what if your roommate, who you know is good for it, says to you "Hey, give me 50 cents and if your XBOX breaks I'll buy you a new one" -- you wouldn't do that? I definitely would.Insurance companies are businesses. All forms of insurance are profitable, or they wouldn't be offered (or the prices would be raised until they were profitable again). In other words, over the long run, buying insurance is always a losing proposition from a strictly dollars-and-cents point of view. With that said, some expenses are so large that it makes sense to get insurance to protect against them. Things like your house, your health, and your car. My philosophy has always been to only insure the things I couldn't afford to replace out-of-pocket should something happen to them. A $20,000 car? Sure. A $200 XBox? No. If you're playing in fantasy leagues where the buy-in is so high that you can't afford not to win, then I'd say the problem isn't that you don't have fantasy insurance (holy double double-negative, Batman!).In my mind, buying fantasy insurance is a lot like going to a roulette wheel and putting money on both red and black. Sure, it'll heavily mitigate your losses... but the fact remains that over the long run it's a guaranteed losing strategy (whereas every other bet is just a likely losing strategy)It seems not much different than any other type of insurance.
Why? Even buying those cost you money. YOU could have invested the premium.
