> This is _perfect_ for an insurer. Normally they're paid to assume
> risk. Here, if I understand your scenario, they're getting paid for
> both ends of the same risk, i.e. no risk at all.
This is the same deal a Casino sportsbook gets; I bet on the Giants,
you bet on the Dodgers, we pay off each other and the house gets 9%
(a $1.00 bet costs $1.10 to make). American sportsbooks have laws
against betting on certain things like elections, and probably would
be reluctant to insure you against legislation, but a British casino
would probably be delighted to take your bet.
-- Lee Daniel Crocker <lee@piclab.com> <http://www.piclab.com/lcrocker.html> "All inventions or works of authorship original to me, herein and past, are placed irrevocably in the public domain, and may be used or modified for any purpose, without permission, attribution, or notification."--LDC [To drop AltInst, tell: majordomo@cco.caltech.edu to: unsubscribe altinst]Received on Mon May 4 13:45:55 1998
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