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Because contracts of insurance policies have numerous options in common with wagers, insurance policies contracts in many cases are distinguished in law as agreements through which either social gathering has an fascination from the "wager-upon" consequence over and above the precise economical phrases. e.g.: a "wager" with an insurer on whether one particular's household will burn up down is not really gambling, but relatively coverage – given that the homeowner has an clear curiosity within the continued existence of his/her residence impartial on the purely financial elements of the "wager" (i.
Bettors are likely to prefer to wager on favorites in athletic competitions, and sometimes will accept even bets on favorites when made available much more favorable bets around the less likely outcome (e.g., an underdog staff).[fifty seven]
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