Gambling, Engineering and Speculating

If we risk some money on the chance of one team's victory, the lawyers would qualify our action as a bet. Gambling, engineering and speculating are three different modes of dealing with the future. The gambler knows nothing about the event on which the outcome of his gambling depends. There is an element of gambling in human life. Man can remove some of the crematistic consequences of such disasters by taking out insurance policies. In doing so, he banks upon the opposite chances on the part of the insured. The insurance is gambling. Life itself is exposed to many risks. It is endangered by disastrous accidents which cannot be controlled or at least not sufficiently. Every man banks on good luck