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Chris Bell

Is There Insurance for Gambling Losses?

These days you can get insurance for almost everything. The most common types of insurance you’ll find includes home, car, travel, life, medical and dental, and even pets. However, many gamblers have often questioned whether there is any available insurance on gambling losses. Is there? Let’s find out!

How Does Insurance Work?

Insurance is a contract that provides protection to businesses or individuals for losses on their belongings or assets. Insurance can also be used to cover death, illnesses or diseases. Insurance companies charge customers a small sum each month and pool the money together to help an individual when needed such as when something is stolen or damaged, a person or pet prematurely dies or falls ill, a person suffers an accident while travelling and more.

However, there have been many cases of strange insurance too. For example, many celebrities or athletes insure parts of their body, like Gene Simmons who insured his tongue or Mariah Carey whose legs were insured by Gillette. American company Wedsure offers wedding insurance which covers wedding cancellations and liability, including damage to a wedding venue!

Is There Gambling Insurance?

Many gamers have wondered whether there is any type of insurance that covers gambling losses in case they don’t generate a payout from their casino activities. Generally, there isn’t insurance for gambling but some betting sites do offer a cashback promotion which allows players to claim back a small percentage of their losses as a bonus. However, this is usually only available at online sportsbooks and can be quite hard to find.

One of the reasons there is no insurance for gambling losses is because there’s a highly likelihood of loss since gambling always involves a game of chance. Gamers always face a high likelihood of loss when gambling and insurance companies will find it hard to continually cover this over a long period of time.

While many people may see gambling insurance as a way to control their gambling habit, it actually cannot do this. In theory, gambling insurance would only pay back losses made on games, having no impact on how often someone will gamble. In fact, having losses paid back may actually increase a gambler’s habit if insurance was available. This could lead someone to form an addiction which can quickly spiral out of control.

Gambling Addiction

Insurance that covers gamblers can also be problematic when it comes to people who suffer from an addiction. Similarly to the above, insurance companies will struggle to cover the cost of repeat losses, particularly if a player overspends and lands themselves in debt which can happen although is often a worst-case scenario.

However, Aviva last year launched its Mental Health Pathways Plus program, an option large companies can take up to cover the costs of employees who require treatment for internet addictions such as gambling and pornography. Although these policies do not cover the losses made while gambling, it does pay for the cost of treatment at a clinic.


Although there are insurance policies for many strange and unusual things, it can be difficult for insurance companies to cover losses made via gambling. We’ve highlighted the reasons above and hope it’s clear as to why this policy may never be introduced. Right now, it’s far too risky for insurance companies to cover but Aviva’s recent policy, which covers addicts, may just be a step in the right direction.