insurance is the exact opposite of gambling, and vice versa
most people think the primary thing about gambling is that overall the casino takes a little of your money. this is true, but not primary.
insurance companies also take a little of your money. but that's ok. insurance is great anyway. most services charge you, so we can't judge gambling that simply.
what insurance does is take a little money from you most of the time (in most universes), but give you a bunch now and then (in a few universes) when (where) you need it most b/c disaster struck. this is great, because it allows you to have a higher minimum quality of life, which is worth the fee, and worth somewhat lowering your max quality of life.
gambling, on the other hand, takes money from you most of the time (in most universes), and gives a large pay out rarely (in a few universes). the basic effect is to make most of your life worse (most universes), but create a few spikes of huge wealth (in a few universes). this is the exact opposite effect that insurance had. this raises the maximum qualify of life you may experience, but at a cost to the minimum.
BTW this mostly applies to gambling that's either high-stakes that you only do a couple times, or to stuff with a very low chance of payout (lottery, maybe slots too, not sure). if you were placing lots of small bets at 49% odds, the effect of gambling would be very minimal, as your luck would almost always average out even within a single gambling session. (so all you'd really be doing is paying the fee to not do much of anything)