I know it is haram from a credible islamic scholar, but that doesn't mean I can give you a fatwa on it myself because I'm not a scholar. You can justify gambling however you like, but go ask a scholar and you will know first hand that it is not halal. You likely won't seek a scholar for such a fatwa, or if you do then you'll just dismiss it thinking you know better than everyone telling you that it is haram. You also seem to think insurance by halal so I don't know where you get your halal vs haram compass from. Generally muslims buy insurance because we are following the law of the land, which takes precedence in most cases. Mandatory gambling is not required by law. If you're actually looking for the reasoning behind this topic then I think this link explains it well enough. But you do you.