Why Golfers Buy Hole In One Insurance
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Why Golfers Buy Hole In One Insurance
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Re: Why Golfers Buy Hole In One Insurance
#2Lemmings.
Re: Why Golfers Buy Hole In One Insurance
#3The article doesn't cover it - but the reason why people are expected to buy everyone drinks is because if you're lucky and skilled enough to get a hole in one, you will likely win the round and all the money wagered. If it is a local club or casual tournament, this can be a few hundred or thousand dollars. Even if it is just four people playing, there will usually be money wagered between themselves.
If it's a larger event, the purse for winning easily covers the hole-in-one celebrations. On top of this, if you are a member of a local country club - you're already paying hundreds if not thousands a month on membership dues. You're expected to have such wealth that to cover drinks/food isn't a big deal. Some clubs are structured such that you aren't directly paying for the celebrations, but your membership dues are such that it includes the cost of any potential celebrations.
Golfing is a game for the wealthy, including the traditions surrounding it.
Re: Why Golfers Buy Hole In One Insurance
#4The article doesn't cover it - but the reason why people are expected to buy everyone drinks is because if you're lucky and skilled enough to get a hole in one, you will likely win the round and all the money wagered. If it is a local club or casual tournament, this can be a few hundred or thousand dollars. Even if it is just four people playing, there will usually be money wagered between themselves. If it's a large…
I don't know about this. I'm pretty sure wagering in golf is against club rules. :)
Source: Caddyshack
Re: Why Golfers Buy Hole In One Insurance
#5Whattt? Golfers who get a hole in one are expected to buy everyone drinks? I caddied during the summer months in high-school and college. Whenever someone got a hole in one there would be a 2-4 hour open bar after that round came in, for all of the members and their guests who happen to show up at the bar during that time. This is not the tradition around the world?!
Re: Why Golfers Buy Hole In One Insurance
#6Whattt? Golfers who get a hole in one are expected to buy everyone drinks? I caddied during the summer months in high-school and college. Whenever someone got a hole in one there would be a 2-4 hour open bar after that round came in, for all of the members and their guests who happen to show up at the bar during that time. This is not the tradition around the world?!
sure, it's just that the open bar is funded by the "lucky" player
Re: Why Golfers Buy Hole In One Insurance
#7#firstworldproblems
Re: Why Golfers Buy Hole In One Insurance
#8I worked in reinsurance, and there was the (apocryphal) story one year of how the government of South Africa had promised a million dollars to every player if their team won the world cup. On the flip side, the government looked for a reinsurer to insure them for that risk. My company said no because so basically it distilled down to sports betting and we did not have any experience in that market.
Re: Why Golfers Buy Hole In One Insurance
#9The premise seems false. The insurance is against the cost, as is usual.
Re: Why Golfers Buy Hole In One Insurance
#10This looks more like a gimmick to cash in on overconfident people, who want to have some extra bragging rights on the course, than an insurance. Who gets insured for something that costs you $650 at max and is totally avoidable?