Has anyone taken out a loan on the probability of winning a prize

# Has anyone taken out a loan on the probability of winning a prize? # Has anyone taken out a loan on the probability of winning a prize [[A system that replaces grants with prizes and and loans with prize winnings as collateral]] Apparently Richard Branson took out insurance on the chance of someone winning the X Prize, which is the other side of the market. See [[Insurance backed prizes]]  [Web URL for this note](http://notes.benjaminreinhardt.com/Has+anyone+taken+out+a+loan+on+the+probability+of+winning+a+prize) [Comment on this note](http://via.hypothes.is/http://notes.benjaminreinhardt.com/Has+anyone+taken+out+a+loan+on+the+probability+of+winning+a+prize)