$5 lost by a poor gambler is worth to him than $1K lost by a rich gambler

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Quote from: milewilda on August 30, 2024, 02:35:01 PM

Quote from: Rabata on August 30, 2024, 02:20:22 PM

Quote from: Nwada001 on August 28, 2024, 05:27:49 PM

Quote from: HelliumZ on August 14, 2024, 06:31:24 AM

Be it small or large money, losing a gambling bet is definitely rewarding for a period of time, whether it is for a poor or a rich gambler. However, losing a gambling bet in the case of a rich gambler may not have a big impact on the gambling bet after a rich gambling, because he doesn't have to take too many risks to manage money to bet later. On the other hand, in the case of the poor gambler, if he loses once, he will definitely feel more risky in the next bets and will have to work hard to manage his gambling money.

Be it rich or poor, whoever ever loses money, even if they can afford to lose that amount, there will still be some level of sadness that that will leave on them, even if it can easily be overcome, but that still does not mean that it does not hurt to lose money no matter how little it is.

Yep, even losing a small bet hurts the gambler. I can tell from my own perspective that sometimes there are situations where my bet amount is very small but when I am losing there I am so concerned about it that I am losing a lot. Sometimes it seems that the main goal is to win the bet no matter the amount of money. The amount of the bet is not the main factor. A similar thought will work in almost everyone, a person who is rich or poor that doesn't matter. Everyone has to work hard to earn money so no one wants to lose that money easily.

Totally depends on a certain persons financial conditions on which it would really be better that on the moment that you would really be playing up gambling then it would really be that wise that you should really know
about your financial capacity and this would really be something which is really that important on this regard or matter. We do know that when it comes into this aspect then gambling could really lose up money
and this is something that you should realize in the first place. Never ever make yourself go beyond into your limits because on the time that you would really be finding yourself on such trouble then you are
really just that basically be having those kind of regrets later on. You would really be having those thoughts that you shouldnt have done that in the first place.

Losing in gambling is really just that a normal thing and the odds is more than on winning and this is indeed the reality. This is why on the time that you would really be that
doing gambling then self realizations would really be that much prefer or something that you would really be needing up at least to make yourself realize on how you would
really be that doing it well.

Yes, its true that rich person will really be having that advantage since they do have the money on which possible recovery of loses could happen if they would be planning to be more.
It is really that important that you do have that fund to expand out that kind of strategy if ever you will really be that playing further where poor people will be busting up all their capital then
there's nothing they can do when it comes on chasing up loses or tending to play more which is opposite to those who do have that bigger bankroll. The only advantage on this one is on the time that you do stop because you dont have more money to spend is that you are basically putting up yourself on stopping with that kind of addiction condition. We do know that the bigger money you had put on then the higher chance that you will be ending up on sleeping on the streets.

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Quote from: Rabata on August 30, 2024, 02:20:22 PM

Quote from: Nwada001 on August 28, 2024, 05:27:49 PM

Quote from: HelliumZ on August 14, 2024, 06:31:24 AM

Be it small or large money, losing a gambling bet is definitely rewarding for a period of time, whether it is for a poor or a rich gambler. However, losing a gambling bet in the case of a rich gambler may not have a big impact on the gambling bet after a rich gambling, because he doesn't have to take too many risks to manage money to bet later. On the other hand, in the case of the poor gambler, if he loses once, he will definitely feel more risky in the next bets and will have to work hard to manage his gambling money.

Be it rich or poor, whoever ever loses money, even if they can afford to lose that amount, there will still be some level of sadness that that will leave on them, even if it can easily be overcome, but that still does not mean that it does not hurt to lose money no matter how little it is.

Yep, even losing a small bet hurts the gambler. I can tell from my own perspective that sometimes there are situations where my bet amount is very small but when I am losing there I am so concerned about it that I am losing a lot. Sometimes it seems that the main goal is to win the bet no matter the amount of money. The amount of the bet is not the main factor. A similar thought will work in almost everyone, a person who is rich or poor that doesn't matter. Everyone has to work hard to earn money so no one wants to lose that money easily.

Totally depends on a certain persons financial conditions on which it would really be better that on the moment that you would really be playing up gambling then it would really be that wise that you should really know
about your financial capacity and this would really be something which is really that important on this regard or matter. We do know that when it comes into this aspect then gambling could really lose up money
and this is something that you should realize in the first place. Never ever make yourself go beyond into your limits because on the time that you would really be finding yourself on such trouble then you are
really just that basically be having those kind of regrets later on. You would really be having those thoughts that you shouldnt have done that in the first place.

Losing in gambling is really just that a normal thing and the odds is more than on winning and this is indeed the reality. This is why on the time that you would really be that
doing gambling then self realizations would really be that much prefer or something that you would really be needing up at least to make yourself realize on how you would
really be that doing it well.

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Quote from: Nwada001 on August 28, 2024, 05:27:49 PM

Quote from: HelliumZ on August 14, 2024, 06:31:24 AM

Be it small or large money, losing a gambling bet is definitely rewarding for a period of time, whether it is for a poor or a rich gambler. However, losing a gambling bet in the case of a rich gambler may not have a big impact on the gambling bet after a rich gambling, because he doesn't have to take too many risks to manage money to bet later. On the other hand, in the case of the poor gambler, if he loses once, he will definitely feel more risky in the next bets and will have to work hard to manage his gambling money.

Be it rich or poor, whoever ever loses money, even if they can afford to lose that amount, there will still be some level of sadness that that will leave on them, even if it can easily be overcome, but that still does not mean that it does not hurt to lose money no matter how little it is.

Yep, even losing a small bet hurts the gambler. I can tell from my own perspective that sometimes there are situations where my bet amount is very small but when I am losing there I am so concerned about it that I am losing a lot. Sometimes it seems that the main goal is to win the bet no matter the amount of money. The amount of the bet is not the main factor. A similar thought will work in almost everyone, a person who is rich or poor that doesn't matter. Everyone has to work hard to earn money so no one wants to lose that money easily.

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Quote from: 2Pizza410000BTC on August 28, 2024, 06:58:41 PM

Just what? I think even a poor man can gamble for entertainment. Not only rich people gamble for entertainment, many poor people also gamble for entertainment.

Everyone needs entertainment, not limited by social status because gambling can be accessed by anyone and used for any purpose.
If gambling becomes a means of entertainment to relieve stress, it will be a good place.

Quote from: 2Pizza410000BTC on August 28, 2024, 06:58:41 PM

If we consider from our side, I would say we are not rich, we are on the ladder of poor. In that case we gamble for entertainment, we do not gamble outside of entertainment and our greed to make money is not in good taste. But I think a rich person participates in gambling to earn money.

Poor people who gamble to gain profits only use a small amount of their money and hope to make bigger profits.
And the rich who gamble will also do the same but with more money.

But it is not differentiated from the rich or the poor, but in the category of players.

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Quote from: Nrcewker on July 30, 2024, 03:03:47 AM

Money is precious; it doesn’t matter how much you lose. If it’s your hard-earned money, then definitely you will feel bad. Gambling is all about luck; hence, we need to make ourselves aware that if we gamble, then there is a high possibility of getting into losses. Hence, we need to take the risk accordingly and bet with the amount that we can afford to lose. Now regarding poor and rich, if the gambler is rich, then I don’t think he does gambling in a serious tone. According to me, a poor person gambles when there is a necessity of money, and on the other hand, a rich person gambles for the purpose of recreation.

Just what? I think even a poor man can gamble for entertainment. Not only rich people gamble for entertainment, many poor people also gamble for entertainment. But the difference between rich and poor may be that a poor person can win with a small amount of money and on the other hand a rich person can participate in gambling with a large amount of money. If we consider from our side, I would say we are not rich, we are on the ladder of poor. In that case we gamble for entertainment, we do not gamble outside of entertainment and our greed to make money is not in good taste. But I think a rich person participates in gambling to earn money.

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Quote from: JiiBs on August 20, 2024, 01:14:24 PM

If we have to put those into context, it’s largely based on, what you’ve got left after the loss. That’s where you determine the worth of the loss from. It doesn’t really matter if it were your spare cash or not but, when you haven’t got much left, even the rich guy would seem poor about a $1k loss.

Income levels are never the same so everyone should always watch the amount invested into gambling. I think the OP was simply pointing to this aspect of our societal reality in terms of wealth distribution. There will always be rich and poor so in gambling, we must look inward and not allow another person influence our decision in gambling. I remember when threads were created here about Drake losing almost half a million dollar in gambling. What I just felt was that the amount is really insignificant to him since he is already rich and path with such amount without blinking an eye. Such amount may even be like $10 to him because his capacity can carry it.

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Quote from: OgNasty on August 28, 2024, 05:05:24 PM

Think of it this way. If a guy dating 20 girls at once gets dumped by 15 of them, what does he care? If a man who has loved only one woman his whole life gets dumped, he could feel as though his entire purpose in life is gone.

Clearly, if you have more than you need of something, losing it doesn't matter. If you need something desperately, losing what little you have can be debilitating.

Isn't it possible that the man whose 15 girlfriends dumped will end up like the second man? He's not doing the right thing for losing 15 of his girlfriends to a breakup. What more are five girls that he won't lose them? Reckless rich gamblers are only a few yards away from feeling like the Poor player who lost $5.

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Quote from: HelliumZ on August 14, 2024, 06:31:24 AM

Be it small or large money, losing a gambling bet is definitely rewarding for a period of time, whether it is for a poor or a rich gambler. However, losing a gambling bet in the case of a rich gambler may not have a big impact on the gambling bet after a rich gambling, because he doesn't have to take too many risks to manage money to bet later. On the other hand, in the case of the poor gambler, if he loses once, he will definitely feel more risky in the next bets and will have to work hard to manage his gambling money.

What do you mean by "losing a gambling bet is rewarding for some period of time"? I have not seen where losing money to whatever, be it gambling or losing it on a failed investment, has been rewarding to the person who lost it; rather, it can only be rewarding to the casino or whoever is on the positive side.

Be it rich or poor, whoever ever loses money, even if they can afford to lose that amount, there will still be some level of sadness that that will leave on them, even if it can easily be overcome, but that still does not mean that it does not hurt to lose money no matter how little it is.

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Perhaps, it would be wiser to address this conversation not just talking about the rich and the poor, but using some actual metrical data for us to understand how much an average person in an specific scenario could afford to lose to bad luck in a casino.
I personally like to see at the international or worldwide poverty line.

Source: https://en.m.wikipedia.org/wiki/File:Percent_poverty_world_map.png

If we take in consideration the percentage of people who lives under the line of poverty by country and the population number of each one of those countries, it would be possible to quantify who can actually be classified as "poor" and who does not. In the end of the day, casinos are not visited only by the rich and the poor, and important percentage of the volume comes from the average person, with an average wage and just looking for amusement/thrill.

From the map I could say it would be more likely for someone from south Africa to gamble more than they can afford to lose than someone from China/USA, where there are fewer people living in "poverty"

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This shouldn't be a controversial statement. If someone has a ton of money, what do they care if they lose some. If someone can't afford to eat, losing $5 can be detrimental to their life.

Think of it this way. If a guy dating 20 girls at once gets dumped by 15 of them, what does he care? If a man who has loved only one woman his whole life gets dumped, he could feel as though his entire purpose in life is gone.

Clearly, if you have more than you need of something, losing it doesn't matter. If you need something desperately, losing what little you have can be debilitating.

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Rich people have enough money to be able to enjoy playing gambling, losing some money in gambling is not a serious problem for them, because they can get more money through their efforts or work, the point is that they always have a way to get money back. And this is very different from the poor, they come to the casino to find their wealth with the amount of money they have, they spend the money they have to play gambling in the hope that who knows through gambling can change their financial situations. But when the desires that he craved did not come, there was a sense of regret, and guilt, they all over his careless man because it had risked all the money he had, while there were more important things that had to be completed and there were needs that had to be met than just playing gambling. They are confused about where to make money again so that what has become their needs can be met, and at this point a person will assume that the loss of money becomes very valuable.

"Everything will be valuable when it's gone." Isn't that right?

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Everyone has their own limits. Where might be the biggest number of bets issued by the poor to gamble, is the smallest number of bets ever issued by the rich.

And losing some money in gambling even though small can be very valuable, it is because poor people often behave recklessly by sinking all the money they have, which is not much, but that's all they have. While behind it all there is a need that he must fulfill. For example, the money should be to buy breakfast, but because there is a desire to play gambling and there is a belief that through gambling can double the money they have, the poor choose to risk the money to play gambling. In the end because it led to a defeat, there was no money and breakfast was not there, stomach rumbling. And that's where there was a sense of regret that made the missing money very valuable.

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Quote from: nullama on August 21, 2024, 07:50:43 AM

Quote from: JiiBs on August 20, 2024, 01:14:24 PM

If we have to put those into context, it’s largely based on, what you’ve got left after the loss. That’s where you determine the worth of the loss from. It doesn’t really matter if it were your spare cash or not but, when you haven’t got much left, even the rich guy would seem poor about a $1k loss.

The thing is that it doesn't matter what the absolute number is.

The thing that matters is the relative amount of money that means to the gambler.

A rich person can be wiped out in a single bet, whereas a cautious poor person can continue betting.

Amount would really be basing up into the financial status or condition you do have as an individual and just been said or mentioned about rich and poor then numbers would really be that totally different
on which means that the main difference would really be reflecting out into their status. This is why we cant be able to drawn up conclusions with this on which we know into this aspect that
big amount of money will really be basing up into your condition. This is why it would really be that important that on the time that you would really be making some dealing up with gambling
then it would really be just that only on the amount that you an afford to lose, you wont really be finding yourself on having some issues if you are really just that sensible and responsible
into your gambling dealing.

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Quote from: JiiBs on August 20, 2024, 01:14:24 PM

If we have to put those into context, it’s largely based on, what you’ve got left after the loss. That’s where you determine the worth of the loss from. It doesn’t really matter if it were your spare cash or not but, when you haven’t got much left, even the rich guy would seem poor about a $1k loss.

The thing is that it doesn't matter what the absolute number is.

The thing that matters is the relative amount of money that means to the gambler.

A rich person can be wiped out in a single bet, whereas a cautious poor person can continue betting.

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Quote from: JiiBs on August 20, 2024, 01:14:24 PM

If we have to put those into context, it’s largely based on, what you’ve got left after the loss. That’s where you determine the worth of the loss from. It doesn’t really matter if it were your spare cash or not but, when you haven’t got much left, even the rich guy would seem poor about a $1k loss.

The dollar Alice is based on the holding person,for the people who had 1000$ in their wallet.The dollar value of 5-10$ is not big one.If they lose that money,this will not affect him in the financial problems.But for the poor gamblers who had 50$-100$ in the bank balance for them 5-10$ would be the big money.So the loss value would differ from person to person,the recovery from the loss also very important one.Because the gamblers should take risk based on the value of money holdings,if they take beyond the limit.This will affect them in financially and mentally weak.

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If we have to put those into context, it’s largely based on, what you’ve got left after the loss. That’s where you determine the worth of the loss from. It doesn’t really matter if it were your spare cash or not but, when you haven’t got much left, even the rich guy would seem poor about a $1k loss.

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Quote from: vs2014 on August 20, 2024, 12:21:01 PM

The victory and defeat are in everything so it should not discriminate between rich and poor. The only difference is reason enough for one to take the risk. As poor people do not have the money or attitude to take risks. Similarly, a rich person in gambling will want to gamble any amount of money. On the other hand poor people have the feeling of getting back lost funds whereas rich people do not. A poor gambler will not want to use all his funds but a rich gambler will want to bet with any funds.

A poor gambler in the other hand would use $5 to chess $500 while a rich gambler would use 10,000 to chess $15,000. Looking at the two scenarios you will understand that the rich man is likely to win and have a 50% game while the poor man chasing over 1,000% chance will not make profit.

Then, the $5 of the poor man could be 20% of his earnings while the $10,000 of the rich man might be 1% of his earnings. So, the difference is just much and might be incomparable.

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The victory and defeat are in everything so it should not discriminate between rich and poor. The only difference is reason enough for one to take the risk. As poor people do not have the money or attitude to take risks. Similarly, a rich person in gambling will want to gamble any amount of money. On the other hand poor people have the feeling of getting back lost funds whereas rich people do not. A poor gambler will not want to use all his funds but a rich gambler will want to bet with any funds.

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Be it small or large money, losing a gambling bet is definitely rewarding for a period of time, whether it is for a poor or a rich gambler. However, losing a gambling bet in the case of a rich gambler may not have a big impact on the gambling bet after a rich gambling, because he doesn't have to take too many risks to manage money to bet later. On the other hand, in the case of the poor gambler, if he loses once, he will definitely feel more risky in the next bets and will have to work hard to manage his gambling money.

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Quote from: hedgeh0g on August 08, 2024, 04:30:04 AM

In fact, about $5 and $1k this is said conditionally. The poor also have their own small range and for some $5 is a normal bet, while $1k for the rich can also be a significant amount that is scary to lose. The thing is that a poor player needs to cover his basic needs such as paying for food and utilities, and after that there is very little left for the game, so perhaps every dollar is important for the game.

For rich players, everything is much different, because his basic needs will be easily covered if he does not constantly buy new bags for his wife) Also, the rich can also have different states of their business, from excellent cash flows to those values when the business is on the verge of collapse and bankruptcy. If the cash flows of a rich person stop, he will no longer make big bets, because he has a huge uncertainty.

The main difference is how much extra you are gambling.

If the poor actually has $10 extra and bets $5, he will be in a better position compared to the rich person that has only $500 extra but gambles $1000 at a time.

It's just simple maths...

Topic: $5 lost by a poor gambler is worth to him than $1K lost by a rich gambler (Read 1539 times)