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

The concepts of poverty and wealth are relative. And there are many transitional stages between an extremely poor person and one who is rich. Even being rich can be different. There are probably countries where you can be relatively rich even with a capital of several tens of thousands of dollars. In many developed countries, a person with a capital of 1 million dollars, 10 million dollars, and 1 billion dollars will be called rich. There are billionaires whose capital amounts to hundreds of billions of dollars. And for all of them, the same amount, of course, will have a different value. However, losing, say, 5% of capital in 1 game will be extremely unpleasant for everyone.

Money is precious and if you have a small amount of it even 5$ can feel like 500$ or more. So if you see people that are betting huge they how money to spare or are risking hard. But sometimes the players with small bets are more afraid of lossing then the bigger players. So the amount dosent matter because 5$ can feel like 10k when its your last money

Poor people are most often not educated enough in finance to use their money for investing. In their mind, investing is too complicated and they think that the probability of losing all their savings in investing is higher than in gambling. In my opinion, many of them will choose to try their luck in a casino rather than buy some bitcoin for a long-term investment. Of course it is everyone's business, but I think that everyone should buy some bitcoin for the future, and play gambling just for fun.

Like we kept discussing on other boards that Bitcoin trading or investment is not a convenient sector for an individual who does not have a source of income to invest their funds on otherwise, when they are in need of money, their Bitcoin assets becomes the only hope for them and the will be push to sell without undermining if profited or lost.

This is equivalent in gambling, we have as much discussed about gambling not being a good approach to rely on for source of income but a place to bet and gaming for funs but prettily potential to be profited if lucky to win more than the values of your stakes or even losts.

We have heard several stories of how gamblers has been financially and mentally affected at the course of addiction and loosing more than being afford simply because they are primarily aiming to make profits.

So I am trying to pick some statics to understand between the poor and the rich who gambles more for profit.
There in, I am convinced that the poor takes the lead because if we are to gamble with with is affordable to loose, the poor may actually not find the least stake of their $5 affordable to loose but yet they risks it on gambling. What for? Of course it is aimed to profit in returns and when they looses it, they goes frustrated and timely empty handed looking other means of raising as little to come back and keep trying again if they could win. Their major concern is to win and profit and never find fun as they play.

As for the riches tending to gambling for profits, even if they looses $1K + such as we have Drake has been, he actually don't feel so disappointed of the lost why? Because he has more and could afford so even while gambling for profits, they are not much financially or emotionally affected as the poor who can not afford the least lost on gambling.

Agreeably, some rich addicted gamblers do go bankrupts too but it takes processes to be drained they could loss but feels some fun expressions because they have more and could afford the lost at the moments but the poor start to feel drained at their first lost meaning gambling for profit is not a game for the poor else or even the inability to pull out when they are financially being affected.
In all, gambling without sustainabilities of income as you stick to gamble is not just a good place for anyone who is after making profit.

So since we can not make personal decisions for our fellow gamblers who had lost their prides in chasing the profits on gambling, let keep advocating for carefulness even while compromising the concept of gambling as a game of fun and not to be enriched.

Five dollars is too much for a poor gambler to manage, so his loss of $5 would be equivalent to a loss of $1000 for the rich. In my country a poor gambler especially a rickshaw puller wants to bet five dollars in gambling then he has to drive a rickshaw for a whole day and then manage the money.  In this case, it is impossible to bet five dollars in gambling by maintaining his family. But a rich gambler does not have to do any extra to manage money, so even if he has to bet 1000 dollars in gambling, he does not have to suffer as much as a poor gambler.  So a comparison between rich gambler and poor gambler in terms of money management alone will show that the rich gambler's 1000 dollars and the poor gambler's 5 dollars are about the same.

Like we kept discussing on other boards that Bitcoin trading or investment is not a convenient sector for an individual who does not have a source of income to invest their funds on otherwise, when they are in need of money, their Bitcoin assets becomes the only hope for them and the will be push to sell without undermining if profited or lost.

This is equivalent in gambling, we have as much discussed about gambling not being a good approach to rely on for source of income but a place to bet and gaming for funs but prettily potential to be profited if lucky to win more than the values of your stakes or even losts.

Anybody that feels he isn't supposed to lose, or (maybe because he wasn't informed prior to his trial) is as good as someone that sells, makes expenses and profit but doesn't calculate anything to know if they're running on a loss or not.

Having known this - just as undeniable as the fact that we're all gonna die - you're always gonna lose...hence, whatever loses you incure shouldn't bother us (that is, if it bothers you). Always remember to wager only what you can afford to lose.
Everybody feels regret for any single dime spent unwisely; The difference is that it doesn't show in a rich person's emotions/countenance.

I think this is way relative.I have lost big lately,well not so lately some weeks ago in the last time I played at a casino and that led me to now only play 10-15 dollars a week.I don't mind when I lose 15 dollars a week as 15 dollars do not mean much to me and although I don't consider myself rich,for me that 15 dollars is pocket money for two days to drink a coffee with friends,so I don't really care about it.I play it all in most of the times or I do 3 bets with 5 dollars each,most of the time buying bonuses and trying my luck there three times knowing that in 99% of cases I will lose it all yet if I win something there I continue playing increasing the bet and by doing this I dream one day to hit a max win with a big bet,that is stupid thinking I know but that is the way it is.

If I were to not have money to buy food and groceries then this would hurt me to lose even 5 dollars,so all depends from the perspective of each gambler.

As for the riches tending to gambling for profits, even if they looses $1K + such as we have Drake has been, he actually don't feel so disappointed of the lost why? Because he has more and could afford so even while gambling for profits, they are not much financially or emotionally affected as the poor who can not afford the least lost on gambling.

So I am trying to pick some statics to understand between the poor and the rich who gambles more for profit.
There in, I am convinced that the poor takes the lead because if we are to gamble with with is affordable to loose, the poor may actually not find the least stake of their $5 affordable to loose but yet they risks it on gambling. What for? Of course it is aimed to profit in returns and when they looses it, they goes frustrated and timely empty handed looking other means of raising as little to come back and keep trying again if they could win. Their major concern is to win and profit and never find fun as they play.

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.

Poor or rich people, no one is safe; whatever amount is involved, you can become addicted starting at a small amount, or you can start at an enormous amount; there's on the same level when it comes to addiction; addiction is when you keep gambling with whatever amount, and you neglect your job, and your family in short gambling has become your priority regardless of the amount, regardless of your status.
When curing gambling addiction, I doubt if professionals will look at status. They will prefer to see the urge and the frequency regardless of the amount.

~snip~