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Topic: $5 lost by a poor gambler is worth to him than $1K lost by a rich gambler - page 7. (Read 1521 times)

hero member
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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.


In general, I agree with you. Losses for a rich person and a poor person manifest themselves differently. A poor person can lose money that he was going to eat with and now he is hungry, and a rich person can lose a lot of money and not notice it. In my home country, 10 or 15 years ago, a law was introduced banning gambling for people throughout the country. The only exception is areas designated specifically for Casinos and other entertainment. These can be special hotels or large areas with many entertainments. Only there can you officially play gambling. A poor person simply does not have enough money to get there.
hero member
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I can remember countless times people have talked about gambling what they can afford lose and also gambling is not the only way to get quick wealth but of course it's probably when you hit a life changing bet or jackpot it would be much easier to get rich but then, people turns it the other way round where they don't long gamble for fun instead gamble for profits.
Yes including me most times I don't look at fun moment rather on the profits aspect because no one would be happy if they are catching fun at same time keep losing, because fun is interesting while gaining on the process instead of losing it makes very annoying when running on the minus instead of plus.

Casino creators managed to find that very line when fun turns into a desire to make a profit. It's like in eSports, when someone plays their favorite game for fun and achieves results in it. Such a player then starts thinking: I know this game very well, so why shouldn't I earn money from it and tries to get into eSports. He spends a lot of effort and hours, and stops having fun, but wants money. And usually it ends in vain. And gambling is exactly the same.
legendary
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So anyway, I applied as a merit source :)
The key point here is "Moderation", which I have emphasized in many threads.

Without moderation, alcoholism, gambling and any addictive thing becomes a bad thing. A poor person's 5$ will get saved if they are determined to save it. It is all in the head and they can control it but will not. That 5% lost 10 times becomes 50$, which means that the person actually loses that 50$ over a course of 10days and they is not a small amount - which could be saved.

Big names can afford to waste their money, but poor people need to save.
hero member
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I can remember countless times people have talked about gambling what they can afford lose and also gambling is not the only way to get quick wealth but of course it's probably when you hit a life changing bet or jackpot it would be much easier to get rich but then, people turns it the other way round where they don't long gamble for fun instead gamble for profits.
Yes including me most times I don't look at fun moment rather on the profits aspect because no one would be happy if they are catching fun at same time keep losing, because fun is interesting while gaining on the process instead of losing it makes very annoying when running on the minus instead of plus.
hero member
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I have seen a poor gambler lose $100, and it doesn't hurt him, and I have seen a rich gambler hate himself for losing $100.
This matter has been discussed numerous times already. The perception of money is different for each individual, while gambling beyond your capabilities and budget is similar to playing with fire. I've also seen in person what @coin-investor mentioned. Some people, wealthy or not, don't care about money, and trust me, I've seen it more often in people who're struggling than the ones that are wealthy. It's a different mentality, while a large number of people have extremely poor financial skills. I have a friend who's always spending every single bit of money he has left; he also gambles and occasionally loses a bunch of money but isn't bothered by it.
In short, no one is safe in gambling, even the rich ones, as it's also possible they'll go bankrupt if they don't control themselves. No gambler has unlimited money, so we should all gamble responsibly. Rich people gamble big as that gives them the thrill, and it's the same with poor people, who are also gambling not just to feel the thrill but with the high hopes of winning.
sr. member
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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.
The rich will spend what they think is best for them to spend in gambling; the poor will also spend what they think they can afford, but whatever the amount appears to be, it does not just go unnoticed in their mode when lost to the game. A wealthy person values his $1m just as the poor value his $1; it's as simple as that.

Your statement is very correct because that's how it is, however is only most people that sees it that way because no matter the amount a poor gambler will lose the way it will affect them that's also how it may likely affect the rich gamblers because the amount they would use while gambling will be totally different from each other's because if $5 is a big money for a poor gambler the same thing would also be applicable to rich gambler who gamble with $1k, so I wonder why most people always feel that the rich gamblers are always immune to any emotional feeling if they lose there money while gambling, actually I realized that most of them may not be totally different from the poor in terms of there emotional feeling after losing a bet because the rich and the poor normally gamble with what is suitable for them and there staking amounts are also different.
hero member
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I have seen a poor gambler lose $100, and it doesn't hurt him, and I have seen a rich gambler hate himself for losing $100.
This matter has been discussed numerous times already. The perception of money is different for each individual, while gambling beyond your capabilities and budget is similar to playing with fire. I've also seen in person what @coin-investor mentioned. Some people, wealthy or not, don't care about money, and trust me, I've seen it more often in people who're struggling than the ones that are wealthy. It's a different mentality, while a large number of people have extremely poor financial skills. I have a friend who's always spending every single bit of money he has left; he also gambles and occasionally loses a bunch of money but isn't bothered by it.
hero member
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Whatever the amount we are talking about and whatever your status in life, if you gamble with money that you cannot afford to lose, it will hurt you.
I have seen a poor gambler lose $100, and it doesn't hurt him, and I have seen a rich gambler hate himself for losing $100.

They have their reasons for hate, but it's not a general rule that because the poor gambler loses $5, they are worse or better than the rich gambler.

It's really on the character of the gambler. It is not that they lack money or they have a lot of it; it's the pride and motivation that comes along with gambling.
sr. member
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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.

My money is my money and I do not care what the other person loses because he is not going to give me any if he wins. My $5 is worth more to me than any amount anybody is losing, the $1000 that the rich is losing could be the start of a bad experience for him. You are thinking the rich would not mind about the money but we do not know how his finances are, if he is in debts and trying to recover through gambling or if everything is fine with him. We are supposed to use only money we are capable of losing for gambling therefore if we are not comfortable losing $5 because we are poor than we should use a lesser amount like $1 or lower because we can use less amounts to stake and still enjoy our bets. Gambling should not be about the money we are using but how we enjoy the games.
hero member
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Gambling with what's affordable to loose had been an essential administration as gamble is concerned.
We need not to be too risky to gamble with values that would trouble us at when lost.

But in accordance, the poor are more of bridging that context by gambling with their hard earned. Being realistic, they are more eager to profit than the rich gamblers and the values of losts by the poor is more terrifying to them than when the rich losses.
It literally not about the amount lost but what you are able to afford at when lost.
If poor gambler can choose that it is better not to playing gambling, they will see that they have their money in their pocket and can be used for buying their daily life. They don't lose their money with waste because they can use the money for survive and they can search for other ways to make money. They can thinks realistic and will eager to work hard and smart than to playing gambling to chase the profit because they know that gambling will not always gives that chance.

Losing $5 for a poor gambler is worth to him so if he can be wise with his money, he will thinks to use the money for other things. He will not waste his money to playing gambling although he know that he have a chance to win but not the big chance to win. So he will not trying to follow what other things do because he know what is the important thing in his life.
legendary
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Will the topic be a continuation of spam from this thread?
Rich or poor gambler, who should risk more?

You can simply answer briefly: if five dollars are valuable for a poor person, he simply should not play. In the same way, a rich person will not bet five bucks; he will bet the amount that may not be his last, but desires and ambitions are slightly different here.

For a poor person, even a win of a hundred bucks is already a reward, but for a rich person, larger amounts of money are needed.

Therefore, participation in gambling should always be assessed by one's capabilities, and if there are big ambitions,  one must prepare oneself for big losses.
sr. member
Activity: 434
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You are right, gambling is never for poor people. Gambling depends on luck, if luck is good then win if luck is bad then lose. Actually gambling is for entertainment, but it would be wrong for poor people to entertain by losing money. A poor day laborer in our country earns about $5 a day, now he cannot afford his family if he wants to gamble. Gambling is harmful to both rich and poor. Gambling only costs money, few people can profit, so everyone should take a break from gambling. However, rich people will not have financial problems if they lose money gambling, because their income is high.
Losing money is painful for everyone, if it is your hard earned money. As long as I have been familiar with gambling, I have seen that poor people are more addicted to gambling. So the question still arises in the mind is gambling really only for the rich, not for the poor? maybe not.

Since gambling depends on luck, both rich and poor people may find themselves addicted to gambling. Gambling has the potential to earn them money. If poor people lose gambling then it will be a cause of danger for them whereas if rich people lose gambling it may not be much of a danger to them because they have a lot of money. So maybe poor people are told to refrain from gambling. There are also many poor people who choose gambling to make themselves financially well off because they think that they will be able to earn a lot of money together with winnings from gambling. Basically this greed makes them most addicted to gambling.
sr. member
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My opinion is that gambling is not for the poor. First and foremost, gambling is wasting money. It's not earning money. Therefore, money used for gambling should be coming from what's extra or surplus. For the poor, however, ever centavo counts. The poor cannot afford to waste money. What little money he/she has should go to his/her needs or the needs of his/her family. It's about priorities.

Second, gambling is for fun. This can't be applicable, however, to a poor gambler. To a poor gambler, it isn't about the fun. It is about trying one's luck to make more money. That leads him/her to realize my first point, that gambling is not making money but losing money. Every dollar that a poor gambler wagers is a sacrifice of his/her or his/her family's needs.

In my country, illegal gambling is preying on the poor. It is rampant among poor communities perhaps because of their desperation to have a better life. As a result, however, they're getting poorer and poorer.
You are right, gambling is never for poor people. Gambling depends on luck, if luck is good then win if luck is bad then lose. Actually gambling is for entertainment, but it would be wrong for poor people to entertain by losing money. A poor day laborer in our country earns about $5 a day, now he cannot afford his family if he wants to gamble. Gambling is harmful to both rich and poor. Gambling only costs money, few people can profit, so everyone should take a break from gambling. However, rich people will not have financial problems if they lose money gambling, because their income is high.
sr. member
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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.
Gambling with what's affordable to loose had been an essential administration as gamble is concerned.
We need not to be too risky to gamble with values that would trouble us at when lost.

But in accordance, the poor are more of bridging that context by gambling with their hard earned. Being realistic, they are more eager to profit than the rich gamblers and the values of losts by the poor is more terrifying to them than when the rich losses.
It literally not about the amount lost but what you are able to afford at when lost.
legendary
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TLDR

Don't use the phrase "the rich and the poor" for comparison, as it's easy to conclude that the poor are always wrong. I mean, if you are poor, why would you gamble in the first place? Regardless of the amount, it's still going to hurt you because you are "poor." I think the proper phrase to use is "gamble what we can afford to lose." Regardless of our financial status, as long as we can afford to lose what we are gambling, we should have the same feeling whether we are rich or poor.
You are right, that's just the case if you know you can't bear losing any amount of money you are gambling with then the person is just starting because it is a 50/50 kind of chance in as much as little as the money is, it will definitely matter to the gambler because of one's financial strength; therefore it isn’t a matter of whether one is poor or rich.

When someone is poor and is gambling, This is where you get this set of gamblers that attached this kind of emotions to the money they are betting with, especially when you don't have any source of income and you are risking the little one you have, it would be like they've lost millions when one lost any amount of money on the process.

Regardless or your status, poor or rich, one should always risk according to their financial strength.

I can attest to the feeling because I have been poor and experienced gambling, and it's not fun. When you are poor and gambling, you know that the money you risk is very important, so you'll be emotionally invested in it. When you lose, you think about recovering it because you can't afford the loss. In short, when gambling is supposed to be fun, it doesn't provide a fun experience when you are gambling money you can't afford to lose.

Therefore, poor people have no right to gamble because what they are doing is just destroying their lives. If they do that, people will think gambling destroys lives, when in fact it is the poor people who aren't responsible and blame their actions on gambling, which is unfair.
legendary
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My opinion is that gambling is not for the poor. First and foremost, gambling is wasting money. It's not earning money. Therefore, money used for gambling should be coming from what's extra or surplus. For the poor, however, ever centavo counts. The poor cannot afford to waste money. What little money he/she has should go to his/her needs or the needs of his/her family. It's about priorities.

Second, gambling is for fun. This can't be applicable, however, to a poor gambler. To a poor gambler, it isn't about the fun. It is about trying one's luck to make more money. That leads him/her to realize my first point, that gambling is not making money but losing money. Every dollar that a poor gambler wagers is a sacrifice of his/her or his/her family's needs.

In my country, illegal gambling is preying on the poor. It is rampant among poor communities perhaps because of their desperation to have a better life. As a result, however, they're getting poorer and poorer.

Anyway, even if it is not illegal, legal gambling is also played more by poor people than by high income people. As you say, it shouldn't be like that because poor people need every penny to live but many times they end up gambling as an attempt to get out of their economic problems, which makes them worse.

On the other hand, in general, rich people bet less, and when they bet it is with a surplus that they do not need at all to live, even if the amounts are large but they are a very low percentage of their income. Although there are also cases of rich people who have problems with gambling.
hero member
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Rich and poor people will both try hard to make money, the difference is that poor people have to really sweat all day for some money and rich people build businesses and make some big investments.
They will consider money as something very valuable and will always make money the most important thing for life, but many poor people or rich people are unable to appreciate it and use money as they please.
Like they bet and gamble but they can't limit themselves, there is no consideration about how much money from income and how much can be used for gambling, this is mistake that always happens.
From both of them there will always be difference in the amount that of course can and cannot be removed, the amount depends on how much their respective income is.
Sometimes the mistake of having goals and ambitions in gambling also has big influence, poor people are willing to lose money just to pursue victory and this is what makes them always have difficulties.
legendary
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My opinion is that gambling is not for the poor. First and foremost, gambling is wasting money. It's not earning money. Therefore, money used for gambling should be coming from what's extra or surplus. For the poor, however, ever centavo counts. The poor cannot afford to waste money. What little money he/she has should go to his/her needs or the needs of his/her family. It's about priorities.

Second, gambling is for fun. This can't be applicable, however, to a poor gambler. To a poor gambler, it isn't about the fun. It is about trying one's luck to make more money. That leads him/her to realize my first point, that gambling is not making money but losing money. Every dollar that a poor gambler wagers is a sacrifice of his/her or his/her family's needs.

In my country, illegal gambling is preying on the poor. It is rampant among poor communities perhaps because of their desperation to have a better life. As a result, however, they're getting poorer and poorer.
legendary
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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.


People gamble for a different reason. The majority of people are social gambler, meaning they come and go as they play for a while then walk away without distress and any compulsion. Gambling should be for enjoyment, excitement, the camaraderie, impressing the crowd, also the challenge. It's not for risking your hard-earned money as someone with small amount of income. The time comes when gambling behaviors turns into gambling addiction whereas gambling become a mode for Escapes, illusion of control or sense of control, it also became winning for money and chasing losses. Even to say low earners became into these gambling habits as they won't feel the losses that much but they also manifesting gambling addiction and changed it to striving money.

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.



Surviving is winning bro, surviving is winning.

As a gambler you need to set your own limit, the exact amount you can afford to lose when you are not lucky, discipline is a must here as its a bit hard to stay on your budget at times since you also want to win some money, understand the risks and you will be fine.

Other gambler wont care on how much you have left, you are responsible for your own account, that is the key.
sr. member
Activity: 476
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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.
Absolutely right, gamble is about luck but truth be told that the low salary earners values their little money than the rich gambler. The middle class earners might not feel to bad for losing $5 but they might fell bad when they lose more than they can afford to risk. However, everyone has their own categories and classes, wether rich, poor or average salary eaner you have a standard on gamble and it's the particular amount that you can afford to risk. Once you exceed that limits you might not longer fund peace of mind. And if care is not taken I doubt that the person won't chase after his/her losses.
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