Do you gamble because you don't have sufficient money? - page 51.

Gozie51

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Quote from: uchegod-21 on July 22, 2023, 04:34:26 AM

Both rich and poor gamble and both becomes addicted, but the addiction of a poor man is easily noticeable because of lack of money.

If the addiction of the poor is easily noticeable that means the poor gamble with desperation to meet up with needs and regain his lost money which in any case is not regained because he continues to lose as it is not easy to win often times against the house or the casino. This is the situation in gambling for those who see gambling as source of income or that try to get huge jackpot from gambling.

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...gambling responsibly. Do not be addicted.

Quote from: yahoo62278 on July 22, 2023, 04:47:30 AM

The rich are rich usually because they are smart with finances and investments, not because they gamble and got lucky. They may partake in a casino trip here and there but they're not gambling millions of dollars a day. I don't know the percentages, but I think most people are gambling for entertainment regardless of their status in society.

It is good to gamble responsibly. And if a gambler is gambling responsibly, he needs to have gambling budget and it should be very small in percentage to the 100 percentage of what he is earning every week. But in reality, some people see gambling as a way to make money and they become addicted and they later sufferred losses. I have read on an article before that 20% of gamblers are likely to be addicts. Which is truly that not still most people in the population.

Among the American rich people, I have read a PDF before that compared between how rich people are gambling and how much they spend on vacation. It was estimated that rich people spend much on gambling, but which is still less than the amount they spend on vacation.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

I was in argument with someone. His view is that people who gamble are those that what they have is not sufficient for them and so they try to make more money from gambling. He said if you have sufficient money to take care of your needs that you won't think of gambling. He made reference to some rich people, who don't gamble because they have sufficient money to even gift to charity but that those rich who still gamble are only addicted to it not just because of the money. Therefore, that the percentage of the rich gambling is very small compared to those in middle class and lower class.

So my question is, is the percentage of the rich gambling lower than the middle and lower class?

The rich are rich usually because they are smart with finances and investments, not because they gamble and got lucky. They may partake in a casino trip here and there but they're not gambling millions of dollars a day. I don't know the percentages, but I think most people are gambling for entertainment regardless of their status in society.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

I was in argument with someone. His view is that people who gamble are those that what they have is not sufficient for them and so they try to make more money from gambling. He said if you have sufficient money to take care of your needs that you won't think of gambling. He made reference to some rich people, who don't gamble because they have sufficient money to even gift to charity but that those rich who still gamble are only addicted to it not just because of the money. Therefore, that the percentage of the rich gambling is very small compared to those in middle class and lower class.

So my question is, is the percentage of the rich gambling lower than the middle and lower class?

I do not gamble because I need money. I only gamble on sports bet and the reason I do that is to enable be get entertainment while watching the match. For instance if Manchester City is playing with Liverpool, I know that it will be a tough match and to increase the tension and entertainment, I will bet on the outcome of the match. With that, I'll not miss any scene in the match.

Both rich and poor gamble and both becomes addicted, but the addiction of a poor man is easily noticeable because of lack of money.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

I was in argument with someone. His view is that people who gamble are those that what they have is not sufficient for them and so they try to make more money from gambling.

Your friend is saying out of his own idea, if someone can fund his betting account from his bank I don't think he don't have money for financial needs but if a gambler can go to a betting shop to stake game with his hand hold cash I really think he's trying to add more to it besides that's from his own thoughts.
Nowadays almost everybody thinks that money in the bank is way more bigger than money at hand, someone can easily fund more than what he's/she budgets because he isn't seen the money, if the money is in the hand of a gambler it can be more safer to gamble with because it's been buget.

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Quote from: swogerino on July 22, 2023, 03:56:08 AM

Yes it is and I can also be sure of this as I don't see any of my boss close relatives who have a lot of money to never gamble,well except his nephew who despite having loads of money was totally addicted to gambling that he lost everything there,the car,the house and every single penny,he lived at rent before he died as he was relatively old for gambling that much and the stress levels created by such life he conducted brought him to destruction.Except him all other persons close to the boss who happen to be his relatives too they don't have the need to gamble as they have far more enough money than they need,so yes it is true in gambling the percentage of people who are rich is much lower than other classes.

Even if someone first tries to use gambling to earn extra money, or to make it their main source, they will quickly realize that gambling will not be able to give them what they are looking for. But so will those who can become addicted to it, at first out of a desire to recoup, and then perhaps just in pursuit of adrenaline. The rich probably don't play for the money...

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Although based on the news spreading around that make we think most of gamblers are the poor and middle class, but I think the number of gambler is mostly dominated with the rich class. This is because the rich have set how much they want to gamble, let's say 2% of their monthly income, such amount isn't really high and when they lose, they're fine. While the poor and middle class tend to gamble with all of their money, when they lose, they will cry and the medias will create stories about their gambling experience.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

So my question is, is the percentage of the rich gambling lower than the middle and lower class?

IMHO, it's the other way around.

There's majority of these gamblers that are rich but many of them as well have turned into a lower class after they've lost their control in gambling. That's when they've became addicted and a compulsive gambler.

Well, this is a good topic to discuss with and if somebody is experiencing a bad day in gambling and he's damn rich. You'll never know what he can do with his money ready to be gambled on his pocket.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

I was in argument with someone. His view is that people who gamble are those that what they have is not sufficient for them and so they try to make more money from gambling. He said if you have sufficient money to take care of your needs that you won't think of gambling. He made reference to some rich people, who don't gamble because they have sufficient money to even gift to charity but that those rich who still gamble are only addicted to it not just because of the money. Therefore, that the percentage of the rich gambling is very small compared to those in middle class and lower class.

So my question is, is the percentage of the rich gambling lower than the middle and lower class?

Yes it is and I can also be sure of this as I don't see any of my boss close relatives who have a lot of money to never gamble,well except his nephew who despite having loads of money was totally addicted to gambling that he lost everything there,the car,the house and every single penny,he lived at rent before he died as he was relatively old for gambling that much and the stress levels created by such life he conducted brought him to destruction.Except him all other persons close to the boss who happen to be his relatives too they don't have the need to gamble as they have far more enough money than they need,so yes it is true in gambling the percentage of people who are rich is much lower than other classes.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

So my question is, is the percentage of the rich gambling lower than the middle and lower class?

It's very obvious and no debate or study is needed to discover this claim. The percentage of the riches gambling is not in anyway close to the percentage of the average class that are gambling. Your friend is however wrong in his perspective at least in my opinion. Every gambler, both addicted and non addicted know that gambling is a game of risk and the chance of your winning is slim, so why would someone with less money thinking of gambling to increase the money knowing that you might end up losing the that little that you have? I know of course people gamble for fun and to also make profit but I don't believe that it's the lack of sufficient money that make people to gamble.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

So my question is, is the percentage of the rich gambling lower than the middle and lower class?

the person you were arguing with is somewhat correct, from what I remember reading from articles in the past, poor or low-income households tend to gamble more because of the chance of winning a big amount of money(of course people might have other reasons too). That being said, rich people that gamble are not necessarily addicted to gambling, a lot of them might be doing it for entertainment, socializing, etc...

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I think that is wrong.
There are different types of gamblers. Some would like to have fun while chasing a jackpot chance. Some gamble because they are financially challenged. Others made it a hobby to gamble especially in their favorite games either in slot games or in sports betting. So we cannot only rely on one reason why a person starts to gamble.
You may just be arguing against the wrong person especially those who have not yet tried to play in a gambling site or a physical casino. There's fun in it, you can meet different people, you become competitive, or you just want to bring down the house.
I don't think you will against that type of person in an argument.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

I was in argument with someone. His view is that people who gamble are those that what they have is not sufficient for them and so they try to make more money from gambling. He said if you have sufficient money to take care of your needs that you won't think of gambling. He made reference to some rich people, who don't gamble because they have sufficient money to even gift to charity but that those rich who still gamble are only addicted to it not just because of the money. Therefore, that the percentage of the rich gambling is very small compared to those in middle class and lower class.

To each their own. But I have seen that he's partly correct on this one because on those remote areas where there's not that much opportunity, they resort into gambling as a way of living and earning.

Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

So my question is, is the percentage of the rich gambling lower than the middle and lower class?

You'll never know. Go into renowned gambling places and you'll see a lot of rich people go there and the requirement even is hard for the poor people to get there. That's why the percentage of it are inaccurate because gambling doesn't really have specifics in terms of who are the gamblers and who are not.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

I was in argument with someone. His view is that people who gamble are those that what they have is not sufficient for them and so they try to make more money from gambling. He said if you have sufficient money to take care of your needs that you won't think of gambling. He made reference to some rich people, who don't gamble because they have sufficient money to even gift to charity but that those rich who still gamble are only addicted to it not just because of the money. Therefore, that the percentage of the rich gambling is very small compared to those in middle class and lower class.

So my question is, is the percentage of the rich gambling lower than the middle and lower class?

Your friend is quite wrong for that. In fact, most people in casinos are rich people, but it's different from people from the lower or middle class, these rich people usually play gambling as entertainment or socialize with other players to increase their network. Especially in Asia, most of the rich people here play in casinos like in Macau, Singapore, Hong Kong, etc., because it's like part of the culture especially for Chinese people, you are not called a rich person if you don't gamble.
However, the percentage of rich people who gamble is much smaller than the middle and lower class, because there are fewer of them, so their percentage is lower.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

So my question is, is the percentage of the rich gambling lower than the middle and lower class?

Hard question to answer because it needs a specific study or research to know the closest actual percentage. But if I have to answer based on what I see in actual life around where I live, yes majority gamblers are from lower-middle economy class. There are some who rich enough but as far as I can see the frequency of when they gamble is less than those who are from lower-middle class. Coming up to the reason why those people, I cant say anything because it is something personal and people may have their own reason why they do gamble but we cant deny the fact that most people gamble for the sake of money.

Gozie51

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Quote from: bittraffic on July 21, 2023, 02:53:29 PM

People who work hard to earn some money don't risk the hard earned money and if they do, it will be very limited. Their money is already intended to their family. However people are always tell themselves to make money work for them, funny its misunderstood that way which the lower class gambles like there is no tomorrow.

Those are simply the group of people who don't gamble at all. They are those who don't see any benefit in gambling. They are probably the group of people like the person arguing to the topic regarding to people who don't have enough money and feels they can make more money to support themselves through gambling. Therefore, some people work hard but they also believe they need to gamble and add up to what they get from their normal jobs through working hard and others believe they only need to stake with what they get from working hard because they may lose it all.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

I was in argument with someone. His view is that people who gamble are those that what they have is not sufficient for them and so they try to make more money from gambling. He said if you have sufficient money to take care of your needs that you won't think of gambling. He made reference to some rich people, who don't gamble because they have sufficient money to even gift to charity but that those rich who still gamble are only addicted to it not just because of the money. Therefore, that the percentage of the rich gambling is very small compared to those in middle class and lower class.

So my question is, is the percentage of the rich gambling lower than the middle and lower class?

what I know about gambling is that there are only 2 possibilities, namely people gambling for fun and people gambling for money. these two types of gamblers don't see whether he is rich or not but rich people also need money, of course it's just that sometimes rich people are too busy with their business, different from lower-class people who always have a lot of time to gamble.
well, I will say again that all the gamblers that I know, they gamble for fun and that there are not only rich people but also poor people. and rich people who gamble to get more money also certainly exist.
being rich or not doesn't guarantee whether someone in gambling is just looking for entertainment or looking for profit.

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Quote from: coin-investor on July 21, 2023, 11:02:26 AM

Based on the article I found online people in the poor neighborhood have gambling problems but this is an old study I don't know the recent and I think the study is still relevant today because there are many poor people compared to rich people, here in our location a game whenever there is a fiesta and there is a betting game there a big numbers of poor and middle class people although rich people play in casinos they are outnumber when it comes to lottery games where people bet to change their life for the better, with so many people in the world they turn to gambling like lottery because its a cheap ticket out of poverty if you hit the jackpot.

People in poor neighborhoods are twice as likely to have gambling problems, study finds

This study only includes American citizens so it would not necessarily be representative of the situation in other countries. In the United States most forms of online gambling are illegal. There are also not that many physical casinos because it is only allowed in a couple of states and on Tribal territory. With almost no options people will turn to unregulated gambling which would have a greater appeal to lower class people.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

I was in argument with someone. His view is that people who gamble are those that what they have is not sufficient for them and so they try to make more money from gambling. He said if you have sufficient money to take care of your needs that you won't think of gambling. He made reference to some rich people, who don't gamble because they have sufficient money to even gift to charity but that those rich who still gamble are only addicted to it not just because of the money. Therefore, that the percentage of the rich gambling is very small compared to those in middle class and lower class.

So my question is, is the percentage of the rich gambling lower than the middle and lower class?

Of course, because there are more people with low incomes than rich people, so that a greater percentage of low-income people gamble and that's not the only one of the factors why fewer rich people gamble because they are already busy with all their business matters compared to low-income people so that the opportunity to gamble is greater, especially if these poor people think that one of the ways to earn money is by gambling, even though we know that is not the right way because gambling is not an activity that provides certainty of profit, very different from working where we will definitely get paid.
To be honest, this mindset is quite strange because if he doesn't have enough money to make ends meet and tries to make ends meet by gambling, it will actually endanger his life more, and I can say that a person like that is quite stupid, even when we have savings it is highly recommended to keep gambling with money that we can afford to lose and it is impossible for us to be able to lose the money if we use the money for basic needs that are not even enough, so this person has a pretty stupid mindset and should be advised.

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Quote from: Gozie51 on July 21, 2023, 10:47:05 AM

I was in argument with someone. His view is that people who gamble are those that what they have is not sufficient for them and so they try to make more money from gambling. He said if you have sufficient money to take care of your needs that you won't think of gambling. He made reference to some rich people, who don't gamble because they have sufficient money to even gift to charity but that those rich who still gamble are only addicted to it not just because of the money. Therefore, that the percentage of the rich gambling is very small compared to those in middle class and lower class.

So my question is, is the percentage of the rich gambling lower than the middle and lower class?

There are more betting shops in poor neighbourhoods than in rich neighbourhoods, and more lotteries are bought in poor ones too. So this person is partly right in what he says. But it is not only the lack of money that makes people gamble, and there are rich people who gamble, even if they are proportionally smaller. The entertainment, the rush they experience when gambling, the possibility of hitting a big win according to their bankroll (they gamble harder and can win proportionally more), are reasons for them to gamble.

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