Do you gamble because you don't have sufficient money? - page 52.

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Quote from: Gozie51 on July 21, 2023, 09:47:05 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.

But if you don’t have sufficient money, then gambling shouldn’t be an option because if you gamble with the little you are having and you lose, how are you going to sustain yourself. If you are in need of money and the little you are having you decided to gamble with it, then your chances of losing the bet will be high because their will be pressure on you so you will end up making some silly mistake. If you are not having enough money, then you shouldn’t gamble, gambling shouldn’t be your source of income.

Quote from: Gozie51 on July 21, 2023, 09:47:05 AM

He said if you have sufficient money to take care of your needs that you won't think of gambling.

What I notice is that wealthy people don’t gamble the same way low income earners do gamble, most of the rich people I know do gamble responsibly, they don’t take gambling as a source of income, most of them do gamble just for fun, but the low income earners are the once that take gambling as a thing they will do to earn a living.

Quote from: Gozie51 on July 21, 2023, 09:47:05 AM

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

I can’t really say about other countries, but in my country wealthy people gamble less compare to the way middle or lower classes do gamble. You will hardly see a wealthy person in a gambling shop in my country, but am sure they do gamble online. But you will always see middle class and low income in gambling shops, they are the once that are addicted to gambling.

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Quote from: Gozie51 on July 21, 2023, 09:47:05 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 don't really know the comparison of rich and poor people gambling but in gambling surely rich people are also involved and even far exceed our expectations of the bets played it's just that in this case maybe the perspective is different.
Honestly looking at the paragraph you wrote at the beginning actually such a thing is very unfortunate but conditions like this are like an open secret for some people.
They become very naive when talking about gambling which may be based on frustration and inability to control emotions because of their economic factors that are not very good.
The naive thinking that by gambling you can become suddenly rich should be eliminated because this will actually lead to more misery.

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Quote from: cryptomaniac_xxx on July 21, 2023, 03:34:09 PM

Quote from: Gozie51 on July 21, 2023, 09:47:05 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 don't know that numbers, but I personally know rich people who gamblers a lot and losses big money. And with that, it just shows that anyone, rich, middle income or even lower class individuals tends to gamble, simply as that.

Gambling is very addicted, so once you are hook, if you have sufficient money then the more you are going to play for more, have big capital and perhaps look for bigger winnings to. That's what happen to the individual that I know of. He has won a lot of money already but didn't stop, until he lost everything that we won that night.

My little experience with gambling I must say, wasn't at a live casino. I have tried gambling with friends over cards, when we had less important things to do and it was more fun than the first time I tried to visit a live casino.

Even if I had the money in abundance, I would never be one who would love to go through the emotional checks with my hard earned money, just because I want to double it or wanna blow some money just to make myself happy. It makes the money seem valueless and as such it would make me spend to keep up the habit until I win big.

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the fact is that there are few rich people and there are many poor people, so people with less money because they are many, will be the largest number of people who play, while rich people are few and because they have a lot of money they also have many other things to do in life, and it is difficult for you to see a rich person staying at home all day playing on the computer or phone, in most cases the rich people like to travel, like to walk in many places and constantly, so even if they reserve time to play, they will play for a short time and for that reason you hardly see cases of rich people addicted to gambling

but if you see cases of rich drug addicts, why? because the rich live with other people in nightclubs and on their night walks and end up getting involved in drugs, but you won't see the rich all day indoors playing, these are rare cases that they would do that, they prefer physical casinos but they don't go every day. Of course, there is a case where the rich man got rich because he played because, so in that case he will be constantly in the physical casino, because that is what makes him money, and it is as if it were his profession.

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I don't think that's the whole reason as to why people gamble. I have enough money, and I know that my needs and wants are met and I will still have something to spare or splurge. It's legitimate that some people do it to entertain themselves or just to kill time. If you only view people who gamble as those without money, you're limiting your point of view and not realize that there are some who has more to give and can literally spend money without having to worry about what to eat or where to live until their next pay day.

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Quote from: Gozie51 on July 21, 2023, 09:47:05 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 don't know that numbers, but I personally know rich people who gamblers a lot and losses big money. And with that, it just shows that anyone, rich, middle income or even lower class individuals tends to gamble, simply as that.

Gambling is very addicted, so once you are hook, if you have sufficient money then the more you are going to play for more, have big capital and perhaps look for bigger winnings to. That's what happen to the individual that I know of. He has won a lot of money already but didn't stop, until he lost everything that we won that night.

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Quote from: bittraffic on July 21, 2023, 01:53:29 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.

You are right; some people who work very hard to make money don't really enjoy wasting the money on anything that doesn't add value to their lives, and for gambling, they feel they can have fun with other stuff but not with gambling that requires them to waste money, and winning is never certain. I can agree that the majority of poor people who gamble are doing so definitely not for fun but because they don't have enough money, so they are just trying their luck with gambling if they can earn a little money from it. That's why you see that people who gamble like there's no tomorrow are usually poor people. The rich man will only see gambling as a means to have fun.

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Quote from: bittraffic on July 21, 2023, 01:53:29 PM

Its the confirmation to the question whether users gamble because they have sufficient funds. They gamble because they have money if not then they toil harder to make money. 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.

We cannot deny the fact that most of the people who gets addicted because the reason why they are addicted to gambling it is because they treat it as another way to get money or passive income , even though their money is not sufficient they will do everything that they can do just for them to play gambling. Maybe mostly they are new to gambling because if you are experienced enough you won't do that.

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I have study gambling that the more you're on the run for money through gambling the far it is for you to realize what you want come true, gambling is a game of taking risk, no one have the hundred percent assurance that whenever he vet in gambling he must win, but everyone takes the risk to gamble with the believe that they could earn through that and also have fun, but i don't think majority of the gamblers gamble to make money and depend on it, making money in gambling is not that bad but total dependency on gambling is what should be discouraged, i don't see myself as one who depends on gambling to have money.

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Quote from: Gozie51 on July 21, 2023, 09:47:05 AM

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

I guess that in percentages it's the same... The number of rich people is lower than the number of poor people, my guess is that 20-30% of people from each class like to gamble. After checking it, my opinion is similar with the global average by some sites:

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Worldwide Gambling Statistics Show that 26% of The Entire World Gambles. When you put that 26% into numbers, that's 2 billion and 80 million (2,080,000,000) people.

So by percentage, the numbers are probably pretty even. But if we take only 2.8 billion people into consideration I am sure we will have different numbers. In my opinion, the percentage of rich gamblers is probably the lowest (my wild guess would be around 10% maybe less), then middle-class gamblers, and in the end poor people with the highest percentage of active gamblers.

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Do you gamble because you don't have sufficient money?

And what/where is enough? We all need a bit more, that's a fact. But gambling is not a shortcut to some quick profit... I mean it can be, but not every time. Sooner or later every gambler gets into some longer streak of losses, and if that wasn't the money you could afford to lose you are screwed... more or less, depending on how deep you went.

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Wealthy people usually have a wider range of options for investing and managing their finances. They are less likely to feel the need to gamble in the hope of getting rich quick. Wealthy people already have stable sources of income and the ability to invest in more secure assets.

So I think wealthy people don't have a pressing need to look for ways to make a quick buck. They gamble for fun in most cases.

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I don't think anybody ever did such a study worldwide, but my guess is that gambling is as popular among the rich as it is among the poor. It's just a different kind of gambling. Poor people are often found gambling with pennies, playing slots, putting little money on their favorite sports teams. At the same time rich people put money on horses, they gamble on the stock market, yes gamble, because high leverage trading is gambling, and they play high stakes poker at the casino to show off.
It's not true what that guy said about poor people gambling to make money. If they made money this way they'd only get more confident and kept gambling.

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The percentage in my country that gambles a lot is poor people who want to try their luck at gambling in hopes of getting rich. It sounds sad, but the facts on the ground that gambling addiction occurs more often in the lower middle class, rather than the upper middle class. if they had gambled they would have met ladies of the night and fellow gamblers who had fallen into drugs and women. Maybe you have never heard of a husband selling his wife for gambling purposes, in my country there is something like this.

Poor people play gambling not because they are a hobby or looking for fun but because they are looking for luck through gambling, this is very different from rich people playing gambling because it is a hobby and fun and usually rich people can control themselves. So it's not surprising that the percentage of gambling players is mostly poor than rich people, maybe this is also because gambling sites are very accessible to everyone and gamblers can't use them wisely.

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Quote from: Gozie51 on July 21, 2023, 09:47:05 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?

People who wish to gamble merely on the premises of desperation should be discouraged from gambling at all costs.

With gambling, you cannot make a living wage nor is gambling a get-rich-quick scheme. If somebody is desperate for money, that person becomes easily manipulated by promises of big winnings. They cannot control their emotions and such vulnerable people are always victims. I think gambling for such a person is morally wrong.

However, for people with enough money, who do not throw all their money away and know how to control themselves, gambling can be seen as a form of entertainment, as it should be.

If you go into a casino with small amounts of money and without the goal or desire of making money and you accept the fact that you will lose money, then you won't turn yourself into a train wreck... Roll Eyes

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Quote from: Gozie51 on July 21, 2023, 09:47:05 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?

Statistically, The rich don't gamble as much as the poor, but the thing is that they spend more than the poor.

In a sense the guy you got into an argument with is right. Some of the driving reasons why the poor gamble is because they see it as a way for them to earn a quick buck. Why do you think sweepstakes and lotteries are so big on the average person, and why don't you see rich people flocking on these lotto outlets to save a ticket and wait for a draw? It's because they knew it's a money trap, and at the same time they know better than to think of gambling as a way for you to earn profits consistently. To them, gambling is more of an entertainment, and even though they spend more than poor people, the catharsis it brings and the fact that they can earn it back anyway is what sets them apart from the poor.

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Quote from: DaNNy001 on July 21, 2023, 01:36:06 PM

Quote from: kamvreto on July 21, 2023, 11:46:02 AM

Rich people gamble only to relieve their stress, making gambling as entertainment not as a place to make extra money. Even some rich people who see opportunities in gambling build their own casinos, that way they will get a lot of profit from the casinos they build. And their loyal members of gamblers are usually from people who are poor and hope to get the jackpot overnight, but in the end have to give up with lots of losses. now online casinos have developed rapidly and anyone can do gambling, can not distinguish between the poor and the rich.

Yeah thats true you cant actually the eveluate the correct data but I would like to presume that both parties are multiple in number when it comes to this gambling habit. But rich people something actually feel bored and think to play with their cash and so gamble it all away just to entertainment themselves but even as they do this gamble the winning mentality still roles in their head because no one actually plays gamble with acquiring loss as a first intention.

Its the confirmation to the question whether users gamble because they have sufficient funds. They gamble because they have money if not then they toil harder to make money. 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.

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Quote from: kamvreto on July 21, 2023, 11:46:02 AM

Rich people gamble only to relieve their stress, making gambling as entertainment not as a place to make extra money. Even some rich people who see opportunities in gambling build their own casinos, that way they will get a lot of profit from the casinos they build. And their loyal members of gamblers are usually from people who are poor and hope to get the jackpot overnight, but in the end have to give up with lots of losses. now online casinos have developed rapidly and anyone can do gambling, can not distinguish between the poor and the rich.

Yeah thats true you cant actually the eveluate the correct data but I would like to presume that both parties are multiple in number when it comes to this gambling habit. But rich people something actually feel bored and think to play with their cash and so gamble it all away just to entertainment themselves but even as they do this gamble the winning mentality still roles in their head because no one actually plays gamble with acquiring loss as a first intention.

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Some wealthy individuals may also struggle with gambling addiction, although some manage to calculate their risks and set limits to prevent it from adversely affecting them. Nonetheless, there are also instances where wealthy people have lost their fortunes due to compulsive gambling. It is essential to recognize that gambling addiction can affect individuals from all walks of life, regardless of their financial status!!!!one distinguishing factor among affluent individuals is that they tend to place more trust in their established sources of income and investments rather than relying on gambling as a means to generate wealth. In contrast, some individuals with lower financial means might perceive gambling as a potential pathway to improve their financial situation, thereby increasing the risk of addiction!!!
Overall, it is crucial to understand that gambling addiction can manifest in anyone, irrespective of their wealth or social background. Responsible gambling practices, self-awareness, and seeking help when needed are essential for addressing and preventing gambling addiction across all demographics.

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Quote from: Gozie51 on July 21, 2023, 01:09:19 PM

This is a very good advise and that which I think differentiate the poor who is gambling and the rich who is gambling. The poor gamble in desperation because they see it as the only possible source of income so when they lose a bet, they desperately chase back the money and they keep loosing but the rich could have other source of income that he may have made profit from also so he covers the gambling loss with some profit from his diversified investment hence they wait for a lucky day instead of desperately trying to win at all cost.

Even if you have said something that differentiates poor gamblers and rich gamblers but I would not generalize them all the same. The average gambler gambles because he wants to win, namely in the form of money. Even rich gamblers gamble for money, they also chase winnings and also lose money because of it.

The mindset of the average gambler is the same, not much different between the rich and the poor. But wealthy gamblers tend to have plenty of money to keep on gambling so they won't be affected financially in the short term. The poor and the rich both want to win, it's just that their financial status is not the same.

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Quote from: Wakate on July 21, 2023, 12:32:38 PM

The important thing is that we should not gamble desperately to make money because that will have a adverse effects on us as a gambler.

This is a very good advise and that which I think differentiate the poor who is gambling and the rich who is gambling. The poor gamble in desperation because they see it as the only possible source of income so when they lose a bet, they desperately chase back the money and they keep loosing but the rich could have other source of income that he may have made profit from also so he covers the gambling loss with some profit from his diversified investment hence they wait for a lucky day instead of desperately trying to win at all cost.

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