Do you gamble because you don't have sufficient money? - page 53.

Dr.Bitcoin_Strange

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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?

OP, it's obvious that in every country, poor and middle-class people are usually much more than rich people, and as such, if counting on gamblers, there is every possibility that the middle-class and poor people will really be more. Although I understand where this argument is coming from, the truth is that rich people really do gamble a lot, and they even spend more money on gambling than poor people. The reason is because they have the money to spend, and if they luckily win, they want their win to be very huge because any small win is just meaningless to them. Even in some movies, it is usually shown that gambling is one of the best things that rich people really do like to spend their time on. Also the reason why it looks like rich people don't gamble is probably because most of them don't have enough time because of their job or business.

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In terms of overall percentages, it appears that there may be more individuals from lower-income backgrounds who engage in gambling compared to the wealthy. While high-profile gamblers are often associated with immense wealth, a significant number of modest gamblers remain under the radar.

On my social media feed, I notice numerous individuals sharing their gambling experiences with small wagers. They frequently showcase their winnings, allowing me to become acquainted with some of them. Even among my colleagues, I observe a similar trend. One of my coworkers allocates 5% of their monthly salary to play slot games each week. I do not consider them affluent since their income adequately covers daily expenses and mortgage payments.

I encounter many people who are not financially well-off, yet they engage in daily gambling activities. Conversely, I rarely come across wealthy individuals participating in gambling pursuits. This is likely because the affluent individuals I know tend to be financially astute, enabling them to control their expenditures, including those related 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?

This is the problem that results into addiction because some people see gambling as a means to get quick money or they see it as a job. Such people will end up being addicted and wouldn't be able to come out from their addiction because they will be busy chasing their loss and losing the more. Gambling should be done for fun and not for profit. Tell your friend that gambling is a matter of choice and those rich men don't gamble hates gambling. The rich gambles more than the poor but because your friend can't mingle with the rich,he wouldn't know if they gamble or not. Online gambling has made gambling activities secretive and no one will no if someone is gambling. Gambling is made for all both rich and poor because it is a means of entertainment.

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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?

Well, compared to the middle and lower classes, I believe it to be true that less wealthy people gamble. In the area of the country where I'm from, it's very rare to come across a wealthy gambler because they rarely have time to do it, and when they do, it's usually just for fun. Because of this, they tend to win more money when compared to people of lower social classes. They play fewer games and wager more money, which increases their wins every time. Many lower class gamblers play basically to make money to survive; some are completely dependent on their gambling because they have no other means of income.

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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.

How does the rich gamble for entrainment? It is obvious that everybody needs money that is why we do see the rich and the poor in the gambling industry. People that say they gamble for entertainment do not want to make it looks like they are all in for the money and advantage they will get when they gamble. Everyone wants money whether the poor or the rich need it to keep staying alive and paying there bills. 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.

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

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...

Most poor people and average earner do gamble because of these reasons and that's the most fucked up mindset why poor people become more poorer. Rich people do gamble because of different reasons, and it's not about become richer although winning is part of it, entertainment is most reasons why they do that. Some are looking for a reason to waste money in casino lol.

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?

Obviously, no ifs and buts, rich people are those few who become successful in life in terms of financial aspects. And they are just few of them in every country, most are just average earner who are sometimes considered as middle class, some or maybe most, are in the lower class

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Quote from: Bananington on July 21, 2023, 12:03:39 PM

Almost every one is knows Drake the artist who has a gambling habit and post his gambling slips often. He gambles with a lot of money, and he is just opne example of someone rich who gambles.

Yeah the name of drake was mentioned as a popular artist and rich but like you said and just like him too, he has that as a habit, profession to stream and win more people over. To him those rich guys who are not social media incline or YouTubers don't usually involve in gambling. That was his view but I think some of these rich people could be gambling in their closet maybe for fun and not necessarily streaming.

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There are certainly more lower and middle class gambling to make money than those rich who are only gambling because they with their friends in the casino. For people who are in the lower class, they are in the casino with the objective to make money, if possible find ways to cheat the casino with their strategy. If the rich gamble. its a go big or go home gamble.

In the gambling house nearby, the rich is noticeable because there will be lot o people behind him peeking his cards all the time and watching how much he'd put on the pot.

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most people gamble for financial reasons, hoping to win money that will change their lifestyle and meet their needs or for some other financial related purpose, and most likely for the lower middle class.
and rich people play gambling just to get rid of fatigue or stress and play without thinking about capital and play to entertain them, but winning is still their hope and they also don't keep playing. And if the goal of playing gambling is only for money, of course they will continue to play until they get it and if it is not controlled it will become an addiction and this often happens to the lower middle class or poor people which makes their life even more miserable.

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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?

There are gamblers in every class of society, and although your friends argument that there are people who are gambling majorly for making money, there are also others who are gambling for fun not to make money. Almost every one is knows Drake the artist who has a gambling habit and post his gambling slips often. He gambles with a lot of money, and he is just opne example of someone rich who gambles. There are other celebrities who have gambling habits; Ray Romano, Tiger Woods, Michael Phelps, Tobey Maguire, Ben Affleck, Michael Jordan are some examples.

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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.

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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?

For gambling, in my opinion, rich and poor will be involved, for example, rich people will bet bigger as if they are just quenching their thirst, but for poor people, the hope is to bet very big, namely by expecting a big win so that they can improve their life so that it is better, but in reality it is not at all. Where I live, petty gamblers, as you say are in dire straits, looking to make a fortune at gambling. As a result, so far I have never seen the gambling activities that they do change their lives for the better. Rich people gamble, of course they can afford to spend any amount of money, so there is no percentage that becomes a benchmark. Whether you are poor or rich when you have gambled, it can end at the same point.

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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.

This is the thinking of someone who is well on his way to becoming a gambling addict. They just justify every unhealthy gambling habit to that they can make reduce the dangers they are walking into. I think there is a psychological term for this.

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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.

Comparing yourselves to rich people who gamble is like comparing Roger Federer who play golf for money to a rich person who plays golf for fun. Rich people who gamble do not do it because they need money, they do it because that is one of the ways they network with other high-earning individuals.

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

There is no particular answer to this question because the answer is relative and varies from one country, culture and region to another.

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Quote from: salad daging on July 21, 2023, 10:23:32 AM

The rich man does not rely in gambling there are still other sources that become his income, he knows how to earn money healthily without gambling games, but that's most of the rich people prefer on their business/investment to generate not from gambling.

I think that is the point he tried to make that because the rich have a stable and steady financial inflow, they may not be found gambling like the lower class. Believe it that most people who gamble do that for the additional money expected as winning reward. I think there could be some sense in that anyway but I also know that some rich do gamble especially in football betting and when they are drinking, they could lock horn in P2P gambling with friends maybe that could be for fun and superiority to show who follows football more.

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Fascinating query, and one to which there is no simple answer. One's financial status is no guarantee that they will be immune to the allure of casinos. The really wealthy may be more likely to gamble than the rest of us since they can afford to lose more money. While the odds of winning are low in comparison to their wealth, many people gamble for reasons other than financial gain.

Gambling adds yet another layer of complexity to the situation. High-frequency trading in the stock market, which some people consider to be gambling, is very different from a low-stakes poker game between friends. When do we say enough is enough?

As for exact percentages, they are hard to come by. The taboo nature of gambling results in underreporting of the habit. This is a fascinating topic, and more investigation would undoubtedly shed more light on it

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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 think most of the lower class can't afford to play gamble and only few of them is risking their small money on gambling with a goal to increase profit. I belong to the middle class but I don't play gambling much because I don't have enough money to be use on gambling instead of risking all my money that I have in an exchange for potential profit.

I think most of the low to middle class gambler only use small bankroll and play moderately. In physical casino, I think rich gambling is higher but I think online casino makes middle and lower class dominate gambling since they can play small.

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The answer to this question depends solely on the person and also their income or how rich they are. For someone that already has a lot of money I don't see why they would ever gamble due to insufficient funds but for one that has moderate amount there is a possibility of them gambling to increase their funds while some might just gamble for the fun and if there are lucky in the process they can also win and increase their bankroll.

For me it doesn't seem logical to increase my money through an activity that doesn't guarantee return, if there was a was to place a bet on a game that's sure to give me double of my amount then I might involve myself but there is a reason why it is called Gambling and I wouldn't want to risk on hope and luck

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?

If you're putting the addiction of the gambler into consideration then they might be a different allocation but if it's just a normal gambler who knows his/her ways around their bankroll management then they might go lower or just follow the normal standard.

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Maybe just look at the number of people buying lottery tickets all over the world. That just shows you how many are hoping to hit the jackpot because they are not earning enough. Rich people gambling on casinos can be doing it simply for entertainment or just addicted as your friend said. There's really no argument here.

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I'd say there are instances that people gamble because they are in need of money. Indeed it is ironic but that's how frustration works for us humans. We tend to embrqce risk to have something despite of the possibility of losing what's left with us. It is not financially advisable to do so but for sure they are doing it for a reason even if it is not morally valid; that simply makes gambling, "gambling". But what about those people who have sufficient money? Why do they gamble in the first place? It is now because of the drive to have more than what they already have as a form of entertainment. Unfortunately, there are instances that gambling pulls them down to nothing.

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

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?

We have gamblers in both categories but i will not vested this decision on one side over the other than concluding the average number of gamblers do gamble for fun, this are the average gamblers on a common occasions followed by the number of poor gamblers seeking to make a living from gambling earnings, but the rich people that gambles are the least in numbers and don't do that to get money but to have fun regardless of the amount involved that they are gambling with, the middle class who also gambles for tun has the majority of the categories of gamblers in this regard.

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