Do you gamble because you don't have sufficient money? - page 54.

mindrust

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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?

Percentage-wise you are probably right. However, amount-wise rich are spending way more than the lower class probably. Rich people are rich for a reason, they usually don't play the games that are going to make them poor in the long run. (in other words they only play the games which they are going to win) That's called mathematics. The poor are usually dumb and they think they can game the system. Each of them think he/she is the one special snowflake. 99 times out of 100 that's not true as you know. Since the poor usually own anything (hence the name poor) they wager everything they get every month and that makes them even poorer.

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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?

Well for start I don't think so, because its fair ratio when it comes to this gambling habit even both the rich guys, Middle class and the poor gamble to the very fullest but the difference is that certain set of these gamblers like the poor class actually gambler to add money or hope to win a miraculous that would change their life for good. While the rich guys like DRAKE(musician) and so many others just gamble for the fun and drive of actually experiencing that winning feeling and they do mainly for fun.

aioc

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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?

If it's based on numbers obviously there are more poor gamblers than rich gamblers because gambling is for everybody and everybody can gamble and casinos accept gamblers regardless of their status in life, but on your question on the title if I gamble if I don't have sufficient gambler I never do that I allocate money for gambling and that is only excess money after paying the bills and groceries.
You are not wise and addicted to gambling if you allocate money that should go to something important.

Ultegra134

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Have you seen many wealthy people buying lottery tickets, praying they'll win? Probably not, because the majority of the participants in such games are hoping to turn their lives around; someone who is already wealthy doesn't need that. Thus, I've noticed that poorer people tend to gamble in an attempt to earn money, anticipating that eventually they'll get lucky and at least win a decent amount of money. It's almost certain that you'll win a few times, but the issue with this mindset and gambling is that the odds are often against you, and eventually, you'll lose what you've previously gained.

Wealthier people, on the other hand, may gamble as a hobby, for the adrenaline boost, or to portray their wealth.

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The main reason the upper class gambles less than the other class has already been pointed out by the posts above, and that's because the number of people in each class isn't the same compared to the other two. It will remain that way forever because even though we'll see an increase in the upper class every year it'll never be big enough to outnumber the other class.

uneng

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Proportionally it's normal there are less rich gamblers than middle class ones. After all, there are less rich people in the world, so they must be the minor portion in many other activities and statistics as well. The point is that rich people are the ones who move the gambling industry, because they spend much more than the other classes combined. While a middle class gambler plays few bucks a week, a rich gambler is placing huge bets, sometimes above the 1$ million mark, while the poor gambler is only buying lottery tickets with the few pennies he has to spend.

Maybe with the phenomenon of online gambling, and sportsbook more specifically, we tend to see the impact of rich gamblers decreasing compared to to the total sum wagered by middle class gamblers, as betting has become easier and more accessible to everyone.

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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 how that people arrive in that conclusion that gambling is the way to make money if you are poor. The host has a higher chance of winning and gamblers always has this chance on winning but the chance of losing is much greater. That kind of mindset is straight wrong and I think it's the opposite of what he should really consider. if your money is not suffucient, finding a way to consistently earn money to address your need is a must thing to do and choosing to gamble is just the plain opposite of the thing that person should do.

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Meaning he only relies on luck in gambling with the mindset of being able to make more money, I think this is the wrong way but an addict will think like that with gambling can change everything.
I know there are some people who rely on in gambling as his income can be said that professional people and have been in gambling for a long time, I will not take this seriously to change financially to make it worse financially.

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.

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Quote from: coin-investor on July 21, 2023, 10:02:26 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.

There would be some rich people that would have gambling addiction too, but they may be able to calculate their risks and not spend more than what can affect them. There are also rich people that have become poor because of gambling. I believe that anyone can become a gambling addict, be it rich or poor. But one thing about the people that are rich is that they believe more in what is letting them to make money and gambling is not one of them, unlike the poor people that can think of gambling as a way to make money, causing the addiction.

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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?

Every gambler has a peculiar reason for gambling. If you research why people gamble you will have different responses from respondents. Many people gamble because they see gambling as a source of income to meet their basic needs. Their main motivation for gambling is to get quick money. I high number of these set of people are found in poor countries where there is a high rate of unemployment and poverty. These set of people resort to gambling because they have nowhere to get income. While another set of people gamble because of fun and entertainment. And you can find the majority of them are in prosperous nations where unemployment is minimal.

I think the poor gamble more than the poor because most poor people depend on luck to get riches. Some people don't care about hard work but believe in luck. But most of the rich have an understanding of how to get wealth so the don't depend on fate but work hard to get wealth. Many rich people don't also have spare time to gamble but the poor have all the time to engage in betting.

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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?

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

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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?

According to what have I researched on in the past, rich people gamble too. They are less in number than average and poor people, but they spend more.

In a population of 100%, likely the highly rich people may not be more than 20%, while 30% can be the average and 50% the people that are not rich at all. If what I said is not accurate because it can differ from places to places, more people will still fall under average and poor.

So who do you expect to gamble more? They are the average and poor people because they are more in population.

Also that, highly rich people are not likely to gamble if comparing it with average and poor people. Poor people do gamble to risk little, expecting that one day they will hit the jackpot. But some can be addicted.

Gozie51

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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?

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