Topic: Do you think if you have a lot of money its hard to satisfy your ego in gambling - page 2. (Read 678 times)

It's not all about gambling and satisfying one's ego. From what I understand about millionaires and billionaires, they are of different kinds; there are most of them who will really take all kinds of risks to double their money; it also happens in trading. Some will invest a huge amount in trading, and they will also set very high leverage, believing that the market will definitely go in their favor; sometimes it does go in their favor, sometimes it doesn't, so it's about the ability to risk with a very small chance of winning. Definitely, they will not put 80% of their wealth into gambling. If a millionaire has about $990 million to his name and he or she uses $90 million to stake a game, you will see it as being crazy, but it's a risk he is taking with just a small percentage of his total wealth.

I doubt what happens to some members who come here and they say bet in the amount of $xxxxx on a certain casino site, because anyone can talk nonsense my confidence for them actually doing it is 10% meaning 90% I don't believe their bets in high amounts.

Indeed every human being has a selfish nature, indeed every human being has their own way of focusing on themselves, but even though they think that they are the most selfish, but this is rarely done in gambling, especially with large amounts of money, it could be talk that cannot be trusted.

As far as I know, everyone in gambling must think about the risk effects that could occur without realizing it, maybe I'm not gambling crazy like they do.

It will be difficult for rich man to bet with huge amount of money and forget the bet because, they have more time to focus on sports to know the bet that has enter and the ones that are not enter because they value that money they used to play the bet than their daily activities. There is no amount of money, I will have that will satisfy me in gambling unless I just decide to apply sense in a way I will have amount of thousands i will be using in a day to gamble because, if you want to follow gambling with your millions, I think it will finish for gambling without allow you to recover all the money you have spend on gambling.

But if you are addicted to gambling as a wealthy man or woman, you will never be satisfy with your millions or billions in gambling because you will always feel there are still more money until you empty your account.

I think it would be the same case with millionaires. We have less money so we bet with lesser amount.
Rich would be betting with more money but even they would be having a specific budget for gambling.
If they start using all their money and keep losing then even they will freak out and go crazy.
As said, rich or middle class, they can only gamble happily until they are gambling within their limits.

This may be true as OP already said, having our ego satisfied may comes along with some pride which we will have to use our money as the sacrifice in pursuing after that, but the rate of how we have spent money so far will be the determination to wether we can be able to control that ego or not after considering the money spent so far, we also have different rate at which we all can afford to spend money on gambling just as the rate we also have money differs from each other, but as I've said, the rate of losses we made will help control our ego on spending further after realizing the way we've gone so far.

You are very right, atleast, I know of someone in a city where I used to live before I relocated to where I live right now. This guy grew in business and is doing extremely well, back in those times, we were all friends and normally do sit together every evening to play some games which involves us staking some money at times.

This guy will only join us to play the game when ever we are having a free play, but when ever we decide to bet money, he will simply opt out and just sit aside and watch. One day, I personally asked him why he doesn't like to join us to play games when ever we are playing for money, he simply told me that, he worked really hard to get to where he was at the time, that every penny is so important to him and his business, he can't afford to lose any of it even though there is the possiblity that he could win more in the process, but that he doesn't like to depend or put hope on things that are not certain.

Your comment made me remember this guy, he is a true definition of a man who made money, but can't enjoy it because he feels money should be preserved, and not be put into things that are high risk, like gambling.

If they have worked hard to make a lot of money, they will probably appreciate their hard work more and will not spend their money on things they don't need. If they are used to gambling but have self-control, they will not use a lot of money to gamble because they feel that the money is for their family and not for gambling. But if someone doesn't have good self-control, they could use a lot of money, maybe even all their money, to gamble to fulfil their desire. And it's true, it depends on each person. But those of us who already know the impact of gambling and the temptation of gambling may not choose to use a lot of money to gamble.

I think it still depends on the person, because there are millionaires who are not really big spenders. But oftentimes, rich people tend to bet that immense amount of money simply because that is something that they can afford to lose. Based on my observation, rich people really enjoy spending a lot of money for their entertainment because they can afford those like golfing or even buying a yacht. And that is the same thing as spending millions on gambling. I don't think that rich people have a high level of enjoyment, it's just that there is leisure that is built for rich people which only they could afford. Because I think rich and poor people have the same level of enjoyment. And we cannot quote them as gambling addicts just because they're spending huge amounts of money, because their gambling habits are still controlled. Gambling addicts are those who cannot afford any bets, but still try to do betting which leads them from having debts.

Being rich, gambling millions at the same time and the perception of being a fulfilled person is a topic is rather of a psychological and philosophical nature.
In my personal opinion, it becomes increasingly difficult to increase one's level of happiness the more one has as an individual. The human being is an species which always look to improve their situation and live as comfortably as possible, thrus we work to get to it and make sacrifices for it.
When someone wins the lottery and become rich, they may feel very happy for some weeks or months, before that life or status becomes their new normality and starts to seek to increase their standard of living even further.

The highest you get in status and money, the more painful can the fall be and the harder becomes to climbing even higher for happiness. It does not matter who much money one has, it is key to be humble and respect others.

I think it completely depends on each person individually.  Everyone is a bit different in how they handle and or spend their money when they've got a lot of it.  A lot of people worked hard for that moeny and aren't willing to just give it up so easily.  Others may have worked hard but have no problem gambling with it, as perhaps that's how they became to have so much money on hand, taking gambles in life.

Yes that could be true, because basically the higher a person's income, the greater the expenses, whether it's for the necessities of life that are a little more luxurious than others and also whether it's for a desire that is certainly higher than people who have an income below average or middle class. So yeah right I also wouldn't say that this is entirely because of ego but maybe they are trying to balance their income and expenses, honestly I wouldn't say they are frugal because obviously if they are one of the frugal people then even though their income is quite large but they will try to minimize the needs or desires that are completely useless like for example spending money on gambling, it's very possible when you are already involved in gambling, for the amount I don't know but certainly it might be quite large.

Well it makes sense, rich people may also do the same thing as us especially in gambling but maybe the difference is that the amount of their budget is much higher than us, but it's just a matter of balancing with the finances that we each have. Exactly, that's what makes them not put a small budget when gambling because obviously even if they win it might not mean anything to them, the point is big for us is not necessarily big for them.
 

It's not really about the ego, in my opinion, but the actual reality is that your expenditures basically depend on your income or net balance that you have. So if you are someone who either earns a lot of money or has a lot of money readily available all the time and you are the only owner of that money, you will tend to spend that money according to your financial status, and gambling, in this case, is no exception as you will obviously use more money in it as well.

So, I believe that the people who are high rollers and use millions of dollars on bets are actually doing it just like us, but it's just that their income or net worth is so high, that they can't make small bets because even if they manage to win after making a small bet, it won't be worth anything in front of the wealth they already own.

Human greed is truly bottomless. I understand that when you have millions, you will confidently bet large amounts of money. But how much money is enough for our ego? Even people with billions of dollars in hand find it difficult to satisfy their ego in gambling.
If I had millions of dollars in hand, I would gamble modestly with a small initial capital, or I would give up playing chess altogether. Because gambling is simply for entertainment, when you have money, many other games will replace gambling. If you still express your ego in gambling, then I'm sure you are addicted to it.

Of course if we have a lot of money, we will probably bet big because we can afford to do so. If people don't have much money but insist on betting big then it is a mistake.

However, when it comes to ego, greed and emotions when gambling, it depends on each person's responsibility in gambling. I don't think it's a guarantee that people who don't have a lot of money will be more careful about gambling. I see people who speculate excessively by risking all their money on gambling

But in my opinion, it is very likely that people who have a lot of money will spend more money gambling, because if they are emotional because they lost gambling, they will probably make big bets.

True, just like on real life scenarios on which we could really be able to buy the car that we want but on the time that you had achieved such goal then it would be normal that you would really be liking to try those luxury brands or something that you hadnt try. It would really be just that so normal that human beings are really that easily to be get bored on something that they had attained or reached.
Just like when you do gamble on which if you have already come into a point on hitting 1M winning then you would really be that trying to reach or hit up something more bigger or higher
on which it is really just that a common behavior for most gamblers specially to those who are multi-millionaires.

Somewhat this is really that actually situational considering that not all players are millionaires and if there's one who do able to make millions but only got from small bet with higher multiplier
then i doubt that they would really be that spending up those money all in gambling again.Partly yes but not all the amounts and for sure they would be buying onto those things that they do like or want.

The gambler will not require the winning for their survival to the life,because the gambler use the free money to the gambling sites.The few gambler use the full income to the gambling,So they will wait for the big win and play the entire match only for the win.So he can cash out the money from the gambling and use for the real life expenses.Earning from the job is not alone to become the successful person.To most of the gamblers,the big win always satisfy the gambler ego.So they can do the use of the money for their needs.The gambling sites give more win for the gambler was passionate based on their luck.

No matter how much money you have, it's all about the feeling you get on a big win. You're always chasing that high so to speak. It's like a drug that you can never get enough of. If you have won a million dollars before in 1 bet, all your small wins will feel like nothing. You'll always be looking to have that feeling you had when you hit the million.

An addicted person never really knows when he is satisfied because for him every try in his gambling act is a possible win even when he or she has millions of dollars in his possession. I think for some folks, the whole gambling theory is just to experience that feeling of actually wining not minding if he or she is actually going to squander his money if he actually hits a losing streak.
Gambling can be crazy sometimes and some of rich guys actually just gamble for fun while most other people see it as a means of income.

I agree, most of our answer is just a possibility and not an actual decision since many of us are not yet on that level of wealth.  But I think with the way we gamble, we might take a hint of what we will be spending if we have such amount of money.  I think that if there is a lot of extra money in hand, we can surely spend more in our gambling activities.  A hundred or a thousand bet is nothing if we have millions of dollars in our stash.

But I think bet is irrelevant to gambling satisfaction of a player.  As long as he enjoy what he is doing, a gambler will be satisfied even if he is betting the minimal amount for wagering.

let's admit it we can't be having millions to our name being so stinky rich and still be playing thousand dollar games it's just not possible to control the financial status influence with our wagering amount as we gamble,. The amount of money we spend in gamble be it within a limit or beyond it represent our financial level as nobody can gamble beyond what he has. We believe that having so much money to gamble gives you higer advantage to win huge money and that's why if you look at the rich gamblers especially in sport betting they don't accumulate odds, they can just pick a single match of 2 odds and bet on it with let say $1M and make profit of $2M easily even though that's not always the case .