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Topic: Is gambling a weird way of weath redistribution? (Read 1545 times)

hero member
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September 16, 2024, 04:54:11 PM

however in a business that will continue to experience turnover. no exception in the gambling business. many people will say the biggest profit will be held by the casino. but the wealth does not stop there. some gamblers win and there are those who lose. we will not say that the winning gamblers get money from the losing gamblers. we know the casino has enough money to operate the casino and pay its winners.
distribution of wealth I think happens in all businesses.


The gambling should be considered as the entertainment source instead of making it as the business.If the player consider gambling as the business,they will target the return and profit from it.But the gamblers can get the entertainment from the gambling site for sure.The particular tactics was the important one for the gamblers to make money from the gambling site.The gambling site should have enough money to rotate in the gambling site.Because sometimes many people can win the game,So sometimes gambling sites also owe money to the gamblers.Sometimes gambling sites had huge profits from the gambling play.
sr. member
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I don't think there is anything like having a linkage to achieving the goal of wealth redistribution in gambling, because we are gambling not to make wealth, even though there may be opportunity for doing so, but we are gambling all because we wanted to have fun, make friends and enjoy ourselves, people should not put false impression on others or mount on them unnecessary pressure about what gambling is or can offer.

This mindset have landed some folks in this sate of being reckt . Taken gambling as a means to get rich , rather gambling is something one do for fun. But some folks sees it the other way round . They sees as a opportunity to get rich quick, just by hitting the jackpot, though it is possible but not easy at all , if you approach it wrongly , you may endup losing everything before even thinking of hitting the jackpot and stuff .

That's why now and days they are alot of sad stuff stories concerning gambling, because most people take it as a means to get rich quick and start gambling irresponsible just to hit their goal faster not knowing that they are only making their conditions worse. So take it as activity time while away time and if you win any extra bucks take it as bonus of being enjoying the entertainment of gambling.
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As wiki says, wealth redistribution is from some people to others and in this case the wealth is redistributed from the losers in gambling to the gambling winners and the casino site owners.
In a way it does fall into the category of wealth redistribution as the money if flowing some people to others.
We don't need to analyse the exact numbers anyway right.
It's something like that.

A wealth distribution, someone's a wealthy gambler and lost his bankroll within the night to the casino so the first case is that his wealth is transferred to the house.

And the other scenario, someone who's a small bettor has won overnight and that wealth is also distributed to him from the losses of gambler's like the wealthy one.
sr. member
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I don't think there is anything like having a linkage to achieving the goal of wealth redistribution in gambling, because we are gambling not to make wealth, even though there may be opportunity for doing so, but we are gambling all because we wanted to have fun, make friends and enjoy ourselves, people should not put false impression on others or mount on them unnecessary pressure about what gambling is or can offer.
sr. member
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I disagree with the OP. Gambling is not a way of wealth distribution. A system that is based on chance (where the chances are mostly not in your favor but in the favor of the casino), tell me who is benefiting from this wealth distribution. Casinos do not give the deposit of the poor back to them when they lose. I often say one shouldn’t take gambling as a source of income or a means to create wealth. Unless you’re as rich as Drake who can lose over $100k in a single bet and still be comfortable, you have no business gambling above your means.

I think what OP is saying in essence is that poor and wealthy people like gambling as some people see it as social engagement and entertaining while some people see it as way of making money and when you look at this two, it's the rich people that mostly see gambling as entertainment, people in the average level see gambling as money making place and what casino does is that it make money from both parties and he think poor people win the most which is false.

In every poor gambler that win bet, there are other wealthy that wins the money too but in term of numbers of players, poor people tend to play the most and tend to lose money the most. So it's safe to say gamblers that lose money to casino are people that put money before the gambling and more reason why it's valid to say they loss money in gambling the most.
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No no i disagree with you on this. Every action on gambling is done by the full awareness of the gambler. You can tell me when they are losing and continue betting that they do not know that they are losing.
I think you’ve misunderstood my point, I never said anything about a gambler losing money and not knowing that’s he’s actually losing money. Of course every gambler knows when he’s losing money. What I’m trying to say is that, a gambler may not plan to gamble excessively or lose much money when he goes to the casino, I mean no gambler wants to lose money. Some gamblers may walk into the casino, setting a gambling budget fr himself and has the intentions of sticking to those budgets, but along the line loses control and spends more than his budget. I never said a gambler would lose money without knowing he’s actually losing money.
legendary
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I disagree with the OP. Gambling is not a way of wealth distribution. A system that is based on chance (where the chances are mostly not in your favor but in the favor of the casino), tell me who is benefiting from this wealth distribution. Casinos do not give the deposit of the poor back to them when they lose. I often say one shouldn’t take gambling as a source of income or a means to create wealth. Unless you’re as rich as Drake who can lose over $100k in a single bet and still be comfortable, you have no business gambling above your means.
I also think this, a redistribution of wealth would mean that casinos give most if not all their winnings to the people that need it the most, but since this is not happening then not only there is no redistribution of wealth but instead what we see is a concentration of it, as casinos keep all of that money for themselves and to keep their business running, however gambling can be understood as a tax on the poor, as statistics show this is the social group that spends a higher percentage of their earnings on gambling.
sr. member
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Individuals gambling that have family to feed shouldn't be gambling excessively and always have plans for when they don't win but loses. There should be different ways they can supply money to their family so the family doesn't starve if they depended on him to feed. Family should have both parents helping out and not depending on only the husband as they'll make him to be stressed to always provide. The husband is meant to be the provider but the wife can help him sometimes and the family will be in unity not minding if the husband can't provide for the time as he's having shortage of money. No man should be gambling as the only way to provide for his family.
Most times, some of these gamblers who gamble excessively didn’t actually plan to do so, sometimes it just happens all of a sudden, one thing leads to another and the gambler ends up making some irrational decisions. This isn’t something that’s always planned by the gambler. Yes it can be very dangerous to only depend on gambling for income, especially for someone with responsibilities, this can often pressure someone into making wrong decisions by taking too much risks while trying to win by all means. In fact the very first mistake anyone can do is viewing gambling as a source of income, gambling should be for fun and if you eventually win while having fun on the process, then it’s a double win for you and if you eventually lose, you wouldn’t feel too bad about it because you had some good fun even with the loss.
No no i disagree with you on this. Every action on gambling is done by the full awareness of the gambler. You can tell me when they are losing and continue betting that they do not know that they are losing. Of course, they know but the urge to win will still be pushing them to gamble more and before you know they have gone excessively into gambling. There is no mistake in the action we take in gambling. It's well-planned and we are meant to take responsibility for our actions.

Gambling can be an alternate source of income if one originally has a primary source of income from the very beginning. I have seen people who gamble but they have thriving business and companies. They are the most successful gambler because they are the ones who don't go risky with odds but with money.
Rich people must have sources of money from various businesses. If a businessman gambles, he must know his limits and have a budget or pocket money per month. Not because he is looking for extra money but just for entertainment. Because I see businessmen destroyed because of excessive gambling. Slowly there will be a loss of balance because it is not controlled
sr. member
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In fact, one of the reasons casinos are so profitable is that both the rich and the poor collect money for them, but very little is distributed to everyone. Since it is their business they will pay their employees. Also to run a casino requires a lot of workers and without workers they cannot run the casino. There are very few people who never go back to the casino after winning big. Because whenever you win big money then the addiction to casino will increase.
hero member
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Talking about having a future that with gambling, its possible but it will have to depend on the gambler and their approach to the games but if they are addicted and aren't making profits enough then the chances they are goin to make a future off it becomes slim but otherwise they get a good future of it if managed well.
It can happen but this kind of thing will only happen to a few people such as professional gamblers or people who are in the scope of gambling as a bookie not as a player.  The rest of this cant be used as a source of future especially when talking about ordinary players who only play to relieve fatigue or try their luck to change their fate I think it's hard to happen.

It needs to be believed from the start when we are a player who is categorized as an ordinary player (not a professional gambler) then we must be realistic about opportunities and gambling is not a wise choice to get benefits for a better future because in the end what happens is the opposite where you will be confused and difficult to control gambling activities that make your money specifically for the future lost at the gambling table.
legendary
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Yesterday I was sorting my winnings tickets I put while watching the game, had quite a nice sum and while standing in line to cash them I thought about how money is moving around, got the idea it's pretty close to a wealth redistribution.

Might be a stupid theory but hear me out on this, we have the gamblers that bet on 1 million, half of them lose, half of them win, the casinos get their 5% share, from this share they pay wages and rent and other costs, cutting the part where the casino gets the money it's that basically gamblers pay the wages of the whole staff manning those, and they also shuffle money between them.
Assuming rich people have more to lose and their share of the losses is bigger, taking into account they support with this money a ton of jobs, 70 000 in Europe alone, is this a form of wealth redistribution?

You seem to think that every single bet has an opposing counter party, that somebody else must be betting an equal amount on the opposite side of the trade? That is simply not true. Casinos might try to offset some of the risk by offering slightly favorable odds on the other side, if one side of a bet takes too much action, however they do not routinely equalize both sides of a book. You are often betting directly against the bookmaker, who has calculated through a lot of analysis a number that they consider to be a reasonable price to offer you. The only wealth distribution that is taking place there is your money quite often ending up being paid out along with the other hundreds of millions to a casino owner each year in profits.
sr. member
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Individuals gambling that have family to feed shouldn't be gambling excessively and always have plans for when they don't win but loses. There should be different ways they can supply money to their family so the family doesn't starve if they depended on him to feed. Family should have both parents helping out and not depending on only the husband as they'll make him to be stressed to always provide. The husband is meant to be the provider but the wife can help him sometimes and the family will be in unity not minding if the husband can't provide for the time as he's having shortage of money. No man should be gambling as the only way to provide for his family.
Most times, some of these gamblers who gamble excessively didn’t actually plan to do so, sometimes it just happens all of a sudden, one thing leads to another and the gambler ends up making some irrational decisions. This isn’t something that’s always planned by the gambler. Yes it can be very dangerous to only depend on gambling for income, especially for someone with responsibilities, this can often pressure someone into making wrong decisions by taking too much risks while trying to win by all means. In fact the very first mistake anyone can do is viewing gambling as a source of income, gambling should be for fun and if you eventually win while having fun on the process, then it’s a double win for you and if you eventually lose, you wouldn’t feel too bad about it because you had some good fun even with the loss.
No no i disagree with you on this. Every action on gambling is done by the full awareness of the gambler. You can tell me when they are losing and continue betting that they do not know that they are losing. Of course, they know but the urge to win will still be pushing them to gamble more and before you know they have gone excessively into gambling. There is no mistake in the action we take in gambling. It's well-planned and we are meant to take responsibility for our actions.

Gambling can be an alternate source of income if one originally has a primary source of income from the very beginning. I have seen people who gamble but they have thriving business and companies. They are the most successful gambler because they are the ones who don't go risky with odds but with money.
hero member
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I disagree with the OP. Gambling is not a way of wealth distribution. A system that is based on chance (where the chances are mostly not in your favor but in the favor of the casino), tell me who is benefiting from this wealth distribution. Casinos do not give the deposit of the poor back to them when they lose. I often say one shouldn’t take gambling as a source of income or a means to create wealth. Unless you’re as rich as Drake who can lose over $100k in a single bet and still be comfortable, you have no business gambling above your means.
full member
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Individuals gambling that have family to feed shouldn't be gambling excessively and always have plans for when they don't win but loses. There should be different ways they can supply money to their family so the family doesn't starve if they depended on him to feed. Family should have both parents helping out and not depending on only the husband as they'll make him to be stressed to always provide. The husband is meant to be the provider but the wife can help him sometimes and the family will be in unity not minding if the husband can't provide for the time as he's having shortage of money. No man should be gambling as the only way to provide for his family.
Most times, some of these gamblers who gamble excessively didn’t actually plan to do so, sometimes it just happens all of a sudden, one thing leads to another and the gambler ends up making some irrational decisions. This isn’t something that’s always planned by the gambler. Yes it can be very dangerous to only depend on gambling for income, especially for someone with responsibilities, this can often pressure someone into making wrong decisions by taking too much risks while trying to win by all means. In fact the very first mistake anyone can do is viewing gambling as a source of income, gambling should be for fun and if you eventually win while having fun on the process, then it’s a double win for you and if you eventually lose, you wouldn’t feel too bad about it because you had some good fun even with the loss.
legendary
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We couldn't control that state of the person during the gambling moments specially when there's an influence of alcohol and other substances that's unavoidable. However, that depend on the person who has the best discipline with respect to wealth distribution. Some players do win, but for most who played without any goals with their finances; I guess that wouldn't be a smart mindset. Gambling habits wouldn't give you a good future particular to those people with families to feed.
Sometimes, controlling some one gambling especially under the influence of something is a very difficult task because they are and may not listen to you because they will be bent on getting a win and anything that isn't showing them such or isn't making them feel they are getting such is definitely going to not be something they would want to listen to at the moment because they are not in their perfect state of mind.

Talking about having a future that with gambling, its possible but it will have to depend on the gambler and their approach to the games but if they are addicted and aren't making profits enough then the chances they are goin to make a future off it becomes slim but otherwise they get a good future of it if managed well.

If it is in poker or sportsbetting, I can say, there's a possibility for the person to make profits or make it as a living. However, he needs to be the so-called expert on these aspects of gambling, before they can be confident to themselves that they can truly say, they can make profits out of this activity. It is not an overnight task but years of experience and honing their skills. So talking about future, this is actually very subjective and no one can assure of themselves to attain such phase of their life. As this is gambling, even if you are in poker or sportsbetting, losing is always part of the game.

Individuals gambling that have family to feed shouldn't be gambling excessively and always have plans for when they don't win but loses. There should be different ways they can supply money to their family so the family doesn't starve if they depended on him to feed. Family should have both parents helping out and not depending on only the husband as they'll make him to be stressed to always provide. The husband is meant to be the provider but the wife can help him sometimes and the family will be in unity not minding if the husband can't provide for the time as he's having shortage of money. No man should be gambling as the only way to provide for his family.

It is by no means advisable to gamble when you are using your money for you or your family's basic needs. In today's generation, most parents are already working as they need to get decent income to help their family survive. I believe, the traditional way of being the husband is the only one making money in the family has long been gone. As much as possible, not only parents as well as other members of the family are now helping each other to cover at least their basic expenses as a family.
hero member
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As wiki says, wealth redistribution is from some people to others and in this case the wealth is redistributed from the losers in gambling to the gambling winners and the casino site owners.
In a way it does fall into the category of wealth redistribution as the money if flowing some people to others.
We don't need to analyse the exact numbers anyway right.

however in a business that will continue to experience turnover. no exception in the gambling business. many people will say the biggest profit will be held by the casino. but the wealth does not stop there. some gamblers win and there are those who lose. we will not say that the winning gamblers get money from the losing gamblers. we know the casino has enough money to operate the casino and pay its winners.
distribution of wealth I think happens in all businesses.
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We couldn't control that state of the person during the gambling moments specially when there's an influence of alcohol and other substances that's unavoidable. However, that depend on the person who has the best discipline with respect to wealth distribution. Some players do win, but for most who played without any goals with their finances; I guess that wouldn't be a smart mindset. Gambling habits wouldn't give you a good future particular to those people with families to feed.
Sometimes, controlling some one gambling especially under the influence of something is a very difficult task because they are and may not listen to you because they will be bent on getting a win and anything that isn't showing them such or isn't making them feel they are getting such is definitely going to not be something they would want to listen to at the moment because they are not in their perfect state of mind.

Talking about having a future that with gambling, its possible but it will have to depend on the gambler and their approach to the games but if they are addicted and aren't making profits enough then the chances they are goin to make a future off it becomes slim but otherwise they get a good future of it if managed well.
hero member
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Nope, I don't think it's fill the "wealth redistribution" definition because gambling only make casino and few/some people rich, while the definition of wealth redistribution is from few people to many people.

Unfortunately I can't find the correct phrase about this situation, wealth transfer isn't correct too because it's for one generation transfer it's wealth for the next generation.

Redistribution of income and wealth is the transfer of income and wealth (including physical property) from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law.[1] The term typically refers to redistribution on an economy-wide basis rather than between selected individuals.


As wiki says, wealth redistribution is from some people to others and in this case the wealth is redistributed from the losers in gambling to the gambling winners and the casino site owners.
In a way it does fall into the category of wealth redistribution as the money if flowing some people to others.
We don't need to analyse the exact numbers anyway right.
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Maybe or from some point of view your comments are correct but I can't agree with you about my decision. The amount of loss that rich people pay for gambling may be much higher than that of the poor, but sometimes rich people get Hughes amount from gambling. But these are in some way or another loss from all other gamblers. Perhaps in this sense we can call gambling a method of wealth redistribution.  But in all other respects gambling should not always be accepted as a method of redistribution.

Yes, gambling can be tagged as a source for wealth distribution, through the money generated via taxes. The Government of different nations use it to funds projects, which may be related to the rehabilitation of problem gamblers. Hence, psychiatrists, and therapists get paid for taking care of such patients. Also, from the definition of wealth distribution, the employees who are getting paid to work in the casino, are also making ends meet with those funds lost by the rich or wealthy players.

legendary
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Might be a stupid theory but hear me out on this, we have the gamblers that bet on 1 million, half of them lose, half of them win, the casinos get their 5% share, from this share they pay wages and rent and other costs, cutting the part where the casino gets the money it's that basically gamblers pay the wages of the whole staff manning those, and they also shuffle money between them.
Assuming rich people have more to lose and their share of the losses is bigger, taking into account they support with this money a ton of jobs, 70 000 in Europe alone, is this a form of wealth redistribution?
For the objectivity of such a judgment, it is necessary to have reliable (complete) information about who (conditionally rich or poor) loses how much and wins how much. That is, statistical data is needed (the casino could have it, but it is not linked to information about the financial situation of its clients, only about winnings and losses) and then it would be possible to calculate and evaluate at whose expense the redistribution of wealth occurs.

My assumption is that this redistribution of wealth (towards the casino owners) occurs not at the expense of the rich, but at the expense of the poor, and here is why. The thirst for enrichment is primarily afflicted by the poor (not the rich), which is why they often take risks and become even poorer due to losses (the fundamental basis on which the functioning of the casino is based).
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