Topic: Rich, average or poor. Who loses more? - page 4. (Read 1027 times)

What about their approach to gambling?
If the rich are not too close to gambling maybe they will not gamble using high amounts, but on the contrary what about poor people who are very close to gambling which can be said to be addicts or addicted even though they don't gamble with high amounts of money but they might deposit their money more often because they are very close to gambling as well as their addiction that makes them continue to push to gamble.

I think this depends on how close the person is to gambling, no matter if they are rich or poor, if they are both very close to gambling then the possibility of both can be said to be a loss, and the one who profits is still the host. because among the poor and rich in my opinion there are people who can still control themselves in gambling, whether they are rich or poor so in my opinion this depends on how close they are to gambling itself. And what I know is that usually rich people gamble by still having limits,  even poor people who do gambling they tend to chase victory because they want to get a big win that can change their lives. but when rich people lose maybe they won't mind it and tend not to deposit again on that day, maybe on another day. but with poor people they can be upset about the defeat they get so they get upset and tend to take actions that are at great risk.

This reminded me of the gambler who had lost $1.4 million in a single bet with 1.01x odds. The story of him was posted on this forum a few months ago. What we learn from such stories is that there are no guaranteed wins in gambling, and you should only take calculated risks and should never risk what you can't afford to lose. Now who knows? He might be a millionaire or even a billionaire who wasn't bothered by that loss, but it might have been a person who had spent his life savings on that bet thinking he would get a handsome amount as profit, and then stop immediately after that.

This is why, one should only use the money that they can afford to lose in gambling no matter how low the odds are that they are betting because the odds don't guarantee that you will win, they only tell you the chances of your winning and losing the bet, and even 0.5% chances of losing is enough to make you lose sometimes.

Actually, rich people gamble rarely than poor people, which makes $10,000 vs $1,000 lost bet example not appropriate. I am 1000% that majority of those who gamble, gamble to get money, and minority just for fun. Rich person would gamble once a quarter, while poor person will gamble weekly. It is impossible to tell who loses more. OP should have formulated question more correctly. Because so many things influence on the result. How many bets are made, amount of average bet.

Btw many here have missed one part - they mistakenly think that rich people dont love money. People think that for rich person loosing 10k is nothing. People think that rich people have infinitive amount of money. If rich person looses large amount, he would smart enough not to return to gambling. Nobody loves to lose. So that statistics of who loses more should be corrected with "rich people dont return after a loss", but poor people do. Which makes it complicated to calculate who loses more answer OP question.

Let us put into this situation...
There is a rich person who gambles $10,000 while there is a poor person who just gambles $1,000. Let us assume if they all had lost their bets, who do you think had lost a lot? It is the rich person, right?

Rich people can gamble more without worrying whether they lose or not but poor people can't, they are pursuing to win and chasing their losses. That is why these poor people are usually seen gambling because they can't afford to lose, yet they are just spending a small amount which is still small compared to rich people who gamble once a week with the amount of $10,000. How much more if they are gambling every day?

The calculation is that rich gamblers do lose more because the stakes are high, but most of them only gamble at certain times, in contrast to poor gamblers, usually when they lose they will continue to play again and again until they spend a lot of money and even borrow money from loan sharks, even though the money will run out again, they will come back tomorrow with the rest of the money they get which will be used for gambling.

The mindset of poor people is much more dangerous when playing gambling. They know how to get big profits from gambling, but they don't get it, instead they experience losses and losses which result in them continuing to be curious, trying to try to recover all the losses they experienced and continuing to chase them, continuously. In the long term, poor gamblers also lose a lot compared to rich gamblers who only lose once a week. it all depends on your mindset

The poor loses more based on my observations and from what I've read in all the other replies, it does make sense that poor people are having the biggest losses because they already have a small amount of money so I don't think that it's going to be a insignificant for them to spend that money in gambling, remember that they're poor and that money that they need is something that they could've used for something other than gambling, they could've used that money to buy more food for themselves so they can survive the day a bit better than usual unlike with the rich where it's probably nothing to them to spend that money in gambling. When it comes to average though, I'm going to say that they're going to have the same loss as the poor but the catch is that they have to become addicted to be able to experience the same loss as a poor gambler.

By simple logic, if you enter a casino, the poor person, if he is not lucky enough to win, loses more than a rich person, that is obvious and that is something that has no discussion at all, if we go to the towns it is So, why? Maybe a rich man spends a lot of money, and it can be seen that he loses more than the poor man, that is noticeable, but if we look at it, the rich man earns a lot, but he has all his comforts and can still buy everything he wants. , but if the poor person spends more than he is allowed to lose, then he has lost more, because he possibly does without many things for himself and his family, then for whatever reason more is lost in the poor person due to his abilities, this is something You see yourself alone there, as I said before, a person may not mind losing a lot, whatever is necessary for that person, but things do get complicated for a poor person when they lose more if they are hoping to have some chance. .

So when we make any type of comparison this will give this reutlado, we do not go by the amounts that are spent, because each person due to their ability things are equivalent, only because the person who is poor will always end up worse off than someone who has money, because someone who has money, sometimes they don't even know what to spend it on, because they have so much that everything bores them, and if they lose in a casino, they don't care, a person doesn't care because they have to keep trying as best they can. recover that money, and don't let it occur to you to recover that money or try to recover it only by playing, because it is the worst thing you can do, so because of this we must be very emphatic, and have all the subtlety in saying, that a person who has A lot of money will always have the ability to do everything, just everything to do the things you want, even for any need. A person who has money will be above anyone else, because money solves almost everything.

You right, it doesn't matter whether people are rich or poor, they have their own budget that they can lose and win when gambling.
Of course rich gamblers can lose more and can win more if they are lucky, and vice versa for poor gamblers.
They have maximum limits which will really affect financial stability when they lose large amounts and of course in terms of the way they gamble, the two have more striking differences.
These differences come from how they gamble, how they spend money to gamble and of course their emotions will also be different.

Not all of them will be like that because there are quite few rich people who come to casinos to gamble with the aim of making more money with the capital they use which is quite large too.
Rich people gamble not entirely for fun but to gain sympathy or admiration from other gamblers when they win large amounts.
And what you said is more like their business being investors in casinos or gambling sites to make money, but people like this can still regret it if they lose excessive amounts.
It is important to remember that not all rich people will be able to accept all their losses in gambling.

If someone is already rich, they won't make more money using this unethical strategy. It mostly an influencer who make more from social medias, so they both partnered each other, the casino give money to the influencer and the influencer promoting the casino using fake money.

This promotion isn't a low cost advertisement since the influencer is risking his reputation.

Very well said, mate! Everyone can lose big amount but it depends to the situation of a person, even those rich people are experiencing losses but it doesn't affect much their bankroll because they can deposit or withdraw anytime at any amount they want because they have a stable source of money unlike mid- poor people that if they lose bigger amount, it will become a nightmare for them because possible that's all the money that they have and if they lose it in gambling, it can lead to severe financial problem to them.

In the mindset of rich people, they spend money on gambling just to have fun. if they make a profit I think they have cooperation with that casino place to make a profit. If this happens, will it apply to the average or even poor? of course not. because in this case the possibility for the owner of this casino is the benefit of spending a little money to make people who are already rich show off their wealth from gambling as the gambling place gets advertising at low cost. who loses? of course those who don't have a business deal with the casino owner.

In my opinion, it doesn't matter if the gambler is rich or poor, for me what matters is how substantial a win or loss is to a gambler. A rich gambler can lose up to $10,000 in a bet and it doesn't affect his over all financial status, while on the other hand a poor gambler can lose $1,000 which can be his whole life savings. But obviously if we are going to look at the house's perspective they'll be more than happy to have a rich gambler playing since it will contribute more income to them.

       -   If we look carefully at the literal side of the two between the rich and the poor, we know that of those two, it is significant that the rich gamblers bet more compared to the poor, so obviously the amount is larger and the rich lose more than the poor because the poor gambler appreciates each and every one of their gambling bets.

There is also no discussion about who often loses because the rich and the poor lose equally in this type of gambling business. Then it's rare for the rich to get a jackpot in a casino, as far as I know.

The rich win more than the poo and the poor lose more than the rich.
This is because the poor always accumulate so many games in other to have more potential wins we all know the higher the odds, the higher the wins and the higher the bonus so that is what the poor pursue. They want to win a million dollars out of a one-dollar bet.
But the rich don't want that. The rich want to win ten thousand dollars on a thousand-dollar bet. So they go with lower odds

Now in the case of the odds. In sports, higher odds mean higher risk and lower odds mean lower risk.
The rich stake higher on lower odds so they get more wins.

And we can conclude that people who have the possibility or potential to lose a lot of money are those rich people who cannot maintain their gambling involvement properly so that it is clear to lose a lot of money that can even make them bankrupt, yes that's right it is not uncommon to also see some of them who act excessively with the excuse of looking for more fun haha obviously absurd and what is certain is that victory is their main focus so that they act excessively. The inability to accept the real facts (defeat) caused by not understanding the basic concepts that exist in gambling makes them instead act out of control by always chasing wins to break even, will it work? maybe it can, but it is very unlikely and more cannot stand all the pressure that is there so it is not uncommon to see some of the gamblers who end up stressed or depressed.

So from the discussion that we have discussed here, to be honest, in my opinion, the conclusion is that rich, middle class or poor cannot be used as a benchmark for who wins more and who loses more, and the point is that if you overdo it then obviously you will lose more and if you are able to maintain your gambling by always applying self-control and limits as you mentioned then obviously the amount of risk will be slightly minimized.

Or, poor can place big bets if he seeks for getting maximum over short time, while rich gambles with small bets just to kill time. This is so individual, so it is impossible to really tell who loses more. The difference between those 3 groups of people is how they accept their loses. Rich might show little care about it, average would be worried for a period of time and probably wont gamble anymore, poor would either completely stop gambling, or will act wild.

This topic is very funny,the question on who loses more isn't too important to me,but if we are to put into consideration,who loses more is the rich because the amount of money he places on each of those games he stakes on can be the amount the poor or average person uses to stake on games in a month or two or probably three.This means that the rich stakes higher amount on gamble,while the poor stake according to their ability,which is a lesser amount.But because the rich stakes huge money,he only finds few games and stake on,while the poor accumulates odds and stakes on much games  which end up cutting Everytime.So in that case,we can say the rich loses more money,and at thesame time wins more money than the poor,while the poor loses most of the times than the rich because he stakes on plenty games.

That is why those who gamble with a lot of money are likely to experience more losses than those who can limit their gambling activities because they want to chase wins or under the pretext of wanting to get more pleasure. They don't think about reducing the amount of money, especially when they have experienced a lot of losses, but instead increase the amount of money even more. They, whether rich or poor, only see the chance of winning they can get from gambling, which attracts them to gamble longer. By increasing the amount of money, they also increase the risk of losing it even more and when they gamble excessively, they must be prepared for future losses rather than winning.

However, if they can limit their gambling activities and control themselves well while gambling, they will know that when gambling, they must always try to avoid losing. Many people have experienced a lot of defeat so we really have to be able to avoid it and don't have to experience the same thing as them.

Yes, probably better health, food, education throughout life affects the rich better. The rich have better starting skills and therefore will be slightly ahead in any case, unless luck decides otherwise. But one thought haunts me: there are poor people whose desire to self-realize and win at any cost is higher than everything else. They are hungry for victories, they have a keen sense of every little thing. I wouldn't want to play against such players in poker, for example. I have seen such people become professionals, but before that they were nothing. So they win over the rich, this redistributes wealth)

For you maybe, it may not matter but for the OP, I think it is, because why he will ask this in the first place? Indeed losses are inevitable, not only in gambling and anyone can get affected by it. But, rich people can easily cope up or recover because they still have lots of money left in their bank.

Another thing that can make us lose and lose more, is if we don't know the game that we are playing, as some of them requires a bit of knowledge or skill. To have an understanding about them does not depend on our financial status, but again, I think many rich people are intelligent. This is because they can eat the best foods which can contribute better in the mind, and they can go into the best school, etc.