Topic: Rich, average or poor. Who loses more? - page 5. (Read 1027 times)

To comment on the amount of money lost, I think rich people lose more in gambling because rich people always have more money to spend on gambling. For example, a millionaire may lose 100,000 units of money gambling in a single night but a poor person will lose a very small portion of this amount because they may not have that much money. In this case, considering the amount of money spent I think it is possible to say that rich people lose more money in gambling.

On the other hand, poor people generally lose more in percentage because they aim to become rich by gambling. For example, a poor person tries his/her luck many times with different gambling games with the dream of increasing a few units of money several thousand times by gambling but if a rich person is not addicted he/she gambles only for fun so the rich person doesn't lose in gambling most of the time.

In summary, I think this question is a bit open-ended and the answer may vary depending on the person's perspective.

Cause it's true. Rich people have more instances to play in casinos due to being, well, rich, so it equates to more chances of winning and equates to them winning more compared to the poor. On the other hand, the same could be said about losing though since they lose more compared to your average joe. The difference is in almost all cases, they can afford the loss. And maybe even 10x more of that with still room to spare. Unlike most low-middle-class gamblers who spend everything, including money for their basic needs.

It is true the house has an edge over the gambler be you rich or poor gambler but the bone of contention here is about  who among this two categories of gambler's wins the most when it comes to winning in gambling.

In this there are two things to consider mainly if it's in sports betting, which are: Skills and Risk.

Skills: in this aspect it doesn't matter if you are rich or poor which should determine how much you are using to gamble, what actually matters is how skilled you are in knowledge about that sport you're gambling on. You can bet with big or small money and continue to lose it if you have no skill to know how or what to bet on. So the poor can be winning more than the rich based on this skillfulness on this angle Vis-a-vis.

Risk: It is on this other aspect where risk is involved that the rich can be said to have a good chance of reducing his losses as he goes for smaller odds with less risk then increases his wager which also increases his winning amount. While the poor/average gambler has to accumulate games to have his odds increased in order that his winning amount may also be high too since he's using a small wager to gamble. And this in turn increases his risk of losing.

From the two categories as I have expatiate above if am to be sincere I'll say the poor makes more losses than the rich because the rich can also have the skill/knowledge about his particular sport he's gambling on and at same time reduce his risk by increasing his wager with smaller odds, but the poor can have the skill but won't be able to have the financial strength to increase his wager which is a handicap for him compared to the rich gambler.

In financial matters and financial management to stay in a better balance is not to get involved in any gambling even if you are rich and have a lot of money to gamble and especially if you are poor which means that losing will be a very detrimental thing because of the limited money they have so of course it will be a problem with their financial balance, on the other hand we have discussed the focal point of the difference between rich and poor people in terms of financial strength, and also of course for the problem of the risk of losing everyone whether rich or poor will still lose an unknowable amount but certainly if you are too excessive then obviously the amount of defeat will definitely be large.

Now however that is the most important thing, self-control, some limits and also by limiting expectations are things that must be maintained and applied when we are gambling, on the other hand it still cannot completely prevent you from the risk of losing but at least with it then you will not run out of a lot of money, simply put the rich can become bankrupt and the poor get poorer.

Lol, what kind of survey was that? Captain Obvious survey? I have seen such surveys also: "Fat people eat more than regular people", "Alcoholics drink more alcohol than kids".

There is a standard of measurement in gambling. It is called win (or lose) ration. Even if it is based on amount of bets placed, everyone, poor, average and poor have more or less similar win or lose rate. Math and random works for everyone the same. They all play same games under same rules.

Also "gamble the amount you can afford to loose" does apply to rich. They also have their limits. Otherwise they would be poor or average.

I believe that the rich loses more in gambling than the middle class and the poor, because they most likely bet more than the lower classes, even when they eventually wins in bets, there's high chances that they'd already lost more money than The middle class and the poor. If you take a survey of these classes of gamblers you'd find out that the rich spends far more than the others, so the rich contributes more to the GDP of the gambling industry. Besides, the term "gamble the amount you can afford to loose" does not really apply to the rich because they can afford to loose a lot of money for fun.

Financial issues need to be considered, and a comparison between rich, middle-class, and poor people, and if they don't have a lot of money but still decide to gamble. Unfortunately, poor people who don't have a lot of money can't gamble for too long because they can't allocate a lot of money to gambling because of their limited money. Meanwhile, rich people who have more money can, of course, gamble longer, and they can also increase the amount of their bets. And when they lose control of themselves in gambling, they are the ones who will lose more money in gambling. And whether rich people, middle class people, or poor people, everyone will lose more money if they can't limit their money when gambling.

The most important thing is how we can control ourselves when playing gambling so we don't experience more losses. Self-control and boundaries must always exist and be trained continuously so that we are not tempted by gambling games that can make us spend even more money. Big losses will happen to all gamblers who cannot control themselves well, and even though they are rich, they can experience the same thing as other gamblers feel.

If you are really that chasing on something like multiplier or whatever that you do have that strategy in mind, then being a rich person or someone who do have tons of funds would really be having that kind of advantage on which it would really be just that totally different into those people who are really that having that limited budget. It is really just that normal that there would be differences
comparing about the possibilities on trying out to test out some strategies because funds is really that mainly needed for you to proceed further. There are really just those people who are really that
having less money and there are ones who are really that capable on making themselves further be able to play gambling on longer durations.

It is really just that those who do have less are really that becoming that too desperate just because they do really like to mimic out into those people
who do have that bigger gambling bankroll balance.

Yes it is, and the difference in financial terms is the main focus in this issue between the rich and the poor, as you said that the rich have better financial strength which means they have the freedom in terms of allocating their money wherever they want especially in gambling. On the other hand for the problem of whether they will win more or not I think it is still unknowable, what is clear is that the rich have more experiments than the poor which means I agree that they will be closer to victory or luck, but if we look at it in terms of losing I think it's the same, meaning that the rich will also definitely experience a much bigger loss than the poor because as we know that luck can always not be known when it comes.

You have also said the same thing above that if we look at the risk of loss then the rich will also clearly have a considerable amount of defeat because they have more experiments than the poor, so still self-control and limits must still be owned whether you are poor or rich because the casino will be happier if you have financial freedom because it is also potentially a big advantage for the casino with the defeat that at any time dominates the rich.

Whether or not the amount of money used depends on the amount of money a person has or a person's income every month, for example you can only make $300 every month then use $100 dollars to gamble of course it is a large amount for you, but for those who make $30,000 every month then use $1000 is not a large amount for those who have a large income.

So I think this affects whether you are rich or poor, people who use small odds relatively don't get big returns, so even the rich person who uses $1000, it's not a big thing for him, but the person who sees it is a poor person, it will be declared a big win when seeing a rich person who gets a 100X win from take the bet.

Yeah that true because the lower the odds the more closer you are to win but there is some disadvantage to this because you will have to bet the game with some fucking huge amount of money and believe me when you lose because the possibility of losing too is still there as lower odds doesn't perfect the wins but just reduces the risk management, and the loses come in huge figures whereas high odds results to frequent loses due to risk involved but the amount is smaller compared to those who use high money to stake.

Yes, that's correct. That is the advantage of rich people over poor people who can use their money for many things. They can bet large amounts of money than poor people and have a chance to win more than poor people. Apart from that, rich people can also gamble more often than poor people and for longer than them so that they really enjoy the gambling games they play. But if we talk about who will lose more, perhaps it is true that rich people can lose more than poor people because rich people use more money than poor people. So it's normal to assume that rich people will lose more than anyone else.

No matter how you try to say it, the rich have more advantage of wining than the poor. It is noted that the poor always stake Little amount of money with higher odd and the rich stake bigger amount with less odd and that  will make them have more advantage over the poor and nothing more than that. That's just the truth.

You have posited a fantastic deduction.
Everybody wins and everybody looses. I stand to be put aright when I say that we have more people who fall in to the category of being economically disadvantaged who lose more at gambling than those who are economically at advantaged. The former gamble more, gamble frequently, and are more likely to destroy their career and their finances and other aspects of their lives but the people in the latter group have a robust background that even when they lose it less than a percentage of their income and their lives and livelihood are still going to be intact.

Yes, because rich people spend more money on gambling, in contrast to poor people who gamble with enough money. However, we need to know that basically rich people and poor people have the same opportunities as I said in the previous post, rich people get more wins but I think is a wrong perception because rich people actually experience more losses because rich people have already spent a lot of money to gamble but the winnings they get are not enough to cover all their losses so far (IMO).

Of course rich people don't gamble like poor people because their goals are different, poor people gamble to get profits that can turn them into rich people and the thoughts of poor people are like this which can make their lives even more out of controls so they think that gambling is unfair in choosing someone in achieve victory even though gambling luck itself is obtained randomly.

We talk about this all the time, but the fact is that each player is individual, and during the game he is captured by emotions so strongly that even realizing that he needs to stop, he will still press the BET button, again and again. I would like players to ask themselves: why are they doing this? What is most surprising is that many will not find the answer.

As for the poor and rich in the game, I think poor people can bet more aggressively, because many of them think that even if they lose everything, their life will not change much. I don’t want to offend poor people, but often they have a very poor education, which is why they may not understand how gambling works and may not even think about it. While the rich can look at it as a business and understand how it works, which will allow them to say "stop" more often. If you look broadly, then I would say that it depends more on the player’s temperament than whether he is poor or rich.

Have you seen people that use low odd which encourage them to use higher amount of money to gamble? That is how it is. If you use low odd, you will have more chance to win but because of the high amount of money used, a single loss would be a huge blow that will make the person to be losing than several games won. Be it rich, average or poor, anyone among them can lose more. If anyone do not want to lose in gambling, they should gamble responsibly with small amount of money that they can afford to lose.

You know the concept of Net and Gross. <sup>(It's a comparative simile, I hope you don't get confused)

https://www.diffen.com/difference/Gross_vs_Net</sup>

There is no direct correlation in social status, but from a financial point of view, and "fish" forget that bet seeks a return, which depending on its result, can be profit or loss.

So for someone who loses $1000 from her balance, it is correlative to her finances, therefore, it may be a lot for a perso in need, but for the rich it is just a number that is recorded and debited.

The investment or loss of each of the individuals cannot be measured in the individual comparison, it is an error, (fallacy), however, from the point of view of numbers, the gross investment of millionaires is much greater than that of the middle class, a gross analysis, but the net determines that according to fortune,percentage wise they lose the same. (maybe)

That is why the size of the bet is so important, but it seems little to a person to bet a dollar, when he could be betting 10% of his balance.

These types of erroneous comparisons are the same ones that any recurring, obsessive, compulsive and perhaps addicted player, and it is not the game itself which makes him lose money.

It is true that the average poor person is more affected by gambling and it is basically as a poor person to increase the possibility of luck will change them to get big opportunities, which can change their lives in an instant, especially in the lottery, although it is unlikely that they will try their luck with that kind of thing even though losing is a common habit.

I myself think that it's not that someone who uses bigger money can get more chances of winning than someone who uses smaller money but the fact of the matter is that 100x at $100 and $1000 is different.

There is no actual data that can be used as a reference to compare, so we can only assume. But as mentioned in my previous reply, rich people can get bigger wins, because they can bet bigger and for longer durations than the poor. This is the only one in my opinion that is a reference. Luck is necessary, but in terms of playing duration and winnings, rich people definitely have a greater chance of winning.