Topic: Rich or poor gambler, who should risk more? (Read 9664 times)

Card games are most manipulative in configuration and for that if you are playing that game you have to be ready to lose your money at more higher rate compared to other games, so Lucky fly is most right to say that when playing card games, we should have Zero expectations of winning, because that is the only way to mentain a sound emotions that could help in noising the loses when it happens, because gambling regardless of the financial class of the gambler be it rich or poor, the fact still remains that you have to lose twice before you win once and this is what is mostly achievable with most games of the gambling site including even sports bets, so it is important for the gambler to build such mentality of losing being constant more that winning and once such mentality is established, the rest become simple to handle at all time, but by the time when the gambler have so much winning expectations, when the loses become the evident and unavaoidable it is by the that you will be frustrated because of your expectations to win.

But by the time, you never considered gambling as means of winning at all time and seeing it as a service provider that we can just enjoy the games and regardless of the the outcome we still be ok with results and not gambling all with the aim of winning money, you already deviated to from the original source.

Because by the time you can control how you feel to lose in gambling, regardless if you become reach or poor average guys, whatever your reality becomes with gambling is then understandable and manageable.

Both the rich and the poor can suffer financially when it comes to gambling. It is not initially right to differentiate between rich and poor here. In fact, the main thing depends on the amount of his money. Now if a rich person has 2 crore rupees or 2 crore rupees in wealth now if he gambles 1 crore rupees then either his wealth will double or he will lose half of his wealth out of his entire wealth. Moreover, if a poor person who has only one lakh rupees spends his entire money on gambling, his money will be doubled or he will lose his entire wealth. So the key here is exactly what percentage or fraction of your wealth you are spending on gambling. Now if you want you can spend a very small amount like two to five percent of your total money in prayer every week. But if more amount is done then it will slowly start decreasing instead of increasing your wealth in most cases. The key here is that brothers rich and poor must balance their wealth otherwise there is a possibility of loss in both cases.

Right, and that reminds me of the difference in perspective on money between rich and poor people, risk management like self-acceptance regarding the amount of money lost is quite dependent on whether they get it quite easily or very hard like for example poor people who have to sacrifice a month to get $100 from something they have worked for while rich people only spend a day or maybe a few hours to get it.

But on the other hand I would say that don't think or assume that other people have lost a lot more money than you, because as you said money has a different value for each person, meaning make sure that you only risk an amount of money that is not beyond your ability to lose.

Of course, seeing the casino as a place to entertain ourselves and our bets as payment made will help a lot because you will not be more focused on making profit and you will accept the outcome of your bet without wrong thoughts. Luck in gambling cannot be invoked because it not of our own power and that is why one cannot win most times but once in a while.

The profit in gambling is what changes one mindset from seeing gambling as a service, rather they see it as a place to make a fortune and that is why most gamblers cannot stop playing when they are winning or losing because they want to make profit by all means.

Well, as players, we must see things in the Positive sense of the word, and in order to not regret what you say, that even if we lose , it is not nice to lose , but in order not to see it that way, we must see the casino, the cards games as a service, where we give money , what we are Willing to give for our own entertainmen , and there is the Possibility that this money can be multiplied. If you see it that way, I think it is possible to do things better.

Yeah, if they overexceed from their limits for sure it cause a bleeds, there's always regret on both sides once they cross the line and exceed from what suppose amount that they can afford to lose, but again, with rich gamblers who knows their limitation, they alway have other resources where they can recover the money they've loss, while with poor gamblers, they just hope and wish for luck, else they will skip meals and will try again once they've got something to use as bankroll and just repeat the cycle till they win and manage to withdraw.

comparing which one takes a greater risk between these two statements does seem difficult because it may be more directed at each individual. when rich people who have a lot of money can be said to be free to bet but if they have a good perception and a good mindset in gambling then maybe they will not take big risks, and for the poor with limited financial circumstances if their mindset is not good with such as fully expecting gambling they can take bigger risks and vice versa. I agree with you, indeed this is a fairly wrong view because what makes more sense is that it depends on each person's abilities and also their mindset because everyone certainly has a different mindset even though there may be similarities about the mindset in gambling such as expecting victory, anyone who gambles can have the hope of wanting to win.

We all have different level or class and e everyone knows there class and how much they could risk when it comes to gambling. I think  a person who is very curious to win bets could even risk more compared to someone that just want to gamble for fun. It is good we gamble for fun but it is wise for us to know what we are doing so that we can be making consistent profits from gambling. Those that are ready to risk more might tend to earn more from gambling, although this does not happen often. Gambling is supposed to be for thise that understand the system and know how much they could risk everytime they want to try their luck in gambling.

This way, you will be so wrong to think that the rich are the only ones who can endure a gambling limit and recover later, the poor can as well, all that matters is for them not to cross the red line that will pain them so much. If it's still limited to the normal gambling risk that they can cover up for with other means of income, then it's nothing, but surely, this is not peculiar to the rich, both only have different limits in this regard where the rich might be able to risk more money than the poor, but the limit at which they can go can still be defined by their worth and affordability to lose. Everybody has this limit where losses will hurt, only that it could only be higher in terms of amount for the rich than the poor, but the rich also cry if they get to their limit.

Gambling as a hobby requires a balance between enjoyment and financial consumption. Set limits on the amount of money you can play should be set and adhered to, bearing in mind that gambling is not a way to make money. You should also choose games with clear and well understood rules, and avoid gambling when you are emotionally involved or under pressure. It is also important to review your gambling behaviors periodically to ensure that they are not negatively affecting your daily life. Balancing enjoyment and responsibility is the key to success when gambling as a hobby.

Of course, this remains purely theoretical, because its application is not easy at all, and I am almost convinced that no one has succeeded in actually applying it. The issue requires the individual to consciously analyze and objectively study his behaviors and psychological reactions because it is not always possible to control emotions and control reactions resulting from feelings.

In essence, rich and poor  have their own risks, just like you experienced about $100 being a lot of money. Thus, even if you have a background of being rich or poor, but when you spend that much money to bet and say it is big  money,then it is also a big risk for you regardless of being poor or rich. Therefore, I do not agree if it is assumed that rich gamblers take a bigger risk  because for me,  it depends on the ability of each gambler as well as how much they can do to bet,then it will also be a risk for them.

Exactly, that's right and I've also said that in several previous posts where if we want to know whether the gambler is a responsible gambler or not then we can see the answer from the reaction that comes from within him when he experiences defeat, we can see whether they are responsible gamblers or losers. This means that it is not too difficult to investigate how the typical gambler we want to know is, because by looking at that part alone at least we will know the answer.

Basically, defeat is always part of the game, this is the main thing that must be emphasized and understood by a gambler, because when you understand and know this then you will most likely prefer to focus on preparing various things that lead to the following prevention aspects also by managing and maintaining discipline that is balanced with your ability in terms of accepting risk. I like your second paragraph, my friend, it is a fact related to how a loser is when in a losing situation.

Being broke is about your damned mindset more than it is about the money. It's about seeing dead ends instead of opportunities. Gambling is the game of a sucker. It's a trap door into a deeper hole, not a ladder outta poverty. Forget fast ways to earn money. Acquire a skill; improve daily with daily application. The actual road towards financial freedom is that one. Though it takes time and grit as well, it's the only approach to stop the cycle

To me, gambling's not the devil. Little flutter here and there for enjoyment is okay. You are screwed, though, when it becomes your financial strategy. It's about control. You can enjoy yourself free of future bets. Living affluent and simply fantasizing about it vary in that way.

The most important thing I want to emphasize is that one of the worst things that can happen to a poor person is to become addicted to gambling. Even if he succeeds in making small profits, the risk remains high especially when using money that we can't afford to lose.

Gambling remains a high risky activity, especially for people who suffer a long financial pressure. When someone is poor, he is often exposed to daily financial challenge, which makes them more likely to think of gambling as a quick way to treat with his financial problems. But gambling is nothing more than a misleading path, as bets would surely lead to the loss of what is left of savings, and the person gets involved in accumulating debts, which further complicate his economic conditions.

Therefore, instead of looking for short-term solutions such as gambling, the poor should focus on improving their skills and earning money in ethical and sustainable ways. Gambling is a trap that can turn hope into despair especially with poor people.

Being responsible means that you're aware of what you're taking, coming from the risk, the amount you're betting on, and your priorities. No one can escape the pain of losing either rich or poor but how you absorb it will have a different impact for each of them.

Yeah, the adjustment that both of these status will still have the same pattern on how we'd bet but the difference is about the amount and the recovery period whenever we lose.

When it comes to loss, one discovers the actual character of a person. Winners? Everyone loves a winner. Still, losers? Character displays then come in handy. A smart gambler knows that losing is a feature of the game. Its about discipline not about luck. Its about learning your constraints and playing within them.

Now, some people cant handle losing. They pursue their losses, they become enraged, they start blaming others. That is terrible for their souls as much as for their pockets. A true winner understands how to gracefully fall. They grow from their errors and return more potent. We have to promote sensible gambling. Its about educating people to respect the game, not about forbading enjoyment. Its about knowing the chances and wise decisions.

If gambling is worth risk taking, I think no one is exempted to gamble but with the look of things majorly depending on the looses that has overpowered the wins I think it's not best taking such risk because taking such decisions will just amount to one turning into an addicted gambler which is not suitable.

But trying to choose between the poor and the rich who should take such risks in gambling I think no one should, often times the poor gambler in search of money and livelihood will find himself gambling with the little funds he's having not minding that that risk is quite risky lol, And to be realistic the rich gambler shouldn't take such risk as well. I know that few rich gambler's I know have don't mind taking the risk provided they have the money to spend on gambling.
So no one is advisable to take such huge risk be it poor and rich cause it's always detrimental to the the person.

Yeah, that's true. A poor man might have $10 to gamble but he will take care of it so that it won't be wasted instantly. He will try to be careful with his bets so that he can play more.
The same goes with a rich gambler. If he has a million dollars as his budget, I doubt he will bet all that. He will probably just go for $100 - $1000 per bet but he won't go as far as putting it in one shot.
Both will feel the loss if their risk goes wrong and both will get frustrated if they lose. It's not like the rich will keep their riches if they gamble a lot. That money will start to run out if he keeps that kind of betting amount.

Yes, it does not mean that when you become a responsible gambler as suggested by many people then you will be free from the risk of losing, not like that, because no matter how good your approach to gambling is, the risk is still a possibility that will definitely befall you and all gamblers at certain times, but one of the reasons why we are always advised to be responsible gamblers is because when we realize the risk then we will not feel too emotional or regretful when defeat occurs, and another benefit is that we are also likely to avoid various impulsive actions and decisions, because usually it is always triggered by dominant emotions. And also yes, life status such as whether you are rich or poor, the feeling of discomfort over defeat will definitely be felt but it will not be too deep when you are a responsible gambler. So whoever you are, only you know what is best for you.

I hear that statement so often, and at first it made sense for me, but now I have doubts about that, because I think that there is no amount if money someone is willing to lose.. Nobody want to lose money, especially in a few seconds just by losing in a casino game. The reason why people bet relatively high amount of money is not that those money is nothing for them, no.

In my opinion, they act like that because they are blinded by the possibility of a potentially huge win. In many threads I come across the idea that gambling regulars are not interested in winning x2, x5 or even x10. They are aiming for x1000 and more, and are ready to lose until they become lucky enough to catch such xxx. Based on that, making x1000 on $10 or on $100 is a huge difference. And if a gambler is aiming for a large percentage of winning, he will also risk a large deposit so that the absolute numbers of winning are worth all those unsuccessful attempts that were made before.