Topic: Rich or poor gambler, who should risk more? - page 17. (Read 9664 times)

In terms of behavior, it may be the same whether the gambler is rich or poor because everyone has emotions and egos that sometimes cannot be controlled so that in the end playing goes beyond the limits, making anyone addicted to gambling and taking big risks, but in terms of mindset there is a clear difference, usually rich gamblers just want to playing gambling to have fun and just looking for entertainment, there are also those who want to make money from gambling but mostly for entertainment only, things are different from poor gamblers, usually they gamble to try their luck and want to get rich quickly from gambling, even though there are not many people who are rich and successful because of gambling except doing business.

Indeed, both rich and poor gamblers have that same sentiments as they think that gambling is a quick way to earn but most of the time it turned agaisnt them, like what you said, if you can't control your emotions then better to stay away since emotions will lead you to push and to add more money in your bankroll.

I like what you mentioned that sharing your good stand with your gambling activities might trigger those people who near you who are also aiming to earn that same outcome.

Your friends cannot resist the temptation to place at least one bet. Just yesterday I watched as one of my friends decided to make the first bet on the victory of the Spanish national football team. Of course, I didn’t advise her anything so as not to interfere, but she won, because the Spaniards won the Euro 2024 Cup. I just thought that someday she would want to repeat this again, but next time the bet may not win and she will probably do it again and again until she loses. Of course, I don’t wish her such an outcome, but I just want her not to blindly believe in her chosenness over the other players, because this will punish her.

Poor players are not very different from rich ones; here it is important to understand the main idea that you don’t need to chase big money, but enjoy even small victories. Also, the most important thing is to limit losses, because if this skill is not there, then the loss will not be long in coming, and it does not matter whether it is a poor or a rich player.

For those who cannot do that, maybe it's better to just stay away from gambling. I always advise my friends not to enter gambling if they cannot afford it but because they are too envious of the videos that are coming out on social media, they still get hooked on it.
This is why I don't want to share with them the amount I won in the past months because I know they will feel that envy again and it might spark them to gamble more.
The problem is, it's honestly not easy to control emotions. You get mad when you keep on losing so you will tell yourself you will do one more deposit until it piles up and that's when you will regret what you had done. I got my share of losing streaks too and I can say I don't like being in that position.

That's actually the key to be a successful human being, in every aspect.

If you know when to stop and change your behavior then you most probably will end up with a better outcome overall.

This is also true in gambling as you mention, as most people that end up in financial ruin are the ones that can't do that basically.

You can do that if you can accepts the risks of losing your money. Playing gambling is only with the money you can afford to lose so if you have a very lean balance on your wallet and you don't minds to lose that money, you can use that money to gambling. You know the risks of playing gambling so when you lose that money, you will not be too sad and will accept your lose. That is what we must do in gambling whether we are rich or poor gamblers because gambling can takes all of our money if we are not be careful. If you know that you must limits money to gambling, you will not trying to use more money because you know the risks. We will face a big risks if we use too much money and not many people can accept the fact if they lose their money in gambling.

There have been times where I had a very lean balance on my wallet and I decided to risk it all and I lost, also a time I did risked it all and won. The days of a fat wallet balance I applied some strategy and lost and on another I did same and win so it's just a game of luck and with the casino they cannot differentiate between the risch or poor so it's left with you ro be smart about it knowing that yo can loose at any time and still win at any time either and this is Independent of your stake, not looking at how big it is, drake dis stakes big and lost while others staked small on same game and wonso ita not a matter of rich and poor but a matter of luck which can happen to any of these two persons at anytime and who takes advantage of it the most gets the best off it.

There is not much difference between a rich and a poor gambler. Because a rich gambler may have more money but his luck may not be with him and a poor gambler may have less money but luck is with him and he may own big reward and a rich gambler may lose his wealth in winning. If the poor gambler manages his gambling within his means then there is no chance of him having a gambling problem. If rich and poor gamblers gambled in proportion, then the only difference between rich and poor gamblers would be money, otherwise everything would be the same. While I favor the rich when it comes to gambling, there is no guarantee that the rich can lose more from gambling than the poor. And when the gambling is managed keeping the ratio perfectly then the amount of risk will be equal as the ratio.

It's a poor mentality and illogical to used financial status to gamble. If a poor person earn $100 a weekly and a rich person earn $10,000 a week, when the poor person gamble with $5 for a week# you don't expect some who earn 100 times of the poor person to used $5 dollar to gamble, it will definitely be above what poor person earn because we all have our spending limit and the amount we can afford to lose confidently without feeling any remorse about it.

Most often, rich men also gamble for fun more than the poor and this is not just a statement but a fact. Even if you judge by the people who spent more time gambling, if you count 10 people in a casino, 9 of them are going to be some average looking gambler and one will be a rich person and not rich from gambling but from other things outside gambling, you don't see them coming to gambling to double their last balance, it's rare. So it doesn't make any sense to use financial status for comparison.

Gambling could be very dangerous for both and it can lead them to being an addicted but indeed because rich people has good source of income they have more money when they want to starting gambling than poor people and usually rich people will not too worried about their loses because they can come back tomorrow after their loses without worrying about their results in gambling and i more considers this habit as a hobbies but indeed this is also not good because if rich people doing a lot of gambling then eventually they can became an addicted too
And for poor people usually they have limited source of income even mostly poor people is very difficult to fulfill their daily needs because they don't have much money and if they still insist want to gamble then it became an very risky for them and i have been witnesses that there was poor people in my neighborhood who always be insist want to gamble and because they don't have any money then they starting to loan money but this is the wrong step for them because of their habits currently those people a lot of debts to pay

There are many rich people who gamble for fun so you can't compare poor people with them even if you want to. But gambling is dangerous for those who don't have enough money in their pocket to manage their life so i think poor people should not take too much risk in gambling. But there are many poor people who are drunk and bet big money because of the addiction of getting rich but there are very few people who can win this bet and become rich. Also we can't change luck ourselves but in my opinion when you lose repeatedly after trying a few times it's best to stop gambling. A rich man has a high percentage of money so he can bet again even after losing repeatedly and has enough money in his bank for that.

thinking about strategyu and pattern makes sense when it comes to games that have a skill component
most of the pure luck games will only have a component of skill and bankroll management but not much left after that

what do you think would be a strategy for games that have no skill components?

To be honest, I find it quite difficult to understand your idea in the first paragraph about the chance of losing. What do you mean by the first option, the losses experienced by gamblers, namely as a result of them applying the wrong pattern or strategy in gambling? Meanwhile, from the start it was clear that there was no method or strategy that could ensure someone's victory in an activity (gambling) that depended on luck. Or do you mean by the second option that it is a strategy that leads to prevention, in the sense that a gambler can save more money when reducing the amount of his bet so he can gamble longer? I hope you can add a few words to clarify it, but maybe I will draw the conclusion by thinking positively and rationally that it seems like you are saying something that leads to prevention like the second option I said.

In that sense it is a strategy that can save more money but increases our time or gambling sessions become longer due to the action of reducing the number of bets, but actually even though reducing the number of bets is a good idea but that doesn't mean it will always make the gambling session last longer because of course This is an activity that depends on luck, in the sense that if during some of these sessions luck really doesn't come then they will also be able to spend time faster. Other things I quite agree with you especially about the differences between poor and rich gamblers.

I don't wants to takes a loan for playing gambling because I knows the risks behinds taking a loan. I may takes a loan if I have an urgent needs while I don't have money to covers that but I will not use it for playing gambling. That will be a stupid thing for me if I do that because I will gets in trouble and I also difficult to repay the money.

Gambling should be for have fun and I agree with you because playing gambling should not use too much money. We will have a big chance to lose that money than to wins some money. We can imagine if we lose all of the money we have and we will difficult to fills our daily needs. That will makes us in a big trouble because our daily needs is more important than just playing gambling. Rich and poor gamblers must not gets a big risks of losing their money in gambling but trying to manages the risks not becomes bigger. That's why we must manages our money and always remember that playing gambling is just for entertaining.

The chances of losing also relies totally on the gambler's wagering pattern. In the sense that, if a low income gambler decides to lower the amount of money he wagers he could spend lots of time gambling just like another person who follows such strategy would. Looking at your perspective, it's clear that the rich spend more time gambling because of how much they've got on their bankroll. Which hardly gets finished.

But, if a rich gambler decides to wager all the money in his bankroll in just two spins he could do that. If the number of losses as you said is based on amount of money, then the rich players definitely losses lots of money than the poor. And their wins is no where to be compared to that of the poor gamblers. Although the low income gamblers actually make some incredible wins that could amount to what the rich gamblers also expect.

Yes, it means that implementing restrictions that lead to prevention applies to all gamblers regardless of whether they are rich or poor, because as you said, there is no difference in terms of the chances of winning and the possibility of losing for poor or rich gamblers, simply whoever you are, rich or poor, you can lose. all your money in a short time if you treat gambling in a way that is not recommended or that tends to be excessive without applying any restrictions.

And in this case I only see one difference between the two gamblers, the difference is only in terms of the number of wins and losses they experience, in the sense that if a rich person wins or loses, the number of wins and losses will definitely be greater than that of a poor person, because there are differences in terms of the allocation of the budget amount at stake, and vice versa. Another thing and the point is that as you said, the chances of winning and the chances of losing apply to everyone, therefore we do not exclude poor gamblers or rich gamblers when it comes to implementing various forms of action that lead to limits for long-term safety.

Yes, the conclusion is that everyone gambler, whether rich or poor, they should only gamble according to their pocket size and to the amount they can comfortably lose without having some psychological issues due to too much thinking about their lose. If you want to stake $1k like you said and that's your only net worth, it's not a wise decision, some people are richer than that amount and so they can stake any amount that they can lose comfortably. Gamblers should just stake the amount they can lose.

Gambling and feeling anxious, afraid of losing, or being overly disappointed and angry when one loses a bet, is a clear sign that one is betting or staking amounts of money he or she is not comfortable losing, and that is really a bad and risky way to gamble.

Over time, we have been made to understand that vanning is not a way of making money, people who need money should either look and get a job, or consider starting their own business, gambling should always be treated as a fun venture, but if one must try to make money from gambling-which is not wrong actually, then the gambler must take gambling as a secondary source of income which must not be depended on.
This is one of the best ways to really enjoy gambling, together with always making sure we are not staking more than what we can afford to lose.

Some people who are unable to measure their financial and money capabilities will always have difficulties when they lose from gambling, but those who often gamble and never have difficulties in life after losing from gambling are people who are truly aware of the abilities they have when gambling. So if you see people who immediately panic and easily feel difficulties when they lose from gambling, they are people who are completely unaware of the abilities they have but still persist in gambling.

Some gamblers don't think to this end, no matter how good a gambler think he or she is, they can never over smart the bookies, we are only advise to borrow to invest in profitable business not a kind of uncertain activity that's is capable of ruining an individual financial capability forever, for me once your money is involved in gambling your loss expectations should be higher than the profit side because, no matter how you think you know the game, the final whistle seal it all and know that know one can vividly predict the outcome of any game, what we all do is assumption that may end up being right or wrong that's just it.
People chase what is not obtainable and I attribute this to greed and addiction, know one predicts tomorrow except God, so for people to believe that they can predict very well in gambling, that's to say that such person wants to make us believe that he or she shares the same qualities with God.
Gambling is strictly gambling once money is involved, as for the entertainment side, gambling can only be entertainment once money is not involved, because anything that's emotionally attached can never be an intertainment for me.
It is very difficult for gamblers to learn from losses as you said instead losing and winning respectively triggers individual gambling more unless such individual is deciplined to manage such situation.