Rich or poor gambler, who should risk more? - page 23.

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Quote from: nullama on June 19, 2024, 12:14:29 PM

Quote from: JahriMeayer on June 17, 2024, 06:55:18 PM

Nobody should risk more. Actually it's depends on mentality. Many poor people want to change their luck by win big in gambling and lost everything. Similarly i read lots of article Where are found that many Millionaire turned into bankruptcy in casinos. So it depends on mentality, how should you manage your money. But I think most of the time poor people do gambling than rich people. As a rich people are already rich, they own multiple assets, that's why if they loss in gambling, they would recovery their money from another source or they can lead their like without problem. But if poor people lost their money, it'll be hard for them. It'll directly effect on their economical life and their their livelihood who will cause suffer in long run. Cause gambling is always risky so poor should avoid gambling and rather they should Focus on building their wealth

Yeah, but really for rich and poor it is the same. If you go all in, you will risk all your money, independent if you have $1 or $1M. It's all in.

So, in a way, they can be the same.

And also the odds are the same for both of them anyway.

Of course, if we talk about gambling then there will be no difference between rich and poor people in terms of opportunities, it is difficult to explain it in detail, but what is certain is that everyone has their own lucky times that can lead them to victory, rich and poor people still can win, but perhaps by a different amount.

But still the problem of who will win more often between rich and poor will never be known, the reason is clear because luck is something that can never be controlled which will only come by chance without you knowing, meaning there is no element consistency in terms of achieving victory.

Simply put, whoever you are, rich or poor, you have the opportunity to win, but you also have the possibility to lose, the only difference between the two people is in terms of the amount of winnings because it is clear that rich people bet bigger amounts than other people. poor, but we must understand that rich people can also experience far greater losses than poor people.

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Quote from: BITCOIN4X on June 19, 2024, 01:06:39 PM

Quote from: Lucasgabd on June 19, 2024, 11:10:56 AM

Quote from: maydna on June 18, 2024, 07:40:47 AM

~Snip

you have to be obsessed about risk
risk management is everything, really important stuff
gambling can take all you have, if you don't take care it's a really sad situation
you know what I mean?

many people don't consider it and imo it is so basic.

The average gambler understands the risks, but many of them fail to handle the risks well. Who is not aware that gambling can make you lose, but interest and greed have made most gamblers ignore this risk. There's something wrong about them, of course, and they're basically very hard to avoid once you're addicted.

In gambling, it doesn't take you long to spend millions of dollars in your account, in fact it can all be gone in a matter of minutes. So I can conclude that, all gamblers know and are aware of the risks, but they fail to implement and consider limiting themselves from greed.

The moment one fails to understand the risk in gamble, that's the beginning of loses, if the person have been losing all day long the losing rate increases by 2 or 3%. One who is rich might not understand what lose can cause untill he lose everything in bets. Few gamblers who have gambled with all their salaries and savings can testify a little about their experience in avoiding to know the importance of risking management and a responsible gambling life. Greediness makes average gamblers case their lose because they don't have much money.

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Quote from: Lucasgabd on June 19, 2024, 11:10:56 AM

Quote from: maydna on June 18, 2024, 07:40:47 AM

~Snip

you have to be obsessed about risk
risk management is everything, really important stuff
gambling can take all you have, if you don't take care it's a really sad situation
you know what I mean?

many people don't consider it and imo it is so basic.

The average gambler understands the risks, but many of them fail to handle the risks well. Who is not aware that gambling can make you lose, but interest and greed have made most gamblers ignore this risk. There's something wrong about them, of course, and they're basically very hard to avoid once you're addicted.

In gambling, it doesn't take you long to spend millions of dollars in your account, in fact it can all be gone in a matter of minutes. So I can conclude that, all gamblers know and are aware of the risks, but they fail to implement and consider limiting themselves from greed.

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Quote from: Lucasgabd on June 19, 2024, 11:10:56 AM

Quote from: maydna on June 18, 2024, 07:40:47 AM

~snip~

you have to be obsessed about risk
risk management is everything, really important stuff
gambling can take all you have, if you don't take care it's a really sad situation
you know what I mean?

many people don't consider it and imo it is so basic.

We don't have to be obsessed about risks but we must controls or manage the risks. With that, we can reduce the high risks that can occurs, especially when we use too much money for gambling. No matters if we are rich or poor gambler, managing the risks is a must. We can't lets the risks bigger because that can makes us lose much money and even we can bankrupt in shortly.

We must be careful when gambling and don't have to risks more because that is not worth for us. However, we should become a wise gambler that can manage the risks so we can enjoy playing gambling without having too worry with the lose because we can prevents the big lose.

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Quote from: Hispo on June 19, 2024, 11:47:36 AM

Funny thing about risk management is how basic and common is in our daily life, that people do not even realize they all do risk management each day with each choice they take. Risk management is not only about trading or gambling only. It can be also applied to driving, food, actions taken at one's work place... etc. It just happens to be more explicit in casinos and exchanges.

We do risk management everyday without noticing it as we think that is the normal way of doing things but we don't know that it is as we have trained our body to manage risk that's why we are doing the things we do carefully to avoid losses. When we drive, we don't drive roughly as we know that it can end in an accident and we'll lose our life therefore we drive carefully but when gambling we forget how to manage our risk as we just want to win money.

Gamblers that are able to manage their risks wouldn't have any problems when gambling as risk management helps alot. A rich or poor gambler with a good risk management level will always be having a success bets when they're gambling therefore to determine who should risk more, one has to consider their risk management levels.

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Quote from: JahriMeayer on June 17, 2024, 06:55:18 PM

Nobody should risk more. Actually it's depends on mentality. Many poor people want to change their luck by win big in gambling and lost everything. Similarly i read lots of article Where are found that many Millionaire turned into bankruptcy in casinos. So it depends on mentality, how should you manage your money. But I think most of the time poor people do gambling than rich people. As a rich people are already rich, they own multiple assets, that's why if they loss in gambling, they would recovery their money from another source or they can lead their like without problem. But if poor people lost their money, it'll be hard for them. It'll directly effect on their economical life and their their livelihood who will cause suffer in long run. Cause gambling is always risky so poor should avoid gambling and rather they should Focus on building their wealth

Do you really think that the risk management of a gambler depends on the mentality? It is easy to guess that it is not, because people who have the same nationality and therefore a similar mentality, have a completely different level of education, wealth and risk. Mentality has nothing to do with it. It's more about financial literacy, education and a sense of responsibility to oneself and one's family.

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Quote from: Hispo on June 19, 2024, 11:47:36 AM

Quote from: Lucasgabd on June 19, 2024, 11:10:56 AM

Quote from: maydna on June 18, 2024, 07:40:47 AM

Quote from: JahriMeayer on June 17, 2024, 06:55:18 PM

🍑

you have to be obsessed about risk
risk management is everything, really important stuff
gambling can take all you have, if you don't take care it's a really sad situation
you know what I mean?

many people don't consider it and imo it is so basic.

Funny thing about risk management is how basic and common is in our daily life, that people do not even realize they all do risk management each day with each choice they take. Risk management is not only about trading or gambling only. It can be also applied to driving, food, actions taken at one's work place... etc. It just happens to be more explicit in casinos and exchanges.

By the way, I have not heard about "risk obsession" before, I know there are people who are so-called thrill seekers, but I highly doubt we are talking about people in the same category. Being obsessed to take risks sounds rather like commiting acts of recklessness non-stop.

Can you stay risk free in your daily life? There is risk in every aspect of life but gambling risk and risk in other sectors are completely different. Apart from losing your immediate money in gambling, once you become addicted to gambling, you will regularly invest there and lose money regularly. Gambling will destroy your relationship with loved ones, you will not get financial support from anyone in your time of danger due to gambling. Gharibs consider gambling as a major source of income and spend a lot of money and time in it and at the last moment they lose everything in their lives. And the rich own enough money that they only enjoy gambling and don't think of it as a source of income. So the poor suffer more from gambling than the rich.

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Quote from: JahriMeayer on June 17, 2024, 06:55:18 PM

Nobody should risk more. Actually it's depends on mentality. Many poor people want to change their luck by win big in gambling and lost everything. Similarly i read lots of article Where are found that many Millionaire turned into bankruptcy in casinos. So it depends on mentality, how should you manage your money. But I think most of the time poor people do gambling than rich people. As a rich people are already rich, they own multiple assets, that's why if they loss in gambling, they would recovery their money from another source or they can lead their like without problem. But if poor people lost their money, it'll be hard for them. It'll directly effect on their economical life and their their livelihood who will cause suffer in long run. Cause gambling is always risky so poor should avoid gambling and rather they should Focus on building their wealth

Yeah, but really for rich and poor it is the same. If you go all in, you will risk all your money, independent if you have $1 or $1M. It's all in.

So, in a way, they can be the same.

And also the odds are the same for both of them anyway.

ginsan

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Quote from: Lucasgabd on June 18, 2024, 07:09:32 AM

Quote from: JahriMeayer on June 17, 2024, 06:55:18 PM

Nobody should risk more. Actually it's depends on mentality. Many poor people want to change their luck by win big in gambling and lost everything. Similarly i read lots of article Where are found that many Millionaire turned into bankruptcy in casinos. So it depends on mentality, how should you manage your money. But I think most of the time poor people do gambling than rich people. As a rich people are already rich, they own multiple assets, that's why if they loss in gambling, they would recovery their money from another source or they can lead their like without problem. But if poor people lost their money, it'll be hard for them. It'll directly effect on their economical life and their their livelihood who will cause suffer in long run. Cause gambling is always risky so poor should avoid gambling and rather they should Focus on building their wealth

should is complicated
the thing is, the rich one CAN risk more if they want, if you think in absolutes
if you think in percentages the rich will have to risk LESS because he/she has more to lose while the poor can risk more percentually because it doesn't make a lot of difference if he/she loses (it's a little amount after all)

Let's measure risk with equal and fair things, if we measure the amount of course the poor will be at a small amount with their ownership status and the rich will definitely be called a person who has a big risk if you look at the amount spent but it will not be worth it because maybe the rich spend a little money but the amount is large, and the small person even though he spends a large amount but not worth the money that is considered small by the rich.

So if the calculation is the percentage of money spent on average, the poor are much more likely to spend a lot of money than the rich, he has a big risk, maybe tomorrow he can't eat and the average rich person knows that he has to manage money well so the percentage of the budget to play gambling can already be determined and it's just play money for them.

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Quote from: Lucasgabd on June 19, 2024, 11:10:56 AM

Quote from: maydna on June 18, 2024, 07:40:47 AM

If they don't thinks about the risks, they will lost everything and not just their money because gambling will takes all from them and that is the danger of gambling. No matters if you are rich or poor gambler, you will not have a chance to keep your money if you decide to playing gambling and don't have strong self control. You will not realizes that you use some money and more money then you will use all of your money without left. Rich and poor gamblers must have control to reduce the risks of losing their money in gambling because gambling is only for have fun. They don't have to risks too big money for gambling instead just use some money and stick to that to avoids the big lose so they will not playing gambling with the big money. That is why we must use the money we can afford if we want to gambling.

you have to be obsessed about risk
risk management is everything, really important stuff
gambling can take all you have, if you don't take care it's a really sad situation
you know what I mean?

many people don't consider it and imo it is so basic.

Of course I understand and understand what you mean above, upholding risk management is a more important concern than always thinking about the chance of winning. As you said that we can run out of everything we have and it can happen in an instant when we gamble blindly without implementing any precautions.

We have to understand that winning is nothing more than just a chance, the reason is because there is no way or method that can guarantee that you will win at the end of the session, in the end it is still only luck that can lead us to victory, while we know that luck is something which can never be controlled.

Gambling by prioritizing risk management is much better than focusing too much on the intention of "doubling", and I will say it is a fact that when you focus too much on winning then in the end you will be controlled by gambling while winning will always be something that is nothing more than just a chance or have an uncertain nature. So try to be very careful by implementing various preventive measures, don't be controlled by gambling but we are the ones who must control gambling activities according to our abilities.

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Quote from: Lucasgabd on June 19, 2024, 11:10:56 AM

Quote from: maydna on June 18, 2024, 07:40:47 AM

Quote from: JahriMeayer on June 17, 2024, 06:55:18 PM

🍑

you have to be obsessed about risk
risk management is everything, really important stuff
gambling can take all you have, if you don't take care it's a really sad situation
you know what I mean?

many people don't consider it and imo it is so basic.

Funny thing about risk management is how basic and common is in our daily life, that people do not even realize they all do risk management each day with each choice they take. Risk management is not only about trading or gambling only. It can be also applied to driving, food, actions taken at one's work place... etc. It just happens to be more explicit in casinos and exchanges.

By the way, I have not heard about "risk obsession" before, I know there are people who are so-called thrill seekers, but I highly doubt we are talking about people in the same category. Being obsessed to take risks sounds rather like commiting acts of recklessness non-stop.

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Quote from: maydna on June 18, 2024, 07:40:47 AM

Quote from: JahriMeayer on June 17, 2024, 06:55:18 PM

Nobody should risk more. Actually it's depends on mentality. Many poor people want to change their luck by win big in gambling and lost everything. Similarly i read lots of article Where are found that many Millionaire turned into bankruptcy in casinos. So it depends on mentality, how should you manage your money. But I think most of the time poor people do gambling than rich people. As a rich people are already rich, they own multiple assets, that's why if they loss in gambling, they would recovery their money from another source or they can lead their like without problem. But if poor people lost their money, it'll be hard for them. It'll directly effect on their economical life and their their livelihood who will cause suffer in long run. Cause gambling is always risky so poor should avoid gambling and rather they should Focus on building their wealth

If they don't thinks about the risks, they will lost everything and not just their money because gambling will takes all from them and that is the danger of gambling. No matters if you are rich or poor gambler, you will not have a chance to keep your money if you decide to playing gambling and don't have strong self control. You will not realizes that you use some money and more money then you will use all of your money without left. Rich and poor gamblers must have control to reduce the risks of losing their money in gambling because gambling is only for have fun. They don't have to risks too big money for gambling instead just use some money and stick to that to avoids the big lose so they will not playing gambling with the big money. That is why we must use the money we can afford if we want to gambling.

you have to be obsessed about risk
risk management is everything, really important stuff
gambling can take all you have, if you don't take care it's a really sad situation
you know what I mean?

many people don't consider it and imo it is so basic.

maydna

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Quote from: JahriMeayer on June 17, 2024, 06:55:18 PM

Nobody should risk more. Actually it's depends on mentality. Many poor people want to change their luck by win big in gambling and lost everything. Similarly i read lots of article Where are found that many Millionaire turned into bankruptcy in casinos. So it depends on mentality, how should you manage your money. But I think most of the time poor people do gambling than rich people. As a rich people are already rich, they own multiple assets, that's why if they loss in gambling, they would recovery their money from another source or they can lead their like without problem. But if poor people lost their money, it'll be hard for them. It'll directly effect on their economical life and their their livelihood who will cause suffer in long run. Cause gambling is always risky so poor should avoid gambling and rather they should Focus on building their wealth

If they don't thinks about the risks, they will lost everything and not just their money because gambling will takes all from them and that is the danger of gambling. No matters if you are rich or poor gambler, you will not have a chance to keep your money if you decide to playing gambling and don't have strong self control. You will not realizes that you use some money and more money then you will use all of your money without left. Rich and poor gamblers must have control to reduce the risks of losing their money in gambling because gambling is only for have fun. They don't have to risks too big money for gambling instead just use some money and stick to that to avoids the big lose so they will not playing gambling with the big money. That is why we must use the money we can afford if we want to gambling.

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Quote from: JahriMeayer on June 17, 2024, 06:55:18 PM

Nobody should risk more. Actually it's depends on mentality. Many poor people want to change their luck by win big in gambling and lost everything. Similarly i read lots of article Where are found that many Millionaire turned into bankruptcy in casinos. So it depends on mentality, how should you manage your money. But I think most of the time poor people do gambling than rich people. As a rich people are already rich, they own multiple assets, that's why if they loss in gambling, they would recovery their money from another source or they can lead their like without problem. But if poor people lost their money, it'll be hard for them. It'll directly effect on their economical life and their their livelihood who will cause suffer in long run. Cause gambling is always risky so poor should avoid gambling and rather they should Focus on building their wealth

should is complicated
the thing is, the rich one CAN risk more if they want, if you think in absolutes
if you think in percentages the rich will have to risk LESS because he/she has more to lose while the poor can risk more percentually because it doesn't make a lot of difference if he/she loses (it's a little amount after all)

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Nobody should risk more. Actually it's depends on mentality. Many poor people want to change their luck by win big in gambling and lost everything. Similarly i read lots of article Where are found that many Millionaire turned into bankruptcy in casinos. So it depends on mentality, how should you manage your money. But I think most of the time poor people do gambling than rich people. As a rich people are already rich, they own multiple assets, that's why if they loss in gambling, they would recovery their money from another source or they can lead their like without problem. But if poor people lost their money, it'll be hard for them. It'll directly effect on their economical life and their their livelihood who will cause suffer in long run. Cause gambling is always risky so poor should avoid gambling and rather they should Focus on building their wealth

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Quote from: Dewi Aries on June 17, 2024, 11:21:35 AM

Regardless of who you are, rich or poor, in the end, gambling with a high level of risk is an idea that will never be recommended in gambling, I understand that everyone has different financial situations in their lives, but still if we talk about gambling then Of course it is best to bet with a small amount or an amount you can afford to lose. Rich or poor is not something that can be used as a benchmark for achieving more or winning more often.

Bringing up the fact that everyone doesn't like losing money, although there are some gamblers who have a pretty good responsibility, but if they lose a large amount of money then I'm not sure they will be able to remain calm. Gambling does provide the opportunity to win to all gamblers regardless of whether they are rich or poor, but we also have to understand that behind the opportunity to win there is always the possibility of loss that will continue to lurk, meaning it is better to do something that does not exceed your abilities, one of which is allocation. money to bet.

Gambling for the rich is quite different on the eyes of many, but with experience you'd see that nothing demarcates the rich and poor in gambling except for bankrolls. The rich posses huge bankrolls while the poor own a little. Hence, people who think of the rich having immunity in gambling are probably wrong. No forms of immunity for anybody in gambling both for the rich and poor.

As you pointed out, nobody is comfortably going to accept losing his money without having a second thought about it. Even, the rich get pained the most for losing their money, because they wager huge amount of money to earn bigger. If the fact that rich gamblers wager huge amount of money makes them more of a risk taker than low income players, then that wouldn't be considered enough comparison. Because, if the low income player also had the type of money the rich posses he would do the same.

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Regardless of who you are, rich or poor, in the end, gambling with a high level of risk is an idea that will never be recommended in gambling, I understand that everyone has different financial situations in their lives, but still if we talk about gambling then Of course it is best to bet with a small amount or an amount you can afford to lose. Rich or poor is not something that can be used as a benchmark for achieving more or winning more often.

Bringing up the fact that everyone doesn't like losing money, although there are some gamblers who have a pretty good responsibility, but if they lose a large amount of money then I'm not sure they will be able to remain calm. Gambling does provide the opportunity to win to all gamblers regardless of whether they are rich or poor, but we also have to understand that behind the opportunity to win there is always the possibility of loss that will continue to lurk, meaning it is better to do something that does not exceed your abilities, one of which is allocation. money to bet.

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Quote from: nullama on June 14, 2024, 07:34:00 AM

Quote from: sotelorene on June 14, 2024, 06:18:08 AM

I believe in gambling, no one is entitled to risk more whether rich or poor but because most persons find themselves in bad condition and also the world we are into now they believe that or they see the poor as people that are not suppose to partake in anything and to an extent they are not that recognize in some certain things. Being rich doesn't mean one should risk more or being poor doesn't mean one should risk less perhaps whatsoever one feel is good to risk he or she should go ahead whether rich or poor we are all human being.

True, a poor person might be able to control themselves and not gamble all their money, whereas a rich person could go all in and lose it all in a single night.

There is always the possibility that a person can end up with nothing, independent of how much they started with.

At the same time, there is always the possibility to simply enjoy a nice time in the casino with a set amount of money.

that's true
gambling is one of the few things that will expose you to the risk of ruin
and one should always avoid the risk of ruin no matter what
so... better to either take good care of the time and money you spend on it or simply avoid it completely.

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Quote from: angrybirdy on February 07, 2024, 04:31:52 AM

Quote from: Apocollapse on February 07, 2024, 03:10:04 AM

The poor shouldn't gamble in the first place, they should accumulate as much as possible to build their wealth. If they're keep gamble, that's the reason why they're still poor. Remember, gamble using free bet or faucet isn't gambling since you're risking for nothing.

So it's the rich that should risk more, they have larger money, means they can gamble mores.

I agree, it would be better for those who are rich and have money to take risks because there is also a possibility that they will earn back the money they will lose, unlike the poor, when the money they used is lost, that is a big loss and problem for them, where they will get something to trade with the money they lost.
it's better to those poor people to focus on working and saving instead of adding vices that won't help their lives.

It's true that low income players should focus more on increasing their income instead of risking it on the casino. The risk Is quite too many for gamblers both ways. But, on the responses above it's better that a player with lesser amount of money to build himself financially. Have never been with a gambler who claims to own nothing, many of them always have to wager. Along the line they end up going broke. I mean, even the rich also suffer such risks, the advise shouldn't be directed to only low income gamblers. Every confused gambler deserves this advise. Because his wealth, if rich, can diminish in a fast pace. However, the lesser income players who have nothing on them should also respect this and become responsible. As it'll hit harder on them than any other gamblers with some funds.

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I assume that poor people should not take too much risk in gambling, because using logic, they should work and invest to build wealth that allows them to have the luxury of having fun while gambling. the rich has less to lose than the poor, because if the rich gambler loses, his pain will be less than that of the poor.

But both social classes are susceptible to addiction and addiction ruins the gambler's financial life, this is bad because both can bet everything they have and in the end it doesn't matter what social class they are in after going bankrupt.

Both when betting should reserve less than 1% of the capital, around 10 to 25% for variable income and so on, betting is supposed to be fun and in moderation.

It also happens that the poor bettor is more aware than the rich and ends up becoming rich by studying, taking up a new profession or opening a successful business and surpassing the income of the already rich person.

Topic: Rich or poor gambler, who should risk more? - page 23. (Read 9664 times)