Topic: Rich or poor gambler, who should risk more? - page 29. (Read 9664 times)

In my experience, the rich person will simply not gamble their money.

The poor person will try to put their money into this thing and see if they win anything, basically buying hope.

The reality is that the poor get poorer and the rich get richer because the rich don't gamble.

Maybe it's more about how close they are to gambling, because comparing the risks of rich and poor gamblers is not accurate, but if it depends on their approach it doesn't apply to one side, because the rich can be addicted, the poor can also be addicted. If their approach is very close, it indicates that they are seriously addicted, so perhaps this can be seen in their approach to gambling, it cannot be seen or compared by whether they are rich or poor.

However, I think that with those who are poor, it is very likely that they gamble because they hope to win, to improve their finances, so they have gambling as a shortcut to making money, but the reality is that gambling will only make them lose money, it actually makes them lose money. be in worse trouble. Apart from that, for rich people, even though they gamble to make money, they probably won't think too much about losing money by gambling. it may be.

I agree with you. This issue is so broad that can cause a huge number of opinions. In my opinion, each gambler himself determines his own risks and plays gambling considering this. Exceed their risks can absolutely any gambler, regardless of how much money in his account. Therefore, to compare the risks of a rich gambler and poor is not quite right. Yes, and lose money hurt both.

That's the point, the difference in terms of getting engage and unable to control is just the same, greed inside us mostly push us to keep playing and keep trying our luck, if things turns to an out of hands gambling participation chances to lose a lot is possible, even how rich you are the risk that you may lose everything is just the same with poor gambler, limitation is needed as if you forget about it then you may suffer the consequences.



It's on the side where rich gambler is capable to control and limit their budget, knowing that they can easily recover that using other source of financial income, unlike with poor gambler, once they lose it affects their entire financial status.

Is the question who "should" risk more or who "can" risk more? Lol, apart from the fact that this discussion probably leads nowhere, you have introduced limitations that are essentially diametrical to the discussion you would like to have.

What is the scenario you are trying to paint? If I am a poor gambler and come to the conclusion that I should risk more, how am I going to risk more when I am poor in the first place? The rich gambler has a spectrum that is supported by financial means, the poor gambler probably does not, hence the question is poor.

Is it absolute terms, relative terms? I don't understand the whole word "should" in this context as there is nobody who "should" take risks in gambling.

If rich gamblers win on their gambling, that will be a dream for many people, including poor people because that will be a lot of money. But poor gamblers can't just wins much money if they don't have luck but they will still try to wins on the gambling games based on luck. Lottery is one of gambling games based on luck that still trying to attracts many people to buys and dream they can wins a lot of money. It's already happens in many places and makes many people buying many tickets and hopes they can wins much money.

Playing gambling can gives them wins much money but they must knows that they can't depends on gambling to wins much money. No matter if they are rich or poor gamblers, they can lose much money before they realizes and stops their gambling activity.

Usually, the goal of most gamblers is to be able to win or make money. This is no exception, rich and poor people can aim like that with the gambling they do. also with those who are poor it is clear that gambling is to be able to double their money and hope to win, it is true what you said that poor people risk all the money they have so they don't pay attention to their needs, but they also gamble because they hope to get a win that can help Their finances got better, but unfortunately that didn't happen like that. Those who are poor do try to change their fate by gambling because the lure of easy wins makes them think that they can really change their fate by gambling.

I gamble when I have money left over from what I have, by first fulfilling my basic needs, and if there is money left over, I use it for what I want, whether it's for snacks or playing gambling. Indeed, we should not think that gambling can help our finances, because there is no guarantee that we will win, but losing or losing money is certain.

interesting! which other inventors do you think are like that?
even on Apple, Wozniak was a genius and realy important in the iphone and imac story but people often know Jobs way more than him...

yes, money is a game after all, some will want to pursue it with all their forces, I'd rather have a more balanced approach...

The fact remains that, risk exposure of rich gamblers are low compared to the poor ones in terms of capital amount. The rich gamblers stake might be ghe dream win of the poor one as well, rich gambler with proper risk and money management can gamble twice the initial of the poor one still yet not losing much while the poor loss everything at the start.

In essence, risk of a person is subjective and depends on the financial status and tolerance level of any individual irrespective of the class. So no one need over risk, or expose him/herself much. Nothing is certain in gambling.

Yes, that's why poor gamblers who are addicted are more at risk because they spend all their money without caring about their living needs, they are even willing to go into debt just to try to recover all their losses, in contrast to rich gamblers, they still have more money even though they lose, that's why gambling is actually in created for rich gamblers as a game to just have fun, but poor gamblers actually try gambling as a place to change their fate even though indirectly it actually makes their fate worse because they gamble recklessly and uncontrolled.

But we also don't want to be hypocrites in gambling, we definitely want to win, but don't let that be the main benchmark for the purpose of gambling, we should change the mindset of gambling to have fun so that we don't get addicted to gambling and dare to take big risks when gambling, risking all our money without looking at our living needs, which in the end is too much. Poor gamblers have many cases of gambling addiction which ultimately harms them in the future, this is where we learn that poor and rich gamblers usually always have different mindsets when gambling, only that is not the same so who is most at risk, namely poor gamblers who are addicted to gambling.

Yes inevitable truth the spending of every gambler is tide down to the purpose of gambling apart from that the Rich gamble most with greater amount because there gambling is change like that of the poor gambler. They spend more because they believe if wining occur for money they will have greater thing to take home but the poor may desire to gamble huge but the pocket can't permit because they calculate all aspect base on what they can afford.

Yeah, almost no one in the world knows about Dennis Ritchie, even though most people use something that was created thanks to him at some point.

Many products from Apple for example were only possible because of many inventions from Dennis. But most people only think of Steve Jobs.

I think there is a place for everyone. Not everyone wants to become ultra rich. Some people are happy giving value for nothing, it's like playing.

Even though rich people have enough money it doesn't mean they will be fine, it's true what you said, greed doesn't respect anyone, those who can't control themselves will certainly go in the same direction, namely addiction and losing a lot of money. Maybe this is more about what each individual's approach is like, because if they are very close to gambling then it is possible that they could become addicted to gambling. What's more, it seems like everyone has greed for money. But the point is, don't take risky actions, especially without considering it first, because addiction and other bad impacts don't matter whether you are rich or poor.

For rich people, maybe they can ignore their losses because they still have enough money to continue their daily lives, while for poor people they definitely gamble with the aim of winning, which is a monetary gain that can help with their financial problems. where they risk the money they have to double it in gambling, it is clear that they are full of hope in gambling so that a miracle will happen by getting a win, but of course they will most likely only experience defeat and experience worse conditions.

The unfortunate reality is that gambling is very risky for both poor and rich gamblers. However, a poor gambler who wishes to turn their luck around without taking on additional risk faces an uphill battle. One potential avenue is to learn optimal strategies for the games they play, such as basic strategy in blackjack or video poker. Some gambling venues also offer promotions, comps, and rewards to players that can improve one's expected return without additional risk. Signing up for a player's club, taking advantage of free play offers, and capitalizing on other incentives like free meals or discounts could allow the gambler to get more value out of their play.

that's a nice thought to exercise
I haven't heard of Dennis Ritchie before so I went to check:
https://en.wikipedia.org/wiki/Dennis_Ritchie

programmer that created C language and many other things
that's really nice, thanks for sharing

I think part of our work to make a better society is exactly trying to align incentives so those who provide value get paid for it.

Yups, because logically both people are putting money on the line but maybe in different amounts and all gamblers have the freedom to put whatever amount they want (although it's not recommended), we can't completely forbid them from putting a large budget because there is a possibility that they will say that "it's my money and it's up to me", so even though we care a lot, there are always some people who don't want to be cared about. This means that rich or poor have their own decisions, poor people can put a much larger amount of money than rich people that they get from anywhere, which means they take a bigger risk than rich people, and vice versa that rich people can also take a much smaller risk than poor people.

This means that we really can't use the financial situation as a measure of who should take a greater amount of risk between rich or poor gamblers, the point remains that it is best to take a really small level of risk or that you can afford to lose because after all gambling is always full of uncertainty in terms of winning, which means that taking a large level of risk will only lead you to significant regret.

The bottom line is that we really can't tell or identify who is going to take a big risk because anyone can do it regardless of whether they are rich or poor, in the end as you said it is best to just keep gambling as a place of entertainment by risking small amounts and not having excessive expectations of winning and I think this really shouldn't be a question.

In terms of capabilities yeah that's the advantage but if the rich person don't know how to control he can go on that same directions, he can spend amount that he can let go or extend to waste amount that is not intentionally for gambling, there's no difference between the two if we are talking about heavy addiction to gambling, they can both risk the same amount or the same way, though like what you said, rich people have enough to cover if they managely quit after playing,

 they've got the resources and it will be an easy journey for them to forget about the lose amount, while with poor even how small the amount, they still feel that money and in a little mistake they can feel that losses coming out from their finances and it will hurt something though not the basic needs but something that the money can be use but they lose it in gambling.

I don't recall myself degrading the average people though, what part did I say that they're worse off than the rich people? I mean it's only logical that you would manage your money well if you don't have a lot of it in your disposal, that's how you start prospering, knowing how to take care of your money and knowing how to spend it wisely. Sure the rich can gamble, they've got a lot of money and that's probably the only key difference, not to mention that no matter what status in your life is, gambling is still a bad financial decision.

Yes, that is something that I can also see, everyone has their dreams, but it is worth highlighting something very logical, a millionaire or rich person has no basic need other than covering their markets, or covering medical needs because they have that super insured, a normal person, middle or lower class, of course, cannot afford to spend a lot and be calm because if by bad luck he ends up spending more than he should, he has to resort to unwanted things, such as For example, asking for loans, applying for credit, and that is something that financially has long-term consequences , because expenses tend to accumulate and it is not pleasant at all.

But there's another way to look at it.  Losing money gambling can really hurt, even if it doesn't seem like much to some.  A wealthy person might not care about dropping a hundred bucks, but for someone who's barely getting by each month, that could mean not paying their rent or utilities. 

It shouldn't ever get to the point where you actually need to win just to pay your basic expenses.  Because no one should bet money they cant afford to lose and  even if it's only 20 dollars.  Going to a casino and playing some slots is fine but don't gamble with bill money or anything else you critically need to get by.  Unfortunately, problem gamblers don't stick to this.