Rich or poor gambler, who should risk more? - page 30.

tottong

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Quote from: Fundamentals Of on February 08, 2024, 11:42:51 PM

A poor man should not even gamble. Why should a poor man play with money when he only has a small amount of it? He is poor, meaning he cannot fully support all his needs. He cannot provide decent food, shelter, clothing to himself and his family. He finds it hard or even impossible for his children to get a decent education. That's what being poor means. So why should he be gambling? I think he has no right to gamble when he can't even provide for his family's needs.

Poor people are more involved in lotteries because here they can bet with much smaller amounts of money, buying two or three numbers for a small amount of money can also give them big wins in the lottery, as long as they are lucky enough to get the right numbers.
Everyone has the right to gamble, but gambling awareness must be based on financial capabilities, so that it does not affect their life journey with their family.
For example, if they cannot afford daily living expenses for their family then should not force themselves to gamble. That's how gambling should be and when we want to engage in it, we have a specific budget that does not interfere with our daily needs.

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Quote from: Fundamentals Of on February 08, 2024, 11:42:51 PM

A poor man should not even gamble. Why should a poor man play with money when he only has a small amount of it? He is poor, meaning he cannot fully support all his needs. He cannot provide decent food, shelter, clothing to himself and his family. He finds it hard or even impossible for his children to get a decent education. That's what being poor means. So why should he be gambling? I think he has no right to gamble when he can't even provide for his family's needs.

Poor people gamble because they are attracted by the prizes that gambling gives the winners, so they use their money to gamble. And even though they can't win yet, they will continue to try to win the gambling game to get money. This mindset must be changed so that they do not waste their money gambling and prefer to use their money for other things, such as meeting their living needs. It would be much better because they would not have to lose money on gambling while they could make ends meet. If he can understand this, he will be able to use his money well and continue to work hard to earn money from his extra work instead of gambling to make money.

Fundamentals Of

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A poor man should not even gamble. Why should a poor man play with money when he only has a small amount of it? He is poor, meaning he cannot fully support all his needs. He cannot provide decent food, shelter, clothing to himself and his family. He finds it hard or even impossible for his children to get a decent education. That's what being poor means. So why should he be gambling? I think he has no right to gamble when he can't even provide for his family's needs.

radjie

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Quote from: Queentoshi on February 07, 2024, 03:35:11 AM

Gambling an activity for fun also has the chance to turn someone's fortune. Calculated risk when taken in gambling can be the way to big wins from gambling. Who do you think should take more risk in gambling? The rich gambler or the gambler who is not yet rich. If a rich gambler takes risks in gambling, they are risking losing money and becoming poor from gambling, or getting richer, when a gambler who is not yet rich gambles, they can also get poorer or richer, so the gambler who should take the risk should be the gambler who can handle the dangers of the risk like losing too. When a rich gambler loses from taking a risk, there is a better chance of them being in a position to manage with the losses, than someone struggling financially who a big loss will really affect. So, I am confused after asking myself this question and answering it, does this mean a poor gambler should continue to play it safe in gambling? With no risk, how can a poor gambler change their fortune in gambling?

Rich gamblers have enough capital to be able to last longer while in the game, but it all depends on their individual character, if they gamble just for fun of course they will not expect to get back the money they have spent when experiencing consecutive defeats and can limit them because the goal is to seek pleasure

In contrast to the poor gambler, if he gambles to get income to change his life, he will never get it because he gambles with ambition and will continue to chase big wins, This will result in continuing to do it and feeling addicted which will have an even worse impact on him.

Luck in gambling will come automatically depending on the purpose of gambling and the characteristics of the person playing it

Julien_Olynpic

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Of course, a poor person has to take more risks, that's obvious. For a rich person, there is little point in taking risks at all. He can make small bets and they can be quite large in absolute terms. Conversely, a poor player's bet that is large in percentage terms may be minuscule in absolute terms.
Another thing you can think about is this: why do people play? Many people try to deceive themselves, but in fact people play for a big win, that is, for such a big win that could change their life and lead to financial independence.
But such a win implies high stakes, which a poor player can hardly afford.

shasan

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Risk is a small amount or big amount is differs from person to person. Those who have 5k$ think a small amount or big is different from those people who have 5 Billion dollars. But the risk should be taken only those amounts which a person can afford to lose. And it depends on the person's affordable. A rich man may not afford the amount which a poor man may do. So, it can not be measured by rich man or poor man.

TelolettOm

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Quote from: Mr. Magkaisa on February 08, 2024, 10:43:36 AM

- Maybe when it comes to the amount of money they lose, it's the rich gamblers; of course, they don't feel like they're losing a lot of money, unlike the poor, as long as they can only bet a small amount so they can last a long time playing in the casino.

True. The rich people won't regret it when they spend a small amount of money. But the poor people will regret it whatever the amount of money they spend for gambling. It is because the poor people have no much money, they have limited amount of money. The poor people won't gamble the whole day because they have no enough money. But the rich people may gamble the whole day because they are capable to do it. So, the chance for losing bigger money is surely for the rich people.

Quote from: Mr. Magkaisa on February 08, 2024, 10:43:36 AM

But there are other poor gamblers who gamble immediately and bet a large amount immediately or the entire bet immediately so that they don't immediately want to win, but when they win, they don't stop immediately because they think it's lucky that day instead of should have stopped immediately.

It is impossible that the poor people will be with huge money. Where they get the money? If they have huge money, they will prefer to fulfill their daily needs. And about stopping gambling when they win it, it depends on the person, there is nothing to do with the poor status. There is also no guarantee that the poor people can have good luck to win it easily.

panganib999

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Quote from: Queentoshi on February 07, 2024, 03:35:11 AM

Gambling an activity for fun also has the chance to turn someone's fortune. Calculated risk when taken in gambling can be the way to big wins from gambling. Who do you think should take more risk in gambling? The rich gambler or the gambler who is not yet rich. If a rich gambler takes risks in gambling, they are risking losing money and becoming poor from gambling, or getting richer, when a gambler who is not yet rich gambles, they can also get poorer or richer, so the gambler who should take the risk should be the gambler who can handle the dangers of the risk like losing too. When a rich gambler loses from taking a risk, there is a better chance of them being in a position to manage with the losses, than someone struggling financially who a big loss will really affect. So, I am confused after asking myself this question and answering it, does this mean a poor gambler should continue to play it safe in gambling? With no risk, how can a poor gambler change their fortune in gambling?

It doesn't matter if you're rich or not. The amount of risk you take should always be proportional to the losses you can afford.

You could be the richest guy in the world and be shaken by a mere loss of a dollar, and that's okay (and you should take that into account when you gamble) of course this doesn't apply to those who's living below their means cause why the hell would you splurge in gambling when you can't even afford to finance your food in the first place? Make that make sense. This kind of means rich people will always have the edge over poor people in regards to being able to afford losses and whatnot but it's a reality in life that we can't really ignore/disregard. But the point still stands, only risk what you can afford to lose. Going over your limits is a death wish, you're not a main character in an anime, you shouldn't surpass your limits especially if it's all about gambling anyway.

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Regardless of whether someone is rich or poor, a person who is wise enough will never bet an amount higher than his ability to lose. Because they are well aware that if gambling is not done as wisely as possible, then the gambling they do will only result in losses. a loss, which is none other than this activity can only waste our time and money in vain. and no matter how rich you are, if your finances are not controlled properly, the money you have will be wasted on useless things, such as spending it on gambling.

Everyone knows that gambling is an activity that has a high risk of losing money, and after losing that money there is no such thing as a money back guarantee. So it would be stupid if we bet like crazy in gambling. "Gambling is for enjoyment, by placing higher bets, it will only cause disappointment and significant losses."

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Quote from: Queentoshi on February 07, 2024, 03:35:11 AM

Who do you think should take more risk in gambling? The rich gambler or the gambler who is not yet rich. If a rich gambler takes risks in gambling, they are risking losing money and becoming poor from gambling, or getting richer, when a gambler who is not yet rich gambles, they can also get poorer or richer, so the gambler who should take the risk should be the gambler who can handle the dangers of the risk like losing too.

Weather rich or poor, I don't think that should be of any difference why any should gamble more or not, because just as our individuality differs, so do our ability to take risk also differs, hence, taking more risk in gambling should be done by those who could afford to take the risk and make a calculative attempt more despite either been rich or poor, since when "luck" comes, it never minds if is that gambler rich or poor, hence, gambling should be an act we do while taking cognisance of the fact that we can win or lose.

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Quote from: asyakashi on February 08, 2024, 02:08:32 PM

It is the poor who have the greatest risk, logically we can judge, if a rich person loses he will become poor, but if a poor person loses his life will be neglected, and generally the victims of irresponsible gambling are poor people who have high hopes. to gambling so they can get rich quickly

The poor are oppressed and the rich are getting richer, But rich people also don't always have knowledge about gambling, they are also beginners but they just have more money. Losing $1000 may be just a little money for the rich, but for the poor it's everything so the gamble really has to be thought about. Poor people with high money and high hopes certainly have to think about how they can manage that money, so they don't lose or lose in gambling. But this also depends on their management and how skilled they are in gambling.

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Quote from: coolcoinz on February 08, 2024, 11:30:08 AM

The question is ambiguous.

What is "more?"
Are we talking about more in terms of percentage net worth or more in numbers? Of course a rich man can and will bet more in numbers than a poor guy because for a poor guy spending $100k in a casino is impossible when he doesn't own that much. When it comes to % net worth it's also pointless to compare because I know poor people who get $100 in allowance every month and they can sometimes bet half of that and if they lose they beg for help. For a rich guy matching that and betting 50% of his net worth would mean some crazy numbers like $10m - nobody bets that much.

From the content of the post, I think the "more" here is about the percentage of net worth of both the rich and the poor because there's no way a poor man is expected to risk more money than the rich man in terms of numbers as in most cases, a rich man's man's numbers in gambling is higher than the poor man's total net worth.
Now that I've clarified that, I want to talk about the topic based on my personal experience. From what I've observed, the poor man gambles more than the rich as I've seen more number of poor people who uses over 80% of their total money to gamble a risk that is very rare among the rich people

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Poor people should NOT being gambling in ANY WAY SHAPE OR FORM. The sad thing is I'd be willing to bet that the majority of lottery players and scratch off ticket players are those whom are living in poverty of at least below the "middle class" line. It's the same type of thing when I see people taking their change to Coinstar machines (which give you bank notes in exchange for your change, but are charged a fee...something a bank would do for free), it's typically those with less means and sadly often less education.

The chances of changing your fortune via gambling and the lottery are highly against you...so putting money towards trying to strike gold in a barren wasteland is simply not smart.

asyakashi

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It is the poor who have the greatest risk, logically we can judge, if a rich person loses he will become poor, but if a poor person loses his life will be neglected, and generally the victims of irresponsible gambling are poor people who have high hopes. to gambling so they can get rich quickly

Quidat

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Quote from: rachael9385 on February 08, 2024, 01:17:12 PM

Quote from: Jawhead999 on February 08, 2024, 10:59:39 AM

If the poor is a generous person and don't care to get rich, he can risk more money because he don't have to think about it, as long as all of his needs fulfilled.

If the rich is a stingy person, always paying attention with every cents he get, he might not want to risk any his hard earned money except it's not his money e.g. his wife money, his friends money etc. So actually he can't risk any money even though he's rich.

So it depends on the person is.

You actually have a point but I would want to remind you that there is no one on earth that doesn't want to be rich.
As long as one is a working he or she is looking for money and also more gamblers are putting winning in their mind so it's impossible for such people especially the gamblers that are there to make profits and not to gamble for the fun, they will always want to win.
When a stingy rich person risk his money and still lose it he will be fucking angry to him self because his not ready to lose a dime from his account. But at same time risk what he can not afford to lose.

We do know that there's no such thing about contentment when it comes to money on which it would really be just that a normal approach that you would really be needing up to consider out
on which making money would really be our main priority. This is why it would really be that so damn hard to resist to play gambling whether you would really be rich or poor. The only
advantage into those rich people is that they could really be able to play more since they do able to make such thing due to financial capacity on which those poor ones do really lack.
Doesnt matter though yet odds and chances on losing would really be just that the same plus we know that the higher the amount you are using or risking then the higher the amount
you would be losing. So it does always reflect on the things that you've been doing into.

rachael9385

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Quote from: Jawhead999 on February 08, 2024, 10:59:39 AM

If the poor is a generous person and don't care to get rich, he can risk more money because he don't have to think about it, as long as all of his needs fulfilled.

If the rich is a stingy person, always paying attention with every cents he get, he might not want to risk any his hard earned money except it's not his money e.g. his wife money, his friends money etc. So actually he can't risk any money even though he's rich.

So it depends on the person is.

You actually have a point but I would want to remind you that there is no one on earth that doesn't want to be rich.
As long as one is a working he or she is looking for money and also more gamblers are putting winning in their mind so it's impossible for such people especially the gamblers that are there to make profits and not to gamble for the fun, they will always want to win.
When a stingy rich person risk his money and still lose it he will be fucking angry to him self because his not ready to lose a dime from his account. But at same time risk what he can not afford to lose.

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Quote from: chaser15 on February 07, 2024, 06:48:10 PM

Rich or poor, once they lose, they lose. There's no Math in there. Both will suffer the same result.

- If these rich gamblers aren't able to control spending huge money in gambling, they will face bankruptcy soon.
- If these poor gamblers aren't able to control spending huge money in gambling, they will end up being in a much poorer state.

Who should risk more? That's not how it goes. Should be, be responsible at all times either rich or poor.

I understand the message but I feel the context is more on what and how these two gamblers feel they lose money and believe me when it comes to that, I have seen a heck lots of crazy gamblers that felt no remorse whatsoever even when they lose tons of money and I would also like to throw this question out there which is , if the two gamblers are the same then why is it that it's always advice that gambling is actually meant for the and not the poor person.

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Quote from: Mr. Magkaisa on February 08, 2024, 10:43:36 AM

- Maybe when it comes to the amount of money they lose, it's the rich gamblers; of course, they don't feel like they're losing a lot of money, unlike the poor, as long as they can only bet a small amount so they can last a long time playing in the casino.

But there are other poor gamblers who gamble immediately and bet a large amount immediately or the entire bet immediately so that they don't immediately want to win, but when they win, they don't stop immediately because they think it's lucky that day instead of should have stopped immediately.

I think both the poor and the rich should not risk more than they can afford to lose. Yes, the rich people can gamble with more amount of money as compared to the poor gambler but then again it is a certain percentage of the portfolio each one is risking in each bet.

Let me explain this with an example. Suppose a rich person has 1000$ worth of gambling portfolio, and if he risks only 1% of this, it will be 10$ for each bet. On the other hand, if a poor gambler has 100$ worth of funds allocated for gambling, risking 1% in each bet means that he will bet with only 1$ per bet. Now if he also chooses to bet with 10$, it will be too much as it accounts to 10% of his 100$ portfolio. So by only looking at the bet size we cannot suggest if the gambler invested more or less, because it depends on this financial status and how rich or poor is the gambler.

nara1892

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Quote from: bhadz on February 08, 2024, 11:40:05 AM

If the answer is about who can risk more, there is no any other answer than the rich. He has more money to gamble and if you will look at the poor gamblers, it's incomparable for obvious reasons. But you know who's better at risk taking? the poor gamblers. And that is because they've been at the lowest and bottom of the cycle of life and they have been taking risk in everyday of living so, these risky things are nothing to them and they'll just take it as something simple and easy like as they gamble.

Yes it is clear because the rich have better financial strength so if the question is like that then obviously the rich can take a much bigger risk, if you compare about the risk taking done by the rich and the poor then actually this is the difference in circumstances that affect the amount of risk taken, for example if according to the rich the amount allocated to the gambling done by the poor is small but for the poor maybe it is a meaningful amount for him and obviously the difference is that different life circumstances make their point of view also different towards the value of money. On the other hand I can't say that poor gamblers don't take big risks or always gamble with a good approach in the sense of being far from excessive because sometimes weak financial circumstances can also be an excuse for them to go overboard in gambling with the aim of getting a lot of winnings to overcome their financial problems in their lives which basically actually is a wrong assumption and idea that will only make them poorer in the end.

Iroh

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You can only take a risk if you’ve got something to lose. Individuals who are gamble and are wealthy have a lot to risk. But as they could also comfortably afford to take those risks, they’re considered safe. Unlike the individual who is poor and gamble. The Individual has little to nothing to lose but also cannot afford to comfortably take the risks that is found in gambling. With the little monies saved up, if he decides to risk it in gambling and loses, he loses even more as he couldn’t afford it in the first place.

The poor cannot afford to take those risks as they’re not financially stable. They should strive to earn more if they actually want to risk more.

Topic: Rich or poor gambler, who should risk more? - page 30. (Read 4500 times)