Topic: Rich or poor gambler, who should risk more? - page 34. (Read 9656 times)

Yes, and of course there are similarities and differences between rich gamblers and poor gamblers. It can be seen that rich gamblers dare to bet large amounts of money, while poor gamblers can only bet according to the money they have in their pockets.
And rich gamblers can gamble every day because their income is enough to support them, while poor gamblers will only gamble occasionally when they have money.
Yes, for a bad gambler, perhaps he will not consider gambling to be bad for his life on the basis that addiction is what makes him a bad gambler.

It's true that both of them don't need to risk more just for gambling. Because good gamblers are gamblers who know their limits and gamble within their means - they will not gamble more than they can afford because they think long term and are wise in determining their decisions. Even though in some cases people who risk more can get the jackpot from their gambling, that cannot justify the reason that risking more is normal in gambling.

Though there's similarities in terms of risk and the possibilities that both rich and poor will be engage and become addicted, but in terms of capabilities to play without thinking that much is in favor of rich gamblers, same with your arguments, rich people can easily deposit as they don't need to budget their finances in terms of allocating amount of money for their bankroll,

 while with poor gamblers, if they need to address other things before playing, they need to divide the money that they've got then use portion of it for gambling.

Things in terms of capabilities might be different but gambling is gambling and we can't deny that risk is always present.

Maybe your opinion is correct, indeed rich gamblers already have a lot of money so they can easily gamble without any obstacles whatsoever and for poor gamblers it is certain that if they want to gamble they have to think first about dividing the money for their daily needs and leaving some money behind. money to gamble when you want to play.
Yes, and for rich and poor gamblers, they both have to have proper self-control so that when they enter the world of gambling, they don't take too much risk there by gambling excessively.

According to the financial status of the people, the ability to waste money varies from person to person  So if a poor person can afford to waste $10 then a rich person can afford to spend $500+ so different people will have different gambling budgets depending on their financial situation.  But gambling for both would be equally risky. A rich person loses more money on each single loss than a poor person.  Because the bet amount of a rich person must be higher than that of a poor person. so gambling will always be equally risky for the rich and the poor.  So everyone should make a gambling budget according to their financial status and ability to accept losses

This is a good illustration of having the wrong mindset and it is often projected by people who have little money. How much you're starting with should be pretty much irrelevant to your judgement of risk on the bet. You should only be betting what you can afford to lose, if that is $100k for a rich person or $10 for a poor person, that's what you should use for your bet. Thinking you should gamble more proportionate to your earnings is a bad idea and will lead to your stop being rich if you follow it.

Ordinarily, a rich gambler have more resources to spend and risk into the gambling games than the poor gamblers but does not imply that they must take more risk, because everything depends on the habit or character of the individual involved. Some poor people are great risk takers and can stake all their earnings in to gambling and when such people lose their money, they are greatly affected by their loses resulting into psychological trauma and depression in some cases.

Some rich people also take risks of injecting some huge amount of money into gambling games but I see many of them taking calculated risks instead. In the sense that when they lose, it probably only affects the profit they had injected into the gambling but not their entire income or worth. They have more options and opportunities to recover faster than the poor people from any lost. So, whether poor or rich is basically an individual decision, but while a poor man will greatly suffer from the lost, the rich might not necessarily feel the same way.

The rich don't go into gambling a lot compared to the average people and low income people. But we still have some rich people who find themselves gambling for some reasons best known to them. Later on, we'd see that they also have financial needs which may have brought them into gambling. Sometimes the rich also get greedy in gambling. It's always a tough thing determining who is greedier among the rich and the low income players. Because greed enforces risk.

People take their most risks due to greed. That's why some players would wager their properties and every other belonging of theirs, because they feel it'll get doubled. It's all as a result of greed. Having an eye on what seem simple but difficult to achieve can be detrimental to one's wealth. Despite how huge it may seem. Losing out lots of properties and wealth in gambling can lead to mental disorder. And the illness will consumes more money during the healing process.

I think gamblers who are rich also face big problems in gambling. When a person loses something quite very huge, he will undergo a serious pain and emotional meltdown. If a rich person gets emotionally unstable he'll pass through similar pains like anybody whether rich or poor. Big mistakes in gambling is the risk, and such risks are not favorable to the player's health. Players who take risks are greedily seeking for more money. Trying to advance their financial class through gambling.. it can be risky for anybody to do, but both classes take risk in gambling. Yet, the rich roll more.

and that sends us all to the attitude and self control , because how even we have learn from advises yet w are the one that will suffer from this consequences .
chasing losses is the shittest thing a gambler should do so better not to deal with that.
I will never act such way because this is the only thing that will makes a gambler a complete loser.

Poor gambler mostly come to this venue in hope that they can double their money, that kind of misconceptions give that high edge for the casino owners, while in some cases their are rich gamblers who are too lazy to take that huge risk then lose their entire savings, the comparison depends from how individual treats their gambling  participations.

And yes, rich or poor got that similarities both are taking that risk and if once emotions dominates the outcome mostly not in your favor.

Exactly, I've always been of the opinion that no matter if you're rich or poor, the advice is to take risks that are within your means, or what that means is that if you earn $100 per week for example then obviously your gambling budget should not exceed $5 or below which is the amount that you can afford regardless of whether you're rich or poor. However if we are talking about gambling then we will not be able to make the financial situation as a benchmark for someone to take the amount of risk, the question of who should take a greater risk between the rich and the poor I think is a silly or stupid question. Because no matter how rich you are and how much money you have if we are talking about gambling then obviously in the end you can end up being a poor person or a beggar in a short period of time if you treat gambling in the wrong way and overdo it in terms of taking the level of risk.

The most important thing is indeed from their wrong thinking about gambling, gamblers who will feel more risk of loss in my opinion are those who misinterpret gambling and respond to gambling where they think they can make money just by gambling, and maybe this kind of thinking is more dominant in poor people, but that does not mean that rich people do not have this kind of thinking. Even rich people can have wrong thoughts like this. But maybe the rich don't really care about gambling because they still feel they have money to spare. But even though they have a lot of money to spare, it doesn't make them not feel upset about the losses that will occur with their gambling.
It is true what you said, with those who gamble to make money, most likely they will be very disappointed with the final result that will occur is defeat, because for gamblers who already understand the meaning of gambling, most likely they will also be disappointed if their gambling ends in defeat, especially with those who gamble with the aim of making money.

Indeed everyone will have similarities in taking big risks depending on their respective finances.
Rich people obviously take risks with much larger amounts of money, but poor people will take bigger risks with relatively small amounts of money because their finances are limited and the only difference is the amount of money used.
Maybe rich people gamble using large amounts of money and for longer periods of time but they will still have limits on the amount of money they can accept to lose, and vice versa for poor people who gamble.

It just that what is wrong and often happens is that risk taking is done for ambiguous purposes, they hope to make money and become rich or richer but they are not aware that the risk taken has large percentage to be accepted.
Risk in gambling will be like the chance of losing and this is 80% compared to winning which only has percentage of 20%.

It's irresponsible not to accept defeat as a gambler. Because the game revolves around getting some losses. Players struggle a lot over not being careful of losing in a game. Their thoughts will get so wrong about gambling. As what they wanted is not met and the losses incurred seems too enormous that the gambler wouldn't understand where his flaws are arising from. The game is super tricky especially for the low rollers. Who are deliberately concerned about winning more money in gambling, other than figuring out means of making their experience better. Those times when losses are followed happens to be the worse experience for any gambler. As it's not a feel good moment for anyone. Watching the game playing against you is always painful. And causes anxiety to the player. Thereby accumulating more losses in the process of trying to realize a huge amount of money.

That's right, rich people or poor people should not take actions that are at great risk, because this is gambling where there is no certainty in terms of victory, maybe rich people can gamble more freely, it just doesn't mean they can gamble at will, like not caring about what they bet because they feel they still have a lot of spare money, okay they are rich by having a lot of money, but the perception is not like that, even though they are rich they must still be able to have certain limits, because there is no way they will continue to be able to accept losing money because the gambling they do often ends in defeat.

And for poor people who do gambling, the main goal is of course profit, where they want the money to multiply, but that can actually make them frustrated if defeat occurs, by wanting to get a win but we cannot accept defeat it is the same as they let themselves get into trouble intentionally. Poor people definitely do gambling because they want to improve their financial situation, but gambling will not always go well, and can help them in their financial problems.

You just made a very good point, it doesn't matter whether an individual is rich or poor cause both are still liable to lose. It's not as if an individual who is rich would not lose money when they take risks in gambling, there in what ever category any individual find themselves in they should risk whatever they won't get all emotional about. But I still insist that the wealthy people are in a better position to risk losing money cause they still got something to fall back to.

 A poor man who see gambling as a means of making money is one who's tried many means of getting financial freedom but things didn't works out and based on the fact that they heard or seen people make huge profit from it, would then decide to try their luck thereby risking all they have. But i don't think it's the right decision cause when you use all you've got to gamble, where would you fall back to in a case where it doesn't make profit.

If we talk about risk, Risking more or less is individually based, as risk tolerance level varies. It doesn't necessarily need to be either the rich or poor both will still face reality of loses. Nobody should risk what he isn't ready and willing to lose wether you are rich or poor, set limits.

Most at times, the poor are often found in this situation, which they see gambling as source of income, thus making gamble without limits, chasing loses, believe the fantasies of casinos.  The poor are desperate, the rich are calm and ain't moved by the losses most at times because they have other means of recovering.

In essence no one should risk more wether rich or poor, set limits and moderation, don't give room for greed.

Both sides shouldn't take on more risk. Even if the wealthy individual could endure longer, there's still a limit to how much they can handle. While the poor could potentially become richer, and the loss would still have the same impact, still poor. It continues to affect their daily lives, possibly even more significantly due to their limited finances. Regardless of how deep their pockets are, one shouldn't take on additional risk. Gambling is already a risky habit, so why would someone escalate it even further?

Even that, people will still chases their luck by playing gambling longer than usual because they thinks that can attracts their luck to comes. But they are wrong because no one will knows when their luck will comes and the luck will only comes to the right person. Rich or poor people who playing gambling can't knows when their luck will comes so it's better for them not to playing gambling too often. People will tells their stories about their wins and lose but one thing that we should do is not trying to risks our money to chase the wins because that will difficult. When we knows that we don't have luck when we playing gambling, we must decides to stops our gambling activity because that can cause us to lose more money. No one must risks more in gambling, even if they are rich or poor people because playing gambling is part of fun in our spare time.

The most likely thing that gamblers will do when they lose in gambling is to chase defeat, the feeling of wanting to recover the situation can arise with the defeat that has occurred, but this will not happen with those who really understand what gambling is, if they gamble with the aim of making money and the gambling they do ends in defeat then they may take action to recover the situation, which action is likely to also make them lose again in gambling. Moreover, gambling can indeed affect their emotions which will become overflowing, grudges when gambling ends in defeat can make disaster come.
When they gamble irresponsibly such as by chasing defeat, because that action in my opinion is an irresponsible action, where they cannot accept the fact of defeat so they want to turn things around when defeat occurs. Gambling can indeed give them rewards if they are lucky.