Topic: Rich or poor gambler, who should risk more? - page 41. (Read 9664 times)

Yes, there would really be no exemptions whether you are rich or poor on where you would really be able to experience and met up the same risk chance when dealing up with gambling. Just like the rest been saying that
no matter how big the funds you do have but when you are unlucky then you would definitely lose no matter what. The difference only here is about your financial capacity which rich and poor does have that difference when it comes to betting or gambling on where rich ones would really be having a longer gambling session comparing into those poor ones. The only aim on here is that you shouldnt really be making yourself that
be addicted into it because this is where usually issues would really be happening on the time that you would really be overexerting yourself on playing gambling.

You should really be always having that kind of moderation and control on which it doesnt matter whether you are really that rich or poor. It would really be just that the same.

All risk is risk, it’s just depend on the amount you are putting in because of your level of standard well because rich people usually put big amounts to the standard and if they lose, it will also affect them because they know the amount they have put in poor people in gambling. Also have a room on putting the amount of money they can to the standard if they also lose it to affect them such as how it will affect the rich man, if you are rich or poor, doesn’t make you to have less consign on knowing the risk, and if you are rich, that doesn’t make you too risk more because you wouldn’t put small amounts like the poor, you will stack  a high standard of cash so everyone should be careful and do the writing in gambling to avoid story that touches the heart

The poor gambler is always risking more because the only way to answer this question is in percentage terms.   Its really about income more then capital, some people are capital rich but short on income at times and not so often the other way round is that true.

The poor gambler must count their steps more carefully and consider the risk better to not over step a bet that leaves them walking home.  The rich bettor has a driver and car waiting for them outside anyway comparatively, you have less to worry about if richer and thats the real luxury of that situation.

The biggest bonus about being the poor gambler is any casino offer is a bigger deal to increase your available bets with the small amount you may have also more leeway with the bonus given you have time to work out the best way to win and repeat that win for a chance to cash out with more then you came.

Every loss is bigger but also every win is bigger when you are poorer, to me the game is greater for the poorer gambler.  In a funny way we should be envious of the man who can double his net worth in a night because he came to the table with so little its a bigger deal all round for them.

You are right, and what you said is actually a kind totally different from the perspective I made my comment from, but all the same, you are right and I agree with you.

And furthermore, we must not also forget that there are different types of risk, we have..
1. The low level risk
2. The meduim level risk
3. The high level risk

And in each of this risk types, there are two categories of risk inside, and they are..
1. Calculate risk
2. Uncalculated risk

So, the rich, it is acually possible for someone who don't know much about risk to be taking a low level, yet Uncalculated risk, for such risk, the rich man may win or lose he's money, because outcome in every Uncalculated risk will always depend on how lucky the person is.
But a person can actually take a high level, yet a well calculated risk, in this type, the risk is high, but it is a calculated one, so, it now depends on how accurate or correct the person's calculation is, for him or her to win, and we all know that high risk comes with high reward.

What I do think that many poor people are doing is, taking high level risk that are Uncalculated, this is why most gamble and still lose, the rich on the other hand did not become rich by chance, it takes a high level of intelligence to be rich and also maintain the wealth, this class of people already know how to take calculated risk, even if it's a high risk, they just make sure its well calculated, and this is why we some times see that rich people will bet millions and win, and a poor man will bet $2 and still lose it.

If it is reviewed by looking at the percentage, in my opinion, it depends on what percentage is taken from the ownership of money to do gambling, people who use great risk are people who use a greater percentage of their money ownership, this hall is not seen from the amount of money spent and also does not see poor and rich to determine who has the greatest risk.

If a person has $10k and uses 5% to gamble then it will not be a problem for that person, and in the same case a person has $100 and uses 5% of his total to gamble it is also not a problem for that person, but if the person who has $100 uses 50% of his money to gamble then the person with the most risk is the person who has $100, So I think this is not looking at the amount but looking at the percentage of money owned as a benchmark for how much people take risks in gambling, because if you look at the amount of money spent it will get an unfair calculation and become a confusing answer like we are locked in rich and poor.

When desperation do kicks in, then this is the time that you would really be considering on taking up those big bets or something that you would be having that YOLO bets on which this is something
that you would really be considering on trying out to do because you do know that when it comes to this situation on where recovery would really be coming up into your mind on which this is something that you would really be making out such act. This is a normal action to be done into those gamblers who are on such situation that they are already that making that huge loses and trying to cope up or trying out to recover at least some percentage of their loses or would be trying to break even via making up some wins with those last all in bets. If you are lucky then it might happen
but if not then it would be completely the period or finishing point of your gambling session and ended up miserable.

It will be more judgeable if the same condition stands for both the poor and rich in gambling, but how this will happen is not so obvious in my view. Take a look at it, the personality of the two matters and will always disrupt the equation. One may love to gamble so well, while the other may gamble once in a way. One may like to gamble a lump sum that is big, while the other seldom does that but gamble a fraction of the money per session. This is why I do not even see the debate of the better risk taker among the two as necessary. The money owned by the rich is deceptive at times because it depends on the fraction of your fortune you bet at a go as a rich person.

For instance, if a poor bets $1, that could be just 1% of his total worth. The same goes for the rich, you might see the rich betting with $500,000, thinking to be better than the poor in that regard, but technically, that could also be 1% of his total worth, which makes them bet the same worth (despite not being the same amount). This risk of a thing is relative to their purse, but it seems people are not looking at that. And to recover the same amount of money lost back, it may have the same effect on the two classes, so, I do not see much about this if all conditions are the same for both categories. Wisely, whether it is a poor gambler or a rich gambler, let us all apply wisdom. There is no sensible reason for us to be wasting money anyhow just because we can afford it. Even if we love gambling, the right budget and management are important.

Yo everyone believes the poor guy will risk everything because he is desperate and looking for all possible means to make huge winning so as to become Rich. This assumption is correct in one way and wrong the other way, you can't point out the fact that someone is poor and at same will lack sense of reasoning while the other because he is rich will know the risk involved In gambling.
As you have rightly said no on should risk huge regardless of the status.

I doubt one should consider gambling as fun. How is it fun? I think we do lie to ourselves when we believe this. No one can live a successful life while gambling or finance his lifestyle through gambling. We all gamble because we want to gain regardless of how you put it. So is up to your personal decision on how you risk, build your system the way it suites you. Whether we consider it fun or not, we will still risk based on our risk taste (tolerance) nothing changes.

Most time we make loses because of fear to take bets that should have given us massive rewards that would even cover the small losses we had in the past. Many time that I loses bet, it was because I never calm down to watch the bet very closely for me to earn more positive results. It is very important we check well and remove the fear that will keep telling us not to take part in some bets that could have given us massive profits as a crypto investor. Taking this measure will help us to earn more positive results from many of the vets we are taking. As it looks easy to make money the same way it looks to lose.

Yes, it is true that risk can bring you profit and it can also bring you down, but if for example we talk about gambling, in my opinion there is very little chance of risk being profitable, or that means not all high risk taking can make you win, but Yes, I admit that this is something that might happen, in the sense that if for example you are having very good luck, then taking risks will also produce quite significant results if, for example, you bet with high risk.

However, what is more recommended is to take risks that are within our own capabilities, because this is safer as a precautionary measure, but on the other hand, it doesn't matter if, for example, you want to take a large risk with the condition and note that you must be able to account for all possibilities. bad things that will happen are like losing, because in some cases it is usually very difficult for gamblers to stay okay when they experience large losses.

One thing many people have failed to understand is that gambling is better when it is considered as engagement of fun and not for the sake of making a living out of it and that's why a lot of people today have continued to risk almost everything they have in gambling in their quest to earn a good living through gambling or better still change their financial status quo using their wins in gambling.
The rich man knows that it's absolutely good to take risks but that's definitely not on gambling because he knows that the probability of getting a return from such risks are very slim so would rather not take big risks in it. But the poor man is always ready to stake every damn thing in his possession with the aim of winning hugely at the end which in most times doesn't end like they've thought. When it comes to gambling, I don't think it's a wise decision to take huge risks no matter the financial class of an individual

Some time risk is gain and also risk is loses,  thos is what we have to by into and for sure make plans to accommodate it as long as mange yourself well with it, most of the times, regardless of what class the gambler belong to, if he can take the right risk he will get the green result.

Most of the time also, I have experience this in my person gambling life, where I failed to take some positive risks that could have lead me to the big winning,  and this all thought alot of lessons on ow to manage risk better.

yes elevates, the risk is elevated
but even with a high risk endeavor a chad person can make money if he can manage risk well

if you do a 200x on 2% of your bets you can have 98% of your total amount going to zero and still be profitable
it's basic math but really interesting to think about it.

In that aspect the rich are quite advance in endangering their wealth compared to the low-income earners. The comparison should be on same category. If a low-income earner or a jobless player intends to be careful with his gambling activities, he wouldn't get into too many dangers. Compared to a rich gambler who recklessly wagers away his money in gambling. All these factors matter, but in a situation where they are both on same page of lifestyle, I think the rich player will easily gather some money to replenish, that which he's lost in the reckless gambling lifestyle. However, if he, the rich player doesn't consider making corrections to his behavior, he'll still waste his money again, till it gets quite bad for him to bounce back to his previous class.

First, let me start by saying that gambling is not, and should never be considered as a source of income, the poor man should get a job and work hard to become rich, rather than hope on winning and becoming rich through gambling, while the rich man who already have a job he or she managing should not relent, but continue to work harder and smarter for him or her to become even more rich, rather than hope or depend on gambling to do that for him or her.
Overall, all should respect the rules of gambling and enjoy having the fun, rather than gambling with a mindset of making money.

With the above been said, and in a more mutual context, I would say that neither the rich nor the poor has to risk more or less when it comes to gambling, taking risks is an individual thing, it has nothing to do with people financial class or level so to say.
I have seen rich men and women who are so fearful of losing their money to the extent they won't been spend money on good cloths to wear, or good food to eat, while on the other hand, I have also seen poor people who are very confident in themselves and could take any risk regardless of how much involved as long as it's within an amount they can afford, this is possibly why we see some poor people who borrowed money, sold their property to invest in bitcoin, while some the rich are very skeptical about putting a dime in bitcoin.

Overall, appetite for taking risk lives in different people and it's on different levels, regardless of their financial levels.

well as far as my experience is? poorer gamblers are more desperate to win and this leads them to wrong decisioning and the outcome are mostly they become losers.

that is a better attitude , but the problem is will all gamblers be able to adopt this in to their gambling activities? i doubt this will be as easy as that mate./

well to win or to lose? you must gamble and that is the reality that i believe happens here.

Casinos never look at the background of a gambler, no matter rich or poor, the point is that if for example he gambles in an excessive way such as not putting limits on his time and also on his budget then obviously he will become a target for casinos to make huge profits, or the point is that he will experience adverse effects that will lose most of his money. If we talk about rich or poor then obviously the casino will be happier if you are a rich person and gamble excessively because the financial level of the rich is stronger than the poor where of course the casino will get more profit from the big losses experienced by the rich if they gamble in the wrong and excessive way. So in terms of risk-taking in gambling it doesn't matter whether you are rich or poor, the point is that you should only gamble with the amount of budget or risk that you can afford if you want to be safe and a little avoid the long-term bad effects, that's all.

Alright Mate.
Generally we view that the rich is risking much as to the poor, which for me isn't right as we judge based on the amount and not the capacity of the individual. If the Rich risks $10k on a bet, is because he has the capability while if the poor risk $500 is still same system no one is risking much in a rare sense even if $10k is more than $500.

The truth remains the outcome of gambling (gain) depends on your stake amount (amount placed on the bet) meaning the rich guy will gain more compared to the poor guy if both wins same game because of the difference in there stake amount.
In essence the status only functions on how much each party risks, not really rich or poor as we can't really determine how much anyone would risk.
 The poor can risk more than the rich, let say the poor guy wins a jackpot of $50k and he decides to gamble with $20k out of the money, the person we consider rich might risk $15k on same bet, but originally the poor guy won't have risk such amount but based on the earlier winning such chance is made. So we understand that all we have said is subjective and based on the risk tolerance of any individual excluding social status.

The only difference here is that on their financial status or condition on which the other one does have tons of money and the other side does have less or on poor condition but doesnt mean that they would really be having that different odds on winning up on gambling on which it is really not right or typically wrong. It is really just that there are people whom do believe that being rich is something that has more chance or odds
on winning up on gambling without even trying to make themselves that realizing thats not how gambling works. Odds is always on against us and winning is something that would really be that totally be random
even if we do speak about dealing with luck based games or strategic ones. Winning will really be that totally random or does always matter on how lucky you are on that moment.

Risking more? Rich people would be risking more but the chance on gaining profits is big too in compared to those poor ones which is common sense but same goes with
loses that those poor ones would be losing up less but well this is something that they could only afford.

It is true that there is no difference between the rich and the poor in gambling. If a gambler can afford to take the risk of gambling then he  is worthy to take more risk if need. A gambler should have a good sense of risk taking. There are many gamblers who are not in good financial condition and if they take risks then they are likely to face disaster if they lose. Moreover, after observing what kind of target the gambler wants to set and how much they can control themselves emotionally, if they take the risk of gambling, they can definitely do well there. So it can be said that those who have the ability to take risks are suitable for gambling.