Topic: Rich or poor gambler, who should risk more? - page 42. (Read 9664 times)

Maybe there is some truth in what you say, but although the ability to bear losses can be a factor in taking risks, I don't think it is entirely true that rich people and poor people are equally open to risk. Where poor people often have a higher risk than rich people, this is because poor people have very limited funds, they will not be able to afford to suffer large losses. Besides that, regarding the view that those who have a risk management system are quite valued in gambling, this does not always reflect the existing reality, because many people join in gambling without thinking wisely about the risks and losses they incur.

An oversimplification is to state that the way you win is what counts in gambling, irrespective of whether one is rich or poor.
The economic well-being of a person can significantly determine their choice of a gambling option, which in most cases may influence how long they can hold out on losing before calling it quits. Hence, a person's social and financial status cannot be completely taken out of the gambling equation.

OP am also confuse, because I don't understand how someone will gamble be it rich or poor and not play safe. Whether one is rich or poor it geared towards the level of there risk tolerance in which both risk based on what they can afford to lose comfortably.

It is interesting to know that to stay safe one must consider the risk involved before thinking of the gain, those who have a system of risk management are appreciated in gambling.
So it doesn't matter the social status in gambling, the rich or poor are open to there own decision and gamble the way they choose.

And as such OP, there are two outcome in gambling; Win or Lose.
It is based on how you win, and keep winning more than you lose that determines everything. Nothing really whether you are rich or poor.

that's true
but something interesting most of us agree on is that even if being rich gives you more freedom and makes you calmer regarding basic problems in life (buying food and paying everyday bills) it won't nevessarily give you a really important thing: emotional awareness
you have to pursue it by other means, not money,

We do have differences in terms of treating our gambling activities and same with your opinion as long as you can control the amount of time and money that you'll going to spend then there's no problem and you can prevent yourself getting addicted, though most of the time, addicted gamblers always pretend that they are still in control but unknowingly over exceeded from the suppose allocated budget that they originally set up.

Those kinds of incidence may push you to add more and you'll only know that there's already huge amount that you already lost, both rich and poor can experienced that as there's no exemptions inside gambling mistakes can be done by both parties.

I think the same too and I noticed that when I have more games, my chances of winning reduce but if I have fewer games I increase my chances of winning. I'll rather bet on one game and put an amount I can comfortably lose than to accumulate many games and put in a very small amount. As you keep losing small amount, you won't know that you're losing money until you accumulate all your losses to see how much you have lost for the period that you have being gambling.

A rich man will bet with a very large amount of money on one game and win big rewards but the poor gambler will think the more he's accumulating games and increasing his odds to use a small money to gamble that he can be lucky to win a big amount and sometimes they gamble for so long and they don't win but have been losing money always that if they finally win they mightn't have much profit left.

Seriously speaking, I don't see why gamblers who are familiar with viewing premier league once or twice per week, would pick clubs they don't know in Italian leagues. Your strategy is fine, gambling on teams you are sure will win more than losing in the premier league. However, greed has influenced gamblers, especially low rollers, to blindly gamble for an endless stream of wealth. One aim which like the Red Sea will be hard to cross or achieve. Building up analytical knowledge on a team is a gratifying exercise as a gambler. The losses will be lesser for the gambler. An advantage to smoothly enjoy the gambling process, and no snowing under with work, searching for teams, and analysis. The teams you listed above can surprisingly perform better than most teams in the premier league. And fully deserve to be staked money upon.

Unfortunately, they don't play matches on the same days. Hence, naive low rollers, wouldn't care about a strategy that insists on picking four games or below. Instead, due to the wealth they foresee, the player will pick up more unknown teams to boost his results on the gambling slips. Such behaviors only attract losses rather than wins, unlike gambling on well-known teams. As you said, the teams we watch their matches are better off, compared to strange football teams from unfamiliar leagues. What is the essence of wagering money on a team, one wouldn't watch play. That's a blank idea of gambling. Money fuels such ideas, but painfully the gambler loses. Yet he'll repeat similar mistakes next weekend. Sure, wagering low amounts on a few matches, when we win, attracts lesser profits, but at least there was a win. And it feels better than losing.

Gambling may offer the allure of quick wealth, but the reality is that it often leads to financial losses rather than gains. Diversifying the income streams and investing in ventures with more stable and predictable returns is generally a more sustainable approach to achieving prosperity. Those people should just seek a job, start a business, invest in stocks or real estate or pursue higher education or skill development for better career opportunities.

The inherent nature of gambling is stacked against the gamblers, making consistent profitability unlikely for the majority of participants. There may be some people who have achieved wealth through gambling, but they are indeed a small minority compared to those who have suffered financial losses. Prioritizing long-term financial stability over the allure of quick wins is better option than what gambling may promise, because the risks associated with gambling often outweigh the potential rewards in the grand scheme of financial planning.

It is very true, the truth is that playing every day is a direct path to a possible addiction and that is something that must be avoided at all costs, I don't know how other people see things, because each person who makes their own bets and plays as regularly as possible.

I say that amount because looking at the amount per month, it is something that is considerable, I would say that perhaps the best thing is to do as you say, on a Saturday to play and have a good time, that is not bad, plus when we are on a weekend It is better to share as a family and then take 10 minutes or 20 minutes to play, it can be done like that.

If we like casinos and we like to gamble, then in some way we must do what we like, we must not inhibit ourselves from doing the things we like, but do it responsibly, without going down the path of addiction, that is what more important.

People who think gambling is the only method to eliminate poverty from their lives, they are taking a complete wrong approach towards this activity. Most gamblers are going to lose money the more they play, therefore for most people it's not going to work as a financial life changer. Even if they aren't addicted gamblers, they can't expect gambling to turn their lives around, because that is not what this hobby activity is supposed to do. The debate about gambling is going on through the internet for a long time already and we have already discussed it here many times.

The conclusion is pretty simple: if the goal is to make money, to thrive financially and to achieve prosperity, the individual should seek for alternative ways to do it which don't involve gambling with his money, or at least which don't involve gambling with a large portion of his money, because the chances are that it's not going to end well after a while... Very few people achieved richness through betting and it will be always like that, because that is the nature of the game.

I don't know about other people's gambling experience,  and I will tell that if you want to win... limit the number of games on the betslip to tilt the odds in your favour and put a decent amount of money that you can afford to lose, but the second you choose to inflate your winnings by making  some insane accumulator your winning chances are lowered instantly !!!

So coming back to the topic, I assume if the Rich gambler isn't taking risky bets then they are more likely to be profitable unless they are greedy which guarantees a bust , but for the other person without the needed funds to stake.. for a tangible profit to be realised they are likely to take  much higher risk as they try to win big from smaller amounts.

many people does not know the actual time to gamble they thought that gambling is meant for everybody and the gambling is a only source of way of eliminating poverty but they don't know but gambling can even make them to lose whatever thing they have because when you are addicted in gambling you cannot do without the gambling you will be gambling almost every day by day and if you are lucky then you benefit from it and if you are not lucky you lose whatever thing you have true gambling that is why it is good to be a pensionable worker before you engage in yourself into gambling

There is no strategy to win in gambling even though you have recorded the game pattern but there is no guarantee of getting the same winning pattern, remember gambling patterns and strategies do not apply in gambling, everyone knows gambling is very risky for anyone and it doesn't matter whether they are rich or poor, but that doesn't mean people who take risks will win but those who take risks will be prone to greed, so control gambling by understanding the problems that gambling must avoid, change your mindset not to get wealth from gambling but focus on gambling only to enjoy pleasure, don't forget to always set limits funds according to your income level and the recommended 5-10% is not too high a fund to gamble for a month and even if you lose it doesn't result in high losses.

Everyone does have that equal chance of losing and winning but just like mentioned that poor ones would really be having that greater disadvantage considering that they are poor and once they have lost those bets or gambling money then they would become that even more poorer.   It would really be just that taking up some realizations of a certain individual whether they would really be that trying out to pursue on something which
we know that once you do bust up yourself then it would really be that so damn hard to recover and this is why it would really be just that right that you should be thinking up realistically on how you should be dealing up with things.

Dont make yourself that get blinded by greed because once you do make yourself do lose control then expect that extreme devastation when it comes to financial aspect is something that you would really be
able to encounter or something that you would really be able to experience into your life on which this one would really be ended up for you to have that huge regret
into your life because of what happened.

That is actually coreect. You know gambling is really for the rich and not for the poor just like you said, that if the poor lost some amount of money, they will panic or become navours of there lost. because there is no steady stream of income to back up there gambling life. but the rich can easily adapt to any system. even if they lost they can be able to continue because they have enough money.

Rich or poor, everyone experiences human pressure in gambling even if there is a strategy. No one can ignore that pressure. Moreover, there is no security in the strategy. But even if a rich gambler loses money, he can quickly arrange his money, which is difficult for poor gamblers. But looking at gambling we can at least say that everyone should take risks whether the gambler is rich or poor. It is not possible to win in gambling without risk. People who can't take risks or bet the kind of money they have to lose are not eligible to bet. Both the rich and the poor must be able to afford the risk. If only the rich gamblers take the risk then only they will win and the poor will only lose money.

Both are the same because playing gambling involves the same risks even though there is a difference in the amount of bets, but usually poor people tend to take bigger risks because they want to win big from the gambling they play, whereas most of the rich people I see gamble just to have fun, but with big bets there is also a big risk, but they still consider it entertainment even though there are a handful of rich people who want to make money from gambling too, but that is the difference from the amount of bets they spend, but they only play at the same risk in gambling.

Every gambler will definitely lose gambling regardless of whether they are rich or poor as long as they gamble according to their budget and don't overdo it, they won't lose a lot of money because they will play in a controlled manner. What you also need to realize is that every gambler must play at their own risk according to the amount. the bets they place, the bigger the bet, the bigger the risk, but the smaller the bet, the smaller the risk, it all depends on the amount of the bet, but basically there is no difference between the rich and the poor. That's just my view and it may be different from the views of other friends on this forum.

So this would mean that the poor should invest less but i think even if the person is rich, he or she should also invest less in a single bet or game. Since gambling is risky, why would even a rich person take a risk of putting high amount of money (even though he or she can afford to lose that money) ?

The more you gamble with care and taking less risk, the higher are the chances that you can longer remain in gambling and keep enjoying while making small incomes. The moment you try to become greedy, take big risks you will start to lose your money and your portfolio.

For me, no matter you are a poor gambler or a rich gambling, in both cases, there should be no need to invest more.

Although the rich are constantly getting money from various sectors, if they become too deeply addicted to gambling, then they will continue to spend a lot of money on gambling and will not be able to back up their income for their other expenses. so whether a person is rich or poor he should play a small amount of gambling which does not make him too addicted. and he can lead his life in relax way. and thus they will save themselves from some great harm

That's the difference because the rich has an advantage over the poor in terms of gambling because even if they lose some amounts of money it will not easily affect them because they have were the money is coming either on a daily, weekly or monthly basis, so when most of them gamble they put a lot of money with to get big return but in terms of the poor they can easily get very emotional if they lose a certain amount of money because they don't have were a lot of money is coming from on a monthly basis, so that's why is always advisable for people who doesn't have much to always gamble with what they can afford.

Here's the difference. The rich have a lot of money to put in and they just need a small percentage to win and they will be happy with it. On the other hand, the poor have little, that despite of making 10x they are still dissatisfied so they get greedy resulting to losing their winning position. Both probably have the skill to gamble but not the same management on profit and risk.

If rich have 500,000 and make 10%= +$5,000 they will be happy with it
If poor have 500 and make 100%= +$500 they yet they will be greedy and bet more, so they lose their initial win.