Topic: Rich or poor gambler, who should risk more? - page 54. (Read 9655 times)

Suppose I have a lot of money, that means I have more money to waste, and those who are poor have less money to waste. Rich or car is not a matter. Everyone should spend 1-5% of their income on gambling. can use more if he can afford to lose. So gambling depends on your risk tolerance.  That's the amount of risk you should take. But I think the less money you spend on gambling, the better off you will be.  Because even if gambling wins you several times, you cannot cash out the gambling money at the last minute. If you continue to gamble, you will lose all your money, it is called gambling

That said argument has value, though there's also some incident that a rich person gamble everything including his business, a heavy addicted gambler can take that risk without thinking if what going to happen with him after, it's a case to case basis but getting your point in terms of a poor gambler, they mostly do a yolo putting everything they've got and risk with their luck.

ost of the time they lose and they suffered from that mistake, then they will just repeat the same way and continue to risk more than what they can afford to lose.

When it comes to gambling, we generally over-examine the risk and who are ready to take risks are suitable for gambling. If people who have adequate money they can lose their money in gambling, it will not have a big effect on their life. But it will definitely have a big impact on those with less money. For this we can say that the rich can take more risks in gambling which may not be possible for the poor. But it is also true that only money does not mean that a person can take more risks and a gambler has to consider several factors in taking risks. If the gambler has good knowledge and skill then he can take risk. After considering the gambler's goals and intentions and considering his mentally., the gambler can determine his level risk level.

I could not agree with you. Those who are rich people might have good earning source. But after the cost of that person the person might have not too much fund to waste. The more you earn the more you have to cost.

In gambling, risk will always be present and every gambler who starts betting is really faced with various risks such as losing, losing money or even the risk of changing attitudes such as becoming an addicted person.
But it is true that rich people are much better at managing money and also minimizing losses.
It just that not all people are rich, but those who have business spirit because a businessman has very capable mindset in management and various strategies.
For most of the rich people out there who are only supported by their parents background or inheritance, I not sure they can have good management and many members of rich families have lives only filled with useless things.

Everything will still look the same and the only difference is the attitude they have and how they have background in living life.
However, there are also some poor people who are able to control every activity in gambling with sense of responsibility and have good boundaries because they realize that making money is very difficult.

I myself have had various experiences in gambling when I was financially adequate and also when I was at the bottom with financial shortages, this really gave me different attitude when gambling.
Risk taking is sometimes often fooled when gambler is in certain conditions, but when they have truly patent attitude then they will always be able to be stable in whatever they do, always with careful consideration.

having cashflow changes everything
I think you're probably right on your first statement and having a flow of new money every month will give rich people more disposable income and more possibility on spending with whatever they want... gambling included

Rich people usually have a constant source of income, and that's why i don't think rich people can risk more, the fact that they bet larger amounts it doesn't mean they risk more because if they lose all the money, tomorrow they will start receiving money again in their bank accounts. The poor gambler usually doesn't have a source of income, that's why he is poor, and risking all his money could get him in trouble more than the rich guy.

It's not every rich individual that's gambling for entertainment, some of them are gambling as they want to make more money, money is never enough as you'll always want to have more the moment you have some therefore there  are some rich individual who are still searching for more riches by gambling. We also have some poor individual that aren't gambling for money but to get entrainment. They don't do this all the time but for sometimes they're only gambling as they want to have fun.

Risks should depend on the individual that's playing as not everyone can have the same risk limit. A rich individual mightn't have the same risk limiting as an individual that isn't rich or poor but is comfortable with the income that he has and want to entertain himself through gambling for that day. This individual can bet large sum of money and won't get angry if he losses it as he has gotten the aim for the bet.

[Gambling is 50/50 and the loses in gambling is more than the wins in gambling. And I thank God that you made mentioned of "rich". Those who are rich and playing gamble, they are playing for fun and entertainment and not to find or look for money but the poor who is even struggling to eat three times a day must gambling for money and not for fun or entertainment. Therefore the poor are more risky in gambling because it they loss there would be no food for them to eat at home and that is unlike the rich gamblers that even though they loss they still have food for their table to eat.

Of course it will not change the situation, even if we gamble using the exact same steps as the streamers the results will not be the same, also with the defeat that makes our emotions peak and blame the streamer it will not have any effect. I agree with you, gambling is not intended for people to get profits quickly, there is no guarantee about it even though the streamer directs the steps to get a profitable victory it does not definitely guarantee. The number of people who are tempted by the promotions made by streamers is indeed the weakness of many people.

Even if you follow the directions or steps of the streamer, of course the end result will not be the same. And if you lose and then blame the streamer it is a futile way, just a waste of time. With the defeat that occurs it should be accepted, not making an issue of it is the right way. There are indeed people who require themselves to get memories before quitting but that in my opinion should not be done, because it is the same as forcing themselves to win, while the fact of gambling will only give defeat. It's true what you said about chasing losses, by forcing themselves I think they are only chasing losses not wins.

I think everyone knows that rich gamblers can put a much larger budget amount but something that I have in mind is that I'm not too sure they would actually do such an action or I mean gamble with a large budget or risk, one of the reasons is because rich people have a different perspective on money than poor people, they will only put a large budget amount on something that has the potential and guarantee to get a much bigger return, or what I mean is that rich people will only prioritize something that basically has certainty in terms of profit such as business or other things, and that means they will not want to put a large amount on gambling because after all there is absolutely no guarantee to actually be profitable at the end of the session. So rich people will take into account more from various sides before they really decide to put a large amount of budget and I would say that the intention and purpose of rich people gambling most of them just want to find entertainment when they have free time in the middle of their busy life.

But actually the idea of taking a large amount of risk should still be avoided whether you are a rich person or a poor person because obviously even if you are a rich person if you have an overly aggressive approach to gambling then it will still make you end up a poor person, so anyway taking a low risk according to your ability is more recommended because this is also for your own safety.

Having grudges for the streamer doesn't solve any problem for the gambler, because he, the player, wasn't taken by his hands to gamble like the streamer. Removing such thoughts can help the player relax his nerves and focus on wagering few amounts of money. Gambling is not meant for people who are on the search for quick profits. And that's the weak point the streamers are utilizing while promoting big wins on their platforms, with money sponsored by the casino. Nothing comes easy, but newbie gamblers think that money can be made easily via gambling. However, they end up finding out that their thoughts were wrong all along, instead of accepting the responsibility they end up blaming the streamer. Since they don't take it on themselves that it's their fault, they'll want to prove it by wagering more money to get their funds back immediately. Some also conclude that they must hit one max win before quitting gambling. Numerous self-determination that keeps gamblers to continue chasing losses.

And that is the reason that they keep making money. They are ready to take risks at all levels, and that is how to become rich and make more money, but for a normal, average person, all they care about is how to manage money and how they will not lose their money. That is one of the strategies that they are using, and the average person is not getting it at all and not taking risks. I know that when it comes to situations like this, it is always difficult for the poor to make ends meet. They will be like, What if they use the money for something else? Gambling has been lucky there is no way you won't lose money, so just do it the way it is for trading and manage your emotions. That is also how you are supposed to manage your emotions when it comes to gambling. The choice of taking a risk is there to be decided.

this reminds me of a headline I saw this days saying that Bill gates' children will only receive 50 million usd each, less than 1% of Bill's total money
because having huge sums wouldn't be necessary and would remove from them the possibility of pursuing it

on Atlas Shreded, Francisco D'anconia also mentions it, the idea that for someone to receive their heritage they should be able to generate at least that same amount by themselves.

I think we should at least be fixed here so that we do not get to relate this with different aspects of behaviours. The OP is mainly about the rich and the poor, and not about the different behaviours of the rich and the poor as individuals. But if we are trying to point to different behaviours like you guys are doing, then it will be so elaborate and it will be on both sides for the good and the bad because both the rich and the poor have their bad sides, it only depends on what we are discussing about them. Without going further into the different behavioural parts, one thing that is certain is that the poor will always be at the mercy of money, they can't just have enough, and for this, they can't be able to gamble much with it. Though some will try to be consistent about gambling, they can divide their money into fractions and try to have more fun and try their luck with each fraction.

But still, they can't drag this with the rich, the rich are rich and they have enough money to gamble and even waste. You may call it squandering or anything, regardless, one thing that is certain is that they have it in multiples, so they are the ones who bet more in volume when it comes to the amount they bet with, and I know that casinos will be praying to have more rich players and not the poor ones. That's just subjective as well because this is so different from consistency, and when it's about consistency in gambling, I will not take either side but view it based on individuality with the budget, plan and personality as some of the factors to consider.

Rich gamblers can use their money well in gambling. Moreover, they can bring a lot of money to gamble so that even if they gamble for a long time, it doesn't impact them much. Rich gamblers use gambling as entertainment even though they gamble with a lot of money because they also want to have fun with their money after making huge profits. However, gamblers who are not rich cannot follow what rich gamblers do because of their limited money. However, the risk will still be there for rich gamblers and not-so-rich gamblers, and it will depend on how each gambler can anticipate the risk so that it doesn't increase. That's the only important thing, so you don't experience a big defeat.

Rich people can risk more but I don't think that it's a necessary thing for them to do anyway, there's no way that it's a good idea to risk more and it's a bad idea if a poor person that's already trying to make the ends meet risk more money than they should so there's really only one choice here. It's a hypothetical situation anyway so to everyone that didn't catch the drift here, make sure not to be too risky with your plays especially if you're putting a lot of money make it worth it and make sure that you still play for fun even if you've got a strong desire to win.

You would really be only having those kind of realizations on the time that you would really be on a shit situation on which you would be thinking up on how the heck it did happen or simply on whats happening on the current situation you are in. On the time that you've seen that you are on a tough situation then this is where adjustments would be made but well the damage has already been done on which you could actually be able to avoid it if you are really just that mindful into your actions then you could really be actually be able to avoid it. In regarding on the question on whose gonna be risking more? Poor or rich? It would be just the same on which for example as a spending up money would really be the main reason on why both would really be doing or engaging to it.
On the time that you are already chasing profits or longing for profits then this is where issues been raised on.

And because they did not had to earn that money they do not know what it took to do so, so they are very open to squander that money away in any way that suits their fancy.

That is how you get horror stories of people that had their life resolved when it comes to money matters before they were even born, and then they find themselves penniless and with no idea of how to keep their expenses down or how to earn a decent salary thanks to their skills, as they have none.

The rich gamblers are the person who play the gambling for the entertainment,most of the rich gamblers had their own money from the regular sources like business.So they choose the gambling for the entertainment,the emotional decision doesn’t have any role in the game.Because they won’t hurry up to the game winnings,So they won’t take any risk in the gambling site.The rich gamblers can easily get the knowledge about the gambling games using their money,but the each dollars was important to the poor gamblers.So they never take any money risk in the gambling site,when that money was most important one for them in other purposes.