Topic: Rich or poor gambler, who should risk more? - page 6. (Read 9664 times)

I'm glad you said "you think" because I don't completely believe in that ideology, which claims that the rich don't suffer much in gambling, as I see both parties suffering almost the same thing in terms of their losses.
 
Let's take, for instance, that if an average person usually gambles with $100 and loses it to gambling, it will be very painful to him or her, and if the rich gamble with $10,000 and above and also lose that same amount to the casino, he or she will also feel the pain. If they deposit another $10,000 in order to make it easy to recover the lost one, the poor can also do that. Let us not forget that both gamblers will gamble with what they can afford and based on their income.

The thing is that when it comes to casinos and gambling, what we try to avoid the most are mistakes. The worst mistakes are when we bet too much, that is, mistakes with increasing the bet. When that happens and you lose, that's when the money goes faster. That's why it's good that when we bet we take into consideration our previous experiences and from there we can do things better, like betting and raising the bet but not so much that we lose money,  That's why adjusting the limit of money to spend is everything.

Yeah, the stability and well-being of any gambler should be a top priority kept in his own mind, I agree.

Well, that's the advantage that rich people have, where they have many ways and opportunities to recover but not through activities that make them lose money, but from other things or other alternatives that they have such as business for example.

As for poor people, I think it's clear that they only rely on one or no more than two places to make money, and even then the income is usually not very good, which ultimately makes it really difficult for them to recover.

So maybe in that situation poor people are much less fortunate than rich people, but in the end regardless of who you are, rich or poor, the point is to never take actions and decisions that are too dangerous in gambling, because not experiencing any problems as a result of gambling is much better.

A lot of gamblers don't have discipline and they are allowed their emotions to rule over them, the moment you allow your emotions to rule over you then you have lost control of everything, the first thing is to put your emotions under control as for me that is even enough because the moment you can no longer control emotions and you want to gamble then it is going to be difficult for you to control. And any money you are getting from casinos or gambling platforms. The moment you win, make withdrawal and do something tangible with the money because when you don't make use of it on time, you will only end up spending it back to the casinos and gambling platforms so first of all make you draw get anything you have in mind to be on the safe side. And if it is about losing either being poor or rich, this is something you cannot avoid, but there is something you can actually avoid by putting your emotions in place, the moment you're able to do that I don't think you have any other problem with gambling because sometimes emotion can naturally lead you to greed and the moment she starts being greedy you end up being addicted also.

I may agree, but, as you said - it's if putting it all onto one session, which is not how things are done even by the rich And shouldn't be done by anyone, really.

you are correct that a rich person has more disposable income and will end up being able to afford losing more often but this is if they're not exponsing themselves to the risk of ruin
you know?

if someone bet it all and simply all in with their full stack they can end up poor at the blink of an eye
I saw this happening more than once and it's not beautiful

Yeah, I think that's a valid point. In the end the rich person might have a method to generate money, so even if they lose all right now, they might be able to generate it easily.

On the other hand, the poor person might simply depend on a job to pay for his salary, and if that person gets fired, and loses at the casino, then it is really hard to get back on track.

It all depends really...

Yes indeed, having discipline will allow us to control our greed because after all, continuing to do it because of high desire will not be good either. Maybe, for some trials we get benefits that make us feel like doing it continuously. But anyway, if it becomes an addiction, it will surely ruin you one day. With that said, I also think that all gamblers will have their own risks, and it's not about being poor or rich.

Therefore, it would be the right choice for gamblers to only bet with money that they are ready to lose. Because that way even if we lose completely at that moment, at least it doesn't make us regret or something else negative because we only bet with money that is ready to lose. In this way, every gambler, whether poor or rich, will still be fine even if they get bad results.

For this reason, we as players must be very clear about our plans, and also very clear about our need to have great discipline, that is why when we are generating money in a casino we must withdraw it as soon as we reach the withdrawal limit, it does not matter that deposits must be made later, but it is the best way to avoid problems later on, I know that emotions and impulses are what dominate us the most sometimes, but what must be done is undoubtedly have the Discipline to say no more and withdraw.

To sum up what you said in your post is that if both the rich and the poor use an amount that they can afford to lose if not they will run at loss because it can trigger them to chase their losses which will lead to more losses. If they also set a gamble budget like you said it will help them not lower their losses but when there is no gambling budget, they can incur more losses. So what applies to the rich also apple to the poor in gambling. When you gamble irresponsible, you run at big loss.

In my opinion, if the risk percentage does not change between rich and poor, the rich person perhaps has a better chance of recovering the loss but the loss is a higher percentage and therefore really creates many problems in this regard. The poor man loses little but it is hard for him to recover. So there are pros and cons.

They may be risking the same percentage of their savings, but in an example like yours, absolute numbers play a significant role. And here, not only the percentage will be taken into account, but also the equivalent of this percentage in real money.The strategy of the game will also depend on what exactly this 1% is, which amount of dollars is it. A person won't risk 10 dollars and 100 dollars equally, despite the fact that this may be the same percentage of different deposits.

By the way, 1% from $1,000,000 is $10,000, not $100.

If the strategy is wrong, even if he is the president of a country, he can lose money by gambling. In gambling, gamblers have to apply proper strategy as well as rely a lot on luck. A rich person and a poor person have equal skills and have equal gambling experience but if luck favors either of them, the result will go in favor of that person. The difference between a rich person and a poor person is that rich people can gamble non-stop because they have a lot of money whereas a poor person earns money first and then spends a part of that money on his family and gambles with the rest. Rich and poor people cannot expect so much in gambling. If there is a small profit to be satisfied, if there is excess greed then it will not take long for a rich person to gamble and become poor.

They may lose everything they've prepared, but they have a lot to spare, whereas someone poor - probably not Of course, if a rich person isn't responsible at all and can't see the bigger picture - he will go all-in all the time losing much of his fortune.

Rich and poor gamblers must allocate the money that they can afford to lose. That is the important thing that all gamblers must do so they will not break their limitation when playing gambling. The risks of playing gambling will always be there so all gamblers must understand how to manage risks.

They don't need to risks more money if that will makes them lose that money because gambling can takes all of their money without giving any winning. They must not risks more than they can afford to lose because that can make them feel sad and regret so that is why all gamblers must care with their money and not let them use much money.

Accepting and be ready with the risks and always trying to minimize the risks not to becomes bigger is something that all gamblers must do whether they are rich or poor gamblers. The chance of losing will always be there and if they can prevent the risks becomes bigger, their losing will not be big instead will be the money they can afford to lose.

If rich and poor gamblers can playing gambling using the money they can afford to lose, they can avoids the big risks of losing so they will not have to worry with the big lose. They will not be in a hard situation whereas they lose much money and difficult to stop from playing gambling. Limitation will helps them to know when they must stop playing gambling no matter if they still have money in their account.

You are right, that will depends on how we can deals with our money and with our gambling activities. We should know how to manages all things that we will to do with our money. We can not let our gambling activities use much money because we have many things that needs money so we must be wise using the money.

Even if we don't have much money, we must smart to allocates the money for all things and not just uses that money for playing gambling. We must remember that we must survives and fills our daily needs with our family. If we can manage our money properly, we will not have a problem to pass our day with our family.

No one will want to get big losses from gambling even for rich people so that is why we must prevents the big lose by always limiting our bet amount and how much money we will use. Rich and poor people will have the risks but the risks maybe will not be the same because that will depends on how much money they will use to playing gambling. Having much money that doesn't mean we can use much money to playing gambling but if we can limit the amount of money, that will helps us to prevents the big lose.

Poor people must not use too much money to playing gambling because they must think how they will fills their daily needs. They will just risks their money if they use too much money and the effect that they gets if they lose that money will be difficult to fills their daily needs. But it is better if poor people not playing gambling so they will not risks their money in the gambling games and they can fills their daily needs.

I myself do not want to experience big losses again, therefore gambling moderately is better than excessive. Unstable finances are certainly an unpleasant situation but do not put high hopes on gambling thinking that you can get money with gambling is not recommended at all, and the other side is for those who are rich with having a lot of money does not mean they have to gamble continuously, because the risk will be greater when they can not stop betting. In addition, the risks in gambling cannot be avoided so they have no choice but to accept the risk if they continue to gamble non-stop and losing money is something they must accept too.

its the reason why they are still poor they gamble their salary, if they only know how to save and then do some small business at the start they will not be poor forever, but we can't change their mentality and outlook in life, they think that luck will bring them at the top, they did not know that you have to work hard for it everyday, working 8 hrs a day is not enough if you want it bad.

makes sense that they get it from the API
regarding the lags, it'll probably vary from connection to connection and website to website, the thing is that past data won't be enough to try to guess the future, but some techincal analysts can use it and beat the market over time
it's not easy but it is possible to be done.

I don't agree with this at all.

Rich people lose all their money, all the time.

You can see it live if you go to a casino. I wouldn't recommend it, but it happens all the time.