Rich or poor gambler, who should risk more? - page 60.

tottong

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Quote from: SeaCoinCollector. on February 07, 2024, 11:44:50 PM

Gambling should not be based on their wealth but rather based on their financial situation and risk tolerance. Gambling is a game of chance, you must only take risks that you can afford to lose.

There are some people who specifically go to casinos to gamble and usually they have much better finances, so gambling at casinos by inviting friends to gamble together is a form of routine activity that they carry out once a month.
Wealth can encourage people to control gambling for fun. The problem that arises is that people gamble when the level of income they receive is unstable, thus affecting their finances in fulfilling their lives with their families.
These are two different cases and people who gamble with stable money are much more in control even though there are also some who lose. Poor people take much greater risks compared to rich people who gamble.

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Quote from: HelliumZ on February 07, 2024, 09:53:11 PM

Quote from: chaser15 on February 07, 2024, 05:48:10 PM

~snip~

In gambling, both the rich and the poor will have equal ricks. The amount of ricks will not depend on the probability, but the ricks will depend on the amount of who is betting what amount. The same form of your two sentences would make sense if rich people bet higher amounts then there is a possibility of bankruptcy and in that case the ricks depends on his amount. On the other hand, if a poor person loses a bet, he will become even poorer, depending on the amount of the bet. In this case, there will be risk in both cases, this is the eternal rule of gambling.

I agree with you and indeed rich and poor will still have the same risks and of course they bet based on the financial strength they have, rich people will probably use bigger bets and poor people only bet on small amounts of money.
The risks taken will be based on the consequences, rich people may go bankrupt but poor people will lose money and have difficulty making ends meet.
Based on the gambling probabilities of rich gamblers and poor gamblers, they will definitely be different, but what they actually get is the similarities that each gambler feels, but the difficulty in this case depends on how they can accept and overcome it or not.

When we see poor gamblers gambling we will find how they risk their last money and of course they will be the same as risking their lives because after losing they lose everything with nothing left.
In fact, poor gamblers will find it more difficult to face every problem that occurs, but that is their choice and gambling and living life will both take risks.

SeaCoinCollector.

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Gambling should not be based on their wealth but rather based on their financial situation and risk tolerance. Gambling is a game of chance, you must only take risks that you can afford to lose.

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I don't think it is a question of should or shouldn't. In general, someone wealthier is going to tend to play at higher stakes as a matter of percentages. A multi-millionaire can lose tens of thousands of dollars in a one night session and not bat an eye, as what he lost is a small percentage relative to his wealth. There would be no point in playing smaller stakes because it would not be exciting enough and a multi-millionaire is not going to find it exciting to walk away with $100 profit if he has a good session and wins that night.

Quote from: traderethereum on February 07, 2024, 10:45:08 PM

Not really, because poor gamblers, with all their limitations, especially limitations in terms of capital for gambling, should have less risk. Rich gamblers are more risky because they will use more money to gamble.

Less risk in absolute terms but not in relative terms. Let's say that someone with an annual income of $0.5M can leave in the casino with little risk to his finances 1% per month, which would be $5K. Someone with an annual income of $50K should leave a maximum of $50, which is much less in absolute terms, but still 1% of their annual income.

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Quote from: chaser15 on February 07, 2024, 05:48:10 PM

Rich or poor, once they lose, they lose. There's no Math in there. Both will suffer the same result.

- If these rich gamblers aren't able to control spending huge money in gambling, they will face bankruptcy soon.
- If these poor gamblers aren't able to control spending huge money in gambling, they will end up being in a much poorer state.

Who should risk more? That's not how it goes. Should be, be responsible at all times either rich or poor.

Gambling involves both rich and poor gamblers alike. Gamblers who have more money in gambling have more risk in gambling. Likewise, rich gamblers gamble more money when they gamble, for which their gambling risk is higher. Since poor gamblers have a low risk of gambling with any amount of money they gamble, both of them will go bankrupt if they both lose their gambling money.

Who wants to take more risk in gambling depends on his money. All gamblers think that they can earn a lot of money by gambling for which they spend a lot of money on gambling even in the end they lose their money from gambling. I think this is more for the poor because they choose to gamble to get rich and then lose the gamble and become poorer instead of getting rich.

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A gambler may not decide to gamble depending on whether he is rich or poor, and if he decides to gamble, he may never decide to gamble because he is poor, so he has to take less risk, and on the other hand, he is rich, so he has to take greater risk. Gambling is already risky but the risk taking propensity is not understood by the rich and the poor. There are many rich people but they are not inclined to take risks and there are many poor people who like to take risks. Risk taking is entirely up to the individual. But those who gamble, rich and poor alike, take less and more risk. The less risk a gambler takes in gambling, the better the outcome of gambling because gambling is extra risky, so an investor should not take this extra risk even more.

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Quote from: Pumared on February 07, 2024, 10:30:06 PM

I believe it depends, as both can see a bet that is very advantageous and both will risk more. But speaking of proportion and amounts bet, the poor will take more risk compared to the poor proportionally.

Not really, because poor gamblers, with all their limitations, especially limitations in terms of capital for gambling, should have less risk. Rich gamblers are more risky because they will use more money to gamble.
However, poor gamblers can be at greater risk if they then decide to spend more money than they usually use. And at that moment, the risk of losing your money will immediately increase.
In gambling games, a person must pay attention to the risk of losing money and try to reduce the amount of money lost so that it does not increase. But most people will forget to do that because they increasingly want to get bigger wins.

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Quote from: Sandra_hakeem on February 07, 2024, 04:43:00 PM

Obviously the rich... That's the way it ought to be - cus if you look at it critically, you'll realize that the Rich guy would wanna stake way higher than the poor does, with some few odds to catch up with ...

but unfortunately, that's not the case in our society today... Most middle class gamblers would even stake their lives over a single game if they had the chance to - this is something a rich man can't even dare for a second... What does that prove to you?

Sandra 🧑‍🦰

I believe it depends, as both can see a bet that is very advantageous and both will risk more. But speaking of proportion and amounts bet, the poor will take more risk compared to the poor proportionally.

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Quote from: chaser15 on February 07, 2024, 05:48:10 PM

Rich or poor, once they lose, they lose. There's no Math in there. Both will suffer the same result.

- If these rich gamblers aren't able to control spending huge money in gambling, they will face bankruptcy soon.
- If these poor gamblers aren't able to control spending huge money in gambling, they will end up being in a much poorer state.

Who should risk more? That's not how it goes. Should be, be responsible at all times either rich or poor.

In gambling, both the rich and the poor will have equal ricks. The amount of ricks will not depend on the probability, but the ricks will depend on the amount of who is betting what amount. The same form of your two sentences would make sense if rich people bet higher amounts then there is a possibility of bankruptcy and in that case the ricks depends on his amount. On the other hand, if a poor person loses a bet, he will become even poorer, depending on the amount of the bet. In this case, there will be risk in both cases, this is the eternal rule of gambling.

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In my opinion, poor gamblers are at greater risk because if they lose a lot of money they will be confused about recovering their losses and if they only have a little money left and gamble they hope the money can double and hope it can make them rich, but if it turns out the money runs out and experiencing continuous defeats, he no longer has any money and experience deep sadness because that is the only money he has left and if he does not accept these defeats he might take out a loan to continues his gambling.

While rich people definitely have a business, it's impossible if they are rich they don't have a business, so even though they gamble it won't affect them, they also know that the risk of gambling is losing, therefore they gamble just for fun and if the money they use run out they can still gamble because they have a lot of money, so it can be concluded that poor gamblers are more at risks of getting poorer if they cannot control their spending.

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Quote from: chaser15 on February 07, 2024, 05:48:10 PM

Rich or poor, once they lose, they lose. There's no Math in there. Both will suffer the same result.

- If these rich gamblers aren't able to control spending huge money in gambling, they will face bankruptcy soon.
- If these poor gamblers aren't able to control spending huge money in gambling, they will end up being in a much poorer state.

Who should risk more? That's not how it goes. Should be, be responsible at all times either rich or poor.

Exactly, rich or poor will really be able to have the same fate in gambling, as you said that both backgrounds have the same possibility in gambling, both will have the possibility of the same consequences and impacts but the difference may be the different amount of loss. However, casinos never differentiate the background of a gambler, no matter whether you are rich or poor if you are basically involved in gambling then obviously you will be able to fall victim to adverse effects or lose money that cannot always be avoided. Rich people can get poor when they have the wrong approach to gambling and poor people will get poorer if they also don't have the approach that is always recommended by everyone who is based on a rational point of view about gambling. So I really can't be sure about who should take more risks in gambling, if you ask that then it's the same as asking "who should suffer more losses". So anyway it is a sensible idea to advise someone to have good responsibility along with good self-control if you are involved in gambling.

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Your first sentence is interesting. You’re saying that gambling is an act of fun and what? It could then coincide to make you rich or poor? No. Gambling can be fun but it isn’t done for fun. You can check the meaning of gambling and let’s be honest with ourselves about it. But anyways, it’s not about who’s richer or who is poorer, the person who can bear the consequences of losing better should stake more. If you know you understand the repercussions and will not break if you lost the stake then you can go big. Asides that, irrespective of how much you have, go small.

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Rich or poor, once they lose, they lose. There's no Math in there. Both will suffer the same result.

- If these rich gamblers aren't able to control spending huge money in gambling, they will face bankruptcy soon.
- If these poor gamblers aren't able to control spending huge money in gambling, they will end up being in a much poorer state.

Who should risk more? That's not how it goes. Should be, be responsible at all times either rich or poor.

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From what you said, you shouldn't be confused because you should already know the answer. When we gamble, we must understand that there are risks that we will accept where we can experience losses and wins. But we will encounter the risk of losing more often, and it depends on how much you bet because the bigger you bet or the more money you have, the greater the potential risk. All gamblers, whether they are rich gamblers or gamblers who are not yet rich, must be able to gamble safely by always paying attention to their limits so that they can reduce the risk of losing. Although gamblers who are not yet rich can turn losses into wins, this cannot guarantee that they will always win, and the same goes for rich gamblers. What is important is how every gambler can understand the risks so that he does not gamble excessively, making him lose a lot of money.

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Quote from: madnessteat on February 07, 2024, 03:58:05 PM

Quote from: Westinhome on February 07, 2024, 03:50:24 PM

Quote from: HelliumZ on February 07, 2024, 03:34:36 PM

~

The risk is the common one between both the rich and the poor gamblers.But the loss will not affect the rich gamblers and affect the poor gamblers in very deep.Because the poor gamblers money is the life saving money of them,they also use the long time savings.So most of the poor gamblers uses the life savings money in the gambling will leads to the huge pressure to the gamblers.The gamblers with huge money can able to go for the big betting for single betting,because the gamblers have less money will go for the small betting to hold some dollars for the future game.The poor gamblers need to arrange more money for the gambling site.

I do not quite agree with you, because to get pleasure from the game poor gambler enough deposit of $100 and bets at $1. Rich gambler will not feel any emotions from such bets. He needs to bet much more. Therefore, the risk of a rich and poor player is commensurate. If we talk about a big win, the chances of it is also equal, because we know more than one story in which the lucky one won the jackpot by making only a few small bets.

That's an important aspect of gambling that often gets overlooked, the subjective experience of risk and reward. While the amount of money wagered may differ between a poor gambler and a rich one, the emotional investment and potential thrill of the game can be similar. Indeed, the pleasure derived from gambling isn't solely dependent on the amount of money at stake. For someone with limited resources, a $1 bet might hold significant weight and anticipation, while for a wealthier individual, the thrill might come from larger bets. Both types of players can experience excitement, disappointment, and the hope for a big win.

It's significant that the chances of a big win being equal for both rich and poor players because luck doesn't discriminate based on wealth, it can strike anyone, regardless of their financial status. There are numerous anecdotes of people winning substantial jackpots with minimal bets that implies the unpredictability of gambling outcomes. This underscores the universality of the gambling experience, where the allure of potential rewards and the risk of losses transcend economic boundaries.

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Quote from: Queentoshi on February 07, 2024, 02:35:11 AM

So, I am confused after asking myself this question and answering it, does this mean a poor gambler should continue to play it safe in gambling? With no risk, how can a poor gambler change their fortune in gambling?

Regardless of being rich or poor gamblers, they will still rely on their luck to win. The risks are just the same. It's just that rich gamblers can afford to spend big in gambling that's why they are capable of betting big. On the other hand, since poor gamblers only have a limited bankroll, they do not tend to risk a big amount per bet.

But since you mentioned poor gambler, what's your exact definition of it? Poor gambler and still doing gambling? How come they can do that?

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Goodnight, ohh Leo!!! 🦅

Obviously the rich... That's the way it ought to be - cus if you look at it critically, you'll realize that the Rich guy would wanna stake way higher than the poor does, with some few odds to catch up with ...

but unfortunately, that's not the case in our society today... Most middle class gamblers would even stake their lives over a single game if they had the chance to - this is something a rich man can't even dare for a second... What does that prove to you?

Sandra 🧑‍🦰

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Quote from: Apocollapse on February 07, 2024, 03:10:04 AM

The poor shouldn't gamble in the first place, they should accumulate as much as possible to build their wealth. If they're keep gamble, that's the reason why they're still poor. Remember, gamble using free bet or faucet isn't gambling since you're risking for nothing.

Actually, everyone has the right to gamble, including the poor people. However, since the money is very limited for poor people, I can agree that the poor people are better to allocate their money for foods over gambling. We know there is no guarantee to win in gambling, it is difficult to expect earning money from gambling. Instead of earning money from gambling, the poor people can lose all their money because of gambling.

Well, the poor people only can try their luck if they have excess money someday. But when they have excess money, I think they are no longer categorized as poor people anymore. Grin

Quote from: Apocollapse on February 07, 2024, 03:10:04 AM

So it's the rich that should risk more, they have larger money, means they can gamble mores.

Indeed. Since the rich people have the ability to gamble with huge money, they have the risk to lose bigger money. But I think most rich people have a good ability in managing their financial, that's the reason they also can have a good way in managing their funds for gambling. I don't think they will carelessly spend all the money for gambling. The most people who have bigger risks are middle-class people. These people who can risk their money more than rich people. They try luck with the money that they don't afford to lose because they want to be rich instantly.

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Quote from: Queentoshi on February 07, 2024, 02:35:11 AM

So, I am confused after asking myself this question and answering it, does this mean a poor gambler should continue to play it safe in gambling?

When someone gambles, the risk is there and it doesn't change whether he's poor or rich. And as advised by many that every gambler should contain themselves and control whenever they gamble. The amount that they're going to gamble is vital for their status because we've seen various stories that they've gambled with their life savings, with other's money and sold a lot of important things just to gamble.

Quote from: Queentoshi on February 07, 2024, 02:35:11 AM

With no risk, how can a poor gambler change their fortune in gambling?

Everything has a risk and doing this I think that the best option that has really no risk at all is to work for a casino or be an affiliate of it. You just advertise it and market them and you'd receive commissions for every referral or deposits your affiliates do.

What people must think of to change their fortune is to work smart and hard with the talents that they have. But if you think that your talent is in gambling, I can't change that.

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Quote from: Queentoshi on February 07, 2024, 02:35:11 AM

Gambling an activity for fun also has the chance to turn someone's fortune. Calculated risk when taken in gambling can be the way to big wins from gambling. Who do you think should take more risk in gambling? The rich gambler or the gambler who is not yet rich. If a rich gambler takes risks in gambling, they are risking losing money and becoming poor from gambling, or getting richer, when a gambler who is not yet rich gambles, they can also get poorer or richer, so the gambler who should take the risk should be the gambler who can handle the dangers of the risk like losing too. When a rich gambler loses from taking a risk, there is a better chance of them being in a position to manage with the losses, than someone struggling financially who a big loss will really affect. So, I am confused after asking myself this question and answering it, does this mean a poor gambler should continue to play it safe in gambling? With no risk, how can a poor gambler change their fortune in gambling?

Well gambling shouldn't be the only way to change anyone's fortune in the first place. If you are lucky you are lucky, but don't bet your house for being lucky.

So in a way you are correct that poor people can only win big by risking percentually more, but by doing that, they will be also risking their life, and life quality for everyone close to them. As if they would have a family, that family would have to pay the price if they lose. Most people who are rich, didn't get there by gambling (if you don't call investing gambling), they get there by being smart and bold with their money. Or sometimes just by being total cheapskates and by exploitation of others.

Also rich people don't need to risk to the point that there's a change for them to lose everything. They can percentually put way less of their wealth to gambling and still gambling with way more money.

Topic: Rich or poor gambler, who should risk more? - page 60. (Read 9655 times)