Topic: Rich or poor gambler, who should risk more? - page 62. (Read 9664 times)

In my opinion, gambling isn't a good idea for anyone, whether they're rich or poor. When someone takes a big risk in gambling, it can cause problems for both rich and poor people. For example, if a poor person takes a big risk in gambling, they might keep struggling and stay poor because they could lose even more money. And if a rich person takes a big risk, they might lose all their money and become poor in the future if they don't win. So, I don't think it's a good idea for anyone, whether they have a lot of money or not, to take big risks in gambling. It's better to be careful with our money and not gamble because it can lead to problems for everyone.

This is right and absolute for all gamblers irrespective, of their class or status in the society because the risk of gambling excessively robs on both rich and poor gamblers so for that the ability to maintain that level of risk that they can afford at some point in time, the only noticeable difference may be in the amount of loses that both incur at some point in time, let say if a rich guy can afford to stake thousands of 💰 dollars and the poor guy could stake just few dollars on the same bet, if they bet become lost the total amount in loses for both will differ but the risk is same, and that is why it is generally advisable to risk only little amount that you can afford to lose.

I view it the same way.
A rich gambler could lose 80% of a thousand bucks on a single sitting while a poor gambler could lose 80% as well of his hundred bucks on a session. The rich gambler might seem to be handling it better however, things are just the same and will vary on how often either rich or poor bettor, loses. What creates the difference then? For sure that's luck, simply because it doesn't choose anyone who would he, it just happens. A rich gambler is just being overlooked in this comparison simply because of the idea on how much he is getting perhaps on businesses on a daily basis compared to what he is losing in gambling. To conclude, percentage should be the basis in capital-loss ratio.
I agree but everyone has the right to risk more, it is driven by initiative. Question should be, who will risk more and not should. If you lose in gambling, it is you who would suffer and same thing goes with who will celebrate. Now, considering chances and how it usually goes, are you an individual, regardless whether you are poor or not, who will embrace that much of a risk over your tolerance?

masulum, I agree with you. Every gambler's risk is the same, regardless of their financial strength.
Rich groups may experience greater losses in nominal terms because they have larger budgets, while poor groups may experience fewer losses in nominal terms. But between rich and poor, both gamblers have the potential to lose a lot of money depending on how much of their budget they spend on gambling.

Many poor gamblers lose more than rich gamblers because of differences in gambling styles and patterns. Some rich gamblers only gamble when they have free time and perhaps just for fun, but the poor can gamble every day even whenever they have a budget. These two gambling patterns mean that the nominal losses will not be the same, it is possible that the poor lose more than the rich.

I think none should. Being wealthy or not does not give someone the right to bet beyond their means. I made this statement because when a gambler realizes how much money they have lost to gambling, they may feel like giving up on life and taking their own life.

Many gamblers have increased their bets above their initial expectations in an attempt to earn anything substantial from gambling. Rich people strive to get richer while they are already wealthy, whereas poor people lose money when they gamble and become poorer in the process.

Actually, I believe those who are considered to be poor or below the line of poverty are more in risk of losing more because of their gambling activities. Rich people have more chances to recover from their losses and they are more likely to have some businesses set up on, which give them passive income, I am talking about assets which are not liquid but are very profitable in the long term. Unlike the rich, the people who does not have much money are more prone to be influenced over because of greed. There is a good reason you see that in towns and apart places where there is much poverty, it is common to find gamble houses all over the place. Because the desperation can be turned into greed and greed is good for casinos, so their gamblers get over confident.
Of course, it is possible for a rich person to get into bankrupt because of their gambling sessions, but it is less likely for that to happen to them than people earning a few dollars for their work.

I am sure there must some scientic study made about this on the internet, about the direct relation between gambling and the economical status of individuals.

I don't consider rich and poor when it comes to taking risks. Many people think that a rich person has more money, it is easier for him to take risks, but this is not the case. Because we spend the amount of money on normal bets through which we can get good returns. A rich person's betting volume is naturally higher so I don't see much of a difference between risking more for him and risking for a poor gambler. Because they are both equal from their positions depending on the situation. Many may say that there is no point in gambling if you can't take risks. That is, the poor man should also take the risk. So I think anyone can take risks from his position.

Both rich and poor gamblers need to manage risk management very well in gambling because gambling isn't something that allows a person to make a profit according to his/her financial situation. Of course, since the rich have more money they may prefer higher amount bets or gambling games but each individual must manage risk management in gambling well, depending on their financial situation. For example, if we think in terms of percentage rather than amount, if both individuals gamble with 80% of their current wealth and lose in gambling, both of them will lose 80% of their current wealth. For this reason, regardless of rich or poor, risk management in gambling must be ensured very well.

To make a cost-oriented comment, I think that the poor must take more risks in order to gain the same amount of winnings because in order for a poor person with a budget of 100 units and a rich person with a budget of 1,000 units to gain the same amount of profit, the poor must gamble ten times more than the rich per stake.

Who risks more between the rich and the poor when gambling is either of them that gambles the amount that they cannot afford loose, when either of them does this, then they're at more risk to lose their money. Although a rich gambler will stake more money than a poor gambler, and if you're looking at who risks losing more amount of money, then it's the rich gambler, because a poor gambler might not even have that kind of money in his entire savings. If a rich or poor gambler is betting the amount that he can afford to loose, then it's not so much of a risk for him.

Regardless if a player is poor or not, it is heavily recommended that both players with different statuses know when to stop gambling for their own benefit.

Basing it on statistics alone, the house will always win due to the presence of house-edge on the gambling platform. If a poor gambler knows how to control their emotions by not over spending during his time, then this may prevent him from losing further and this will also give him an opportunity to maximize his winnings.

This same principle mentioned above can be applied to a rich gambler. The only difference is that the latter has more resources to try and to allocate a certain budget in funding their gambling activities.

Rich people who have many companies that give them high profits every day, can afford to bet with large amounts of money because in a few days the profits that they will have coming from the many businesses that they have will be able to cover those losses that they did, so they had no reason to be sad because they lost money. I'll give an example of what I'm talking about: there are singers who keep betting 1 million dollars in casinos, there are many rich people who in the past went to play with millions of dollars in casinos and many of them won and won more millions of dollars in the casino but others lost their money. million dollars they put in the casino

but today if you look at the fortunes of these people you will realize that they lost absolutely nothing, because when in the past they gambled and lost and had a reduction of 1% of their fortune, today they have an increase of 50% of their fortune and even They keep playing, even so, the guys are seeing an increase in their wealth and they also manage to win at the casino sometimes. That's why you shouldn't compare rich people with poor people. the poor player when he has a salary of 500$ per month and takes 50$ per month destined for gambling, the following month he continues with 500$ of his salary because all the money he received in the previous month is gone

Therefore, the poor person is not seeing an increase in money and assets every month, it is stagnant, which is why he needs to moderate a lot when playing, he cannot afford to play and lose all the money intended to pay bills, because there will be debts, while the rich person has an increase in money and assets every day, which allows him to play and do many things in the real world without damaging his finances. Some people think that both sides, rich and poor, are in the same situation. but that is not true, it is very far from being true, the rich can easily afford treatments if they become addicted to something and then are cured, the poor when they are addicted hardly recover, in many cases they end up dead or in prison

I have been reading some response since but none got my attention as yours because it's exactly why I'm thinking. What should keep reframing topics and put them back to be discussed. It's that not spamming? Am still a newbie maybe I don't really understand what this happening in this board.

For the op, the social strata places the rich in every equation high than the poor. Whatever the rich and the poor has to do together the rich will always remain more successful than the poor because they have more capacity to do something the status quo poor people will fo but with high portion. In gambling as said above if my 1% is $100 and i stake it on a particular bet and someone else 1% is $1000 and he or she also stake on the same bet who wins more ? Of course the rich so the rich take same level of risk with the poor but the capacity makes the difference.

Your highest level of risk tolerance could be where the level of risk tolerance of the reach starts. It's vice versa.

Gambling is not a "safe" activity, there's always a risk of losing your money, so rich or poor nobody can gamble without risk! But there are ways to minimize those risks, especially if you play skill-based games and you work on sharpening those skills. With the right set of skills for the right game and a bit of luck poor or rich gamblers can change their fortune in gambling, but don't forget that there are no guarantees in gambling, all we can do is try and hope for the best.

There's no reason to be confused about these things... just play with money you can afford to lose and you will be fine. It's okay to watch others gamble, but try to be yourself and find your style & way of gambling that you are comfortable with.

A responsible person will take that risk, so I guess most people are rich but when people are poor they have to think twice about it.

There is no safety in gambling meaning you have to take the risk between winning or losing, if you want to be safer not to lose money then stop one avoiding that risk.

But still this action should not be a reference where by taking risks you will be rich I think it is NOT. Unless you are about other fields such as investment or business then taking risks is a must because you can improve your skills in running the business/investment you want.
But I always think that gambling is about luck so use ready money to lose.

Nobody should risk more because the money we are using for gambling are not falling from trees, we earn and work for them, we should only take the risk we can afford to bear in gambling, no one deserves taking the risk in it's highest order for nothing, both the poor and the rich fellow gamblers avoids the risk if they can just to make sure they have the fun together with their money used in gambling as well as the winnings, knowing that gambling is not a once stop event that we do for only a one chance period, we can continue to gamble each day with our money with us and keep having the fun wether we are winning or loosing.

It is clear, that the rich should risk more in this context. Though both are entitled to risk as they like in gambling, but by the nature of the richness that some have better than the poor, they have better resources to risk and it might not even be as if they risk at all, nonetheless, the risk of their wagering matters here. But when it comes to the number of times and consistency, the rich should risk more, after all, many people believe that gambling should be wholly treated as a funfilled activity, and this will be best fitting with the rich than the poor. The worst mistake that a gambler could make is to have their mind on the money involved and the money to be made.

This often affects the poor which makes gambling not so recommendable for them. Not that they do not have the right to it just like the rich, but the rich do not focus on that money mainly unless such are not rich enough. They do not believe that gambling is the avenue that will make them rich, they are already rich, so they could be gambling mainly for the fun of it which is the best way to keep gamblers responsible. By that, they have a neutral mind about it and if they win, they will be happy, but it is unlike the poor who think that gambling is a means that can set them on the path to financial freedom. Such like that will always fail because of their belief which will later mount pressure on them.

Exactly, no possibility can turn into a certain thing. Gambling can be said to be between dream and reality, we can dream of something big, but it can disappear when we wake up. Likewise with gambling, poor or rich, when gambling it may no longer be useful to ask who is more at risk, because both have the same risk. When he wakes up from a dream, the dream will disappear, whether it can come true, ^{some of them may be can}, but it's not a guarantee to all of gambler. This means that the risk remains the same, the difference is time, if the poor have a shorter time to gamble because of limited money, but the rich guy can have a longer time to gamble. the risk of losing and winning, I think is the same. Only the nominal is different because they bet with different bets.

Yes, that is the most basic and essential rule for gamblers to follow. By only playing what you can afford to lose, there won't be further complications on your life. That is, in the worst of the outcomes when gambling, a rich gambler won't bankrupt, while a poor person won't have to give up on his financial ascension due to his gambling habits. It means to have a functional gambling routine where the person doesn't need to turn gambling into the most important or the main activity of his life.

This way, we don't need to define who should risk more or less, as each person should risk inside their limits, doesn't matter if the are rich or poor. Of course, rich gamblers will be able to take more risks, as they will be betting with larger sums of money, although it doesn't mean poor gamblers don't have winning chances. After all, it's a game of luck, and sometimes the person with one ticket wins the jackpot, while another person who holds a hundred tickets don't. As an example I can mention freebitco.in's lottery, where we have been seeing this kind of thing happening week after week.

Gambling is gambling. It does not matter if you are poor or rich. What matters is the amount you gamble with. You must have a strategy. The larger the amount you bet, the greater the risk. If you risk a lot, you may lose your money or increase it. You must know when to bet a small or large amount

No one has to risk "more", especially more than what you can afford losing. If it is just betting times or opportunities to risk then most likely, rich individuals has capability to do so given that they are likely to have bigger bankrolls. But if you're poor, of course there will be that bigger urge to win and become rich, however, do you have what it takes to do so? Being poor means smaller margin and mbankroll, would you be giving it a 'stretch'? It should be no. Pushing your luck no matter how you much you wanted to win, will not give you the assurance of winning nor increase your chances. It all boil down to your luck and fortune. Let things happen as it should, having bigger desire will just make you frustrated of things and will just attract worse scenarios.
Has a point and it just depends in what way a gambler would bet. Even with large bankroll, if bets are 10x or more, than with average players' then things will have the same outcome such that if they're just unlucky, loss is most likely the result. But the question is "should" and no one is required in the first place. No gender, age (legal of course), race, and social strata, determines whether you SHOULD take the risk or just play things as is. What's more assured is to be preventive of huge loss.