Why the rich win gambling more than the poor. - page 10.

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Quote from: junder on May 09, 2024, 12:00:07 PM

Quote from: Mr. Magkaisa on May 09, 2024, 09:04:30 AM

- Rich gamblers have a higher chance of surviving than poor gamblers, unless a poor gambler is lucky. But the rich and the poor gamblers are the same; they often lose when playing gambling.

But in reality, long-term gambling is really on the side of the rich gamblers and nothing else. We know that there is a long distance between the poor gamblers and the rich gamblers; that's just the way it is.

This can be seen from the fact that those who are rich do have more money, maybe they can even use large betting amounts and end up losing, they still have spare money to survive or even gamble again, but of course what you say is true is true. or poor, it's the same, the gambling he will do will most likely only end in defeat, not in victory. Big or small, the money they put in and the number of bets played does not rule out the possibility that they could lose in the gambling they do.

Poor gamblers may gamble with the full hope of winning a win that will help their financial problems, but this is certainly not certain. because winning at gambling will not be easy to obtain, and gambling parties will not look at players who need money or just for entertainment, of course they will most likely only experience defeat, not victory.

Agree with this mate gambling is based on money and we are all know that the more money that gamblers gave the high chance of winning cause they can sustain thier bankroll, even though they will loss around hundred bucks then still they can revive it by betting more in the next round and once they are too lucky then there's a chance that they will win a good amount of money. While those gamblers who have small amount of money in thier bankroll then there's a chance that all of that will loss.

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Quote from: Mr. Magkaisa on May 09, 2024, 09:04:30 AM

- Rich gamblers have a higher chance of surviving than poor gamblers, unless a poor gambler is lucky. But the rich and the poor gamblers are the same; they often lose when playing gambling.

But in reality, long-term gambling is really on the side of the rich gamblers and nothing else. We know that there is a long distance between the poor gamblers and the rich gamblers; that's just the way it is.

I think the only difference is in terms of the financial situation they have, as you said that rich gamblers have greater strength to be able to maintain their lives longer even if for example they experience defeat in gambling while poor people when they experience defeat maybe it is a big problem for them that could make them unable to buy basic necessities to continue their lives and this is a difference in situation if we talk about how the situation they will face when they experience defeat in gambling.

But if for example we talk about who will win more between the rich and the poor then obviously I can't answer that, because after all it doesn't matter whether you are rich or poor the casino doesn't differentiate, meaning that for the issue of opportunities they have the same chances of winning regardless of rich or poor and maybe the only difference is in terms of "the number of wins" and not "the frequency of winning", and other things yes maybe I quite agree with your opinion that rich people can survive in the long run in their gambling activities compared to poor people because they have an adequate financial situation.

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Quote from: Mr. Magkaisa on May 09, 2024, 09:04:30 AM

- Rich gamblers have a higher chance of surviving than poor gamblers, unless a poor gambler is lucky. But the rich and the poor gamblers are the same; they often lose when playing gambling.

But in reality, long-term gambling is really on the side of the rich gamblers and nothing else. We know that there is a long distance between the poor gamblers and the rich gamblers; that's just the way it is.

This can be seen from the fact that those who are rich do have more money, maybe they can even use large betting amounts and end up losing, they still have spare money to survive or even gamble again, but of course what you say is true is true. or poor, it's the same, the gambling he will do will most likely only end in defeat, not in victory. Big or small, the money they put in and the number of bets played does not rule out the possibility that they could lose in the gambling they do.

Poor gamblers may gamble with the full hope of winning a win that will help their financial problems, but this is certainly not certain. because winning at gambling will not be easy to obtain, and gambling parties will not look at players who need money or just for entertainment, of course they will most likely only experience defeat, not victory.

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- Rich gamblers have a higher chance of surviving than poor gamblers, unless a poor gambler is lucky. But the rich and the poor gamblers are the same; they often lose when playing gambling.

But in reality, long-term gambling is really on the side of the rich gamblers and nothing else. We know that there is a long distance between the poor gamblers and the rich gamblers; that's just the way it is.

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Quote from: G_Besar on May 08, 2024, 09:26:49 AM

Quote from: Zackz5000 on May 06, 2024, 11:07:28 AM

You can be rich and yet don't know how to predict a better game will still end up loosing your money, it true that that if you are rich and still know how to predict game you will have a higher chance of winning maybe by playing 3 odd with a huge amount of money rather than playing 200 odd with low amount of cash.

Rich people have more money to try in any game than poor people, so rich people are more dominant in winning than poor people, who when their money runs out due to losing they will choose to stop and come back again when they have money. This means that rich people can also lose more even though they can also win because they have more capital, but they do not perceive more losses as an obstacle to winning. Because when rich people can win in a game, of course the losses they have experienced before are at least somewhat covered, although not all of them are covered.

The correct argument is about probability, instead of just a few chances like the poor, rich people have many times different chances to confirm their thoughts in gambling, wealth gives them more access, but the nature of the problem is just a problem with many parameters that are most feasible. The real problem has many more influencing variables and is not as perfect as what we calculate, sometimes the advantage of the rich is just a factor that supports the casino more, casinos rely on balance to push the rich into worse adversity than the poor, not as simple as the perfect theory

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Quote from: jcojci on May 09, 2024, 07:42:35 AM

Quote from: bakasabo on May 09, 2024, 06:05:59 AM

I dont agree that rich win more in gambling. I think people have such wrong vision, because large bets and wins got stuck in people's memory for a longer time, and people dont notice small wins. People would remember and pay more attention to "a guy won a million with single bet". But they dont pay attention to details. What if that guy bet 999,099 dollars with 1.01 odd. People wont pay attention to a guy won 100 dollars. When his story might be hundred $1 bets won in a row. People remember big numbers only. In reality, they have almost identical win ratio, but their difference is in bet size only.

Yes, that's true because, in gambling, anyone can win, whether rich or poor. But we might agree that rich people can gamble with more money than poor people. We have seen several people who can win a lot of money using one small bet to become rich people in their area. But rich people may be able to win a lot of money because they can bet using more money. However, the opportunity to win will still be open to anyone, whether rich or poor. We can only keep trying to gamble but still have to pay attention to how much money we can use to gamble.

Yes, in gambling anyone has the opportunity to win a bet, but why do many people say that rich people can win more than poor people, even though in fact this does not mean that poor gamblers always lose at gambling, but usually if poor gamblers win, they will use their winnings? to double the bet with the aim of getting an even bigger win so that in the end you have to lose the winnings that have been obtained previously and leave the game empty-handed, so it will appear that poor gamblers cannot win bets in gambling.

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Quote from: mvdheuvel1983 on May 09, 2024, 07:57:21 AM

Quote from: adultcrypto on November 24, 2023, 10:51:56 AM

I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.

The rich gamble with more money and a little odd, like you said they understand financial management more, they Believe that a lesser odd and higher stake has more tendency of generating profit in gambling, it is not as if they don't lose funds in gambling, they try as much as possible not to engage in a high risk of making impossible selection.
Let's not forget that they rich sees gambling as a pure business that needs more carefulness to make profit thats why they chose to gamble differently from people, a poor man wants to win millions with a little stake and several selections which is impossible, another thing is that rich people dont gamble all the time, they target odds and games before they can gamble.

There is a simple reason why rich usually are more successful in gambling but not always,that is because they have much more balance than the poor,the longer they play the higher the chances of hitting something nice while the poor cannot afford to play that long,let me make an example here,one poor man has 100 dollar budget and play with 1 dollar bet and a rich one has 10.000 dollars budget and play with 10 dollar bet,of course the chances to be more successful are in the rich one as one big multiplier is not the same as with 1 dollar bet.

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Quote from: adultcrypto on November 24, 2023, 10:51:56 AM

I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.

The rich gamble with more money and a little odd, like you said they understand financial management more, they Believe that a lesser odd and higher stake has more tendency of generating profit in gambling, it is not as if they don't lose funds in gambling, they try as much as possible not to engage in a high risk of making impossible selection.
Let's not forget that they rich sees gambling as a pure business that needs more carefulness to make profit thats why they chose to gamble differently from people, a poor man wants to win millions with a little stake and several selections which is impossible, another thing is that rich people dont gamble all the time, they target odds and games before they can gamble.

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Quote from: 348Judah on May 07, 2024, 01:49:40 PM

I have never seen a statistic that says the poor win lesser to the rate at which the rich gamblers are making winnings, we don't even have a data to differentiate the numbers of the poor gambling to that of the rich gamblers, all we know is that people are gambling and are winning as well as loosing, and this is not because of their Finacial status or background, everyone has equal right and ability to either fall under the same category with other gamblers for loosing or winning.

you are right that there are no statistics like that, maybe the OP is a poor gambler so he often loses. He might also compare what he saw a rich streamer and influencer gambling with big bets and then they win big, that's why maybe the OP said that Rich gamblers win more, even though influencers and streamers actually bet big money because it is funded by casinos that collaborate with casinos so that every game played will be easy for streamers and influencers to win because everything has been arranged as part of the campaign.

Even though rich gamblers never gamble like poor gamblers who usually play all the time, most rich gamblers only play at certain times and even with money they are ready to lose so they know when to gamble and stop gambling, so OP could see when they they win and they don't when they lose, after all, rich or poor gamblers are all the same who have won and have experienced defeat, it's just that most rich gamblers see gambling as just entertainment, which is different from poor gamblers who always think of gambling as a place to make money, that's why they often gamble in gambling hoping to win.

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Quote from: bakasabo on May 09, 2024, 06:05:59 AM

I dont agree that rich win more in gambling. I think people have such wrong vision, because large bets and wins got stuck in people's memory for a longer time, and people dont notice small wins. People would remember and pay more attention to "a guy won a million with single bet". But they dont pay attention to details. What if that guy bet 999,099 dollars with 1.01 odd. People wont pay attention to a guy won 100 dollars. When his story might be hundred $1 bets won in a row. People remember big numbers only. In reality, they have almost identical win ratio, but their difference is in bet size only.

Yes, that's true because, in gambling, anyone can win, whether rich or poor. But we might agree that rich people can gamble with more money than poor people. We have seen several people who can win a lot of money using one small bet to become rich people in their area. But rich people may be able to win a lot of money because they can bet using more money. However, the opportunity to win will still be open to anyone, whether rich or poor. We can only keep trying to gamble but still have to pay attention to how much money we can use to gamble.

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I dont agree that rich win more in gambling. I think people have such wrong vision, because large bets and wins got stuck in people's memory for a longer time, and people dont notice small wins. People would remember and pay more attention to "a guy won a million with single bet". But they dont pay attention to details. What if that guy bet 999,099 dollars with 1.01 odd. People wont pay attention to a guy won 100 dollars. When his story might be hundred $1 bets won in a row. People remember big numbers only. In reality, they have almost identical win ratio, but their difference is in bet size only.

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Quote from: Natsuu on May 07, 2024, 12:12:52 PM

In addition to this. The money they put in is almost insignificant to them. That they don't even care if they lose it all in one go. Which means, they are less likely to be pressured to be making money. They were just there to enjoy. If they are just enjoying, they won't be focusing on money so there's little to no attack for with in terms of greed or fear losing money. Because again they have a lot of reserved cash. I believe that's their biggest advantage.

In terms of probability yes it is 50/50 between rich and poor. But psychologically, rich people have a bit more of an advantage.

Yup, that's right, that's why rich people win more often than poor people because they gamble more often, maybe actually rich people experience more losses than they win but they don't care about that, their wins don't mean anything because they play it for fun, maybe other people judge people Rich people win more often, but in reality we never know how much money they have spent gambling and having fun, while poor people hope to get luck so they can change their fate and become rich. Poor people have limited finances, so they lose they experience will be very painful.

Meanwhile, rich people still have running assets so even if they lose they can still gamble without worrying that they will go bankrupt, the most important thing is that they still have a business that makes more money every day and more than the amount they spend every day to gamble. If their business bankrupt and financially disturbed while gambling remains uncontrolled then it can affect their life, so it all depends on their individual attitude how they use gambling.

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Quote from: 348Judah on May 07, 2024, 01:49:40 PM

I have never seen a statistic that says the poor win lesser to the rate at which the rich gamblers are making winnings, we don't even have a data to differentiate the numbers of the poor gambling to that of the rich gamblers, all we know is that people are gambling and are winning as well as loosing, and this is not because of their Finacial status or background, everyone has equal right and ability to either fall under the same category with other gamblers for loosing or winning.

I still there emphasize on this point that a gambling is all about opportunity and the log and the no one will tell me that for you to gamble win in gambling that you must be a rich person there is no differentiation between a poor person and a rich person to gamble and win because gambling is a something of a risk that the involve both opportunity lock and way you predict your game so I've not seen a rich person win gambling more than a purpose, like no statistics that prove such that rich person will win in gambling more than the poor person that point is not ideal or is not welcomed to me

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Quote from: adpinbr on May 08, 2024, 04:02:26 PM

Yes to me I do understand that the rich have more chances of playing more and more when they lose they still have some money to dream more and more games have just a few chances of playing after with what they have become afraid of losing the slowdown why the rich continues at last the rich wins that they have more about it it’s just that they level by the poor can give up and gambling because of financial strength to which can give up that way it’s all depends on it

The thing is that you can always bet more every time.

That means that a poor person can bet say $10 a time, but a rich person might bet $1,000 every bet.

This basically means that both might end up stopping after the same amount of bets.

They won't have more money to bet, but they probably spent the same amount of time there.

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Quote from: Uhwuchukwu53 on May 08, 2024, 02:02:29 PM

Quote from: GideonGono on December 17, 2023, 09:02:21 PM

Quote from: adultcrypto on November 24, 2023, 10:51:56 AM

I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.

I think the reason behind it is that they understand financial management more than the poor, and they aren't too greedy they know when to quit and take profit or loss.
For me it is not about rich or poor, those who could manage their own greed and stop when they needed are the ones who could win most of the time.
And also it might be that the rich could just hide the fact that they lost in gambling, while the poor couldn't since they lost more than they could.
There are some rich people who had destroyed their life by gambling or their uncontrolled greed.

What happened is that the Rich don't engage much for instance gambling like that of odd the select few game and stake with bigger amount that give them something tangible at the end of t of any win but the case of poor gambler it's required of the person to choose as many odd to get tangible odd that can give reasonable amount, that is where greed control come into play the both can be of loss but the Rich control it because the more the game gamble the more likely loss is to occurred. Though this can be assumption but there some reality Factor even when there is no statistics table to show beside base on the nature of poor gambler complain is more in the society than that of the rich it shows the rich get more edge of control than the poor, not as design but by financial management and control of greedy why engaging on gambling

If you are someone who doesnt have that big capital then for sure you would really be making out those kind of adjustments on which you would really be minding about the difference when it comes to odds or whatsoever numbers and variations on which this is something that those rich people wont really be minding that much just because they do have that huge bankroll then they could immediately making out those bets
or rolls without minding that much about those multipliers. The main differences on here is on the duration on which poor people would be having that shorter duration considering that bankroll isnt really just that too big for them to play on and this is why on the time that they would bust up then that would be a completel stop whereas it would be different on rich people.

It would be understandable that when it comes to potential winning then rich people would really be having that advantage which is common sense and understandable.
But come to think that the potential loses too would really be that also bigger compared into those poor ones. So it is really just that balance about on risks factor.

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Yes to me I do understand that the rich have more chances of playing more and more when they lose they still have some money to dream more and more games have just a few chances of playing after with what they have become afraid of losing the slowdown why the rich continues at last the rich wins that they have more about it it’s just that they level by the poor can give up and gambling because of financial strength to which can give up that way it’s all depends on it

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Quote from: GideonGono on December 17, 2023, 09:02:21 PM

Quote from: adultcrypto on November 24, 2023, 10:51:56 AM

I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.

I think the reason behind it is that they understand financial management more than the poor, and they aren't too greedy they know when to quit and take profit or loss.
For me it is not about rich or poor, those who could manage their own greed and stop when they needed are the ones who could win most of the time.
And also it might be that the rich could just hide the fact that they lost in gambling, while the poor couldn't since they lost more than they could.
There are some rich people who had destroyed their life by gambling or their uncontrolled greed.

What happened is that the Rich don't engage much for instance gambling like that of odd the select few game and stake with bigger amount that give them something tangible at the end of t of any win but the case of poor gambler it's required of the person to choose as many odd to get tangible odd that can give reasonable amount, that is where greed control come into play the both can be of loss but the Rich control it because the more the game gamble the more likely loss is to occurred. Though this can be assumption but there some reality Factor even when there is no statistics table to show beside base on the nature of poor gambler complain is more in the society than that of the rich it shows the rich get more edge of control than the poor, not as design but by financial management and control of greedy why engaging on gambling

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Quote from: nullama on May 08, 2024, 09:09:55 AM

Quote from: 348Judah on May 07, 2024, 01:49:40 PM

I have never seen a statistic that says the poor win lesser to the rate at which the rich gamblers are making winnings, we don't even have a data to differentiate the numbers of the poor gambling to that of the rich gamblers, all we know is that people are gambling and are winning as well as loosing, and this is not because of their Finacial status or background, everyone has equal right and ability to either fall under the same category with other gamblers for loosing or winning.

You are spot on.

The amount of money that someone bets has nothing to do with the probabilities of winning.

It's just a "multiplier".

Basically the odds are set to a specific number, with advantage to the casino, and then the gambler put the money there. It doesn't matter how much, the odds are the same.

Exactly, no matter how much money you gamble it is a fact to say as you have said above that it does not affect the outcome at the end of the gambling session, or what it means is that gambling is still gambling where every gambler will always have two possibilities at the end of the session which is between winning or losing and winning does not depend on how much money you bet but only depends on how lucky you are at the time of running the session.

This means that the possibility of losing is always a certainty, you can win big with a big stake but it is also very likely that you will lose and lose that big stake. And this is why it is always advisable to only put small amounts into gambling because after all there is absolutely nothing that can guarantee that you will win at the end of the session except luck, but it is a fact that luck can never be known when it comes. Wink

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Quote from: Zackz5000 on May 06, 2024, 11:07:28 AM

You can be rich and yet don't know how to predict a better game will still end up loosing your money, it true that that if you are rich and still know how to predict game you will have a higher chance of winning maybe by playing 3 odd with a huge amount of money rather than playing 200 odd with low amount of cash.

Rich people have more money to try in any game than poor people, so rich people are more dominant in winning than poor people, who when their money runs out due to losing they will choose to stop and come back again when they have money. This means that rich people can also lose more even though they can also win because they have more capital, but they do not perceive more losses as an obstacle to winning. Because when rich people can win in a game, of course the losses they have experienced before are at least somewhat covered, although not all of them are covered.

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Quote from: 348Judah on May 07, 2024, 01:49:40 PM

I have never seen a statistic that says the poor win lesser to the rate at which the rich gamblers are making winnings, we don't even have a data to differentiate the numbers of the poor gambling to that of the rich gamblers, all we know is that people are gambling and are winning as well as loosing, and this is not because of their Finacial status or background, everyone has equal right and ability to either fall under the same category with other gamblers for loosing or winning.

You are spot on.

The amount of money that someone bets has nothing to do with the probabilities of winning.

It's just a "multiplier".

Basically the odds are set to a specific number, with advantage to the casino, and then the gambler put the money there. It doesn't matter how much, the odds are the same.

Topic: Why the rich win gambling more than the poor. - page 10. (Read 3724 times)