Topic: Why the rich win gambling more than the poor. - page 11. (Read 3724 times)

I don't think gambling recognizes rich gambler and poor  in winning or losing, because sometimes poor gambler can win from the gambling and rich gambler can loss sometimes but that one doesn't mean because they are rich or poor that make them to experience such result in the gambling center.

You can't see the number in the casino gambling, but very easy to recognize in the physical betting center because you can use the amount of money gambler will use to start gambling through out the day to know if the person is rich or not, which you can only see small amount of money from the poor gambler to gamble in some minutes to stop from the day.

If your time to win come, it will not know whether you are poor or rich because gambling come by luck which is what is sustaining gamblers in the gambling.

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 understand what you mean above which means that rich people do not have the intention and purpose to earn in gambling and they come only to seek entertainment to fill their free time full of boredom, when someone gambles without having the intention to earn then it makes sense to say that they will not feel too worried when they lose, but on the other hand in my opinion still even if you are a rich person who has a lot of money to bet in the end you still have to have a limit on the amount of budget allocated. because no matter how small the loss is if it happens very often then of course the amount will definitely grow slowly, so there is always a possibility for you to experience a large amount of money loss that can make you bankrupt regardless of whether you are rich or rich, Because no matter how and how small the loss is if it happens very often then of course the amount will definitely grow slowly, so there is always a possibility for you to experience a large amount of money loss that can make you bankrupt regardless of whether you are rich or poor, so in the end rich or poor are always advised to have a lot of restrictions when they are involved in gambling, because it is a fact that rich people only have strength in terms of finance but if we talk about the chances of winning and the possibility of losing then yes just like the poor and the difference may only be in terms of the amount.

People who are rich can utilize huge sums of money so if they bet by using huge amounts so obviously they will win huge sum and other thing is that if they lose such amount they can afford that amount and can recover back after a single win with a huge amount.

Poor people do not have enough money so if they utilize little amount their loss or win will also be little but rich people can get huge sum with huge utilization of money for the bet. And another thing is that it is a matter of luck so if you are lucky you will win otherwise your every bet will go wrong.

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.

The truth is the rich gamblers have the mind of taking big risk with their money. Like today I listened to a rich guy, and he said the reasons why he is rich today is because he borrowed money even when he has money. That he borrowed money to do some business and he has to pay back in 3 years time and today he's rich than before even after paying his dept. Not all people can have the mind to borrow money, some don't have any reason to borrow, so when they borrow the money they don't use it for anything meaningful. Imagine if a gambler borrow such money, what will he do with the money? Gamble gamble gamble all the time and having hope that one day he will win and pay back. People who are very rich can risk a lot and believe me if I say it's only the rich people that gives out loan to others. They believe when ones one takes a loan he will add more interest to it and if the loaner don't meet up the deadline for the repayment more interest will be added. So as only the rich people can risk their money by giving out loans to people, it also means that there is nothing that a rich person can not do with his money. And many times it works for them.

I will help to answer some of the questions you raised above, using a healthy mindset and rational point of view gambling never sees and judges about who you are or how rich you are in real life, however it is quite simple to explain that if you have money regardless of the amount then you can gamble or engage in gambling. On the other hand, we must understand that casinos provide opportunities to everyone involved, no matter rich or poor, all of them have the opportunity to win and the possibility of losing but maybe the difference is in terms of the amount.

This means that rich people can win bigger and poor people can also win with large amounts and this victory applies to rich or poor people if they are very lucky at that time. So that means that being poor in no way affects or prevents you from winning large amounts for example, and the point is that everyone has the same chances of winning and the possibility of losing regardless of whether they are rich or poor, but for the problem of the amount of defeat may depend on how they treat their gambling activities, because if they treat gambling in an aggressive way then obviously the possibility of losing must be quite large.

Bookies giving rich people a chance to win? Huh What does it mean that poor status and low finances prevent them from winning? What you said above is in my opinion very wrong. In gambling there is no difference between rich or poor to win. This depends on how each rich or poor individual processes the game, the opportunity to win will always be there for rich or poor.

And one of the season why the rich will always have more wins than the poor the reason be that, the rich will always bet with good money and few games. but a poor man will always want to win a huge amount with a small amount of money how is that possible placing a bet on about 20 games just to gather enough odd and they forget that gambling does not work that way, and the thing is far from financial management because if you look at the amount of money used to invest in gambling you will be surprised that the poor does not even spend that amount of money in gambling if you go to all this betting shops you will testify to what am talking about.



Not only in gambling almost everything involving money involves financial risk and gambling have similarity with crypto but how you manage your the situation depends on you, and the rich wont risk everything but the one they are risking they will make it back because rich people are not that greedy and they wont make any reckless move, the secret about gambling all depends on how you play your cards. and its better to choose few games and good money that is for sport gambling and that way your wins will be grater than your loses, because everything is not always about luck how we manage when gambling matters a lot.

The rich win more at gambling than the poor for several reasons. First, the rich have more disposable income to spend on gambling in the first place, so they can afford to place larger bets and play more often. This gives them more opportunities to win big payouts. The rich also often have access to exclusive, high-stakes games and venues that your average person cannot access. These private games with big minimum bets favor wealthy players who can afford to take large risks. Additionally, the rich have the luxury of time that allows them to learn gambling strategies and master games through extensive practice, study, and tutoring.

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.

Gambling is a luck based game and not a game of how much you have. Everyone has their lucky moment both rich and poor. If you gamble on a day that is not your lucky day, if you like use $1M to gamble in different sections you will lose it all.

If you are on your lucky day and you place your bet at the lucky moment, if you use a very small amount amd let it be your first bet for the day, you will win that bet. This is why I don't think that the rich has an advantage of winning over the poor. Remember, the house hedge always win. Maybe I will say it in the opposite way that the rich also incur big losses than the poor because they gambke with big amount of money.

Honestly, I'm not too sure about the idea that rich people can win much more often than poor people, if we talk about the amount of the budget then yes, obviously the number of wins of the rich must be much greater than the poor, but what you have to understand is that winning in gambling does not look at how much budget you bet, no matter how much budget you bet it cannot be a guarantee that you will always be able to get a win in every session you do.

This means that being rich or poor is not something that can be used as a guarantee that the person will always be able to win, but I also recognize that the number of wins of the rich will definitely be much greater (not more often) than the poor because of the difference in the amount of capital they bet at the beginning, and the rest is a matter of luck, Or what it means is that only luck can guarantee you to win and not a matter of whether you are rich or not, while on the other hand it is a fact that the name of luck can never be known when it comes and how often it will be, meaning that there is always the possibility that poor people can win much bigger than rich people if it is their luck streak that can turn small capital into very large.

When it comes to the chance of winning, then for sure both the gamblers with high rolls and small rolls have an equal opportunity of winnings, but the difference comes when you with high roll, the amount you won win be more as compared to the person who gambled with small amount of money.

But there is one advantage for the small rollers, that if they lose the game, then there will be less loss of money as compare to the person who is gambling with more money and then loses the game.
I prefer to manage money in gambling so that a loss does not make a big dent in my portfolio. Even if I lose the opportunity to win big, I still prefer to save my money in the first priority.

Every gambler has the same ability to either win or loss their bet, there is no lucky that work for rich people in gambling that doesn't work for the poor too. The poor and the rich have the same level of luck to win a game or loss it but the amount that is won or lost is what differentiate the poor and the rich because the poor only based on their pocket size while the rich also gamble with a huge amount more than the poor because they tend to have a more wide pocket than the poor. Take for example that I staked $20k in a bet  because I am rich and someone staked $5 on that same game because that's what he can afford. At the end, the game went as predicted predicted, between me and the other person that staked $5, you already know who will have a very huge profit.

I don't get your points. Wouldn't rich people just bet with higher stakes then poor people? I mean poor people would adjust their bets lower if they would be happy with the wins they get with those. So i assume that rich people wouldn't play with small bets either, because being satisfied on the size of the wins is highly subjective and relative to your wealth.

Winning a dollar isn't much for a poor people just like winning 100 isn't much to rich people. And if that doesn't apply on someone's definition of rich, they can just scale the numbers up or down. My point is that it's all relative. Rich people play with 20$ bets while poor cash out 20$ bets. Obviously there are often differences in income, social status and friends that can help them, but in general, i think they don't play with few bucks when they play.

That is why when we no longer have money, there is no need to force ourselves to keep gambling, the economic conditions that each person has will always be different, as you said, rich people don't think about their money because so far they have a very large amount of money. unlimited so that when gambling they never see how much money they have spent. Usually poor people will still try to gamble because they want to try to get the opportunity to become rich instantly when they succeed in getting the jackpot from the gambling they have done.

Your opinion about the reason why the rich win more in gambling is absolutely correct and when you relate it to our immediate society, you'll see that everything you said are nothing but the truth. But I want to point out to another reason why I feel the rich win more in gambling than the poor and that reason is the greedy factor. Poor people are always greedy in their gambling decisions and that's why they would want to use $10 to try win over $5000 at a spot.
Rich people aren't as greedy as the poor people because when they're gambling, they just use much amount of money to gamble while expecting to  get little profit from their stake. So in a nutshell, poor people are more greedy than the rich people in their gambling engagements

That makes sense, indeed for rich people maybe they can take big risks such as by betting a large amount of bets that are different from usual. And they do that because they do have enough money and also have spare money that may still exist. It's just that even if they make a larger number of bets, it does not rule out the possibility that they can lose in gambling, defeat will still exist, small or large the amount of bets made is the same risk of losing.
I fully believe in luck that will give victory in gambling, it's true what you said even though they are rich people gambling many times, but if luck is not on their side it will not make them able to get a win or jackpot. I don't think it can be ascertained that more winners are rich people or poor people, maybe it depends on their own approach to gambling like what and how.

The reason is very simple, the rich have enough money in their disposal, and this automatically opens them up to alot of opportunities, like bonuses and others, and when it come to actual gambling, the rich win more because they have more to spend, imagine having a $100 as a poor person, and another having $5000, and you both decide to spend the money on playing Slot game, who do you think will play for longer with those amount, is you both were to be betting the same amount of money on each spin?, of course the rich dude with $5000 at his disposal will play for longer, and one thing about slot game, the longer you play, the better your chances at winning really big amount of money.

But then, I will tell you something I believe many do not know about gambling yet, winning in gambling is not really about how much you made gambling, but rather, it's more of your overall profit and loss, to really consider yourselve a winner, your overall wins have to be more than your overall loses, this has nothing to do with who is rich or who is poor, for a poor more with $100 to his name can end up with more overall amount in win compared to their loses, while the rich man will have more overall loses compared to their overall win amount.