Topic: Why the rich win gambling more than the poor. - page 18. (Read 3724 times)

The only difference in the treatment the rich and the poor receive has to do with the bonuses a casino could give to those that wager the most money, and this makes sense since casinos would like to keep the clients that spend the most money with them, and in order to accomplish this goal they give them better bonuses, but other than that casinos cannot really make a distinction among their players due to their social status, and if they did so, someone will in time realize this and once it happens that casino will lose all of those clients as they realize their games are not really fair for everyone.

When the rich want to think about winning games, they think like someone that has money and want to make more money, they can bet a million on a single game with probability of making 30% with risk of 30% losing the money and they will go for it, if the game win as they expected, he will be 30% richer from his wager money or money stake but if a poor man want to gamble, they assume that gambling is the way to eradicate poverty from their life and that is how they lost little they have. A poor person can wager $1 and expect to win $100k from that money and only a greedy people do that and they hardly make money with such sense.

Good strategy comes with peace of mind and good thinking comes when you have money, most of the time the rich people don't stress their head with much information, they just make some predictions based on the current form of the team and they are good to go but a poor man will go over and over with many thoughts on his mind and after that stressful research to end up making nothing in the end.

Well your idea is right, it's just the difference between the two situations between the poor and the rich and of course I also think that financial strength is not a determinant of who will win more or more often, you've said the basic difference is that the rich have more power in terms of money which means that losing is less of a problem for them. The level of worry also plays a role in this, as you said that the difference between rich people and poor people is in terms of reaction when they lose, poor people have a spontaneity that tends to feel more disappointed than rich people who don't care much about losing.

And also another thing is in terms of opportunities, simply put the poor have far fewer opportunities when they lose, meaning that the rich have the money to make 10 attempts and the poor may only have a chance of 1/2 time or even not be able to do it again when in the early stages all their money is used up with just one attempt and of course cannot continue to the next session. So for the winning problem I think it is not related to the problem of being poor or rich because it depends more on luck.

It's true and I agree with it, but I don't think this means that the rich win more in gambling than the poor, it simply means that the rich don't care much about their losses and only focus on their gambling and the big wins they get, while the poor has more concerns about their losses because as you said, they can't be as free as the rich when it comes to money and finances because they can't afford to do that, they have to be careful with their money as they only have a limited amount of it.

So, it's all about affordability and concern that makes things look different and not the wins or losses because a casino wouldn't deliberately make the rich win more and make the poor win less because they are going to get their revenue anyway, and they can get even more if the rich lose because they are generally high rollers.

The difference in situations and conditions especially in finance is the main focus on the difference in involvement and approach, it is clear that spending the amount of $200k will not be a big problem for the rich, but that amount is very valuable for some people especially the middle or below average, not only that because it turns out that the difference in financial strength has also changed one's perspective on gambling, the rich come with the intention of entertainment and about the amount we think is very large but for them it is an amount that they can afford to lose. But on the other hand, it cannot be denied that rich people can also get lost in the addiction zone and it is very possible that they can also run out of all their money, so although there is a significant difference in the two financial situations above which can certainly affect the point of view, still whether you are rich or poor management must still be applied, because the name of the money will be very easy to run out.

But in general and according to my point of view usually rich people will not be too likely to get lost in the addiction zone, logically they have pretty good management of the money they earn so that they can become rich people, doesn't it make sense? So with that even though they have great power to bet higher, I think they will consider from all sides, the point is that rich people will not be too careless about the allocation of money.

Yeah, you're right.

Rich people that keep being rich will probably not spend their money gambling.

Whereas there are a lot of "new rich" people that got their money fast, and they are happy to throw it all in the casino.

Easy comes, easy goes.

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.

Well, I see it in the simplest way there is, a millionaire, rich, is a person who has a lot of money that can even be spent on the roof, even if he spends a lot of money, which for us can be a fortune, for them or is it just fine, and it surprises me to see the number of rich people there are in the world, I don't know how they manage to be so rich, what I say is that when there is something to offer and how they can have better job opportunities, business opportunities, that is the reason why I see that they can be big, however I say something when a rich person plays in a casino they can easily spend up to $200k, something that in my life I am not able to afford, but I don't forget this is something that not everyone talks about , and since it happens that they have spent much more and even so, if they lose, nothing is left there, because the rich do not have Needs to satisfy or look for extra money for their things, it is complicated but for the common people who are not millionaires , who are always looking for ways to make money and find ways to have fun.

A player who is rich will always look for a way to get more fun in a casino and wherever, that's why we are people who can wait to make the Difference when we are in a casino because when we play with little money there is a lot that is learned in a moment given , a rich person because things are different, the money they spend doesn't hurt them much, they always know how to do everything, so basically with money life is easier, more comfortable, they don't have to go through needs or make sacrifices, everything is easier for them, then in retrospect if life is easier for a rich person, it is easier to act in a casino, because addiction will not occur, unless you bet Large Amounts of money that are decapitated, but you have to very stupid to do it , there are no people like that. because above all, some of those who are richer know what to spend on.

Though, there are rich people who actually wager much money, otherwise there would not be special casinos and establishments which are supposed to be able to Carter to whales like them. The fact is that there are less people who can be considered to be rich and gamble, in comparison to people with a low level of income and also are active gamblers.
In general, when comes to vices and activities like tobacco, alcohol, gambling... There will be always a market for all people in a community regardless of their level of income.

Though, I do not doubt that people who has much money and have plans to continue to multiply it in the future would rather to avoid to gamble, for the sake of those same plans they have, and since they are aware the house always wins in the long term, they may prefer to stick to their plans and partake in activities which will bring them amusement without having to wager money and depend on luck. It is pretty reasonable if we think about it from the perspective of someone who whishes to make money in a traditional way, though.

I think is the greedy nature of the poor person who wants to earn more in a short time with a limited fund.  When he came to the casino he had limited funds through which they wanted to gain more and in hurting they made a mistake and lost their find as I told them that they had limited supply than they were for the short period in the casino while on the other hand, the rich person has a lot of finds and when they lose their find twice or thrice they did not go from the casino until they make a huge fund and recover all their losses funds.  Another reason is that rich people gamble as a game for their refreshing while poor people understand this is the quick rich game and there is a huge difference between these two. So according to me maybe this is the reason behind this.

They do really have that versatility and they do really have that kind of space on which they could really be able to recover on what they had lost considering on the amount that they've been using on which we know that it would really be giving out that kind of probability but just like on what i had said that chances or odds would really be just that the same. There's no poor or rich
when it comes on being lucky because even on small money or fund or balance ,you could really be able to hit up some jackpot on which it is the same to those who do have those big balance.
Although the amount would really able to win up is much less though, which is it is really that understandable. Gambler should at least be realizing it on the first place.

Yeah, wealthy people (rich) have more advantages than those who are less financially well-off (poor). Indeed, rich people often have more money to spare and they can gamble higher amounts without experiencing financial consequences. and they have even more potential to gain a large profit because they would more like to take risk and place a large bet. They were more like into private gaming clubs or casinos that offer a higher stake. Especially if some of the rich people are fond of gambling then they were more likely to have more experience, knowledge and strategies that they can apply to gambling.

Compared to poor people some might be addicted because of greed. They may not control their emotions and be desperate for quick money that even if they were struggling financially, they will always find ways to gamble. There are also some people who borrow money and then later on have a conflict with the person they owe.
So, therefore, it is crucial to minimize the risk and only lose money you can afford.

The factor of circumstances and weak finances in real life is the biggest driver that makes them always chase victory and do not care how much money they sacrifice, actually what they do is not a struggle to achieve a big win but slowly if you or they realize the facts that occur are actions and goals like that only throw their money drained slowly and without realizing it, the more they are surprised by the amount they lose a lot then another possibility or another decision that seems more likely they will choose to act more aggressively because of the inability to accept the risks that occur.

In fact there will  never be a better situation if you have that perspective on gambling, simply put when you lose you will be curious and when you win you will be addicted, so it's actually a cycle for people who are already into addiction. For the rich themselves it obviously seems to be true that a good financial situation will not make them act excessively, the logic is as you said that by having many sources of income then obviously at first glance I already know that most likely they come just to fill their empty time along with seeking entertainment, while the poor have a purpose that is not recommended, as I said that the situation factor is the cause.

They are encouraged to continue gambling using more and more money, just wanting to win from gambling and wanting to change their lives for the better. Unfortunately, it won't be easy because, in gambling, they can experience more and more losses, and if they don't realize it, they will end up spending a lot of money that they could have saved. They will not remember how much money they have spent gambling because they will continue gambling even though they have lost a lot of money. If they saw the amount of money they used, they might also be shocked, but that still wouldn't stop them from gambling. Maybe if they have gotten a big win, they won't stop because they have felt the big win and instead want to get more big wins and will continue gambling.

I think many rich people probably also gamble and spend their money on gambling but they still have sources of income from many places so if they spend a lot of money, it won't really affect them. Rich people can also gamble whenever they want. But they prioritize their business matters rather than gambling because, for them, gambling is just entertainment that they don't need to do too often. If they can get more business, they can have even more money. They know that when gambling, they cannot expect always to win, so that is why they only gamble for fun and can stop once they have had enough of gambling.

People who gamble and hope to win are really trying to win because they see that gambling can give them a win so they don't calculate how much they spend on gambling. They want to get rich from gambling because they have seen several people succeed in becoming rich and winning a lot of money from gambling. But they don't remember that to get that big win, they have to use a lot of money and other things that can help them win. If they lose, it will only increase their emotions and they will consider increasing the bet amount.

Rich people don't have a problem with losing when playing gambling and they consider it a normal thing, especially since they also know that in gambling games, losing is something that happens most often. So they only gamble with the money they can afford, which is a very large amount of money for most people. The goal of rich people in gambling is to get pleasure that is different from other pleasures so that they can accept defeat if they lose. Meanwhile, people should use gambling appropriately and not use a lot of money to avoid losing a lot.

Yes, you are spot on.

The rich actually will probably not gamble at all.

That's because they make their decisions based on rational thinking, and gambling has a negative return.

Pretty bad business case for a rich person to invest in it. I mean, they might own the casino, but they wouldn't bet a substantial amount.

It's true, the mentality that rich and poor gamblers have is different. rich gamblers tend to have a strong mentality so they don't hesitate with the amount of bets they play, because they feel they have a lot of money so they won't hesitate with actions that are at great risk. and poor gamblers  tend to have a bad mentality, they tend to be afraid and anxious about losing their money because they gamble with the aim of doubling the money they have so that they can increase it, but this makes them gamble tensely, because they don't want to lose the money they bet.

Although there are opportunities to get a profitable win that can also make them financially good, of course, there are also  opportunities for losses that they will feel financially. and it is true that the host will always win, even if they win, it may only be a small win that is also unethical or not enough for them to spend. if they want to improve their finances I think they should work instead of gambling, although for the reason of trying their luck it is not recommended. it is better to gamble with entertainment purposes only.

You said it like rich does not care about money. They dont care how much they spend or lose. But that isnt right. If it was like this, they would become poor quickly.

People have created a vision that rich win more simply because they place more bets. But people dont think about win:lose ration. Rich people have it the same as poor people, because gambling rules are equal for everyone.

     -  This is right what you said, mate. Rich people, when they lose, are less concerned about the amount of money they lose compared to the amount a non-rich gambler loses. That's the difference between those two people.

But there are also times when the poor gambler is luckier compared to the rich. You know what it means to say that there are times when the rich person loses a lot but the poor gambler wins a lot in gambling. I can say that this is also their difference.

We have reasons to gamble on matches, be it 100% legit or not, we just have to stick to enjoying the good moments of gambling. First, what differentiate them is mentality, the rich have balance and high level mentality, they're in the system to get extra changes and staking with hugh capital while the poor have just one main focus, they're always in desperate position to gain money and they're in for making it stable source of income. The rich are meant to win more than those that don't have sufficient money to place wager on game, it's simple to adapt to any strategy that yields good results.

Rich people use much more money so it is very natural that when they win they will get bigger amount and of course no one can follow the betting method of rich people if they don't have the same abilities.
Maybe we feel jealous and want the same thing so we can get a big win too, but we also have to think about the risks, if you gamble by pushing your abilities then when you lose there will only be regret.
Let try not to look at the winning results of rich people but rather look at the results of their losses, we will definitely shake our heads and in our hearts say don't experience the same thing.
If you just look at other people luck, it very enjoyable, but don't be influenced because with every luck there are still losses that have come or are waiting.

As you said, dare to borrow money to be able to gamble with larger amounts, but is that guaranteed to win?
Of course not and every gambler must realize that they must think about the negative impacts such as losing so that they are not affected by the big win they want to get.
Moreover, borrowing money just to gamble is not the right action, we have to consider it carefully.