Topic: Why the rich win gambling more than the poor. - page 21. (Read 3724 times)

But what kind of rich person do you mean by this statement?
Because if the people we are talking about are rich people who are also investors or business people, they will use gambling more as place to have fun and don't really care about money, after all the way they gamble is also different.
But if it is only limited to rich people, like those in general who have a lot of money, then it is clear that they gamble not just for fun but to make profit and of course rich people like this are willing to spend more money and spend longer time to gamble.
It all depends on their personality and status as rich people behind the scenes.

You are right but not all of them, I will answer the reason is the same as I said before there are two differences between rich people.
It just that people from lower middle class economy are still trying to make money easily and quickly, which is why responses about gambling will differ between their social status groups.
After all, not all rich people don't care about money, those rich people who aim to make money from betting will also have regrets if they lose big.
Just look out there, not all rich people are the same as you say.

Similarly, it increases their risk of losing lots of money in gambling. Wagering huge amounts of money reduces their wealth real quick and the win they get via gambling also goes back to gambling. Beyond betting the rich have better-paying jobs that yield them huge amounts of money. And they don't gamble for money anymore, most of them prefer gambling for the fun. But, I've heard of rich gamblers who went broke through gambling. Most especially those gamblers who got rich in gambling; the jackpot winners. A rich gambler who isn't careful with managing his wealth can make similar mistakes. Rich or poor, it's of great importance for a gambler to be careful about the way he spends his money, gambling. Reckless gambling knows no boundary and can affect anybody. On the contrary, like you said, their wins are always big, because of the high roll bank they've got. Which sounds or looks like the rich win more than the low rollers.

That doesn't mean that a low roller won't win big with little amounts. It depends on the odds he plays with his budget. So, if the rich gambler doesn't understand the right ethics of gambling and the strategies required to maintain his wealth. He'd regret gambling. Addiction could spoil his business productivity and leave him with only gambling activities. Although the rich and skilled gamblers always make big profits in gambling. For instance, by wagering a hundred thousand bucks on a single football team to win, the rich player has a better chance of winning the game and gaining more money. While the low roller would have to spend a few bucks on a few more games, reducing his chances of winning. In sports gambling, the richer players have better chances of either winning or losing big. But in slot games, it's very risky for any player who doesn't follow good gambling strategies.

Don't get discouraged that the ones with more money are winning more than those said poor. These poor people aren't really poor, they know that they've got money but they probably just designate a portion of their money that's too small for them to don't stay for too long.

We see various threads about the stay in gambling and the allocation of budget. Not every poor guy that you see that gambles are really poor and that's why you have to reconsider them as well that it's not just like that.

But at the same time, that might just their strategy to not spend too much money in gambling.

But the chances for a poor to hit that lucky strike are shorter, that's what it means to have fewer funds in your wallet while the rich can play as long as they want until they get broke, or maybe not because they will hit that lucky shot in some of their bets as it goes on.
Is it better to be poor? Hilarious.
Actually, it's a good point too, as those with fewer funds are taking care of their balance. They don't want to get wrecked fast so all the bets are carefully analyzed especially if it's in the sports betting section. One good parlay could enlarge those funds as long as it has been studied carefully. If you are rich will you still do that? I don't think so. There's a chance they are only relying on other people's predictions or they will just pick the favorites so that the percentage of winning is higher against the underdog.
You are right though, those who got rich through gambling are a different story. They know what they are doing and they won't just input any bet without understanding the risk that is involved.

I'm not sure where you observed that, in my experience it's completely random. Rich people can win big and can also lose huge amounts. Poor (relatively) people can also win big if they're lucky but they can't lose much as they don't have many funds to lose. If we follow this logic, it's even better to be poor. 

However, if you mean rich who became rich by gambling a lot successfully, then it's a different story. Then these are pro gamblers and I'm sure they will do better than 99% of gamblers.

That's not true at all.  Richer people have a higher propensity to gamble more because they have more money to lose so naturally the optics would look like they win more.  I would say it's just because they gamble more.  That and the amount is probably much higher per bet which skews the optics as well.  Your financial position doesn't dictate if you would win or lose more.

Just as in their different statuses, the difference between the rich and poor whether in gambling, in society, in popularity, in trading, and in anything you can relate to them is money, nothing else. Both the rich and poor are humans, but their statuses differentiate them, not that the rich are a kind of superbeing in their dealings. Even in some cases, the poor are better than the rich, but the clause of money will always be a barrier for the poor. Frankly, I must say I like the way you related things together, every one of them bleeds from their losses, and the rich can even bleed more in gambling because they might because of that richness cough out more money for the house while the poor cough a little. But the difference is that the rich might still have enough money to fall back on while the poor might not have so much and will continue to try to manage themselves so that they will not go beyond what they are capable of. Regardless, I conclude that we should let the two classes continue to gamble and manage their portfolio as long as it could take them. I rate them the same in gambling, and that's how it is supposed to be.

Cant you imagine rich folks gambling leisurely? They appear more interested in fun and companionship than profit. Their gambling may be like golfing or painting without the money burden.

Hypothesis: the wealthy use gambling as a social playground to challenge and entertain each other. Not the money, but the game and connection are captivating. The poor regard gambling as a way out of financial trouble, which increases their desire to win. This may explain why rich individuals like gambling more - its a hobby, not a desperate search for fortune. Participation is more important than winning!

There's nothing to believe in about the rich people winning, this is a gambling challenge, let the people who are not rich also take up the challenge for making it to the top of highest winners, sometimes we do belittle ourselves and assume failure already even when we have not yet failed in every attempts on what we are doing, gambling has equal rights on everyone, we determine what we want and go for it.

The only reason it seems the rich has more chances of winning is because of the difference in their bankroll, the rich has a bigger bankroll so when they win, they win way bigger than the poor but regardless that, the chances are and odds are just the same with the rich as it is with the poor.
I also know of a rich friend of mine who's a gambler, he called me up one morning and told me he was gonna quite gambling for a while because he's been loosing quite a lot in gambling lol. So even the rich are experiencing the same losses and winnings as much as the poor are experiencing it, the difference is just in the bankroll.

Sometimes I even think the rich loses more because since they have a huge bankroll, their losses also comes in massive amounts and they tend to loose much more money than the poor who has a small bankroll.

Buy most at times there some poor who gambles and becomes successful I have seen and witnessed a gambler who gamble and made something good not that his own turned to gambling addiction but has strategically develop himself to know how to gamble and today he is living large and driving whatever expensive cars he wishes, people do consults him to asked about how he became successful and what he said is that he didn't know what's behind his successful through gambling.

As for me, I bet quite rarely and only on my favorite matches, so it turns out that I have fun and do it in doses to control the number of bets and not make too many of them. I also have a condition under which I place a bet: the odds are higher than 2 or 3.

I have come to this situation for myself over several years and this is a great solution for me. As a result, I get everything: the pleasure that the process of choosing (analyzing) a bet gives me and not often watching the matches of my favorite teams, large odds and the rarity of bets so that in total I feel great. I don’t think I can come up with anything better for myself; the rich have their own betting conditions. The poor have nothing but primary feelings, so until they develop a clear strategy and why they bet, they will always remain poor.

I have never seen a rich person that does not wants to get even more rich. I have never seen a rich person being careless with money (if not only he is hesitating to buy still water that cost 50 cents or several dollars). If they dont have ambition to win or be a winner in this life, then I dont know how they became rich. But, I can agree that rich people gamble for fun more frequent than poor person simply gambles. Maybe from their frequent gambling the fact that they win more was raised.

Because rich people have no ambition to win, they use their money to gamble and aim to have fun. If they happen to win their bet, they will use it again to gamble until the money they bet runs out. I think rich people are more likely to have fun than make a profit because they already have it. having a business that is more certain to provide profits, while their goal in gambling is only to find pleasure in gathering with other rich friends to carry out gambling activities together and what is certain is that rich people have special money that is intended for gambling and for other needs, they also have special finances.

In contrast to poor people whose goal is to make a profit, the more ambitious they are to win, the further we will be from luck. Sometimes luck comes at uncertain times and in the end poor people lose more money because they always losess.

Yes, there is definitely different ways for a person to become rich.

Probably the people that got the money easily will be spending it on casinos and lose it quickly.

But people that have invested well in their lives will most probably not spend their fortune at casinos.

There are many types of rich, partly maybe as you said, people who are rich because of their mind and intelligence, that helps them see the game with gambling more accurately, most especially, their psychology is too natural and less volatile, and as long as they don't gamble excessively, anywhere in gambling is dawn for them. But like many stimulants, it initially prides itself on its ability to sublimate, but after it has stripped away all its underlying foundations, it rots, gambling is billions of termites digging straight into finances, just a few years of gambling, the loss threshold will be extremely high even if we are a rich person.

What happened here is that not because you give a rest but you noticed you weren't that knowledgeable enough so you needed to for more skills to enable you win But here, do you know that when most of the poor are gambling they gamble with all desperacy with the mindset to make something very special, especially when it comes of game select for those that are more conversance with sports betting they will pick multiple games upto 10 above but what I senses from the Rich is that they only gambling with 1.2 odds and stake higher.
The rich don't mind staking with $10k for game with only 1.5 odds or 2 odds this gives them the higher probability of winning that is why we often noticed that the Rich keeps winning in every angle they finds themselves why the poor would want to attach greed to it, this can't be possible to achieved.

People who prepare to gamble with little money often lose money and fall into despair because poor people always prepare to gamble with little money and rich people always prepare to gamble with more money.  The advantage of gambling is that if some money is lost, one can stay in the field to recover the loss. And when gambling with a small amount of money is lost, there is nothing else to do.

Just picture two gamblers, one wealthy and the other poor. Their stories couldnt be more different, even though they share a table. Rich gamblers regard losses as little more than a dent in their wallet and view this as relaxation. Its a high-stakes game, and every defeat hurts deeply for the low-income bettor. This is when it gets really important: The playing field isnt level in gambling. Rich people play with spare money, whereas the destitute frequently play with their lifelines. Although its hard to resist the appeal of "big wins," gambling is a risk, not a sure thing.

The fix? Awareness and instruction. The hazards must be understood by gamblers, particularly the less wealthy. Understanding when to give up is only one aspect of it; another is realizing that gambling is a risk rather than a steady source of revenue. This has nothing to do with dash dreams, but rather with safeguarding the weak. We can protect people for whom losing is more than just a game; its a real-life setback by encouraging responsible gambling.

I agree with you because I started playing poker and I had very little money, because of this I was very worried about every bet. These experiences ultimately threw me off balance emotionally and made me do things that are difficult for me to explain to myself. In the end, I entered a high buy-in tournament with all my money and of course lost it. After that I didn't play poker for a very long time. A year passed after that incident and I had a desire to play poker again, only I had more money and no worries. I started playing with a cool head and managed to earn some money.