Topic: Why the rich win gambling more than the poor. - page 24. (Read 3724 times)

Maybe rich people will bet without hesitation because they have a lot of capital to gamble so they don't think about the chances of losing or winning where they bet just to get a sensation that can make them satisfied. Also rich people do have a greater chance of winning because they have a lot of capital as well as the bets they make with not small amounts, there is no doubt about the bets they make, while their money is there they will do it without the slightest doubt.

In contrast to poor people where they gamble with the aim of wanting to win so that they can bring it to meet their needs that are completely lacking, and also they gamble with anxiety fear of losing the money they have, gambling carefully does not guarantee they can win. There is still a big chance of losing and there is no avoiding that.

I think the rich always play smart, by playing there games with huge amount of money with less odd why the poor play with less money with higher odd. If gambling was to play with lesser odd with higher money I think they would have been making alot of money. Note: the higher the odd the riskier the game.

Another fact is that because they have more capital they get more chances where the poor's doesn't. They have limited capital to bet. They can't even effort to play 20 games a day where rich are playing 100 even more games a day. It won't even matter if he looses 100 more. That's the key difference. If I had more rocks, I would have more chances to hit the target. Exactly this philosophy.

Whether rich or poor, gamblers can both be lucky and win a lot of money, but it will depend on their luck because we won't know who will be lucky in the next round. But when rich gamblers can place bigger bets than poor gamblers and rich gamblers win the bet, it means that rich gamblers can win more money than poor gamblers. But poor gamblers, with their limited capital for gambling and also in placing small bets, will not be able to win as much money as rich gamblers. We cannot compare between rich and poor gamblers because they will each have different amounts of money used for gambling.

Winnings and losses will always come while they are gambling, and if they cannot control themselves well, they will only lose more money without being able to recover their losses. If poor gamblers know about this and try to control themselves well and keep their money from running out quickly, they can definitely enjoy gambling well and will not experience any problems. We really have to get out immediately after winning big because that is to save the winning money so that it is not used to continue gambling because our greed will get bigger. We have to control that greed.

There are simply analogies of life that doesn't need deep knowledge or research for one to know about them and I think who wins more between a gambler that's rich and the one that's trying to survive falls in that category. When a gambler that's rich wants to gamble, his chances of losing are slim because he'll gamble on very big odds and stake a huge sum of money in it while a poor gambler will want to gamble on very small odds and stake with small money in other to win big from it.

Gambling is one engagement that one shouldn't venture into with the aim of becoming successful in it but as we all know, most of the poor gamblers out there are engaging in gambling because they want to alleviate from poverty through gambling and that's why majority of gambling addicts are mostly poor people.

This is a real fact and even I and other friends may often remind you of what you said, why it is important to use a healthy mindset, just like rich people who always think that gambling is just entertainment to have fun, so they Rich gamblers don't feel any pressure so they really enjoy the game and don't play beyond their limits, let alone lose money quickly.

This is different from the way most poor people think, they are obsessed with getting rich and end up betting recklessly and even irresponsibly until they end up bankrupt because of their obsession with wanting to get a lot of money and become rich from the gambling they play, actually this is just a matter of mindset, the rich and the poor both have the same lucky and unlucky days, that's the only thing that differentiates them.

Where did you come up with this info? Any link to the source of information? Where did you observe the performance of rich gamblers?
It seems kinda logical for the rich to be successful at gambling. If you have more money, the chances for you to hit a big win are higher.
By the way, the term "successful at gambling" shouldn't be taken seriously, because nobody is successful at gambling in the long run.
The casino always wins in the long run, so the casino owner is the only one, who is truly successful at gambling. I don't have a problem with this, because I gamble for fun.
By the way, if you are really poor(you don't have enough to meet all your needs) spending your money on gambling is the worst financial decision ever. Poor people should stay away from gambling.

Yes I also see the difference between rich and poor gamblers when it comes to gambling, the difference is only mental. When the rich gamble, they don't think about money so they don't hesitate when making decisions. This is different from the poor when they make decisions full of doubts so that in the end the decisions they take are also wrong. Gambling games sometimes require confidence that if you only lose, you will definitely lose, such as when playing slots and betting on football.

Yes, of course the most common thing is why the rich always win and the poor always lose because the mindset and goals of gambling are different between the two. The rich just want to have fun while the poor only want to earn income and even want to get rich quickly.

For poor people who gamble, in my opinion, they should not force themselves to gamble, because it clearly will not help their poor or mediocre situation, because gambling tends to only result in defeat even though there is a chance to win but I think it's best not to get excited because gambling also has a strong attraction for people who play it regardless of who is playing.
Also if they depend on gambling in my opinion it will only make it difficult for them in the future, gambling cannot solve all their economic problems even this will make it more difficult for them because they may be addicted to gambling.

You are right, rich people who gamble are only for the purpose of seeking pleasure no more than that, also rich people do not seem to hesitate by stepping, they do not hesitate with the money they put in gambling. It is likely that they already know the meaning of gambling where it is only a place to seek pleasure not a place to make money. Unlike the poor who may be nervous if their money has started to run low, they doubt and maybe they are not fully confident in what they are doing, maybe they are also worried about the money they have in gambling. It may be true that the system takes advantage of them,  because gambling also has a strong attraction to attract all people who gamble to become addicted, whether the answer is difficult or not, they must be able to realize that the money they have is not entirely for betting in gambling.

That is right. We can look on differently on «rich wins more than poor». Rich wins more, but he bets more and looses more, while poor bets less and looses less, while the all have same odds. But maybe rich have slightly better odds due to his betting history and account status on a casinos (VIPs I think have a bit better bets).

What I like about casinos, that they allow gambler with any income to gamble. Rich or poor, does not matter. Both have their piece of fun, addiction, excitement.

Also good point would be, while gambling, rich can become poor, and poor can become rich. Poor has less to lose than rich, so I dont know who will be in better position by the end of the day.

something that is excessive or big is usually riskier, not just the money you have, even in gambling there is the same risk when a slot game has high volatility with a maxwin above 20,000x usually there is a big risk of losing large amounts of money to chase the maxwin while slot games with medium volatility have a maxwin of 5000x, it will be a little easier to get it and another example in sports betting is by choosing to bet on a parlay bet with total odds @1000, the risk is very big because you have to win all the matches you choose, whereas in sports there are always surprises and compared to smaller single bets, choosing to bet on 1 match with odds @1.5 will be easier to win.

example above that I mentioned answers your concerns about rich people who have a lot of money also having big risks just like these bets and actually winning cannot be measured by how much money you have but how lucky you are today.

There would really be no exemption whether you are rich or poor, when it comes odds or chance then it would really be just the same and this is something that people should really be that realizing
in the first place. This is why it would be important that you should really aware on how gambling works, just like the rest been saying that when it comes to versatility then rich people would really be having that kind of possible extension of their strategies on which they could have the chance on recovering but at the same time the risks is really that much higher since it is really needing that spending even more. This is why it is really that important that you should be wary about on the actions you are making. It all matters with risks taking whether you are rich or poor.

At the end of the day the rich and the poor both have the same odds when playing in the casino.

The rich actually have more to lose, in absolute terms.

But in general it is the poor who have the more to win. There's no need for the rich to play because they already are rich.

It was not easy to understand what the rich and the poor have to do with winning gambling bets. As far as I know winning or losing in gambling depends a lot on luck. But it is true that those who have money can be mentally strong even if they lose the bet but it becomes different for the poor especially if they lose the bet they have no other option but to break down mentally. That's how the rich and the poor have something in common with winning and losing gambling bets.

That's a valid point, the size of your bankroll has a huge part to play in contributing to he success of a gambler but on the other hand has its disadvantages too. Having a high bankroll also means you have more risk to manage, alongside having a huge and high bankroll you'll also need to have a good funds and risk management skill, else you'll loose more than you could've ever imagined.

A poor gambler is afraid to take risks. He overthinks in his gambling as you said their overthinking prevents them from making sound decisions. They take rather wrong decisions to ensure their victory. On the other hand, a rich man who has no regrets about losing money can continue his bets. As a result, he does not get the opportunity to recover his lost losses easily but it is not easy for those who are poor to recover. Considering the mentioned point we can say that those who are financially independent will be ahead in gambling. However, the situation is not the same for everyone. Many poor gamblers have also found quick financial success through gambling.

I would say the opposite is possible as well. A rich gambler is rich, and they could win big and not care because they are already rich and keep gambling and lose it all, whereas a poor gambler could gamble and get lucky and win, and they could take that money out right away, withdraw it to their wallet and get out. In that situation the poor one did the smart thing not because they were just smart but because they were poor, if they were rich and had millions then they may have continued too, but because they were poor they wanted the money instead.

I have seen plenty of people like that rich one, guys who wagered 100k, lost it all, and then won 100 k back and lost it again. This is why it is not all that easy to handle this, and people should be careful about what they do, they should not be really caring about it and need to do better in the end. I hope that people could do it, and be fine about it so that they could continue to make some return while not caring about how much they have, just get out when you win big, no matter how poor or rich you are.

For rich people, gambling is just a fun activity that shows how well off they are financially. For poor people, though, its a last-ditch effort to hold on to a fleeting dream that often leads to a sad trap. What makes them bet when the odds are so bad? There is more to it than just "curiosity." There is hope, despair, and societal forces at play. We have to ask: Does the system take advantage of their weakness? They arent just "stupid"; they are caught in a bigger, sneakier loop. How do we get out of this? Get educated? Regulation? Thats a tough problem that needs both empathy and real answers.

The poor man mindset is to make money by all means, they're so desperate to make money that they overthink when betting and it makes them not to make the right decisions. Thinking and knowledge isn't something that's useful when gambling as gambling success depends on luck mostly. The poor individuals don't have enough capital to use in gambling so they spend time overthinking  every bet instead of just depending on their instinct.

The rich individuals gamble without thinking about what he's do when he doesn't win because he has many reserve money that he can use to take of other things. He's very confident when he's betting but the poor man is betting under pressure which makes it difficult for him to win. The mindset between the rich and the poor gamblers are different and that's what differentiate between both gamblers, think like the rich when you gamble not like the poor.

There may be some subtle effects going on that are not being seen. The chances are that someone who has become "rich" as you put it, has better financial control and has learned to evaluate risks better as they have acquired that wealth. This can make them more likely to pick winners, or perhaps make them less likely to overstretch when it comes to gambling, as they might be more content with winning 1.5x their money rather than trying to triple or more. Desperation can be very damaging and lead to fuzzy thinking when you have a little money that you're trying to multiply. However the psychology of gambling is complicated and the amount of risk someone will take very dependent on the individuals experience.