Topic: Why the rich win gambling more than the poor. - page 25. (Read 3724 times)

The only difference between a poor man gambling and a rich person gambling is totally difference from each other, their is something I want you to understand concerning gambling, because it's clear that the rich play gambles with confident why the poor play gamble without confidence, I believe that you have understand that the rich take more of risky than the poor and they gamble to catch fun why the poor gamble to get rich and be comfortable at home, you don't need to gamble and have in mind that in one way to other you depends in gambling to the end.

There is also a point, rich people tend to have more capital to gamble so they don't hesitate to bet without thinking about the defeat that will be obtained, because they have a lot of capital so they are more free to bet on gambling, the defeat they get may not be a big problem for them because they are confident in the capital they have that much.
And for the poor they tend to gamble to multiply money hoping to get a win in order to help their daily basic needs, but they tend to be more careful, do not want to lose the money they bet on gambling because the anxiety with the money allows them to borrow money to gamble again because they are still "curious". and this is his fault, they can make their own lives because of their stupid actions.

In a way this is similar to what we see with the martingale strategy, if someone can only afford to double their bet 10 times and someone else can allow themselves to do it 20 times then it is clear the first gambler will bust their account way more quickly than the second gambler which has a much bigger bankroll, so even if someone is not applying that strategy the same logic follows, however as you mention given enough time the casino will also beat the gambler with the larger capital, as it is just a matter of time until they lose that many times in a row.

Well, when we do a simple analysis, very focused on the most basic , we Know that a Person with a lot of money can eventually do whatever and whatever he wants, 'because the power of money is like that, some say that the Money does not bring happiness, but I would like to have all that money to see if it is true, because I know it is not true, then a Wealthy person could go to a casino and spend a lot of money, if he earns well, but if not, well, maybe It will be very good , which is very different for those who Really go to the casino for fun and to see if they are Lucky to win , that is what I see they can do, most of us in the casino do it and I think that We all seek the same thing, which is to win, but I think the opposite. In the long term, a lot of experience can be gained in a game, in the way of playing and making bets, but in the long term, in a game Session , we are going to lose by chance. simple house edge and that is something that will always remain.

I might think that things are like this when it comes to playing in a casino, very different are those bets that are made in sports, in sports betting things are usually Different , because what the Bettor Knows is used a lot and that helps a lot when choosing, for that reason I make certain purchases or analogies with trading, because this has much to do with what is Known and not with what should actually be done. Luckily, at the time of choosing do anything, we have to review the capabilities we have to be able to put money in, but as I say, a person who is not poor, let's say who has a middle class economic situation, cannot be Wasting money just like that , because Despite all the money you earn is by working and it is Sacred , because things earned with Effort hurt when money like that is lost, that is what should always be Avoided.

The rich probably also have a very considerable advantage of we consider games which are high-risk/high-reward. We all have read and listened stories of how someone managed to hit a jackpot with a single play and with a little bit of wager. That is pure luck.
On the other hand, someone who has much money to spare could try to get a jackpot through time (they may never achieve it) but they certainly have more chances than some random person who only played once or twice and had a giant strike of good luck.
Still, I do not believe there is some strategic component behind the use of a bigger bankroll, besides the management of the risk and the seeking for higher multipliers.

If you are referring to sports gambling such as horse ridding, wrestling, football, cricket then, I do believe you are correct. But when it comes to online gambling, such as games and slots etc, then I think the rich have slightly higher chances.

The way I see it is that, in sports gambling it is possible to predict an outcome based on their previous performance history. But when we gamble in a certain platform at a certain game, there is no way to predict what will happen. It's pure luck. And rich people have more resources to try out their lucks but the poor doesn't.

Your friend is a very intelligent, I can presume. With experience and perfect analysis, he have succeed in gambling.

Simply put, wealthy individuals have strong and stable financial resources, leading to a much more comfortable mindset. With the same amount of gambling, if the wealthy lose, it doesn't significantly impact their lives.

However, for the poor, it could become a burden for them and their families in the future. Gambling is a game of psychology, and if your mindset is not solid, the chances of winning are quite low. How can we make rational decisions when, if we lose, our families might go hungry or incur debt the next day? I experienced this when I invested in crypto with borrowed money.

My mind was always anxious about potentially losing that money. So, when I faced about a 20% loss, I hastily cut my losses, thinking it would continue to decline the next day. A few days later, that amount would have doubled if I hadn't sold early. I truly regretted it, and it became clear to me how much my mindset influenced my decisions at that time.

Statistically, the more you gamble, the higher the chances that you would experience your returns. Since the poor has a limited budget for their expenditure in gambling, then it is obvious that they only have a few chance for them to recover their losses.

Again, the more money that you have, the more chances that you would be able to gamble again your money. According to some sources, in a given day, a gambler has at least 30% of winning. While this may sound relatively low, this can be quite profitable if it is managed well. But the longer you gamble, the higher the chances of you losing as well.

In conclusion, players who have more resources have the privilege of gambling more compared to poor people who only have a limited budget. This gives the former more chances for them to recover their losses (this is assuming in an UNLIMITED budget).

A dealer in a casino might be able to get more tips from a rich person, that's for sure.

And maybe they are able to push a bit (not sure how much they can) so that the rich person plays more.

Actually, I don't think they can talk about the bets with the clients...

Well that's the logic that makes more sense, not only them but we must also have experienced several conditions like that where for example losing a job as the only main income and on the other hand economic needs cannot be tolerated or that means there is no reason at all not to look for money because needs will always be the main thing as long as we are alive. With that situation, it is clear that we will look for and try everything that is important to be able to go home with money, and that is one of the strong and reasonable reasons why poor people have assumptions and mindsets that gambling is a place to earn without knowing the actual facts.

They carry that mindset because it is driven by considerable pressure in terms of needs, while on the other hand gambling is just a place to seek pleasure and not to earn, so that is the reason why usually poor people lose more because the number of their experiments is quite a lot driven by the hope of a pressure. Not only do not have a poor mentality but on the other hand, even though they are financially poor, they should not also be poor in terms of theoretical knowledge and ways of thinking, otherwise the impact will clearly be like this. Rich people have better circumstances, there is no economic pressure and that's what makes them gamble just for fun.

This is true and I noticed this a lot of times already, as there are times that my bankroll is only limited, and I can not re-deposit anymore, so there is no way for me to possibly recover what I previously lost and may be end up earning something in the process.

For the rich peeps, money is not a problem to them, so they can do this most of the times. Even if they lose on their second deposit, they can just deposit again and again up until their luck comes back. I do believe that casinos can always win at the end or the longer we play because of the house edge but there are many instances that I can also win the longer the session I make.

Well,from what I understand,the rich win more because they don't stake small amount of money,they stake on one or two games,and back it up with large amount of money just to double it,but the poor stakes with a very little amount and look for odds that are big,they choose all the games that are to be played that day,and stake on all of them together with a little amount,and there is no way you can predict all games correct,one must cut the ticket.But at thesame time,I think greed is one of the reasons why the poor do not win games regularly,they win games once in a blue moon because the odds they chose to play are high odds, and even when the chance to cashout comes,they will simply refuse because of the small amount of money they used in the staking,the.cashout would also be small.

That's why those of us who don't have a lot of money must also be able to realize that we can just enjoy gambling as it is and don't need to try too hard on ourselves to win. We are different from these rich gamblers in that they have more money that can be used to bet, and they can even place bigger bets than us. By realizing the limitations we have, we will not try to gamble excessively, so we only need to use the time and money we have to place bets, and when we have enough, we can immediately stop gambling and leave the casino. This is a preventive measure so that we don't get a lot of problems from gambling and also don't experience gambling addiction because we can control ourselves when gambling.

Well, it definitely is just an assumption or more like conjecture since OP didn't present any information that might support the claim but a little observation is helpful to know if there's a possibility that this is the truth about income level in gambling, that there's more rich than poor people gambling. I wouldn't say skill is the defining difference between a poor player and a rich player because there are rich players that are big losers in the casino meaning that skill doesn't define your income, the biggest defining quality is already stated, the rich ones wins the most because they got the money and when they bet or gamble, they tend to put more money on the bet which would result in them getting a bigger win compared to a poor player betting a small amount and winning, maybe the size of the bet and resulting reward for the win is what's making us think this way and if this is the case then it's a matter of perspective of who's gambling more, the rich or the poor but that can only work until there's data to be shown to prove all the conjectures wrong.

I don't know from where you found that data of rich win more than poor in gambling.
the odds are same for both, I will say what I think about this, rich wins more often because they have lot of ways and investments from where they can recover their losses quickly.
but poor or people who earn daily and very rarely they are able to save a little amount from that earning, they don't have a easy way or quick way to recover their losses.
it all comes to emotions because rich have source of income from various way so they have less emotional pressure of being broke, but if a person who earn daily and doesn't able to save from that too will risk it all more often and because of it he will lose more often then a rich person who doesn't play emotionally.

Everyone calculates profit and loss, it is a misconception that a rich person would want to pay losses because he has enough money. If a rich person is a millionaire, he dreams of becoming a billionaire. Being a billionaire, if he loses money by gambling one after another, he will not become a billionaire, but his money will only decrease. It is true that gambling depends on gambling skill and not money on stakes. Money may provide support later but gambling cannot win. You may be poor but if you know enough about gambling and if your luck helps you then you can go from poor to financially well off. Gambling is a game of luck as well as a game of skill about gambling and this luck can come to anyone.

There are several reasons that influence the rate of winning of rich people and poor people. To name a few, these are the reasons that I often see which greatly differentiate the two: abundant financial resources, knowledge on risk assessment and management, and being disciplined.

Being rich elevates the advantage in terms of winning gambling because they have more than enough fund to risk for gambling. While it doesn't guarantee since everything is still a risk, it increases their chances because they can bet more and bet huge. While poor people can only bet a little (unless they are addicted) because they have to monitor the flow of money, hence the chances slim out with low frequency of bet and play.

Having the knowledge about risk assessment and management helps a lot too. Knowing this and incorporating it into every play will definitely give them a leverage. Applying different strategies and approaches because you know how to play with the uncertainty will help a gambler achieve more profit. Lastly, discipline. Having self-control is very essential in gambling. Most rich people have a very strong sense of self-control because they know their boundaries. Most of them have other matters to attend to because they only view gambling as entertainment and not a source of income. Unlike for poor people that view gambling as a get rich quick scheme to rise from poverty.

So far I have not found any data that says that the percentage of rich people winning gambling is greater than that of poor people. I think this is just your assumption, because I think poor people and rich people have the same chance of winning. The only difference is skill. Yes, rich people have skills that are above the average of poor people because of their knowledge and analysis and maybe that is what makes their winning percentage greater. But saying that most rich people win more than poor people is not true.

It depends to our own observations but you already answered your own questions, mate. As you can see, those "some" rich people are not chasing winning since gambling is a part of their leisures and they gamble in a less stress manner which helps them to think and to analyze better. Seeing rich people's reaction when they are losing their bets are so casual and normal. You have a point that rich and poor are all the same when it comes to chances of winning, , Sometimes those middle class person tends to win more than the upper class,  but those lower/middle class person are usually developing a signs of a person who's addicted in gambling. Though, there will be small changes when it comes to the bank rolls of a gambler because there is a saying that the bigger your bank roll, the bigger your money and chances of winning will be.

You have to prove that because there's no data that you can prove this is correct, not because you are rich you are guaranteed to win even if you have a huge bankroll in the casino are a game of chance or luck and it will not pick or choose gambler to win, the casino house edge has no specific classification of people you'll win if you're lucky regardless if you're poor or lose.


I am not rich but I do win from time to time and I have a poor friend who I consider so lucky because he won many times in horse racing so now he is not poor nor rich but he is proof that rich or poor your chances are all the same, no category in life has a monopoly when it comes to gambling.