Topic: Why the rich win gambling more than the poor. - page 29. (Read 3724 times)

Bankroll is part of the reason but also the media makes a big deal when a celebrity influencer wins a lot of money. We don't hear much about a whale going bust and losing millions in one night. This causes us to perceive that rich people are just winning all the time when in reality they are also the biggest losers. Having greater wealth can have certain benefits when gambling but you can also incur higher risk so it ends up balancing out where statistically the average rich person will have a similar losing percentage as someone who is poor.

I don't appreciate the above text but several times I find this object in practically.

Rich people choose gambling as a means of entertainment to relieve their loneliness, loneliness. Since they don't choose gambling as a form of entertainment, they don't stress about it here.

On the other hand, there are relatively rich people or people living below the poverty line. They invest all they have in gambling, and if he does not profit from this investment he becomes penniless and a street beggar. So he has to take every step very thoughtfully and slowly and every step he takes is worried that if there is a loss, if there is a loss. He who holds the loss in his mind and carries it, then what will happen to him except loss?

One thing is true whoever thinks, Allah gives him the fruits of his thoughts. If someone thinks good then he gets good results and if someone thinks bad then he gets bad results, that's normal!

Note: A financially well-off person takes up gambling as a form of entertainment. A poor man is going to take up gambling as his profession. He wants to take it as his only source of income. So a poor person is always worried about his investments as compared to a wealthy person. As a result, an indigent person has to count losses on his investment.

A proverb says, "Too greedy, the weaver is ruined...!"

Because rich people don't hesitate to spend a certain amount of money to gamble and once win a large amount, but keep in mind that even though rich people win more capital, they spend more on gambling, not just once, they may have lost a lot of money, but they don't care about that and keep betting on amounts that they think are small but according to poor people it is a large amount and the winnings according to them are only small wins, and they use gambling not to make money but for entertainment if they win they will continue to gamble until the limit the money they spent is gone.

Poor people have limited finances because they have to divide their finances for daily needs and for playing, so poor people tend to place bets in small amounts because they avoid big losses, therefore the winnings are not too big, different from the winnings of rich people, so you can It can be concluded that big gambling wins depend on the financial expenditure they bet, if it is small then they get a small profit, if they are big the profit is also big.

I dont think so but it could be like that if we look at the real gambling site ex. los angeles. but this is gambling and it all depends on how much is money you are going to throw if we only throw couple of bucks the we win a little but if we throw a lot when win we also had a lot of money.

Just like trading I see some people make couple of thousand dollar by trading in just couple of hour  it simply because he had lot of money

At the end of the day what matters is the odds in the game.

Whatever amount of money you gamble is not relevant to see if you end up winning or losing.

Actually, if you are rich you can end up losing more money.

In the end, the amount of money you have at the start can be seen simply as a multiplier.

If you assume your initial amount of money is 1, then you gamble for some time, the expected return of that number will be negative.

It doesn't matter if you have more or less, the end result is that you will most probably lose money. The amount will depend on how much you pay.

That is true, I agree with that as well. When you have a lot more money than someone else, you have a lot more chances to chase the loss as well. I understand that it may not look like there isn't one but I think it's obvious that they could do a lot better. I know that we can't really make it change up all that much, and we need to figure out how we could end up with something that will benefit the situation. Think about it, if you have a lol more money then it also means that you have a lot more to lose.

This isn't some "poor persons wish type of thing, I just believe that if you gamble with 100 bucks because you are poor, that means 100 bucks is all you can lose, but if you are rich, then you can gamble with 1 million, and lose all of that.

I've noticed this, and they have higher chances of winning big in sport betting. Take for instance, celebrities who wager about $1million in a single game to double their earning. That's really a fast method to win close to another 1 million dollars, just in a single game. But those with little funds, can't achieve it, without staking on 100 games. Even in slot games the bigger the wager the better the chances of winning a huge amount in return. However, the rich gambler still have to be smart and skillful, in regards to gambling. Not all of them would be wise enough to make meaningful predictions, thereby risking their money. Gambling is still risky for both parties if they don't follow specific strategies that works. If the gambler with lesser amount of money, works according to his budget, he'll still win good amount of money, but won't be as big as the high rollers returns. Yet in OP's question, it'll be hard to determine who wins more in a roll. Aside in amount of money. I mean individually wins per bet, the low roller can be seeing more wins, just that it won't be huge amount.

Your assertion could be just a small isolated cases. There is no data that shows that the rich win more at gambling than the poor. Casinos or sportsbook do not discriminate. By the way, how can they if a rich person from a poor person. Maybe you may say that your observation is from the internet, The next question that I would ask you is, have you seen 100 rich persons who have won at gambling on the internet. If you had brought some evidence to support your claim them we would have a way to kick start the conversation. Nothing here other than arm chair philosophizing.

That is easy to come as a conclusion and it is pretty simple,you say it yourself,meaning that people who don't meet end needs usually gamble very little money compared to those financially comfortable who have more money can play longer and we all know the unwritten rule for gambling,the longer you play the longer your chances of winning it big.

Based on this I am not surprised at all by this statement which is totally correct,the rich can win more than the poor for that simple fact that they can play longer than the poor,as easy as that,there it has nothing to do with luck at all,simple statistical and probability favoring those who can play more.

I do believe it's because of the deep wallet that's why every gambler thinks that the rich win more. But, let's face it they are also losing more if luck won't be on their side.
Same as low rollers, they have that unlucky streak that will happen a lot of times. The only perks that they will have is they can get more in rakeback and other bonuses like the monthly and weekly bonuses that are mostly given for most of the gambling sites in the industry, especially in this forum.
Stake.com has both features and there are some changes made which will make more money for those who can wage higher. So these rich people that we are talking about now will have better profits, but that's if they will be wise on where they will put their bets.
When it comes to wagering, I think Plinko has the best chance to increase that amount.

Well while this is true that the rich people have more money and more resources to gamble and take more risk but this can sometimes be in the disadvantage too. For example a person who has a lot of money will keep on gambling more and more and therefore if he start to lose his loss will be huge as compared to a person who just have limited amount to spend in gambling and he can only lose that limited amount.

However still it is more advantageous and convenient to be a rich gambler then to be a poor gambler. If a gambler knows that he has to put only limited amount in the gambling, the rich gambler always will be at the peace of mind.

I think rich or poor doesn't matter. The only thing matter is that who has enough resources to overcome the losses. Obviously the riches. They can try different games, different strategy to minimize their looses. But when it comes to poor, they don't get enough chances. They are goes under and unable to play in just some games. That's the greatest advantage rich has, the ability to do multiple bets.

Range wise or speaking about recovery wise, then having bigger money does have the chance on recovering whenever they are experiencing losses, unlike into those small time gamblers on which on the time that they would experiencing streaks then that would already be the end for them but for those who do have that sufficient fund then they could really be able to potentially recover if they are lucky enough but if not
then it would really be much more deeper and it is really that making that entire devastation into your finances. Surely means that it would be still giving out that kind of impact on which it is already that expected.

Agree on some points above that versatility and adjustments will really be that possible when you do have bigger bankroll and also it cant be denied that when you do see someone
who do make big base bets then you would already be assuming that they are rich and when big time hits then you do already conclude that they are in profits on which without
even knowing that neither they are still negative or breakeven or profitable. There's no way on knowing it out.

Yes it's true because they are rich people have a lot of money for multipliers so they can recover their losses and win the game, but that's probably only part of what OP sees, not all rich people always win too, poor or rich makes no difference playing in a casino or gambling sites will all lose in the end and it is the casino that will win the game against its users.

I don't think it's necessary to see whether someone is rich or poor, even poor people often win, it's just that we never see it and it happens that rich people are often seen winning, usually they always want their game to be shown, for example an influencer or streamer, so it still all needs luck. to win and one thing you need to remember is don't be too busy taking care of other people's wins and other people's luck, just think about yourself playing and enjoying the game.

The answer is, they deploy the pattern of "Less risk more staking Power" a rich man can pick out less risky games and follow it up with high staking Power. For instance, in Sportsbettimg, they can pick out just one or two games that has huge chances of coming through then stake with a very huge amount. The same might be given to a poor gambler and he'd consider the odds very small and decides to add a few more games to further increase the odds and then stake with very little amount of money. So now tell me, who's likely to be on the winning side?
With the rich gambler's method and technique of gambling, he'd record more wins that losses which is quite the opposite for the poor gambler.

It maybe true but actually we don't know the real static about it since provably those rich people doesn't show their own stats. Maybe they are just showing the win result and not their losses since they don't want to be on situation where many people ashamed them because of their big losses. But most of the time the reason why they acquired that its because they are the one capable to spend more and maybe they can shift the negative result into positive while deciding to bet for more long hours.

They maybe prone to experience this what we called addiction if they are newbie but if they are experience gambler for sure no something like that gonna happen since this people will just erase those negative thinking and continue to gamble.

lets have a factual discussion and let temporarily ignore that rich people are better able to continue betting to get a chance of winning, whereas the longer you persist in gambling, the more you lose because the house edge always wins.

lets take an example of you and me, for example you have $1m, I only have a budget of $100 and when you bet $1000 you get a win of $2000, you think its a small amount but for a small gambler like me its a big win.

In conclusion, this is only about the financial condition of each gambler, which is different, so we cannot assume that rich gamblers have the opportunity to always win, whereas gambling is only about how good our luck is so get rid of thoughts about rich gamblers winning more often even small gamblers can also get big wins.

That's very true because those who have big money can bet repeatedly and have a chance to win more than people who don't have big money. Those who don't have big money have to try to win, but unfortunately, before they can win, they will experience loss, which can cause all their money to run out. But that doesn't happen to people who have big money because they can keep betting with small bets until they can get the winnings they want. But they have more chances of experiencing gambling addiction because betting too long can increase their emotions and also the desire to win will increase. If they cannot control themselves, they will repeat it at a later time and this is what can cause them to become addicted to gambling.

It is mathematically impossible for them to win more at the same odds as everyone else.

But perhaps you mean to say that rich gamblers win more? Because I would of course totally agree with you if thats the case. But then again they also lose more than the average joe gambler. So its better to look at things from the perspective of a win/loss ratio. And I think you will find that the ratio does not change and remains around more  or less the same for both rich and poor gamblers.

The rich guy wins and loses just as often as the average Joe. He just plays with higher numbers.

Not sure, but if I had to guess I would say it has something to do with the liquidity those people have in comparison to someone who does not have much money.
The more money one has it means the wager is bigger and the session will also last longer.

A person who cannot spend much on gambling will try to get modest multipliers in order to extend their session as much as possible, even if they have luck those multipliers won't translate into a significant amount to for them.
On the other hand, a person who had much more to gamble will go for higher multipliers and it may only take them to have good luck in one of two sessions for them to recover their money and get significant wins in the process.