Why the rich win gambling more than the poor. - page 3.

Bravut

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Quote from: Chilwell on June 06, 2024, 12:49:33 AM

Quote from: Aniel Jay on June 05, 2024, 04:31:35 AM

Quote from: adultcrypto on November 24, 2023, 10:51:56 AM

I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.

Aside from luck, the rich have a greater staking power than the poor, the poor will want to win big with little staking power with a bigger odd which makes the gambling more risky but the rich will pick a small odd and stake a huge amount. In the end, luck also plays a better chance.

You say it all "luck also play a better chance" this is the fact, is no that rich does lose just that we poor people don't get access to them to know whether they are losing or gaining and again because they are rich and also make use of the sense than a poor person, they play with caution and Stake carefully to avoid making a big loss, and the all of it is that they don't make money through gambling rather they first of all have their own business which is the source of their wealth.

Between rich and poor their is huge differences in times of making money and also spending, rich person can be a businessman while Poor men can be a normal hustler that hardly get something to it, so when the come to stake they put little they have to get huge amounts in return which sometimes not possible and that is how the continue to lose and again the stake everything they have that why people noticed them that they lost their game because the lost everything and have nothing to show again.

Like I said before, I do not believe the Rich wins more than the Poor, or the Poor wins more than the Rich. We cannot tell, we can only consider this in terms of edge the Rich have over the Poor which is source of stable income, high stake amount, less pressure when gambling, because this is were the weaknesses of the poor show up, pushing them to gamble irresponsibly and sometime loss much whereas the Rich would always have what to fall back on when they loss much.

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Quote from: ethereumhunter on June 06, 2024, 12:21:07 AM

Quote from: Awaklara on June 05, 2024, 03:45:49 AM

the size of the money bet by rich people and poor people will be different. because everyone has different ability limits to bet on.
the chances of winning for everyone are the same. the difference is that maybe rich people with big bets can get big wins. and a poor man with a small bet will get a small win.
rich people can play longer with smaller bets. but it can also be shorter if the betting is very blind. actually, both are the same. but I don't know how often gamblers bet on middle-to-lower economic groups.

People with small finances can also enjoy gambling. so victory is not reserved for the rich only. anyone who bet has a chance to win.

That's right because rich people will have more money than the poor people and that's why they can gambling with large money and they can wins much money than poor people. Rich people can takes their risks playing gambling using big money because they still have much money in their wallets so they don't minds to lose the money they can afford. Poor people doesn't have to follows what rich people do because they are limits of the money and could only use the money that they can affords to lose.

Every people will have their limits in gambling so each people doesn't have to breaks their limits to playing gambling moderately. As long as they follows that rules, they will be okay and they can enjoy playing gambling using limits money and not complain if they can't wins much money. Poor people should realizes that they can only playing gambling moderately and always limits their money to prevents the big lose.

I think that everyone would like to gamble without getting addicted, but unfortunately the gambling world is made so that gamblers play and play casino or card games. Casinos are powerful organizations and they know the psychology of the player very well, and there are also dishonest casinos among them that can adjust the results of roulette or slots in order to influence the psychology of the player in this way.
I mean, when the casino gives the gambler nothing to win at the beginning, so that the gambler can come back and play more.

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Quote from: Jody.Drummer on June 01, 2024, 12:30:50 PM

Quote from: rodskee on June 01, 2024, 07:10:08 AM

Quote from: Jody.Drummer on May 23, 2024, 08:20:37 AM

Exactly, this is what we should note that even if for example we see rich people getting a very large win which of course the amount of victory is much greater than the poor but of course as you said that we also cannot just focus on one point, meaning that we must look at other possibilities that can never actually be separated in gambling which is the risk of losing, while it is a fact that everyone will definitely experience defeat in their gambling activities regardless of whether they are rich or poor.

And obviously the meaning is as you said which is a fact that if a rich gambler loses then obviously the amount of their loss must also be large and it is a much greater amount of defeat than the defeat experienced by the poor, and obviously the conclusion is that rich and poor gamblers certainly have the same chances and possibilities in terms of winning and losing, but maybe the difference is only in terms of the amount of victory and the amount of defeat, on the other hand I understand that if the rich are lucky then the amount of victory must be greater than the poor, but the point is that anyone can lose regardless of whether they are rich or poor.

You got it buddy , that is exactly what I want to say here because people are just looking about
how much rich people win or lose because those are outstanding and really memorable but for us
Poor gambler we are losing almost every centavo in our pocket each time we gamble.

but in totality of gambling? both rich and poor are losing their money or I mean their hard
earned money .

Yes, people may only see in terms of the amount of winnings where it is clear that the rich gambler gets a bigger win than the poor, because the comparison may be that the rich person bets $1000 in one betting session while the poor gambler only bets $100, and obviously if they both win, the biggest amount of winnings must be the rich person.

its like the money of poor people is thousand times lower than money of the richer so why
do we need to look at the amount instead of looking at the actual activities of each gamblers and
what is the outcome of each gambling days.

Quote

That is true and obvious, but they only see in terms of the winning situation but do not see the possibility of losing which when they are unlucky then obviously the amount of defeat must be greater for the rich than the poor.

if you are a gambler that seeks only for winning and does not accepting the higher opportunity
of losing then you are a stupid loser all your life.

Quote

In the end, yes as I said earlier that what makes sense is that all gamblers also have the same chances and possibilities regardless of whether they are poor or rich, and one thing we must remember is that the amount of budget can in no way be used as a guarantee that you will win at the end of the session, and that is gambling.

perfect , rich or poor? luck may sit with them in uncertain time when we are not expecting this to come
and when you are so eager to win then expect that luck will notlet you find it.

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Quote from: Aniel Jay on June 05, 2024, 04:31:35 AM

Quote from: adultcrypto on November 24, 2023, 10:51:56 AM

I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.

Aside from luck, the rich have a greater staking power than the poor, the poor will want to win big with little staking power with a bigger odd which makes the gambling more risky but the rich will pick a small odd and stake a huge amount. In the end, luck also plays a better chance.

You say it all "luck also play a better chance" this is the fact, is no that rich does lose just that we poor people don't get access to them to know whether they are losing or gaining and again because they are rich and also make use of the sense than a poor person, they play with caution and Stake carefully to avoid making a big loss, and the all of it is that they don't make money through gambling rather they first of all have their own business which is the source of their wealth.

Between rich and poor their is huge differences in times of making money and also spending, rich person can be a businessman while Poor men can be a normal hustler that hardly get something to it, so when the come to stake they put little they have to get huge amounts in return which sometimes not possible and that is how the continue to lose and again the stake everything they have that why people noticed them that they lost their game because the lost everything and have nothing to show again.

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Quote from: Awaklara on June 05, 2024, 03:45:49 AM

the size of the money bet by rich people and poor people will be different. because everyone has different ability limits to bet on.
the chances of winning for everyone are the same. the difference is that maybe rich people with big bets can get big wins. and a poor man with a small bet will get a small win.
rich people can play longer with smaller bets. but it can also be shorter if the betting is very blind. actually, both are the same. but I don't know how often gamblers bet on middle-to-lower economic groups.

People with small finances can also enjoy gambling. so victory is not reserved for the rich only. anyone who bet has a chance to win.

That's right because rich people will have more money than the poor people and that's why they can gambling with large money and they can wins much money than poor people. Rich people can takes their risks playing gambling using big money because they still have much money in their wallets so they don't minds to lose the money they can afford. Poor people doesn't have to follows what rich people do because they are limits of the money and could only use the money that they can affords to lose.

Every people will have their limits in gambling so each people doesn't have to breaks their limits to playing gambling moderately. As long as they follows that rules, they will be okay and they can enjoy playing gambling using limits money and not complain if they can't wins much money. Poor people should realizes that they can only playing gambling moderately and always limits their money to prevents the big lose.

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Quote from: asrinur on June 05, 2024, 03:41:53 AM

In my opinion, one of the reasons why rich people win a lot at gambling is because they have bigger capital so they can bet more and stay in the game longer. In addition, rich people usually also take bigger risks without fear of losing all their money. However, it needs to be understood that people who win more at gambling will definitely experience more losses beforehand because no one who plays gambling for the first time immediately wins a lot and has definitely experienced losses before.

Yes, that's right, with rich people having more capital, of course they can place bets as they wish, even with high betting amounts, because once they are lucky by getting a big multiplier, it can make them get quite big wins without having to get free spins first. First, why do I say that because I have experienced it where I placed a bet with the smallest bet amount and got a large multiplier but the results obtained could still be said to be not much, but when I placed a bet with a high bet amount and immediately got lucky get big multipliers I can get big wins without having to get free spins first.

I agree with what you say, rich people are more willing to take risks without being afraid of losing the money they are betting on. In contrast to the poor, where they gamble is most likely to be able to win which can help with their financial problems and of course this makes them worried at every round of gambling, they are not ready to lose the money they bet. Apart from that, poor people will only feel annoyed when they experience defeat. What's more, gambling will only result in defeat in the end with the gambling they do because defeat dominates more than winning.

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Quote from: adultcrypto on November 24, 2023, 10:51:56 AM

I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.

Aside from luck, the rich have a greater staking power than the poor, the poor will want to win big with little staking power with a bigger odd which makes the gambling more risky but the rich will pick a small odd and stake a huge amount. In the end, luck also plays a better chance.

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Quote from: ethereumhunter on June 05, 2024, 03:27:33 AM

Quote from: Cityhunter34 on June 04, 2024, 08:01:20 AM

You are absolutely right because Rich people are always able and capable of providing for them self when they lose a huge amount in their gambling bet although while the poor people can not provide for them self when they lose a huge amount in their gambling bet, so that's while is not good for the poor people to use a huge amount in their gambling bet just bet as you can lose.

Rich people can have money even if they lose in gambling because they still have more money in their account but that will not be a good idea if that rich people use much money to playing gambling. They must consider that gambling is just fun activity and not a place to makes money. The rich win gambling more than the poor is because rich people can place a bet using big money while poor people can't do that. But if we talk about the lose that they can gets, both rich and poor people can gets the big lose although they have the same chance to win some money. Both rich and poor people must not use much money to playing gambling because gambling can takes all of their money shortly. If both rich and poor people can use gambling with right, they will not lose much money but they will enjoy their time to playing gambling.

the size of the money bet by rich people and poor people will be different. because everyone has different ability limits to bet on.
the chances of winning for everyone are the same. the difference is that maybe rich people with big bets can get big wins. and a poor man with a small bet will get a small win.
rich people can play longer with smaller bets. but it can also be shorter if the betting is very blind. actually, both are the same. but I don't know how often gamblers bet on middle-to-lower economic groups.

People with small finances can also enjoy gambling. so victory is not reserved for the rich only. anyone who bet has a chance to win.

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In my opinion, one of the reasons why rich people win a lot at gambling is because they have bigger capital so they can bet more and stay in the game longer. In addition, rich people usually also take bigger risks without fear of losing all their money. However, it needs to be understood that people who win more at gambling will definitely experience more losses beforehand because no one who plays gambling for the first time immediately wins a lot and has definitely experienced losses before.

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Quote from: Cityhunter34 on June 04, 2024, 08:01:20 AM

You are absolutely right because Rich people are always able and capable of providing for them self when they lose a huge amount in their gambling bet although while the poor people can not provide for them self when they lose a huge amount in their gambling bet, so that's while is not good for the poor people to use a huge amount in their gambling bet just bet as you can lose.

Rich people can have money even if they lose in gambling because they still have more money in their account but that will not be a good idea if that rich people use much money to playing gambling. They must consider that gambling is just fun activity and not a place to makes money. The rich win gambling more than the poor is because rich people can place a bet using big money while poor people can't do that. But if we talk about the lose that they can gets, both rich and poor people can gets the big lose although they have the same chance to win some money. Both rich and poor people must not use much money to playing gambling because gambling can takes all of their money shortly. If both rich and poor people can use gambling with right, they will not lose much money but they will enjoy their time to playing gambling.

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Quote from: Kelward on June 04, 2024, 06:31:48 AM

Quote from: adultcrypto on November 24, 2023, 10:51:56 AM

I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.

In my understanding the reason why the rich wins more in gambling than the poor is quite simple, because they bet more. What a poor person can bet in a whole year will be what a rich person will bet in a single game, so assuming that a rich person and poor person bets the same thing on a game, you can never compere the amounts of money that each of them can win. So because the rich have higher chances of winning more, that is probably why they will gamble more than the poor, also I believe loses will not affect them much because they have too much money to spare.

Don't forget that the rich also loses more money in gambling than the poor because one lose is greater than many loses of the poor, so the equation is balanced that way. The higher the amount of money that you gamble is the greater your chances is at winning a higher amount of money ,vice versa.

Not necessarily having too much money to spare, because of they have that much considering your view they would not have intention of gambling, and still eager to win like the poor. It a matter of different streams of income coming in which balances the losses incurred whereas the poor do not have such, so a loss can break them down this is just the difference.
As you have rightly said, you are correct with your explanation; A single win from a high stake convers the entire win of the poor fellow adding his losses too, lol.

In essence the Rich and Poor loss and also win but the difference is in the amount they stake also let not forget that the Rich can be poor while the Poor becomes more poorer if they fail they apply Risk Management and understand the need for limits.

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Quote from: ethereumhunter on June 04, 2024, 05:50:19 AM

Quote from: Cityhunter34 on June 03, 2024, 11:13:53 PM

Rich people always put a huge amount in a bet that's why you see that they always won more than the poor people, because they believe that even if the game didn't play it would not worry them because they have the money already, while the poor always afraid is because they didn't have a enough money to lose.

Not many rich people will put a huge amount in a bet but if they do that, they can wins much money than other people. We must realizes that they have much money than us so we don't have to follows what they do instead just use enough money to playing gambling. We can't place a big bet like them because if we do that, our chance to lose all of that money will be bigger although they have the same thing as us. But they still have their money, even if they lose their money while if we lose that money, we can't fills our daily needs. Rich people will not worry if they lose in gambling because they still have money to do other things or to fills their daily needs. If we wants to playing gambling, it's better we always limit our budget so we don't lose much money.

You are absolutely right because Rich people are always able and capable of providing for them self when they lose a huge amount in their gambling bet although while the poor people can not provide for them self when they lose a huge amount in their gambling bet, so that's while is not good for the poor people to use a huge amount in their gambling bet just bet as you can lose.

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Quote from: adultcrypto on November 24, 2023, 10:51:56 AM

I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.

In my understanding the reason why the rich wins more in gambling than the poor is quite simple, because they bet more. What a poor person can bet in a whole year will be what a rich person will bet in a single game, so assuming that a rich person and poor person bets the same thing on a game, you can never compere the amounts of money that each of them can win. So because the rich have higher chances of winning more, that is probably why they will gamble more than the poor, also I believe loses will not affect them much because they have too much money to spare.

Don't forget that the rich also loses more money in gambling than the poor because one lose is greater than many loses of the poor, so the equation is balanced that way. The higher the amount of money that you gamble is the greater your chances is at winning a higher amount of money ,vice versa.

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Quote from: Cityhunter34 on June 03, 2024, 11:13:53 PM

Rich people always put a huge amount in a bet that's why you see that they always won more than the poor people, because they believe that even if the game didn't play it would not worry them because they have the money already, while the poor always afraid is because they didn't have a enough money to lose.

Not many rich people will put a huge amount in a bet but if they do that, they can wins much money than other people. We must realizes that they have much money than us so we don't have to follows what they do instead just use enough money to playing gambling. We can't place a big bet like them because if we do that, our chance to lose all of that money will be bigger although they have the same thing as us. But they still have their money, even if they lose their money while if we lose that money, we can't fills our daily needs. Rich people will not worry if they lose in gambling because they still have money to do other things or to fills their daily needs. If we wants to playing gambling, it's better we always limit our budget so we don't lose much money.

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Quote from: bubilas on June 03, 2024, 11:22:40 PM

~snip~
Everything is right. I also want to add that rich people have the opportunity to hire high-tech specialists to avoid addictions, and poor people will have to deal with gambling addiction themselves.

Also, let's talk about the final goal: a big win. You've heard stories about the poor who won their money, and then divorced their wife, quarreled with relatives.
The poor are not good at using big money properly.

Yeah, but also rich people have more money to spend more on gambling, in flashier casinos and more times.

That could lead to a more difficult addiction to overcome. Someone poor might not be able to bet as many times for example, therefore their brain might be saved from the addiction.

It all depends on the individual in the end. Rich or poor, both can end up very addicted.

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Quote from: DYOR+BTC on June 03, 2024, 06:16:44 PM

The reason why the rich win gambling more than the poor can not be over enfercised. Sometimes greed is what makes the poor not to win gambling. You will see a man that want to win 15,000,000 with just one hundred naira. Though it is possible they could win such about with one hundred naira. The poor always have this mentality that if they they have a high odd and if eventually they won the win the gambling their life have changed, or their family and personal problems is solved at such resulting to high odds which last win not win.
But the rich other the other hand always source for a lesser odd and then stake higher. There is less risk involved when you stake high with lesser odds. They rich are not greedy when it comes to gambling. They do not always see gambling as a means of solving their personal and family problems unlike the poor. Sometimes they do this for fun. A rich man is already to stake with 1,000 naira to win 2,500 naira, but it is difficult for a poor man to stake with 1,000 naira to win 2,500. The mentality of the rich and the poor when it comes to gambling totally differs.

Everything is right. I also want to add that rich people have the opportunity to hire high-tech specialists to avoid addictions, and poor people will have to deal with gambling addiction themselves.

Also, let's talk about the final goal: a big win. You've heard stories about the poor who won their money, and then divorced their wife, quarreled with relatives.
The poor are not good at using big money properly.

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Quote from: AbuBhakar on November 24, 2023, 10:55:34 AM

Quote from: adultcrypto on November 24, 2023, 10:51:56 AM

I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.

Because of the difference on bankroll. Rich people have a huge bankroll that gives them freedom to increase bet or play more until they win huge amount while poor has only limited bankroll which they will stop immediately once they lose enough.

This is the reason why poor shouldn't play gambling because it was intended for source of entertainment not a way to escape poverty. Bankroll is very important on gambling to stay longer until you hit your streak to profit.

You are absolutely right because the Rich people always put a huge amount in a bet that's why you see that they always won more than the poor people, because they believe that even if the game didn't play it would not worry them because they have the money already, while the poor always afraid is because they didn't have a enough money to lose.

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The reason why the rich win gambling more than the poor can not be over enfercised. Sometimes greed is what makes the poor not to win gambling. You will see a man that want to win 15,000,000 with just one hundred naira. Though it is possible they could win such about with one hundred naira. The poor always have this mentality that if they they have a high odd and if eventually they won the win the gambling their life have changed, or their family and personal problems is solved at such resulting to high odds which last win not win.
But the rich other the other hand always source for a lesser odd and then stake higher. There is less risk involved when you stake high with lesser odds. They rich are not greedy when it comes to gambling. They do not always see gambling as a means of solving their personal and family problems unlike the poor. Sometimes they do this for fun. A rich man is already to stake with 1,000 naira to win 2,500 naira, but it is difficult for a poor man to stake with 1,000 naira to win 2,500. The mentality of the rich and the poor when it comes to gambling totally differs.

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Quote from: adultcrypto on November 24, 2023, 10:51:56 AM

I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.

why the rich win more than the poor it's because rich one's stake on higher amount then the poor man. Meanwhile the poor one's only gamble with the amount they can afford to get, so you don't have to blame he/she for not seeing any good profit or winning like the rich one's. The rich will always get more winning because they can use very good amount of money and also get in return a good amount, they can sacrifice their one of their investments payments just to place bet, but the poor doesn't have any for him/she to bet on so you can't compare their both with the winner. And in gambling the higher your amount the higher your money increases in return, and with that you can invest it with something good in life.

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Quote from: Odohu on June 02, 2024, 06:41:05 AM

Quote from: bubilas on June 02, 2024, 04:12:46 AM

By the way, the poor have an advantage: they always keep themselves under control, because if this does not happen, then the poor person simply does not sing the next day. And the rich don't control themselves that much.

I don't really agree with you that the poor have advantage in this case. There is something you seem to be missing and that is the fact that the money the poor gamble with which you might consider small is actually like the "widow's might", I mean something very huge for them. You night see someone gambling with $10 which ordinarily appear like small amount, but in reality, this might be like $100k for the person. Furthermore, the poor gamble with the mindset of ending their poverty through gambling, and this makes them make emotional decisions. Whereas the rich might just be gambling for fun because they have other means of meeting their needs, so their emotions are not that engaged in the gambling and their decisions are clear, without any external inducement. The poor truly perform badly in gambling than the rich.

While reading this comment I remember what happened yesterday; someone was discussing then he made mention of the whole amount he has lost so far on bet, then the other person asked him; is that all and he imminently replied yes oh brother. And the other person smiled and said you haven't lost anything yet compared to what he himself have lost. This made me to imagine how much have the guy lost since he said that. However, every money counts unless, only time the money wont count is if the money is lost. From my imagination, I don't think any money is a small money because there are people that don't have the list on their account or their hand, so it's better not to talk about the loss, rather we should talk about the ones we win. But it's not wise to chase a lose because you want to win.

Topic: Why the rich win gambling more than the poor. - page 3. (Read 3724 times)