Topic: Why the rich win gambling more than the poor. - page 30. (Read 3724 times)

Most games would have a maximum bet, so even the richest person cannot go past that.

Also, it only takes one bad game and the entire money is out.

The games in casinos have the odds favorable to them, so in the end casinos will always win, no matter how big or small the bets are.

that's the advantage of high rollers. they don't worry about the money that they are throwing for their bets. so they can easily place a higher amount of bet if they really have that notion of winning. and this route is so difficult to follow by just ordinary bettors. one or two bets, they can easily get rekt. in short, these rich gamblers can continue betting if they want to. small time bettors should not imitate these high rollers because they are subjecting themselves to financial trouble.

Those who have large amount of money will bet again and again until they win huge sum of money at once whereas poor people have little amount of money so when they bet for one or two times then they loss all the amount and now there is no chance with them to use their money into gambling in order to win next bet. Wealthy people do not take loan for the purpose of gambling so when they win their bet then they can use all that amount for further use in gambling but poor people always prefer to take loan and when they win then they have to return that amount to owner therefore poor people have the ability to use more money to win more while chances with poor man are lower as they don't have enough amount of money.

Definitely, Fix game exist since high profile rich person have some connections to the person that owns a team or manage a fighter of their own. We are just not seeing it as a normal person because this is highly confidential but fix game is really true. Sports is still a business though while sports betting market is already bloom with tons of money.

His is the reason why rich always have an advantage on gambling even on business because they have connections to source of cash flow from different peers.

Well, seems to me the answer here's pretty darn obvious.  The so-called "high rollers" almost always come out on top more thanks to their wallets bein' so much fatter.  I mean when you got all those extra zeros in your bank account, you can toss down some preeetty sizable bets without breakin' much of a sweat and  lets you take more risks too knowin you got that cushy cash pillow to fall back on if luck turns sour. 

And frankly, if money's already so tight just makin' ends meet prob'ly aint the brightest idea to be throwin' what little extra you got at games stacked in the houses' favor.  It's about making your money work for you, not the house.

Along with the very obvious fact that the rich has more money to comfortably bet high amounts on games and consistently too.
Are fixed games still a thing? If so, the possibility of getting prior knowledge of such games is much greater for the rich than the poor. The rich ones would get tipped off and would easily bet with a considerable high amount of money and win. While the poor having no knowledge the game was fixed would either lose his bet or having played with a very small amount, win little back.

Aren't your words too harsh?
Maybe they don't have enough courage to take risks so they play carefully, for fear that the money they have in gambling will be lost, although in the end it is likely to be lost too. Although a rich person always loses in his gambling maybe they are not afraid of the defeat that will occur, therefore they are more willing to take risks even if it is big. Rich people gamble without fear and without hesitation so they play just for fun even if they win it will also make them happy but maybe the main goal is not that but looking for pleasure and sensation from gambling. So I think it's natural that rich people always win because they don't doubt what they are going to do even though they have lost a lot it doesn't matter to them.

And for poor people who gamble they gamble maybe because they want a big win, so they play carefully at every step they take, but because of this doubt that makes them lose and get emotional. Also they are wrong, if they do not have enough money to gamble, they should not gamble, because it can lead to resentment which leads to bad effects on themselves. There is nothing wrong with poor people gambling because they want to try their luck, but they are not prepared for the risks that will occur so they can be upset with the risks that have occurred.

They spend more because they can afford it but you never observed that they also lose more money than poor people.
Therefore, I could say that there is no pattern for that scenario because you have seen is only the winning side but never know the real thing that is happening to these rich gamblers. Of course, we can feel that they are in regret and never see in their reactions because that was just okay for them but those who are aiming to win, definitely can feel their sadness and regrets after losing their hard-earned money.

They have enough money for taking risks, if you have so much to spare you will get lucky more often than those that have so less to spare, I learned this when I start investing into crypto projects, but the best advice is to avoid looking up to the rich, your ways are not their own ways, do not copy them.

Also if you are rich and you lack gambling experience you will still lose a lot of money and when the rich loses money you as a poor person will feel thankful, because the money is always a lot, I am satisfied with the small amount I am risking on gamble and I can't compare myself to those that have enough money to risk anyhow they want.

Let's say something good happens to me and I get richer than I have ever been, I don't think I will be a full time gambler still, when you are rich you have to be more cautious, or else you will crumble and go back to been poor, you need to avoid some stupid risks and still maintain a responsible statue or gambling will ruin you.

Is this pattern a matter of perception or a statistical reality? Financial comfort does not inherently translate to better gambling decisions. The rich may appear to win more simply because they can afford to play more - and lose more. Its a volume game, not necessarily a skill game. Their financial buffer allows them to absorb losses without significant impact, unlike their less affluent counterparts.

However, your point about financial management is interesting. The rich, through their experience in managing finances, might indeed approach gambling with a more strategic mindset. They're likely to set limits, understand odds better, and avoid the emotional pitfalls that often ensnare the desperate. This strategic approach could skew the perceived winning in their favor, but its not a definitive rule. Remember, gambling, at its core, remains a game of chance.

With reference to soccer bet there are some sure bet of not more than 2.0 odds a rich man can bet with $200 to earn $400 or more compare to a poor gambler that bet with as little as $2 the difference is clear in term of returns imagine in the case of consistent streak of wins this would definitely put the rich ahead of the poor thus the rich would continue to get richer, moreso the rich has the financial means to subscribe to credible and trusted paid signal service providers where sure soccer matches predictions is sent out, some of those paid signal service are very expensive subscription such that the poor might not be able to afford their services while the rich easy access to the service would prompt consistent winnings in their gambling.

I think there are two points that make op think the rich win more than the poor and one of the point is that the rich has the fund or capacity to retry when he loses and the second point is that the rich take higher risk in their stake and when they win, it appears big unlike the poor winning.

Over all the numbers of winners on the average will not have a record of the rich being above the poor but the poor will be above the rich because there are more "poor" gamblers more than rich players and therefore it is logical and natural that the number of poor winners should be above rich winners contrary to op's assumption.

Poor individuals: they frequently lose because they have limited gambling funds, making their chances of bouncing back slim. They also constantly worry about their needs, making their emotions challenging to control.

Gambling is indeed a universal activity, open to people from all walks of life. However, it's truly inappropriate for those still struggling to meet their basic needs. Relying on gambling as a means to make money is foolish. It's better for less fortunate individuals to enhance their skills and creativity to earn more money rather than relying on luck in gambling.

For some, gambling may seem like a quick way to earn money, but it's a big mistake to interpret gambling in such a way.

It is absolutely not as side.
Rich peoples winning are more noticed simply because they bets with a higher rate is stake and could win a higher rate of bet too so basically people are optimistic to discuss about higher amount won in gambling than a lesser amount.
If I may ask @ OP, how many of gamblers who wins very less you ever see in a billboard or amongst historical gambling winners?
That is just to say huge winning is more appropriated and recognized then a penny (little amount).

I can even tell that poor people a likely to develop more skills in gambling that the riches because the poor are likely to adopt the system as a reliable source of income and the more they sits on the gambling boards is the more experiences is gained to enhance their skills.

Rich people most times doesn't count lost in gambling because they have enough and they firmly sees gambling in most sceneros as a fun and not "a must get rich" so if they wins, the excitements are publicly noticable.

It's  because rich people has a huge bankroll wherein they can placed huge bet whenever they want. Huge bet = Huge winning amount.
Rich people has a budgeted money for their gambling activities since they are doing it for entertainment purposes only, while poor gambler only using their personal money for gambling because they are hoping to double the value even if they are not sure if winning luck is in their side or not. sometimes, they are using the only money left in their pockets which is not appropriate action when it comes to gambling because it can lead you being in debt once you lose all your money.

Yes I think it's because they're less desperate to win because desperation can make you to make the wrong choices. If all you're thinking about is winning you'll likely not win but for those just gambling for entertainment or having less focus on winning but enjoying the game, they'll have a better results. When you're desperate you put yourself under pressure and many individual are yet to understand that their body doesn't function well when they're under pressure.

The rich also have good money management as they're not depending on winning for them to have money but the poor man has all his hope on the bets which makes him to be extra careful with his decision and been over serious won't help you when gambling as gambling is a game of luck and not hardwork. You might win more in gambling when you just go with the flow of the games and not over working you mind thinking of all possible outcome before you gamble.

In terms of probability there would be no difference if it's a rich or poor. Math works same for everyone. Not every rich and poor person are the same.
But if that's observed case and we need to generalize the two slabs, the culprit could be bankroll or lack of it. Rich people have much freedom to bet an increasing amount multiple of times and change their strategies if one is not working while a poor one have limited options.
Another reason could be how the person manages and executes their finance and gambling. Rich people are good with financial management and budgeting while poor people might be more likely to rage bet when they keep on losing.

Gambling is not a game of the rich vs the poor and to see who performs best, things are not like this, we are gambling because it is generally acceptable and allowed by each individual to play bet as we want, they don't even make segregation through the poor and the richer gamblers, we are the to gamble the way we feels safe for us, I've on several occasions seen poor people winning the jackpot while gambling and i rarely see the occasion of a rich man winning that big, so it's all about opportunities, skills and luck which everyone is entitled to.

As you have said. The poor do not have enough to meet all their needs. The poor will be desperate to hastily win huge amounts of money in gambling using the remaining money they have. Even before they start gambling, they are already full of negative emotion that leads them to lose money due to their eagerness to win using the only money they have left.

When the rich play in a gambling house, they have a certain amount of money that is not reserved or to be used to meet all their needs. Compared to poor people, rich people can freely use their money without any worries, and it makes them gamble a little longer than an average person. By gaining experience at building their own strategies, then can win more in gambling.

That's right.

Those that have more money like the rich can be said to have unlimited funds can stay better than of those with the limited and tight budget for their bankrolls.

But with strategies and common techniques that they do, it's definitely going to give you the idea as to how they're able to maintain their status longer than the others.