Topic: Why the rich win gambling more than the poor. - page 34. (Read 3724 times)

The later best describes the best answer for your question, if you are not dependent on you expected win to be able to carry out a purchase, project or even get a meal, as the case may be, you definitely wouldn't make the best gambling decision like someone who' isn't dependent on this.

Most times the so called poor may have good gambling decisions and strategy, but because they are reliant and so dependent on the win to be able to afford what they want, they will end up adding more picks because they have very minimal staking strength so I'm other to win something reasonable they would have to accumulate too many odds which later turn out in their loss and make bit look like they had poor gambling decision.

The logic is very simple: they have more money, meaning they also have more left to spend, and they can take a higher risk than the average guy and wager a higher amount than the average guy. When they lose one, they call it nothing as the money is just like a peanut to them, and they can continue betting, which won't affect their financial life, and when they win in such situations, the winning is always loud.
 
One thing that you have to know is that winning games are always celebrated, and people hear about those big wins more than the amount they have been losing secretly. So the amount they win is something based on the higher amount of the wager that accumulates that much potential for them.

When they, the rich gambler, win with such an amount, a $50 roller isn't supposed to think biased of the results. As the money wagered isn't a little one, and the rich player's tendency of losing higher amount of money is still feasible. From your example, if he continue losing, the lower gambler can still see more win that day, but his single win is enough to cover for all the losses. Yet the disadvantage, still, depends on the action of the big player when that money comes in. Because it doesn't make any significant different wealth wise, he'll continue playing games, and probably would accumulate more losses. Or big wins. Not minding, whether they feel the effects of the losses or wins, the rich gambler still requires some discipline to keep up with winning in gambling. At that stage gambling becomes riskier. The greed of winning bigger amount after staking 10k, revolves around the player. Like anyone else, who has lost more money in gambling. Especially, gamblers who still care about the money gambling offers. In summary, we get what we give. Not all rich gambler would release huge amount on gambling. Still, it's common to say that the bigger the money, the higher the chances of winning more money. Based on luck. The win of the poor player, can't be compared to that of a high roller, who wins reach.

Yes because of the high bankroll available to the rich,  they are able to to stake higher amount on one game that less their risk of loss at some point and that place them at higher chance of winning the a bet, but those who don't have enough money to go through with such bets amount that can increase the overall reward and at that they tend to accumulate higher odds by selecting multiple games selections and by doing so you also increase the chances to lose at the same time.

Most time we tend to have misconceptions while discussing what is attainable with or without money,  I won't want to use the term poor or rich,  because I don't really believe in that when it comes to gambling but would rather have a clear analysis of what the games contains and how it can be accessed based on the available bankroll and how to manage through the risk.

The reason is that the rich people use huge amounts of money to stake like 10 to 5 odd games to win big amount and the poor people don't have enough money to stake high they use small fund to win big and that will be every hard for them to win games when ever they play, and sometimes you will see they sale games for them in vip they will say you will win game when you buy there games and only the rich people have the money to buy the game and they will be winning g Poor people lose a lot of money in gambling because they play at higher odds, which is difficult for them, It is preferable to combine all of the money you use to stake every weekend and select tiny odd like 2 or 5odd and stake on them. I believe that one will be better and you will win since it is better than betting 30 or 50 odd to win millions.

This is the first time am hearing this but from my point of view, a wealthy man will bet with a huge amount of money and he still doesn't care about the loss cause he has money and even if he doesn't gain any profit from the bet you will not know cause he's wealthy. But a poor man who doesn't have any source of income will bet and no profit everyone will know cause he doesn't have money.
The problem most people fail to know is don't bet what you can't afford to loose, let's assume a poor man bet his money and he didn't see any profit, he will still remain poor, from where am coming from most people depend on gambling to survive and they remain poor but a rich man has other means of income.

We may have seen, for example, people enter the gambling game table with quite a lot of chips, then the poor person is already around the table, in playing gambling there is nothing that differentiates the rich or the poor when playing. Their goals may be different, they may be the same, how to bring home many times the money in gambling. Maybe when the rich enter the game they are only looking for refreshing fun and other things, in contrast to the poor who are definitely looking for victory in every round.

Those who are rich by carrying money or poker chips that have been exchanged have no guarantee of winning more than poor people. In this game it is difficult to predict every round. Indeed, when it comes to bluffing with quite large chips, it will make the poor afraid of losing their chips, but this depends on the condition of the cards held by the player himself.

I would not say the rich win more when it comes to being more lucky or having more won than lost bets, but they win more because they bet more.

I think that OP and some of the posters are biased. You see someone brag about a large win and think that person must be way ahead now, but you don't consider the fact that while you bet $10 each time, somebody can be betting 10k and then you see that person winning $100k and think - he's rolling in it for sure. But in reality he probably lost at least 50k before winning 100k and you at the same time lost $50. The math is the same for a fish and for a whale, it's the risk that changes. He can take high risk and gets high reward. It's really visible in poker where you can get scared by someone betting high, but for that person it could be nothing.

Gambling is simply a game of chance. If you can afford to keep losing for a long time, maybe you'll get lucky at some point too. It's up to question if you'll recoup losses to enter into profit too, and the answer is probably not, but it's more likely to happen if you don't go bust in the meantime.

Of course, don't take this as advice. Gambler's fallacy is still a thing. Each game is still an independent event, and you could still have unlucky streaks no matter what. But given that the bigger wallets can afford to wager more, of course it's going to be one of them that end up getting a bigger share at the rewards. But you also don't get to see the losses. People generally don't share these. So if one person win, it's likely that behind him, many losers also exist.

Rich gamblers have definitely huge bankroll when it comes to betting, which means they have bigger opportunities to spread their risks by diversifying their bets. With that, they were able to gain more opportunities to win, rather than losing all at once. However, when it comes to financial management, I don't think they are highly capable than poor, only those financial analysts understand better financial management.

Apparently, gambling does not make the rich gamblers richer because its always the house that should often win, and not those gamblers who continue to take the risk. One thing is certain, whether you are a rich or poor gambler, gambling will only lead these people into becoming poor as they're not supposed to win all the time in gambling, unless if they have this endless luck that save them from losing.

Totally agree on this point you had made.

Rich people might be looking that they are winning big and those are just visual illusions on making someone believe that they are on positive
and since they could make out bigger bets and longer sessions then it is really indeed true that hitting up some winning round is more evident compared into those who do have
smaller bankrolls so everytime we do make out some comparison then it is really that too obvious.

Just like the rest been saying or on most people on this thread that it would really that mostly matter with luck whether you are poor or rich because there are
poor ones who do become rich on hitting up some nasty wins on those few rolls that they had done.So there are really no evidences about into this matter because
people would really be that assuming basing up into the things that they do observed but actually it doesnt really have sense on this regard since each
person does have their own lucky moment on the time that they do gamble.

The Rich use big money to gamble and it hard for them not to gamble in a day because, they have the money to make their gambling continue until they win something big that will help them to recover all their losses in the past. Poor people don't use big money to gamble and, if they want to win from their gambling , it will be little money compare what Rich people will win from their gambling but they bet with big money that will encourage them to bet more in the future.

Not that the poor don't want to gamble on the time just that they don't have the money to continue gambling like the way some rich men use to gamble with big money through out the day and still continue gambling the next day because they are capable for it.

Deep wallets. That's one of the main reasons behind the rich winning more than those with less budgets.
If you have deep pockets you can have a chance to wait for the RTP to hit. That way the system will just keep on giving back whatever you have lost and then you can take your profits from the rakeback and the monthly and weekly bonuses.
There are times when a multi-win will hit at the long shot which means the capital you will need should be higher than the amount you will bet so that you can try for many rounds and have the chance to win a jackpot.
Lesser budget gamblers don't have that kind of money. They will just try it at one or two bets and see if their luck is there. IMO, gambling sites don't work like that. They want us to keep on betting more than doing it with one try. Just take Plinko for example, x0.2 percentage is way high so even with 10 bets you might not get the other multis that is bigger than that.

I actually think that gambling depends entirely on luck and being poor or rich doesn't matter to win here. So I have a doubt here where the saying that the rich win more than the poor in gambling comes from. It is true that the tendency to gamble is more among the luxurious rich even if it is just for pleasure. In this case they can gamble more due to their higher budget whereas the poor have a limitation in terms of budget.  If the fact is to be caught then I think this should be caught.

Just seems like it but everyone loses. It just happened that individuals with bigger bankrolls has more chances to get a win than regular gamblers who tend to lose everything and end up without winning anything. But still your weakth does not guarantee success in gambling. Some rich individuals ended up being broke because of greed. And this simply means that everyone has a tendency to either lose or win, it is just that if you have more money you will be having more chances to win and gambling happened to be a game of luck and chances. Some became successful with smaller capital but most of the time, what happens?

We could only say that they are winning more just because they could be able to bet more on which on the time that they do make some hits or wins then it is really that big looking because of those
$$$ but if we do speak into those casual or average gamblers who do make use of small amounts then the extent on how they do bet is limited which is really just that only on few rolls
on which means that if they do lose up the entire balance then its over.Whereas into those people who are rich and having big balance then it might look like that they are winning
but actually those wins cant really be able to patch up on the losses that they had made. It might look that they are positive but actually they are on negative not unless if they are really
that lucky on hitting those big wins then its possible but doesnt mean that it cant happen on small gamblers also, it all matters with luck in the end of the day.

The thing is that both the rich and the poor have equal chances of winning and losing at the same level but what makes the difference between them both is the availability of funds to take more risk than the other person and in this case,  the rich have more funds at their disposal to take more risk and also increase the chances to win.

So that is what makes the difference and increases the rich chances to win much more than the poor and at most, that is what makes the tin difference.

Most rich people who gamble do not play slots, they play table games which are more of games of skills. And as you may have know when the rich gamble they do it for socialization and for business purposes.


I think that when the rich gamble particularly those who are business people and entrepreneurs . Maybe the funds they use for gamble has been budgeted from the company funds. And of course the ROI on this is huge. Because when they win, they close the deal with the client.

I don't think it depends whether or not, you are rich or poor. Gambling is a game of luck. How can a rich man win more but the poor man win less? Does that makes any sense to you.

The only logical explanation could be that the rich have higher bankroll. They can bet more and more, multiple time to test out their luck. Even if he looses 100 bets, one single win can be enough for him to make up the looses. So in of the day his winnings are more.

But if you look at the poor, their gambling activity are limited due to shortage of money. So they aren't able to bet as much as they want. In the end they have loses more than winnings.

That's the only explanation I can come out with.

I think that both cases are having the same end, which is to have losses. while the rich keep putting a lot of money into playing and thus have more time playing, something like years playing and the poor, due to financial limitations, play for a short period of time, yet both cases end with losses, the rich when they play for a lot of time, they are losing and even when they are lucky enough to win a lot still when they do calculations of the money they lost vs the money they won in that round then they realize that it was not a gain that would allow them to recover all their losses since the day they he started to play. You can test what I'm telling you, just ask some rich guy who is playing if he is making a profit or a loss

here on this forum there is a guy who keeps posting photos of big bets he has made, days ago he placed thousands of dollars on 3 bets and got it right, totaling more than half a million dollars won, but if you look at his post history it's true that he has already had many losses in the past, which means that even with these 3 big victories he is still suffering big losses. Think about the following: if casinos were places for rich people to make money, then the casinos would already be bankrupt and the rich would be richer and certainly many rich people would be gambling a lot. games are proven games

It doesn't matter if the person is rich or poor, if they are playing in a game that depends on luck, then both social classes will have the same chances of winning and losing and at the end of the day they will be at a loss, if the rich and poor are doing sports betting, so whoever has the greatest skills will be successful, because in sports betting it doesn't depend on luck, it depends on skills. Although it is also not a guaranteed success path, it is not a guaranteed profit path.