Topic: Why the rich win gambling more than the poor. - page 35. (Read 3724 times)

IMHO, the only connection that the rich become more of a winner is because they've got more bankroll than the poor gamblers. That's the only thing that I can think of and that's why they can stay longer as they gamble and have more chance of winning. The poor gamblers, don't have that much bankroll they just need to lose a few times and they're out already.

I don't have any idea how you got this on your mind. But whether you are rich or poor when you gamble, you don't control the fate that you'll have and the results of your bets. So, if you're lucky and great this day, you are either of the two then you're likely to win most of your bets.

But if you are not lucky at all, the problem that you'll have is the losses that you'll acquire during your bets. There's no way to determine just because you are poor or rich, you're going to incur all of those losses no matter what happens.

I think a lot of it comes down to education.  I'll give you a couple examples in every day "real life".  I often see poor people, or those whom are less fortunate, to put it in a nicer way, feeding dollars in to scratch off tickets.  If they were more intelligent they wouldn't be playing first off, but second they don't understand that there's cheap investments that could go a lot further than scratch of tickets are likely to take you (for example put that money towards some cheap altcoin with a chance to pop).  Another example is I see people taking their change to machines such as CoinStar which gives back bills/notes.. but the think is you get charged for this (as where banks wont charge you to do this very same thing). A good portion of the time too these people will just leave their rejected change at the machine (which it'll reject very poor coins, "junk silver" coins etc.  These are typically the people who can't afford to waste or lose anything, whom are literally screwing themselves.

I feel the same way about poor people gambling.  Typically were never taught any better.

If you are rich and you have a gambling budget of $5k and you place a single bet of $100 and if you don't win, you always double your bet amount, then if you win 1, you will lose all your previous losses and make a lot of profit. And if you are poor and have a budget of only $100 then you will be afraid to place a single bet of more than $5. So you won't win much. Rich people are not afraid to take risks  But the poor are too afraid to take risks. And we know no risk no gain. Because of this, rich people seem to win more gambling than poor people

I don't even understand the question. Where did you hear about this claim? They both are winning with same rate because that's how betting probability works.
Rich people are winning bigger wins because they bet larger amounts. They are also losing larger amounts because of the same reason.
You hear about rich people winning more because it's more interesting when someone 10x a million then someone 10x:ing a dollar.

In short: you need to spend money to make money. Even though both would win in same ratio, smaller bets gets you smaller wins.

One of the things I understand here is that, the reach don't give a fuck if they lose or the win because they already have the money that they want, if incase they lose all the money they planned to gamble with, they still have businesses or investments that will give they more money.
Talking about the poor, you know that one thing about gamble is that, is that, the time a gambler is trying all possible means to win, that is the same time the gambler lose more than enough on the game. For me, I honestly thinks that the poor people like as you mean, just want to see them selfs winning in gamble and not otherwise and such things or mindsets always make them to lose more frequently than the reach guys.
Although, both the reach guys lose and win too as it is already known to us that winning while gambling depends on luck and not how frequently you stake or one is committed to gamble, that only makes one becomes more addicted to gamble.

It's just simply the difference between the two in their range from betting to gambling, if you are not that rich and just an average person, you can't even risk all in all of the funds you have cause if you lose for sure you would be in debt. While the rich have a lot of sufficient amount of money to raise their bets. Just imagine this the average person would bet like $100 and for the rich one would bet $1000, if they both win at the same time, do you think they would have the same amount of winning as well? Of course not, they might have both skills and experience in gambling but in terms of funds, the rich one would be on top. It's really easy for someone to make huge money if you also have huge funds to support your process.

The gambling is the easiest way to get rich in the short period of time,because it allow us to get the money multile of 12-20x in one bet itself.So you can able to over take all your loss in past game,the trader was not ready to take risk in the gambling.So only fifty percentage of the trader was get into the gambling from trading.Remaining fifty percent of the gambler was get into the deep trading and avoid of the gambling.The gambler who had unform performance in the gambling had a chance to make the good win in the gambling.Because they will find the real tactics of that game.But you need to understand the same tactics will not work all the time in the gambling sites.Because the gambling site will change to the reverse algorithm in the short period and may cause the loss.So gambler ready to quick change of their own tactics.

Just like when you drive a car and it results when you can fill up and not fill up the fuel for the journey in that car.
Material discrimination is unnecessary, but I also admit that poor people have little opportunity to earn money if they do not exchange it with effort. So some people look for opportunities in gambling, the problem is that if you can manage your finances then you can absolutely do what you want.
I think it's a balance of happiness where the comfort from people who can willingly spend on games with the intention of not making money, they will no longer have the pressure of losing and receiving money.

Does gambling for fun make people win more? I understand from the aspect of desperation that poor decision can come from there. That was why I said desperation can even lead to mistake and poor decision.

The only aspect that is not clear to me is this fun because I don't see anything fun in gambling which is basically using money to target more money.

I am not a rich person, but in my opinion, rich people who tend to gamble do so without hesitation and without fear of losing money so that they gamble arbitrarily just to look for thrills, not to get the victory that is the main goal. that way they don't think about winning but looking for fun and entertainment in gambling, especially in physical casinos, many rich people gamble just to look for fun because they think the fun they can feel is only in the casino.
Unlike the poor or not enough money, maybe they gamble carefully and the main goal is to get a big win even with a small capital. This is a problem for them in the future, because it will bring big problems that will affect their lives, by gambling carefully because although the desire for victory they feel is certainly not ready for the risk of losing the money they play. So the poor are more careful when gambling to play carefully even if in the end they lose.

As far as I know, that kind of mindset is easy for you to think about, those who have a lot of money and those who have little money who are risking in gambling.
* Comparison: The rich place a $10k bet and the poor place a $10 bet.

These two things clearly produce different values, let's say they both win in the same type of bet, $10k at what times and $10 at what times, rich can bring a suitcase to take the winnings and poor can only carry a pocket.

My understanding is that poor people are smarter than rich people in gambling, the problem here is the different value of money when they win, that's where those who gamble stand out and are seen.

They are not obsessed with winning big because they are already rich and have a lot of money so they really enjoy playing games for fun that is what is in their mindset, why I always say that gambling should only be used as entertainment, it teaches us to be more relaxed playing gambling is the same as rich people, so enjoy the games we play.

Winning is an important bonus, gamble with money that we are prepared to lose, don't think that we can win against the dealer, play and focus on looking for fun, if you win, withdraw the money and then enjoy it, but if you lose, never chase and recover the loss because it will be fatal In the end, there's still time tomorrow to try the game again. The point is, don't be surprised why rich people always win because their healthy mindset makes them play better than people from the lower middle class.  

most rich people that involve themselves in gambling make calculated gamble and will mostly stake games that they are almost sure of it outcome. Let's take soccer gambling for example, most rich folks would prefer to use a huge amount of money I stake on a few games that have high chances of playing while the poo or average ones will play a very long slip with a small amount of money and at the end of the you found out that most of the long sleep end up not playing and the invested money goes off without profit while the rich can just double chance his game and will almost get a win win situation at the end of the play.

In my own opinion I would say that gambling is more of a strategic thing and every good gambler should first have a strategy before venturing into gambling or staking his money. Now the rich gambler engages a strategy that makes him stake a huge amount of money over little odds whereas the poor gambler goes for bigger odds with little stake so the tendency of winning is more likely to go the way of the rich.

That is what I want to say that the difference in bankroll can also judge, because with a large bankroll the freedom in gambling will increase their profits are also large if they win the jackpot and the rich do not despair if they lose because they have a lot of money reserves so it will not be pressure or stress for the rich.

Poor people with minimal bankroll always hope to win with little capital, and the only victory in gambling is always the hope for their lives, so this is the wrong way when the bankroll is small especially not for the pleasure of gambling then until whenever they will still lose even if lucky but it will not be as big as the capital spent.

The rich win more because they bet with more money. Which means a single bet can give them a fortune. But the poor will manage small bets with little amount that even when he win, the amount will be insignificant. The poor manage to win big once in a while if luck smiles at them.

Another reason is that the rich are consistent gamblers because they can afford to invest in gambling. And we are aware that the more one gambles the higher the chances of winning. This is not the case for people who are struggling to survive. The poor will prefer to meet basic needs with little funds at their disposal than to risk it on bets in which the outcome is unpredictable.

A rich gambler will also be a more rational and organised bettor than a poor gamer because he is not under any financial pressure or anxiety. A poor gambler will always gamble with fear and anxiety because he is scared of losing the little he has. But a wealthy gambler will always relax and enjoy his game because he knows that he can afford to lose the bet.

The rich are at ease with their gambling activities and they have enough money to use which gives them more advantage of winning, because the more you play the better chance that you have to win. The rich has investments that gives them money and they use gambling for fun which will make them be able to control their emotions, while they are gambling. Unlike most poor people that gambles to make profit and they allow their emotion to control their gambling activities. They rich have enough money to sacrifice on gambling but the poor has little.

I can say in sports game it's like that, because they stake huge amount on a single game. While those struggling financially have to book about 10 games and stake little amount of money. The possibility of winning for the player who predicted one game, is quite higher than the other who staked on 10 different games. But, in slot game the rich player needs to understand money management to succeed. As his huge money doesn't mean he'll win big or make profits in slot. The difference is that he'll have more fun, due to his wealth. In terms of being desperate, it has do with personal behavior. Both the rich and poor can be desperate of making more money. Although, the poor person can be very curious to win, for he desperately need money to settle bills. In his case, he'll definitely make mistakes, as he doesn't have a clear mind. Generally, good gamblers can be rich or poor. You sound like every rich person, must win when they gamble. If he's not smart via gambling ethics, he won't win just like a low income person who is not an experienced gambler. So, gambling knows no rich or poor person. What matters is taking the right step, when gambling. Aren't you surprised to hear some addicts who waste huge amount of money on gambling. They were rich, now struggle to clear debts, due to gambling.

The rich people source of income are not gambling, they are only having fun with gambling, but the poor are not having fun with gambling but to to win is what they want. Which means the rich people are not desperate when it comes to gambling unlike the poor that want to hit a jackpot.

rich can bet huge amounts to win big unlike the less fortunate gamblers can just risk a few dollars. the rich think $500 is just a small amount just as the poor think $5 is a small amount. both of them may have the same outlook like enjoying the game just like what we always read treating gambling as entertainment but the rich entertain themselves more because of the big bankroll they have.