Topic: Why the rich win gambling more than the poor. - page 6. (Read 3724 times)

There is a lot of difference between a rich person and a poor person when it comes to finances. It is very difficult for a poor person to earn money then it is more difficult for him if he gambles and if he has to continue gambling regularly. On the other hand, a rich person who has sufficient financial solvency will definitely take more risk in gambling than a poor person because if he loses the gambling game, he will not have any difficulty in managing the gambling money later. However, gambling is not only about having a large amount of money, besides having money, the gambler needs to have proper knowledge about gambling. When a gambler gambles responsibly, he will be more likely to win by applying his skills than by losing money on his gambling. So a gambler must gamble by applying skill.

Even the stigmatization of the poor is now in gambling, am not bais but I remain on the truth which is everyone have a levelled ground when it comes to gambling. Before I will agree with you OP, you will show me the report or statistics that backs your point, you can use your sense of judgement to bring to conclusion even in your observation. The rich loss too, both rich and poor loss and win, if the rich are separate then they shouldn't do what the poor do which is gambling, moreover true rich men don't Gamble.

Pathetic topic, have we not seen a poor man that won a jackpot and his life change why wasn't it fhw rich man,lol. I haven't observe that like you, OP.

No bother is excepted from the risk that gambling comes with, but if you do your analysis very well you know that the rich are smart and you hardly see rich people who rely on gambling they gamble occasionally compared to poor people who gamble every day and they only start from small money then they will follow it up with big money. and the problem is sometimes you can not control people greed so it is based on the individual but the rich is better than than the poor, poor or average person will always look at the potential win and not consider risk all they want is win and the majority of them will not even use the money for something reasonable and the rich prefer casinos that is were you see rich people with there gang wasting coins and money but they have nothing to lose since they have other investment and as they are gambling they are having business discussions with there gang so see the difference.


No argument that they can not lose their money but the chances of losing money are the poor are more of the victims than the rich the rich don't gamble every day they are always busy attending other business meetings and more compared to a poor person looking for ways to make more money. and we are getting on the same page that gambling is played by the rich for fun i can accept. and we know how wealthy people are with money management and if you look at it if they eventually gamble they have a reason it might be that they have a meeting with a friend who loves gambling so that can make they gamble just to make more deeps and that is why you see a lot of them in tennis clubs and casinos.

Yes you are right that mate  and based on what we saw rich gamblers can do what they want to do especially in terms of betting. If they know that they are too lucky then they cab increase their bet and also their winning amount is increasing too and that's the reason why rich gamblers can win a large amount of money. While poor gambler their money is limited so if they gonna double their bet then there's a chance that they will loss a lot as they can not sustain the their bankroll.

High stakes will be more satisfied with high winnings and this can be done by rich people where they have a lot of spare money in their accounts. So the rich will continue to increase their bets as they see their potential winnings at their disposal.

While poor people with low stakes winnings will not be big if they win the maximum it is only a little or you can say nuts by the rich, but in gambling the higher the bet the more often you lose and it is not much different from small bets.

So I prefer to see rich people betting, they don't seem to have the burden of spending money.

No doubt for that because every people, rich or poor gamblers can lose all of their money if they risks much money to playing gambling. But if they can realizes that playing gambling is just for fun, they will not risks much money and always use limitation to playing gambling. They know that risking too much money can makes them lose all of their money and that's why they must use self control. Maybe rich people can wins much money than the poor but they can't always wins or too often wins in gambling games. That's why we don't use too much money to playing gambling because that can attracts us to use more and more money without knowing when to stops gambling.

Well, judging by the OP, why do the rich win more? The rich don't really have any special luck to win more compared to the poor gamblers, but the slime difference in that case is that rich gamblers always have the money to gamble continuously, and they can also stake a huge amount, which if they win, is going to give them a huge profit. But for most of the poor gamblers, they don't gamble all the time because of how small their pocket size is, and even when they are gambling, they play with a smaller amount than that of the rich. 

You have already specified that the rich people can stake a huge amount more than the poor gamblers, but their losses are usually huge too, so the poor gambler will only lose the small amount they have staked. 

Rich gamblers can also lose all their money as well as poor gamblers since they put a lot more on the line than poor gamblers. If a poor gambler can afford to put on the line $1, a rich gambler can put on the line $1000, or even more. In my opinion, it is wrong to compare which of them is more risky, because each of them has its own risk management depending on the financial situation. Besides, experience and luck have nothing to do with financial status. There are irresponsible gamblers among both poor and rich people.

If it is very true that the peons who are Poor when they take risks and play go all or Nothing , it is very true that the majority Always lose and some are so bad that they have to resort to non-advisable strategies such as Lending money, asking for credits to who can pay for their basic needs, then in this order of ideas we are People who have to Adapt to this type of things , that is why the poor sometimes have that audacity to do things, and those who Unfortunately Lose Everything and Continue Playing run the risk. Increased risk of quickly falling into addiction.

People who lack proper knowledge of gambling are the ones that is supposed to make such mistake of spending all their money in gambling before they can realize their self but it's bad to see experienced gamblers making such mistake.
Poor people gambling with the little amount they can afford to lose and sometimes they end doing this similar mistake of staking all the money they had which will take a lot of time before they can get it back but the rich people usually have more source of income and they can usually gamble often because they have more money and even if they lose the one they had they can quickly get it back on like the poor.

I think it's because of the way they gamble, the richer have less to worry about and they gamble based on what they know, they pick few games and stake high on it, that's how they gamble, less risk and high stake, but the poor can't afford that strategy or wait for so long trying to multiple their money si instead they would put all their problems in one long slip that has a 1000 odds and woudl most likely not play out and stake small and at times to even out their chance of winning they would have multiple tickets and stake so much little amounts on all of them.

I can recall a man on my street that usually is seen with so many bets slips and all of them are so long, he woudl pick up draws in one slip and wins in another slip and over 2.5 in another, and that's how he woudl give each selection one slip  till he has so many slips on his hands and worse of all I've never heard of him winning before.

Very correct bud, when it comes to gambling wins, most people pay much more attention to big amounts in winnings, than they do for small amounts in wins, and this is why most gamblers also do not flaunt their small wins, but are very aggressive in sharing their big winnings online for all to see and congratulate them.

This same thing is possibly what is happening with the rich and the poor in gambling, take for instance, the poor man and the rich man can both play exactly the same game with the same odds, lets just use sports betting for example, that is, both the poor gambler and the rich gambler are going to bet on the same match, with exactly the same odd, which means, they both have the chances of winning the same amount of money if only both of them can bet the same amount as well, but then, the rich man put $5000 in the game to win $150,000, while the poor gambler can't afford that much, but he only put $5 (because this is the much he can afford) in the game to win $150.

In the end when this game wins, and they both share the winning online, you will discover that the rich man's winning will be much more celebrated than the poor man winnings, because to people out there, amount of money put into the bet usually doest not matter, what matters is the amount of money that is won.

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.

actually what I do observed is that we are just paying attention to those rich gamblers
because they are winning big amount but not giving attention to how much they are
 losing first before the win.
while the poor people is just betting small and not  getting attention because of the smaller amount.

Time in society is measured in money and when we have money, time is also in the list of goods of the rich, as many people have seen, the level of reserves and luggage of the rich is too huge, they can resist the gravitational pull of the gambling black hole, but in general, it's only a small resistance, if they don't escape in time, the gravitational pull will be stronger and similar to the poor, engulfed by gambling into dark corners. Winning is more present but does not show the essence that the rich have completely controlled the gambling black hole, this black hole is only gradually expanding.

I agree in what you have said @Dr.Bitcoin_Strange, those people that think that only poor men gamble for profit are wrong, it is not written anywhere and has not been proven by anybody that chasing of profit in gambling is mostly practiced by poor people. It depends absolutely on the gambler and their mindset, some poor gamblers can only risk small amount from their earning and they do so just to catch fun and get lucky the same time but they are not persistent even when they lose that small money. Other rich gamblers also emulate that behavior.

I totally agree with you with reasons that most individuals am aware of their gambling addiction are not rich or very wealthy individuals, even most of my rich acquaintance who are becoming addicted to gambling are all complaining that they lose more than they earn from gambling and are seriously looking for ways of quitting their gambling addictions.

 I think addicted people who get wealthy through it is by chance or luck and the individual might even end up losing a good percentage of the huge money he won back to gambling. Well it's better for one to have other sources of income as a gambler than to depend on gambling as a source of livelihood atleast you won't be forced to steal or commit crime to gamble like most poor people do.

Yeah, so basically rich people have more buffer money to play around with gambling, but eventually all their money will be sucked up into the gambling black hole.

That's just how the whole system is designed.

Of course you can have a bit of fun while doing so, and having a tiny chance of making money, but if you gamble all your money, you will most probably end up poor, or worse.

Well, I feel that anyone that develop gambling addiction habit and doesn't change, may not even become too wealthy unless by chance. It's possible that some rich people actually started gambling after they have started earning huge from other source, all of a sudden, someone just advised them to start gambling for fun which they took the advice and started gambling till date.

I don’t think the rich do win when gambling more often than poor people do. When rich people do win, they probably win more money than poor people do but that’s because they bet with higher stakes.

What they won’t tell you is that they lose more money than poor people do, because they are betting with higher stakes.

I don’t think rich people win more often than poor people do at all.