Why the rich win gambling more than the poor. - page 9.

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Quote from: Mr.right85 on May 11, 2024, 06:31:23 PM

Quote from: Pandu Geddon on May 11, 2024, 12:05:45 AM

What is certain is that rich people have the capital to play bigger. they get more opportunities in the game. I'm not sure how much capital to use to win. but those with more games may have more chances of winning.
gambling is indeed luck, but luck also comes with opportunities. and the rich are closer to their chances of winning. although it does not rule out the possibility that those who bet small can also win.

If your a sportsbook gambler, it ain’t easy to associate certain odds with a high probability of a win. It’s the first means to getting by with predictions and the next is how well you know a team. Such that, even when they are given high odds, you could still come up with good predictions on possible results.

Rich gamblers often goes for the high stakes and low odds which means, they’ve got high chances of a win. In most cases, they eventually do, it’s low risk right. For the poor gamblers, they depend on high risk and accumulator options to attain odds that would make their stake worth something. In most cases, it ends as a loss.

In most cases, low odds in some sports are likely to happen. So these rich gamblers can afford to put high stakes and this is like a sure win for them. But of course, it is not all the time that they are in luck. However, for poor bettors or small time rollers, they are taking their chance to higher odds as they have only small amount of bet. Hoping that there will be upset in the game to gain good profit. But we all know, it depends on the sports you are betting with, the likelihood of upset to happen.

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Quote from: Mr.right85 on May 11, 2024, 06:31:23 PM

Quote from: Pandu Geddon on May 11, 2024, 12:05:45 AM

Quote from: Ever-young on May 10, 2024, 11:55:55 PM

What is certain is that rich people have the capital to play bigger. they get more opportunities in the game. I'm not sure how much capital to use to win. but those with more games may have more chances of winning.
gambling is indeed luck, but luck also comes with opportunities. and the rich are closer to their chances of winning. although it does not rule out the possibility that those who bet small can also win.

If your a sportsbook gambler, it ain’t easy to associate certain odds with a high probability of a win. It’s the first means to getting by with predictions and the next is how well you know a team. Such that, even when they are given high odds, you could still come up with good predictions on possible results.

Rich gamblers often goes for the high stakes and low odds which means, they’ve got high chances of a win. In most cases, they eventually do, it’s low risk right. For the poor gamblers, they depend on high risk and accumulator options to attain odds that would make their stake worth something. In most cases, it ends as a loss.

Most definitely.
But sometimes the low risk engagement can also be quite disadvantageous to the rich gamblers, it's just like going all in, a gambler betting all his money in just a single stake with intentions of making double of his stakes. Gambling can be really unpredictable, especially when it comes to Sportsbook, no matter how well you know a team, there's and no matter the odds given, the chances of losses are there and going all in could either increase your chances of losing, or increase your chances of winning, depending on the outcome of the game.
Some rich gamblers end up losing even more than the poor gamblers when the odds suddenly turns against them and single mistakes can end up claiming all their money and make them incur huge losses compared to the poor gambler.
Well you can say for sure if that's actually a huge loss for the rich gambler while comparing to the poor gambler, because of their differences in financial status and capabilities.

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Quote from: Pandu Geddon on May 11, 2024, 12:05:45 AM

Quote from: Ever-young on May 10, 2024, 11:55:55 PM

What is certain is that rich people have the capital to play bigger. they get more opportunities in the game. I'm not sure how much capital to use to win. but those with more games may have more chances of winning.
gambling is indeed luck, but luck also comes with opportunities. and the rich are closer to their chances of winning. although it does not rule out the possibility that those who bet small can also win.

If your a sportsbook gambler, it ain’t easy to associate certain odds with a high probability of a win. It’s the first means to getting by with predictions and the next is how well you know a team. Such that, even when they are given high odds, you could still come up with good predictions on possible results.

Rich gamblers often goes for the high stakes and low odds which means, they’ve got high chances of a win. In most cases, they eventually do, it’s low risk right. For the poor gamblers, they depend on high risk and accumulator options to attain odds that would make their stake worth something. In most cases, it ends as a loss.

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Quote from: Pandu Geddon on May 11, 2024, 12:05:45 AM

Quote from: Ever-young on May 10, 2024, 11:55:55 PM

With the experience I have seen so far, the rich gamble more because they are not losing anything, they are still getting money because they don't actually depends in gambling as their source of income, and some of them gamble for entertainment, so whether they win or not, they really don't care and I have also noticed that this kind of people wins more too because they don't have the mentality that they will become rich from gambling. So they gamble maybe to ease stress and pressure etc. And also they also gamble more because they are not afraid to lose and they are also working out their money in other ways like from their skill of acquisition or in their place of work.

What is certain is that rich people have the capital to play bigger. they get more opportunities in the game. I'm not sure how much capital to use to win. but those with more games may have more chances of winning.
gambling is indeed luck, but luck also comes with opportunities. and the rich are closer to their chances of winning. although it does not rule out the possibility that those who bet small can also win.

Yes the rich has a huge bankroll and that is surely an advantage they have over the poor gamblers, this often helps them to consider better gambling strategies that would increase their chances of winning, for example, a poor gambler can walk into the casino and attempt to predict over 6 to 7 sports events to come with a good potential win, because of their small bankroll, while the rich can walk into the same casino and pick just 1 or 2 events, and then stake higher, thereby increasing his chances of winning.
It's more like, the bigger the bankroll the higher the chances of winning, and that's the advantage that the rich have over the poor.

But it's also important to know that this could also be disadvantageous too as it also increases the chances of more loss for the rich, because the higher his stakes, the more there is at stake to be lost.

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Quote from: Ever-young on May 10, 2024, 11:55:55 PM

With the experience I have seen so far, the rich gamble more because they are not losing anything, they are still getting money because they don't actually depends in gambling as their source of income, and some of them gamble for entertainment, so whether they win or not, they really don't care and I have also noticed that this kind of people wins more too because they don't have the mentality that they will become rich from gambling. So they gamble maybe to ease stress and pressure etc. And also they also gamble more because they are not afraid to lose and they are also working out their money in other ways like from their skill of acquisition or in their place of work.

What is certain is that rich people have the capital to play bigger. they get more opportunities in the game. I'm not sure how much capital to use to win. but those with more games may have more chances of winning.
gambling is indeed luck, but luck also comes with opportunities. and the rich are closer to their chances of winning. although it does not rule out the possibility that those who bet small can also win.

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With the experience I have seen so far, the rich gamble more because they are not losing anything, they are still getting money because they don't actually depends in gambling as their source of income, and some of them gamble for entertainment, so whether they win or not, they really don't care and I have also noticed that this kind of people wins more too because they don't have the mentality that they will become rich from gambling. So they gamble maybe to ease stress and pressure etc. And also they also gamble more because they are not afraid to lose and they are also working out their money in other ways like from their skill of acquisition or in their place of work.

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Quote from: n0ne on May 10, 2024, 06:59:24 PM

Quote from: Riginac111 on May 10, 2024, 05:30:57 PM

Any rich person have the mentality of becoming rich more and the kind of amount they will use for gambling someone who is poor cannot use such amount to gamble a rich man have the opportunity to take a very big risk but a poor man will not think of getting into risk because it's always conscious or for the one that he has and he don't want to take a risk and get more so the reasoning of poor person and the rich person is not the same

Rich doesn't consider it a source of earning, they consider gambling as entertainment. The rich have different sources of income, and they just as an enjoyment spend on gambling and never expect a win out of the gamble. This isn't the situation with the poor people, they find gambling as a source of income and keeps trying. This makes them take unwanted pressure and keeps gambling with the hope of making money. Rich allocate a small amount and he or she spends it for the day and stops. This mostly won't end up with big loss and here they might win better than a poor guy focusing to win and multiply his bet amount.

The key words to take out here would be, perspective and bargaining power.
While the rich sees gambling as an entertainment that is used to either network, negotiate or make deals with business partners, the poor see it just as you said, as a means to earn quickly to meet immediate needs and pay off debts.
Also, the bargaining power I am referring to here is the money involved. The rich might spend much money just to enjoy the thrill of gambling as compared to the poor and the rich may care little for the profits or wins so much so that they even offer chips to observers who can try their own luck on the table.

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Quote from: Riginac111 on May 10, 2024, 05:30:57 PM

Any rich person have the mentality of becoming rich more and the kind of amount they will use for gambling someone who is poor cannot use such amount to gamble a rich man have the opportunity to take a very big risk but a poor man will not think of getting into risk because it's always conscious or for the one that he has and he don't want to take a risk and get more so the reasoning of poor person and the rich person is not the same

Rich doesn't consider it a source of earning, they consider gambling as entertainment. The rich have different sources of income, and they just as an enjoyment spend on gambling and never expect a win out of the gamble. This isn't the situation with the poor people, they find gambling as a source of income and keeps trying. This makes them take unwanted pressure and keeps gambling with the hope of making money. Rich allocate a small amount and he or she spends it for the day and stops. This mostly won't end up with big loss and here they might win better than a poor guy focusing to win and multiply his bet amount.

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Quote from: Mr. Magkaisa on May 09, 2024, 09:04:30 AM

But in reality, long-term gambling is really on the side of the rich gamblers and nothing else. We know that there is a long distance between the poor gamblers and the rich gamblers; that's just the way it is.

I agree, but in order to keep gambling, some poor people ends up by engaging in some unhealthy activities to continue gambling. There are some people who are ready to deprive themselves of food and will rather use the money they are supposed to buy food with; they will use it to gamble. Some poor gamblers can even take out loans to gamble, and some of them will steal to gamble. Rich gamblers can keep up in the long run, probably because they have a sustainable source of income where they are usually getting an inflow of cash to replenish their casino wallet.

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Any rich person have the mentality of becoming rich more and the kind of amount they will use for gambling someone who is poor cannot use such amount to gamble a rich man have the opportunity to take a very big risk but a poor man will not think of getting into risk because it's always conscious or for the one that he has and he don't want to take a risk and get more so the reasoning of poor person and the rich person is not the same

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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.

The rich have more staking power ( funds) than the poor, a rich man will use a huge amount of money to stake little odds while the poor will use a little amount to stake huge odds and he will be so bullish to win, the bigger the odds the fewer chances of winning.

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Quote from: $crypto$ on May 10, 2024, 08:39:15 AM

Quote from: Mr. Magkaisa on May 09, 2024, 09:04:30 AM

- Rich gamblers have a higher chance of surviving than poor gamblers, unless a poor gambler is lucky. But the rich and the poor gamblers are the same; they often lose when playing gambling.

But in reality, long-term gambling is really on the side of the rich gamblers and nothing else. We know that there is a long distance between the poor gamblers and the rich gamblers; that's just the way it is.

If they are poor, why should they gamble, isn't it difficult to make ends meet because they are poor? So there is no need to force anyone who does not have extra money to gamble.
Gambling is only for pleasure while the rich to do pleasure is free of anything including gambling because they are rich in abundant money and even if they lose in gambling they still have a lot of money in their accounts.

Oh believe me, that's the way it is when it comes to gambling, they don't care if you're rich or not as long as you have money that you bring to them to gamble, now if you ask why some poor people gamble, because they hope to win of a large amount, their goal is to win because they see gambling as one of the easiest ways to get lots of money, maybe for those of us who have the means in life, gambling is just a hobby or part of enjoying our life but to others, they consider it a source of income which is very wrong because instead of making money, they lose more especially if they are not lucky in gambling.

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Quote from: Mr. Magkaisa on May 09, 2024, 09:04:30 AM

- Rich gamblers have a higher chance of surviving than poor gamblers, unless a poor gambler is lucky. But the rich and the poor gamblers are the same; they often lose when playing gambling.

But in reality, long-term gambling is really on the side of the rich gamblers and nothing else. We know that there is a long distance between the poor gamblers and the rich gamblers; that's just the way it is.

If they are poor, why should they gamble, isn't it difficult to make ends meet because they are poor? So there is no need to force anyone who does not have extra money to gamble.
Gambling is only for pleasure while the rich to do pleasure is free of anything including gambling because they are rich in abundant money and even if they lose in gambling they still have a lot of money in their accounts.

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

Why the rich win gambling more than the poor.

We will answer logically, we see the facts on the ground, the way they earn money is difficult for poor people, the $10 a day's work they earn is quite valuable and meaningful, For this reason, many poor people never waste their money on unnecessary things, such as gambling.

It's different from rich people, most of them get money easily, what's more, the money they get comes from illegal means, for example corruption and so on, they get money easily and it's easy to spend it, let alone gambling, on average rich people like to double their money, one of the places for them is gambling.

It's not surprising that we often see gamblers, mostly those who are rich, it's a natural law that occurs in human life, rich people think money is worthless, while poor people think $1 is very valuable to them.

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Quote from: jcojci on May 10, 2024, 04:33:14 AM

Quote from: bounceback on May 09, 2024, 08:27:57 AM

Quote from: jcojci on May 09, 2024, 07:42:35 AM

Quote from: bakasabo on May 09, 2024, 06:05:59 AM

I dont agree that rich win more in gambling. I think people have such wrong vision, because large bets and wins got stuck in people's memory for a longer time, and people dont notice small wins. People would remember and pay more attention to "a guy won a million with single bet". But they dont pay attention to details. What if that guy bet 999,099 dollars with 1.01 odd. People wont pay attention to a guy won 100 dollars. When his story might be hundred $1 bets won in a row. People remember big numbers only. In reality, they have almost identical win ratio, but their difference is in bet size only.

Yes, that's true because, in gambling, anyone can win, whether rich or poor. But we might agree that rich people can gamble with more money than poor people. We have seen several people who can win a lot of money using one small bet to become rich people in their area. But rich people may be able to win a lot of money because they can bet using more money. However, the opportunity to win will still be open to anyone, whether rich or poor. We can only keep trying to gamble but still have to pay attention to how much money we can use to gamble.

Yes, in gambling anyone has the opportunity to win a bet, but why do many people say that rich people can win more than poor people, even though in fact this does not mean that poor gamblers always lose at gambling, but usually if poor gamblers win, they will use their winnings? to double the bet with the aim of getting an even bigger win so that in the end you have to lose the winnings that have been obtained previously and leave the game empty-handed, so it will appear that poor gamblers cannot win bets in gambling.

By having the same opportunities, every gambler will gamble more often because they feel they can win at gambling. But it won't all happen easily because they can face more losses, which doesn't only happen to poor gamblers but also to rich gamblers. If they knew about the risk of losing their money in gambling, they should not gamble with a lot of money, especially since it would only increase the risk even greater. Rich gamblers may be able to place big bets, but that still won't guarantee they will win a lot of money and vice versa. Those who can manage their gambling can win because they don't think about winning at gambling but only about having fun at gambling.

Gamblers especially who are addicted, whether rich or poor, they lose at gambling. In this regard who have less money can protect themselves from more loss. Just as a rich gambler can never guarantee for winning a bet, he never worry too much about his bankroll. Because whatever the money in the bet there is a possibility of loss. Again the same happens with the poor gambler. However, even if a rich gambler loses money, it is not as easy to manage that money as it is for a poor gambler. While the rich can easily return to gambling, it takes time for the poor to replenish their bankroll, which is why the rich have a slight advantage and are equal in terms of winning or losing.

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Quote from: kotajikikox on May 10, 2024, 04:42:07 AM

~snip~
Not sure if we have the same observation but we are just calling because they are winning hugely but the truth is poor gamblers also winning mostly but the problem is that they are not contented and yeah they wanted to win more and ending them losing everything instead of going home with small winning.

Yeah, the thing is that poor or rich gamblers get the same probabilities.

The math behind it is the same for both of them

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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.

Not sure if we have the same observation but we are just calling because they are winning hugely but the truth is poor gamblers also winning mostly but the problem is that they are not contented and yeah they wanted to win more and ending them losing everything instead of going home with small winning.

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Quote from: bounceback on May 09, 2024, 08:27:57 AM

Quote from: jcojci on May 09, 2024, 07:42:35 AM

Quote from: bakasabo on May 09, 2024, 06:05:59 AM

I dont agree that rich win more in gambling. I think people have such wrong vision, because large bets and wins got stuck in people's memory for a longer time, and people dont notice small wins. People would remember and pay more attention to "a guy won a million with single bet". But they dont pay attention to details. What if that guy bet 999,099 dollars with 1.01 odd. People wont pay attention to a guy won 100 dollars. When his story might be hundred $1 bets won in a row. People remember big numbers only. In reality, they have almost identical win ratio, but their difference is in bet size only.

Yes, that's true because, in gambling, anyone can win, whether rich or poor. But we might agree that rich people can gamble with more money than poor people. We have seen several people who can win a lot of money using one small bet to become rich people in their area. But rich people may be able to win a lot of money because they can bet using more money. However, the opportunity to win will still be open to anyone, whether rich or poor. We can only keep trying to gamble but still have to pay attention to how much money we can use to gamble.

Yes, in gambling anyone has the opportunity to win a bet, but why do many people say that rich people can win more than poor people, even though in fact this does not mean that poor gamblers always lose at gambling, but usually if poor gamblers win, they will use their winnings? to double the bet with the aim of getting an even bigger win so that in the end you have to lose the winnings that have been obtained previously and leave the game empty-handed, so it will appear that poor gamblers cannot win bets in gambling.

By having the same opportunities, every gambler will gamble more often because they feel they can win at gambling. But it won't all happen easily because they can face more losses, which doesn't only happen to poor gamblers but also to rich gamblers. If they knew about the risk of losing their money in gambling, they should not gamble with a lot of money, especially since it would only increase the risk even greater. Rich gamblers may be able to place big bets, but that still won't guarantee they will win a lot of money and vice versa. Those who can manage their gambling can win because they don't think about winning at gambling but only about having fun at gambling.

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Quote from: Shamm on May 09, 2024, 01:55:37 PM

Quote from: junder on May 09, 2024, 12:00:07 PM

This can be seen from the fact that those who are rich do have more money, maybe they can even use large betting amounts and end up losing, they still have spare money to survive or even gamble again, but of course what you say is true is true. or poor, it's the same, the gambling he will do will most likely only end in defeat, not in victory. Big or small, the money they put in and the number of bets played does not rule out the possibility that they could lose in the gambling they do.

Poor gamblers may gamble with the full hope of winning a win that will help their financial problems, but this is certainly not certain. because winning at gambling will not be easy to obtain, and gambling parties will not look at players who need money or just for entertainment, of course they will most likely only experience defeat, not victory.

Agree with this mate gambling is based on money and we are all know that the more money that gamblers gave the high chance of winning cause they can sustain thier bankroll, even though they will loss around hundred bucks then still they can revive it by betting more in the next round and once they are too lucky then there's a chance that they will win a good amount of money. While those gamblers who have small amount of money in thier bankroll then there's a chance that all of that will loss.

that's for people who really have enough money to gamble and enough to survive. and of course this could be said to be rich, but I think even though we are able to allocate quite a large amount of money to gambling we shouldn't do that, it's better to set certain limits, not too big either. In fact, it is each individual's right, whether you want to risk all the money you have on gambling or limit your budget, that is the will of each individual, but it is better to have certain limits.

with those who are rich who may win more often because they don't hesitate to gamble, even though they use large betting amounts, they don't mind and don't hesitate to do it. In fact, there is no certainty that when gambling we will succeed in getting a win or not based on the size of the budget or the number of bets made, it's just that maybe we have to be brave enough to take bigger risks, but that doesn't rule out the possibility of losing. because defeat will occur more often.

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Quote from: Mr. Magkaisa on May 09, 2024, 09:04:30 AM

- Rich gamblers have a higher chance of surviving than poor gamblers, unless a poor gambler is lucky. But the rich and the poor gamblers are the same; they often lose when playing gambling.

But in reality, long-term gambling is really on the side of the rich gamblers and nothing else. We know that there is a long distance between the poor gamblers and the rich gamblers; that's just the way it is.

You are absolutely right because rich gamblers have more money than poor people so they can enjoy gambling for a longer period of time compared to poor gamblers who have limited time because their money is tight and they have to divide the money for daily life and to play. gambling while rich gamblers don't think about it, they live a life of luxury and don't worry about having to share money for gambling and for daily needs, in fact the chances of winning for rich gamblers and poor gamblers are the same depending on their own luck.

Rich gamblers win gambling because they feel they have sacrificed quite a lot of time while poor gamblers are not like rich people who sacrifice a lot of time and the amount of their bets is different, so it is clear that their wins are in different amounts but their losses are clearly bigger than the losses of the poor people.
Gambling doesn't favor the rich, the fact is that gambling is clearly a game of chance, there are even cases of poor people winning a lot of money from gambling without meaning to. Meaning that luck is on the side of the person who actually got lucky that day, whether they are rich or poor, they both deserve it luck

Topic: Why the rich win gambling more than the poor. - page 9. (Read 3724 times)