Bitcoin Forum

Yesterday I was sorting my winnings tickets I put while watching the game, had quite a nice sum and while standing in line to cash them I thought about how money is moving around, got the idea it's pretty close to a wealth redistribution.

Might be a stupid theory but hear me out on this, we have the gamblers that bet on 1 million, half of them lose, half of them win, the casinos get their 5% share, from this share they pay wages and rent and other costs, cutting the part where the casino gets the money it's that basically gamblers pay the wages of the whole staff manning those, and they also shuffle money between them.
Assuming rich people have more to lose and their share of the losses is bigger, taking into account they support with this money a ton of jobs, 70 000 in Europe alone, is this a form of wealth redistribution?

The casinos are the ones that are benefitting more because both the rich and poor from different countries gather money together for them, and they only give few person little part of that money, I wouldn't call that wealth distribution because the poor are not rich. Of course casinos must pay their workers because it is business and only you cannot run such a business without worker. Moreover, the worker gets peanut compared to what the casino benefits.

Among those that was able to win big only few of them was able to keep this wealth by investing it, while a lot of them lost it back to the casino because of greed or addiction. The house hedge always wins, meaning the casino keeps the wealth of rich gamblers. This is why one should only gamble for fun with the amount of money that he can afford to lose in order for him not to give majority of his income to the casino due to addiction.

You're not wrong about wealth redistribution but you got the numbers wrong.

Casino takes 100% (in the end) and Players lose 100%.

It's an addiction and they're selling the drug.

It always ends the same, that's why I never gambled in my life.

...Then why I'm in the "Gambling" zone ? just for fun.

 :D

That is the same with all businesses, you pay the salaries of the grocery staffs when you purchase a product, you pay the salaries of the airport workers when you book a flight, money you pay to services are used to keep the service running and leave a good enough profit margin for the business.

Gambling is not wealth redistribution, but involves transfer of money as does everything else we pay for.

- Jay -

I do not agree with this. Casinos are not having just 5% from their customers. That is why most gambling sites do not prefer gamblers to gamble between themselves but the gamblers to be gambling with the casinos and the casinos are winning most money. I will say casinos take 95% of the money.

About the money redistribution, I do not think that is worth talking about. I understood your point and you are correct. But redistribution is not correct about this because it is about sharing something (which is money here) among people. The money is not shared to the gamblers that are losing the money to the gambling sites.

I took the numbers from here:
https://investors.mgmresorts.com/investors/news-releases/press-release-details/2024/MGM-RESORTS-INTERNATIONAL-REPORTS-RECORD-FOURTH-QUARTER-AND-FULL-YEAR-2023-RESULTS/default.aspx
It's a publicly traded company so them lying in an investor released statement not only would trigger a fine from SEC but why lie to your own about how much you make when that's the whole point,  it's not a private business there is no hidden entity cashing that money, it's all dividends.

Besides, if everyone would be losing 100%, do you think people woulds till gamble?


But the difference there is that the cost of the wages and everything else is included in the product your buy, everyone has the same share contributing on that while buying the product.
In my case I went there I bought some tickets and I gained money, I didn't contribute one cent to the wages or the staff or to the rent of the location, it would be like a thief stealing merchandise looking from the accounting book.

Wealth distribution in gambling? Sounds new to us its more of wealth donation going to the coffer of the casino.

Then we can assume all business are wealth redistribution based on your theory, casinos are profit generating platform they take the big portion of the profit and the staffs are getting what the casino operators are allocating to their staff even if casino rake in millions or billions the staffs or workers only get a steady income, so its not a wealth redistribution at all when one entity gets a lion share of the profit.
Profit and salary are not the same so its far from being a distribution of wealth.

Isn't that how things work in every business? In every business, a product or service is being sold to customers, and the workers or employees are paid their wages from the revenue earned on that service or product being sold, the same applies to gambling as well. I know it's a bit different because in other businesses, the company or the brand gives away a product or maybe some service to get the money but in gambling, the company gives away money in some cases and give nothing in most cases.

This is how the whole economy of a country works, and that is exactly how it happens in the whole world. It is like a money cycle, you use the money to buy something, the money you are using cycles back to you in one way or the other, it's the same wealth being redistributed hundreds and thousands of time.

In a wired way, it actually a way of wealth redistribution. Redistribution means to give back to the people through an economical process but in gambling it isn't same. Like I have said on several occasions, gambling is a give and take thing. We give to the casino, then if we win or lose, we go home with either of them. The rich folks spend so much on gambling and thus if they lose half or win more, the casinos gathers these little gains and loss from everyone, even from the average gambler. Though it might sound like they are giving back, but it isn't. To make profits from gambling, you have to put in something and if you aren't lucky, you loss it. So literally the casino makes more profits from our loss.

I don't think it is, if it's a wealth distribution then the distribution is not fair the casinos take as high as 90% and those who work for them 5% and their associates 5%.

Do you think you will like the term if you are working in a casino and you are a low-level worker and you are part of this kind of distribution, the proper terms for this is profit distribution and not wealth distribution.

I don't know whether it is weird or not, but I agree that gambling is basically what you propose. Yes, just like any other zero sum game. Someone loses, someone wins, the money changes hands, that's basically what wealth redistribution means.

About a deeper analysis about who benefits the most, it depends on many factors, but basically the kind of game: it is not the same playing poker with friends, slots in a casino online, or a national lottery, to name a few, so I don't dare to generalise.

I do not think that your theory is stupid . I think that there is some sense to it . With regards to payment of wages I think that there is a wealth redistribution system in place even though it may not be a perfect one. When the house wins which happens often, some of it goes into paying the salaries of their employee who in turn spend it in the local economy, buying goods, paying for services rendered etc . And as we may already know there are already hundreds of persons who work in the gambling industry. So in my estimation, this is one imperfect way through which wealth is redistributed.

Let's say you plan to gamble with $100 and lose it, that's 100% of your money. Next time you start with $100 again and lose, do you get the point? :) In the end, many players are more in the minus than in the profit, it counts as if we paid for the entertainment.

This is not wealth distribution, it's a business... and every business has money flow, meaning money gets in and out exchanging many hands. House or some players can get rich or lose everything, but all that is on the individual level, we can't speak about some redistribution where the biggest factor is luck.

Yes because people are addicted.

A gambler that wins is a free advertisement, even if he stops playing after winning (which is a very rare case due to greed), other will join to catch the same luck.

I'm saying that in the end, people vs casino never win, casinos are never negative in their income and this is because it's all a calculated legal scam.

It's the same with lottery, the chance to win is so small 99.999% of people will never win but they keep playing because they keep dreaming.

You go to casino in hope to find a bigger loser but in the end, everyone is a loser except casino owner.

So if you want to win, make your own casino - this is the only proper way.

As for the article you mentioned, you got it wrong:


It's 5% increase from the last year, not 5% revenue.  :D

Gambling is no where near wealth redistribution. The society don't redistribute wealth especially in capitalist economy that most of the countries are running. You can only get social amenities being provided by government, NGO or someone in the society but not in form of money but maybe job creation. If you are gambling then you only risk your money for an increase, you are lucky if you win and unlucky when you don't.


Sorry I think rich gamblers stake reasonably like they can bear and use percentage proportional to their bankroll probably because they understand what it is to risk money. However, despite that they use huge staking power, if you compare total amount on the sum of smaller stake, it might be bigger than the few rich stakers, so who is now redistributing wealth? Thus, more money get to big stakers than poor stakers I guess so.


I don't think the share of loses by rich people is bigger because they are fewer compared to poor players total sum of money on stake because they also have very high number of small stakers than rich stakers.

Anyway, I don't think gambling is a way of wealth redistribution.

I doubt if half of them lose and half of them win, instead it's much more like most of them lose and few of them win. Most gamblers who win don't want to withdraw their winning, instead they will keep gamble till they make crazy amount of money. But, they will lose it all, which make most of gamblers are in loss.

Although few gamblers are making money, the casino is clever too, they will limit the winner accounts and make them to not able to make a lot money from their sites.

I think most gamblers know it's a scam but still try to outrun it, simple as that.

Similar to people in crypto space putting money in premined projects.

Sorry but it's you who got it wrong, you quoted the increase in revenue from one subsidiary, the income versus profit is down the document:

Revenues: 4,375,563
Operating income (loss) 419,344
Net income attributable to MGM Resorts International 313,460

https://finance.yahoo.com/quote/MGM/key-statistics/?guccounter=1

100% means everyone on every bet will lose money, and since I see this opinion more and more I have to ask everyone displaying a gambling signature here something:


Isn't this close to advertising a scam scheme if you are convinced anyone gambling will lose all their money?
How that it work with your conscience?

Who said casino is a place to make money?

Gambling is a game of chance, if you don't lose all of your money in gambling, you can choose to withdraw in loss just like cut loss in trading. Most people will lose, but it doesn't mean every gamblers will lose and not able to make money.

Gambling isn't scam, you can double your money or lose it all, if someone promise to make money through gambling without any risk, definitely it's scam.

Sorry for my mistake, the article was kinda long and I just searched for the 5% you have mentioned.


Because they are paid and not many people care about people getting addicted to gambling - they think it's their own fault and greed.

But advertisements like this are the source of many life dramas.

Some will downplay it and say it's just for fun, not it's not - knowing some people can get addicted and lose life.
Or compare it to investments as everything can be thought as gambling but casinos are made with lot of research on human behavior and they take advantage of that.

Somewhat it may lead you to think like that yet it is not really wealth distribution.The casino has the responsibility to pay all their staff in everything promised to them no matter if they win or lose money so opting to work in a casino is usually a good choice considering the bonuses they give to their staff from time to time.Of course they have the house edge put in place to make sure that they will net profit in the long run which if we think thoroughly is what pays everything for them,the house edge.This is put in place in games of luck and which in turn are usually the most played game in a casino,at least online ones.One can of course call that a form of wealth distribution and I don't think is a bad statement,just not 100% true.

That's deep. :D I don't know how you came up with the idea but you may be right about what you are trying to point out.
Sure, this is where the employees are getting their salaries. The gambling place is the party to make the deal and they have cuts so that they can pay for their employees and other things that must be paid. i.e. tax, electricity bills, internet, etc...

Wealth distribution. Hmmm. There are wealthy people who don't gamble so I guess they are exempted from this. But yes, I mean without the wealthy there will be no large consumers and they are part of that.
I think this thread is best in the "Economics" section. Just my two cents.

Most likely, the facts on the ground that they see are that they continue to gamble, including those of us here, actually everyone knows that gambling never makes you rich, so why do people continue to gamble, the fact is that they often lose, that's human nature, lust, actually what needs to be blamed is the lust that exists in the human body, not gambling, if someone can fight lust, automatically gambling is not a source of wealth and income for those who think.

It's all your wish, of course you already know the risks, before buying a ticket, but you still buy, stealing can be said if they force you to buy a ticket, do they do it, of course not, so whatever you do in gambling on willyourself.
Distributing wealth carried out by gambling parties is another matter, half loses and half wins, those are tricks and games in the gambling arena, in that case whoever is affected positively and negatively is at their risk, that is gambling, cunning and cunning.

The casinos will be happy to know that they are a channel for wealth redistribution and they are going to justify wealthy people to continue gambling to redistribute their wealth but it is never the case, the casino is the one that will benefit from this unfair so-called wealth redistribution, wealth redistribution is one will get fair shares on all the beneficiaries or receivers and not one getting the lion shares.
This is a weird comparison we could have applied it to other industries but I doubt its ok in the gambling industry.

Any multi business requires workers for them to put hands on deck to get things working and, the workers must be paid for their services as it's no charity organization. Then in the chain of wealth distribution assuming that's actually what the wins and losses in casinos entails, the casinos are the ones getting the largest share % in the distribution, while a small amount of money goes to the few gamblers that  manage to get a win.

During the COVID-19 pandemic in 2020 which led to the temporary stop of some of the popular sports leagues leading to a low patronage from gamblers due to the sit-at-home order by the government yet, the gambling industry in Nigeria still made a monthly billion $ benchmark with a daily $5+M profit, how much more now all activities have resumed worldwide.
  check here.  (https://techcabal.com/2023/04/17/what-orbits-research-tells-us-about-nigerias-2-billion-betting-industry/)

MUhahahahah little padawan, or even better You know nothing, Jon Snow!!!

First mistake, you assume everyone here gambles when in reality few do, most are too damn stupid to even place a real combined bet, I saw a guy predicting a no-goal and team A leading in the first half, some even think gambling is against their religion, but earning money ISN'T!
Second assumption, and again bad one is that you think they do what they say, users here talk about how bad is to keep money on exchanges only to get caught their payment address is an address on a CEX.
Anyhow:


This is where you went wrong with this one but as a typical antisocialist and pure capitalist I do find it interesting as a bit of it is true

The logic might sound proof at first since it's basically a pot, everyone puts money in some get more some get less back and a cut of it gets redistributed to people who have made it happen, at first glance there would be no difference between this and some donation box or some fundraising for the needy, but it has a weak point the redistribution might be too lopsided based on the pool of players and the money that is spent would be spent on something else eventually even without the option of gambling.

Actually scratch this, even if it's uneven it's still redistribution....I got caught up in thinking it was about social equality!
I need to think about this once again from a different point of view.

Those who tell you that have told you the idea but have not explained it to you. In PvP games the casino charges a commission and there are players who can make consistent and long term profits. However in casino games it is not possible. If the House Edge is 5% that is on one bet. So if you bet $100 the expected value is $95. You may get $0 or $2K but in the long run that is what you will get as a return on your bet.

Now, you have to include compound interest in the equation. Doing the operations in an abstract way, if you were to get $95 out of $100 and you bet it again on the same bet, the expected value would be 90.25, if you bet it again it would be 85.7375 and so on until you run out of money.


No they are not a scam because the numbers are there and the casinos publish their fees and House Edge. The casinos, the honest ones, give you what they offer, and the people who bet properly on casino games, what they do is to enjoy moments of entertainment, for which they pay like those who go to an amusement park, because they offer them emotions and the possibility of winning money in individual sessions, but never in the long term.

In short, I don't have any conscience problems about it.

LOL It's like asking drug dealers if they feel sorry for people...

I disagree with the OP on his conclusion that gambling is a means of wealth distribution among people. This is because both the rich and the poor losses more than they win and they casino takes the major share of the money. When we mean wealth distribution, it means that it most go round the gamblers but if you don't win how will you get your own share.

Gambling is a business to entertain gamblers through the casino services and you pay for participating in their games, but to attract more people, the payment that was made to participate in the game is used to stake for you, so that it will be that if you win the game there is a reward for you but gamblers misunderstand this and started going after the casinos money.

Not to take all their money through clever tactics and addictive techniques designed after years and millions of dollars of research ?

Damn, all this years I was so wrong about it, they just want to entertain us.

I am calling my friend who supposedly worked in one of this kind of researches and call him a F liar.

There are many of us who, apart from advertising casinos, are also gamblers and make responsible use of gambling, even if your gnat brain can't understand that.

First you come up with the weird idea of redistribution and now you come out with those, don't you have any more weird ideas you want to share? Do you feel lonely? Misunderstood?

I didn't understand the 100% and will maybe not unless I get confirmation that my theory is flawed even assuming typical accounting
I play 100$ on slots, randomness will eat 5$ and return 95$ in winnings.
I play again a few hours with $95, I will lose 5$ and get only 90$ back.
I lost 10$ that day but I did not play 100, I played $190, am I wrong?
Assuming that I am right the 100% is impossible?!?!?!



My opinion that you shouldn't anyhow because you never said 100% loss for everyone, that percentage made me use bold letters and ask about it since as far as I can understand this would mean every single gamble would mean you lose every single cent and I can't picture this mathematically. Unfortunately enough to the subject discussed my whole experience is with sports betting, making the house edge or continuous playing  under losing percentage not relevant to my own numbers.

It was not my idea about redistribution.

As for your comment, it sums up who we are dealing here with.

No comment needed.   :D

Referrals.. get a job.

I do have a job and I am not getting referrals through my signature.

Here the only thing you are making clear is that you have no idea how this works and you are very upset that many people like me, in fact the vast majority, enjoy good gambling.

Get a life.

What the hell are you doing in this forum and even more in the gambling section if you think it's so bad?

You have a referral link in your signature...

I have never associated gambling or casinos with wealth distribution whatsoever in the past, if anything I used to see gambling as a form of wealth concentration by  those managing those casinos or the bookie in question. whatever the case, in the imaginary scenario you are putting on the table you are assuming there will be always with delnlnd pockets losing money to people who have less money than they do, which is not completely true . There will be occasions someone with much money will end up profiting from people with less money than him.
Sportbetting could be some form of wealth distribution at times, but when comes to wealth distribution there are better techniques (specially planned by left leaning governments) to accelerate wealth distribution in favor of the less fortunate ones of society.

Yes, but it is not my personal one. If I refer someone through the signature to the casino I don't win more or less. All of us in the campaign wear the same one, or we should, as far as I can see most of us wear the one you can find here:

https://bitcointalk.org/index.php?topic=5265892.0

What I just realised is that I should have updated it and missed it.

I owe you a merit. I am out atm.

I don't know who benefits from those referral numbers but it's not me.

no prob, i'm leaving this area, not my world.

...and good luck.

I think it's not just about wealth or about rich people distributing their wealth on gambling because after all, poor people can also gamble as long as they still have money even if it's not much. With that said, I don't think it's about distribution, because even though they are rich people I think they also still expect their money back with the expected winnings. After all, the casino also certainly has other income perhaps from an investor so that their operations continue to work well or as it should. So, whether it is strange or not about the distribution of wealth, for me it is not right because every gambler also gambles with their own targets because after all, if it is called distribution then they will gamble to lose and not to win.

It has being well said already from other previous replies that the gambling platform is the one that benefits the most and get the 100% gain and the gambler loosing from the whole percentage, well there could be enough reasons to back this up as being the actually scenario of what is going to transpired or that has already been happening with everyone making bets, though the casinos also in some little ways take part from these loss also, but we shouldn't completely see it as a means of wealth redistribution, instead a thing of luck and survival of the luckiest.

I agree that it is not. It's not even with a gambler's will to do so, at least on his/her priority unlike with purchasing something or paying for a service. The  primary goal is to simply make profit ( for most of the gamblers) and not minding that they are already paying the service provider or the whole mechanism. Wealth redistribution is something that runs continuously. Examples are charity and taxation; doing a charity will give you a thought that you are putting the money for other's comfort and needs. Same goes with taxation that you are aware it will be used for country's projects for its people. In gambling, in most instances, you'd more think of what you will get than others' benefit from your bet. So yes, it would most likely be described as with the process of purchasing something out of personal motive.

No offense but I always think that almost all casinos are money hungry or greedy that they can only think of them selves, so what you are saying that they will be happy blah blah blah... is impossible. In fact I think they will be annoyed more when they figure that out. Casinos can also benefit from the poor people, so they can encourage them as well to play more.

If we want to help the others, it will be better to just donate the money straight to them and not use the casino as proxy because like you said, they can only corrupt it. Indeed this also happens to other industries most especially in the charity one/itself and this is why many people are discouraged to donate there after knowing it.

10% of $1,000,000 is $100, so if you wager $1,000,000 and you lost it, it means you have lost all the money you wagered with and not 10%. Gamble is risky and gambler need to gamble responsible by risking what he can afford to lose and not the other way round. If a gambler have a lot of money and can afford to risk 1 million dollars there's nothing bad with that because he can afford to lose it.

I do not think of gambling as a wealth redistribution pattern even as a weird one.  The reason behind is that it is so flawed if we call it redistribution because the amount of money the gambling being transferred to is from many to few.

Like the house or the owner of the gambling scheme getting the most of the money and this is simply can't be called redistribution but accumulation where money gets accumulated from many gamblers to just a few entities like what happens in lotteries and other gambling platforms.


It is obvious that business establishment wants to prosper and casinos and gambling platform is no difference. If they can monopolize all players then it is best for them, every business establishment is greedy to get customers, because it is their means of surviving and prospering.  I do not think casinos and other gambling platforms are more greedy than any other business establishment though.


It is too much of a task if the casinos makes an individual approach over people who need help, we have institutions for that so I believe it is wise for the casino to take advantage of using institutions for their charity works.  Saves a lot of effort and time for them.

Without gamblers, casinos will not exist or may not be a successful business. Without gamblers losing their money even more than they can earn casinos will definitely go bankrupt because of paying more winners. In a Nutshell, I will say that casinos are redistricting just a small percentage of what they have earned from gamblers. Don't forget that there are billions and trillions of gamblers losing everyday and the casino owners are making huge profit seriously which can not be compare to their payout.

Somewhat true, casinos are mostly the ones and only ones that are beneficial. Of course, it's their business, and the more gamblers lose money, the more they can earn. That's also why I don't believe in those casinos that want to raise awareness or campaign about stopping or guiding those who are too addicted to gambling and also give rehabilitation to those gamblers who are too addicted and losing a lot of money.
 
That is the scary part about casinos. They can do everything in order to earn money, or it becomes favourable for them, and take advantage of those gamblers who are desperate to win in a casino game. All though you can win a huge amount of money in gambling by hitting a jackpot, of course it could also be a trap that will create false hope for those money-hungry gamblers. So gamble moderately and do not trust too much on a casino platform.

It's not like that, I admit your theory of "redistribution of wealth" is quite interesting but the fact is that the gamblers who continue to gamble the poor get poorer and the rich get poorer very quickly rather than building their wealth, and no gamblers get rich from gambling except the casino owners.

There may be some winning schemes, but I don't think anyone gets rich from winning, and it comes down to luck, it's not a place where you move the ball to another hand with the same shape.

I would not go to that extent that it is wealth redistribution, it is more like a company selling its product and the employees getting paid from the profits. Indeed the casino industry manages to create a number of jobs. That is why the people who profit from gambling are the ones who are working with the casino and not playing in it. This includes the owner, bankroll investors, affiliate marketers and offline workers.

If you opine that most of the casino workers are poor and they are getting paid from the rich, yes that would be correct apart from the fact that everyone does not work at the casino, so it is a skewed distribution.

I don't think you can call it a scam, it's just that you need to understand how it works. What most people do is ignore the facts and realities about gambling and make stories of their own in their minds when they are getting into gambling. They start building skyscrapers in the sky about the money they can win from gambling but they don't realize that it is just a possibility and there is no guarantee for that to happen.

This thing usually makes people lose more money than they can afford to lose because they keep trying to achieve what they have been dreaming about and the nature of gambling doesn't let them accomplish that because it's only for a few extremely lucky people and not everyone can have that much luck.

So, it's mostly disappointment.

10% of $1,000,000 is $100,000 check your math again!


I never said it's a social program where the poorer get more and the richer less, I said it's wealth redistribution and if money leaves one pocket and other receives one without any economical activity between them, such as buying goods, selling a car, renting a flat or teaching a math class I think it's just as much of redistribution as taxes are.

Sort of. You explained really well on how many redistribute from gambling but this assumption is only true if casino doesn’t use their own bankroll to match players bet.

For example, Casino payout on bets when 1 player bet on side A is not always from Player who bet on side B to balance it because casino cover some of the missing bet from the minority in case the majority win. Meaning if the minority win then casino will pocket more than the house edge since they risk too some of their bankroll to match uncover bets by other side.

The house edge gives the casino guarantee profit but that doesn’t mean their profit is limited to it. So they are getting huge money that are redistributing to employee but the majority will go to the owner so it’s just another millionaire in the making rather than a wealth redistribution.

Sounds just like it, a good theory. Remember that gambling is a big business, everyone makes money out of, from gamblers to casino owners. But that's it, there no connection to wealth redistribution whatsoever, it's just the probably, others win, and then there are losers regardless if you are rich or whales. Of course, in a landbased casinos, there are a ton of jobs that is being open locally, because as I have pointed out, it's business after all.

There are even a country that really looks for gambling as their main source, and it's Macau in Asia.

So don't overthink about it my friend, wealth redistribution, wealth inequality will be there throughout human's history.

The casino just gives what these gamblers are looking for and we are not forced to gamble which is why we don't have a reason to blame casinos for losing our money. Let us accept the fact that while gamblers lose money, casinos are benefiting from it. And while some gamblers lose, there are few gamblers who win. If we think this is not the best thing that will happen to us then we also have to ask ourselves why we choose this life when we know we can possibly lose our money. But I believe there is one reason that encourages us to gamble -and that is because of money. We are greedy and think that through gambling we can improve our living and become rich easily. Unfortunately, luck never comes to easily as well which we may lose terribly first before we win.

If being categorized under wealth distribution, the gamblers take lesser amount compared to the casino. The funds don't even stay longer in the hands of the gambler before it's been taken by the casino, to be given back to the gambler next time. It's actually what the market is about. Money circulates from player to another helping the casino business grow. And we must know that wealth is created when raw materials are being joined together to form a new product. Casinos are gaining from their ideas.

Gambling is just an activity that could be done anywhere any time. Casinos only fixed some materials together and told people that gambling in their place does the changes and would yield them more funds. Because, it'll be hard to gamble everyday if they weren't casinos. Due to the fact that, gambling is not a one man activity. People need to come together and disagree on an idea or opinion then they'll be urged to gamble over it. Such things wouldn't happen all the time. But casinos fixed this, and are killing it for their provisions for a comfortable gambling environment.

Thanks for the interesting topic. The distribution of casino finances operates in the same way as all other businesses: the rich get richer and the poor get poorer. By rich in this case, we mean casino owners, they actually cannot be poor. And they are constantly receiving an influx of money from the poor. Those masses of players who, in the hope of changing their lives, carry and carry money to the casino. And let the casino pay the salaries of the workers, but these are small amounts that are not able to make rich out of poor casino workers. These are my thoughts.

We all want to experience that high, that dopamine rush, that sense that we might, just maybe, overcome the odds and leave with a sizable cash pile. But come on, guy. Casinos exist to take money from you, not to give it to you. They resemble those really attractive girls that will take advantage of their awareness of their attractiveness. Without a doubt, occasional gambling is OK. That is, however, only amusement. It's a diversion and, with luck, a little thrill. But you're dreaming, brother, if you believe playing blackjack or spinning the roulette wheel would make you wealthy quickly

Yeah, casinos are absurd. But life is absurd too. Just circling about this rock, trying to make sense of it all. Enjoy yourself in the casino, then. But don't lose sight of reality, man

Have you also noticed that we have more losers than we have winners, who collects all the money from these losers? The casinos. You are not wrong about gambling being a weird way of wealth redistribution because gambling actually takes from the poor and vulnerable ones and give to the rich casino owners with only a small portion of those money coming back to the people.

No one should buy into the idea of trying to gain wealth through gambling because the more you gamble, the more you enrich the casinos. Have you taken time to count the number of times you've lost at the casino and the number of times you've won? You will realise that your winnings are no where compared to what you've lost since you started gambling. This is to show that no wealth is coming back to you, the weather redistribution is in a regressive manner.

Yes, in fact it is a serious reality of casinos, that is why casinos only play it for adults, because it has so many intrinsic things that makes anyone fall into temptations that lead them to a total abyss, and it is played with the mind and that makes them spend money from their pockets, just to go to the money plane, which gives everyone a lot, because we all want money, you can't say that nobody wants it, well except the rich who have plenty, that's another thing, but the majority in their eagerness to seek to multiply money then fall into the simplest traps making them fall many times into addiction.

Players may not be able to successfully win big in gambling, but wealth is distributed through gambling. Millions of people gamble everyday and lots of money enters into the market via gambling. Which also can be linked down to building the economy of some nations. This means that some people get paid because others spend money gambling.

The chain is long and it's just as any other means of generating money in the market. Funds are being exchanged between the player and the casino. And most times the player would lose for another player to win. The house is winning, and as well lose out lots of money to keep the business running. The wins distributed each day are very high amounts of money.

We all could be wrong too, as I also believe you are wrong on this. Casinos don't take 100% of everything; in fact, most of the time, some gamblers also do win some good amount of money, even if it's not up to 10% of the total wager, but at least it will reduce the number from 100% down to something less. 
 
On the other hand, casinos also have some third parties to settle with, like some of them that have third-party games running on their casino. There is also the tax they have to pay for salary, security, and other expenses. 
 
No doubt the casino takes the highest share, but it's not up to the amount you rate them to be taking.

Yes and no. It's technically redistribution, but not in a sense what we traditionally mean with that term. It's about collecting money and giving some of it back in a random looking way.

But it's more symmetrical, because if losses of rich people are bigger, so are often their wins. Likewise losses of poor people are smaller, and so are their wins. So it's not taking away from rich and giving it to the poor, but taking a away from bunch of people and giving lots of it back to few lucky ones, and changes are that poor people are winning less. Aside from insanely lucky lottery winners that might or might not have gambled with lots of money.

But we can just call it gambling, as everyone knows how gambling works and calling it redistribution is misleading, even though i understand what you mean with it.

Casino is a business and I understand where you taking this from and think of it. Well, it's sort of a wealth distribution if it's coming from the wealthy but this is an accumulated effort and money of every person from different forms of life. The rich, the average and the poor. As long as there are people that will lose for which is assigned for most of the gamblers because of the algorithm and the casinos are into the business and not a charity that will just give out their money and you pointed out one important factor on them and that's the operational expenses.

Coming from the staff, the rent, electricity, rent, and other bills. They need to do something for that and that's how they're spending all of the losses of their customers. And as for the losses, it means money and profits to the casinos. Well, one dark side of it from what you're thinking of it is that they're also being used for money laundering and that's why they have gotten stricter more than ever.

The casino business is indeed a complex one. It appeals to all strata of society, the rich, the average, and the poor, equally. The algorithms of the games are structured in such a way that they always favor the house, ensuring that a majority of gamblers end up losing.

The various operational costs, including those related to staff salaries, rent plus electricity and other numerous bills, all spell out the necessity for casinos to keep their profits high. In addition to that, money laundering practices paint a clearer picture as to why casino regulations tend to be stringent. These details together present casinos as profit-driven business entities; it appears charity is not their forte.

The rich don’t always loose, let me tell you that. Sometimes, the very opposite is what you find as the poor man tends to be much more daring and takes more risk on the odds than a rich man would do. For a rich guy, it’s always about let the money work for me and with that, you could find them with unbelievable stakes on a bet and sometimes, it plays out for them, just a single bet. The poor guy would rather go for multi bets and there could be that one game that would end it all.

While looking at it to be some way of wealth redistribution, yeah it could be that. It easily becomes the hope of a common man and that’s why, you can easily find them gambling all day with the little they’ve got. Looking for that saving grace bet and it does come to some. Afterwards, it becomes an issue of how you choose to utilize your luck to benefit you.

Since you already perceived that the idea may be a stupid theory that means we are going to be contributing based on just fun and false assumptions,  gambling can be a fast way to wealth generation and distribution in the sense that gambling os lime robbing Peter to pay Paul because in most cases one man lise is another man win in gambling.

So it then means that, gambling is like robbing play A to pay player B regardless of they both financial class.

If gambling is taking away from a bunch of people, isn't it an accumulation rather than a redistribution?  Besides, poor gamblers are too many that the cumulative amount may equal or even greater than the amount spent by rich people.  We can say that individually poor gamblers spend less and rich gamblers spend more but in a cumulative state, they may possibly be equal in amount. 


I am with you on this, calling the money flow in the gambling industry as a redistribution of wealth is somehow misleading.  Since most money ends up in few people, it can be considered as accumulation rather than redistribution.


I somehow have a different point view on this.  I believe this is not any kind of robbery but a business.  Casino or gambling industry offering entertainment with a chance of winning, the industry openly declares the risk to their client so this can't be consider a fraud act or a kind of robbery.  Besides the house have the fund to pay their client so it is not right to say that the house needs to rob player A to pay for Player B since there are instances where Player A and Player B need to be paid.  Since gambling is business any losses from player A and player B can be said as profit by the house and is considered to be money of the house and will be used to pay the winner.  So in this system, it is not the player that is paying for the other player but the house paying for the winning player.

It actually is a complex one and it is not different from other big businesses that we know. They need OPEX to cover their entire company to keep it running and they have staff to pay and everything. And that's why they need to have a source to get all of those expenses and the difference is that they're a gambling business. While the others have different products but if we're going to take a look at it, they're all in the same logic as a business. There is no need to be too wary about it because it all lies to the profits that they all get from all their customers and everything is calculated and on a budget including promos, bonuses, etc.

You just figured out how the 1 percenters use the casino as a money laundering machine my friend. And I don’t even need to explain how it works any further because it is just like how you explained it, with all the bells and whistles included too. You take out your money and convert them into chips at the casino cashier, they give you an equivalent amount you play and/or pay with while you’re inside their premises, when you’re done with it you withdraw your money, and voila, the once dirty money is now clean and free from all grimes if crime or whatever.

It’s literally how it all works lol. And while you may call it wealth redistribution, which is why it sounded weird to you in the first place, the people knew this is a money laundering scheme.

Redistribution no.  Casinos make way more than the 5% vig that they put on the bets.  In terms of Redistribution it's more a pa's over to a company.  While yes one person loses amd one person wins but in the end even the winners typically lose so I wouldn't say it's a Redistribution of wealth but rather a way of entertainment at a specified cost.

No this one. I don't think a casino will only get a half. they must get more than 90%, while the others are about the affiliates or others using cheats. Ah maybe it is more percentages again for the casino.

because I believe, the principles of a casino are:
Taking as much people's money as possible, forever, and making people unable to stop leaving the casino.
Yes, without us realizing it, we are trapped in the casino and in the end we follow their path, where the casino will win much more, while the players will lose many times more. but unfortunately, even though they know this, they are lazy enough to stop and it just gets worse in the hope that the casino will be more kind in making them win. And of course, that won't happen

Yes, it's a voluntary form of wealth redistribution where riches aren't forced to give their money away to society, but do this because they want to be entertained and risk their luck through an activity called gambling. I guess 100% of signature campaigners on this forum who have been working for casinos are a good example of that, right? Because people here aren't wealthy players, but average folks looking for extra income opportunities on the internet.

People say the poors are harmed by gambling, because they can't afford to lose anything and still gamble anyway, and that casinos are the only ones benefited after all. However, I don't think it's true, because as you said, the industry creates lots of jobs and moves huge sums of money which impacts directly or indirectly many sectors of society.

Check touristic gambling cities and regions, like Las Vegas and Macau, so you will see how gambling is important for the local economies and how it benefits not only the gambling houses, but also the hotels, restaurants, transport services and so on.

Broadly speaking, yeah. For as long as those who have the money spend what they have, the wealth is somehow redistributed. Although this isn't the kind of wealth redistribution that involves social mechanisms in order to address inequality. But, again, spending helps the larger community in one way or another.

The problem with this kind of wealth redistribution is that so many gamblers are poor. The rich gambling companies are milking them to further grow their wealth. It would be a different story if gamblers are only the rich ones who don't care if they're losing so much. In reality, however, social ills are created through gambling because there are so many poor yet irresponsible people who are spending so much in casinos but forget to provide even the basic needs of their families.

It is difficult to say whether players' gains or losses represent a redistribution of wealth. But considering that. That 99% lose money over the long term, all these funds go over time to casinos and bookmakers. This process is predominantly one-way - from players to casinos. There is a flow that goes from the casino to the players - but it is a very small flow. The idea that winning at a casino might be a form of wealth redistribution can only really come when one is at their most optimistic.

True, and one thing I will say that if only the majority of gamblers knew about this fact then in my opinion it would be unlikely for them to maintain their intentions and goals of earning in gambling, because after all it is clear that the name of the business certainly has the intention and purpose to get a lot of profit, and if we talk about the gambling business then yes of course the casino benefits from the majority of losing gamblers, or simply put the more gamblers who lose (due to acting impulsively) the greater the casino's profits.

Basically, yes, as you said, it is true that gambling is also the same as other businesses that we know,  there is no significant difference with business in general, and maybe the difference is in terms of the product being marketed, they don't have a product to sell, they just  make a game as an intermediary to get profit from their  business.

I already provided tons of links from actual SEC fillings of the biggest casino, a 90% loss on the players would mean everyone, every single player would enter with $100 and exit with $10. If we talk about sports book you would need a ratio of 19:1 to bet on the losing team (since the winner would double his money) which is nearly impossible!


No, because just as with shops or other examples, signature campaigners provide a service for which they get paid, in gambling there is no economic activity between the players, you pick a number or a team and you either lose or get money!

You are right; however, gamblers are not always poor even though the majority are average, there are rich gamblers as well, and casinos get a lot of profit from such gamblers. Imagine a rich gambler, having millions of dollars, getting addicted to gambling, and spending hundreds of thousands of dollars each month in a casino, that casino would earn more money from a single gambler than they earn from all average gamblers combined.

However, this isn't always the case, but if we talk about wealth distribution, it is true that the wealth goes from some people to some others, especially the employees of the casinos who get their salaries from the money that the casino gets from gamblers who are either rich or poor. That's how the cycle of life works.

Casinos are not charities. They are in it for financial gain. And thats alright. The issue is, too many people enter a casino believing they will be the next big thing. They arent. So, what do we do? We speak the truth to them. We teach them the odds. We demonstrate for them the workings of the games. To inform people, not to frightish them away. That is how we give them power. To equip people with the knowledge required for wise decisions.

Im a businessman. I am in love with closing a deal. And the best deals are the ones where both sides feel like they're winning. In gambling, we require a more fair, open playing field. Both commercially and for the consumers, it is beneficial.

Many people getting into gambling with high hopes need to understand this thing. They expect way too much from something which is based on luck and the higher possibility in it is that they are going to lose their money eventually, but they still don't get it.

I have seen people trying to get some money from somewhere so that they can use that money for gambling and earn more money with it, and I've always been telling them to not make that mistake because they are only going to lose the money and get nothing at the end.

Some people think they can make money from gambling if they have a large bankroll but it's nothing more than a myth.

I mean signature campaigners are the closest example of the gambling wealth redistribution you mentioned in this thread. Signature campaigners are common people trying to make extra bucks on the internet, but not by gambling with their own money, rather they are working for the gambling industry and being paid for the propaganda they execute for casinos.

Money lost by whales at gambling games allow online earnings opportunities like signature campaigns through that "wealth redistribution".

From what I have read for many years, most people have lost at gambling compared to the people who have won. see this article for example:


source: https://www.investopedia.com/financial-edge/0910/casino-stats-why-gamblers-rarely-win.aspx

Gambling is supposed to be seen as fun, when people are gambling, they cannot create expectations that they will make a profit, because the chances of them making a profit are very low. You can test this yourself, take part of your money intended for fun, money that you can afford to lose and then play in a casino, do this for 3 months, and after 3 months take stock of all the money you have. used to gamble and how much money was left in your casino account after 3 months. You will see that in your casino there will be nothing. but there's nothing wrong with that, because games are meant to be seen as entertainment. When you take $100 and spend it on the beach, the $100 doesn't come back, the $100 doesn't increase. It's the same thing as when you put 100$ in the casinos, on the beach you won to have fun, at the casino you also won to have fun


Those who lose the most are poor people. Think about this scenario:

A person works in a company, earns $1000 in salary, at the end of the month pays all the bills and keeps $200, takes $50 and puts it in the bank. Every month this person saves 50$ in the bank, takes the 150$ and divides it for all the things related to the fun they want to do. This person plays with 50$ every month, once a week with 12.5$. There is $500 in that person's bank account

another person owns 5 companies, makes profits of $100,000 a day, makes profits of $3 million a month and when she pays all her bills she has $2 million, her bank account has more than $300 million . This person plays in casinos every day with 1000$ and loses every day, this person travels constantly, this person eats very well, this person is having fun every day.

Look, the poor person who earns $1000 a month, plays only once a week and has little money, works hard every day, has little time to have fun and at the end of the month his bank account goes up a little, but look In the case of the rich man, he has 5 companies, he gambles every day, he loses every day, he has fun every day and at the end of the month his bank account goes up a lot. rich always earn more


No, no chance of that being possible

Like I once said, the wealth distribution circulates to a very wide range of people. Gambling is a huge industry, even footballers earn from money made through gambling. Musicians like Drake is also an audible example. The money is been allocated to individuals according to the services they render to the casino. Including those who work directly with the casino. The forum benefits from the wealth made through casino. But, this time it's more of a service rendered, including those mentioned above like Drake does for Stake. Gamblers on the other hand, lose out on the expectation to win. Nothing strange about your thoughts it's valid I guess.

Give it a time and they will learn their lessons the hard way. As it is none of your business to interfere somebody else's betting activities, you are only left to give a piece of advice if the person asks you. But if not, better leave them alone, In their own time, they will realize their own shortcomings when it comes to this addictive activity.

It is no surprise why every gambler has such target, to win or go home big. I believe, it is everyone's target, but how you contain yourself in front of the games will be your advantage from others. If you can stick to your limits and not follow the temptations, then, thank yourself as you won't be in trouble with this habit.

I don't think any individual will start gambling with the mindset that he wants to redistribut his wealth. Everybody is looking for who they can make more wealth and this is the reason many individual are gambling. They get angry when they lose as they don't want to lose money but to make more money. I gamble for entertainment but I didn't throw away money just to give it to another individual.

More of the time it's the sportsbook and casino that makes the most money not other gamblers. If the casinos makes the most then we aren't distributing wealth when gambling but only making the owners rich and they'll keep taking from us since they have workers to pay and other expenses. They too have to make profits therefore they'll want to make more money from us by making us to gamble more with advertisments.

People are not going to realize just how much harmful gambling is until they themselves experience any kind of losses. They are winning until they are not.
Even though it’s not my money I feel extremely stressed when someone does that. That’s definitely an easy way to lose all of your money. It’s even worse if that money was made from hard work alone.

Wheter you rich or poor the casino owner has the huge benefit here because no matter whether you win or lose the casino is still win and according to your thread he gets cut of 5% on each win to pay salary and etc, this 5% is just part of gambling business and I don't think is wealth redistribution. Because that was the whole of the gambling ecosystem.

The right thing is Gambling is part of the economic of an country and I would consider this very true company sites hire employee and pay taxes to government etc.

Indeed, most gamblers are those who gamble because they want to make money, but with them like that, of course they will not be able to accept that the money they bet is lost, it is likely that they will feel annoyed when the money they bet is lost in gambling and that can make they take big risk actions that will get them into gambling and big losses that cannot be avoided. Apart from that, there are people who think they can get rich by gambling because there are wins that can be obtained easily and quickly, but unfortunately it's not like that, because winnings at gambling are not easy to get and are not certain. so it is impossible to gamble to distribute wealth.

with those who have the role of host, of course they are aiming to profit from the large number of people gambling, there is no certainty that players can beat the house. Even though there is some gambling that requires skill to be able to do it, this does not guarantee that they can beat the host who has a greater chance of winning than any other player. Those who think they can get rich by gambling will only make themselves miserable.

Yes, the sad thing is that not many gamblers understand the true concept of gambling, or that means they don't understand what exactly the purpose of the casino is to create a game, and all they know is "the chance to win", that's what they always remember, so over time indirectly when someone is too focused on one thing then they will create various illusions and beauties related to it, as you say that they think or assume that they will be able to become a big man by engaging in gambling, even though it is clear that overall only casinos have the advantage to gain more profits from gamblers.

Therefore, this is why we always advise anyone, especially beginners, to first understand what they are actually doing. Because only by having the right understanding will they be able to make various decisions that are in accordance with their abilities, while when someone only sees from one side such as "chances of winning" then obviously they will not have any preparation to minimize other possibilities that can never be tolerated such as risk.

I'm sure those of us who have experience playing gambling have been in that position as beginners and of course there is a lot of experience that is always shared on this forum and we are always reminded to beginners that gambling is not just to make money, let alone a place to find instant wealth, it is It's clearly impossible because that's not the real concept of gambling because what they see is not the same as the facts, usually beginners who come to gamble are not fully aware of the risks because they are influenced by those closest to them or see influencers, let alone streamers.

So all gamblers will indeed end tragically if they cannot control themselves properly and have full awareness that gambling is a game full of risks, so don't just look at it from the perspective of "Chance of winning" it is very old fashioned if you look at the chance of winning because not everyone people can continue to win at gambling too, the point is that before gambling, every beginner apart from having to learn to control themselves, they must be able to have an awareness within themselves that gambling is full of risks so that gambling must use money that is ready to be lost so that undesirable things don't happen when they lose.

The important thing about this is that There is taxes being paid to the government in order for it to have an impact in this situation. It is not weird in a way that it is, but it’s still mostly going to the rich people who owns the casino. I think that’s always the case with the house, but at least there are some people who get paid because they are working there.

Is there something that you are looking for maybe a direct contact to the benefactor, OP?

I might see it from that angle too because gamblers hit high gain and they can use that amount won to change their social stratification in the society therefore gambling can be used as a means of wealth distribution in the society. Though all depends on the angle the individuals also see it from. Though the gamblers that lose daily are more than the ones that wins yet those who are happy and most of them and most the unaddicted ones utilize the winning to do well. So it is a means of distributing the wealth to the lucky ones. Because even the palliatives the government is sharing to is only the lucky ones received. The wealth itself it is for the lucky ones.

As far as I am concerned those who are lucky build wealth from gambling but must know how to control themselves. Even if there are many possessions, it is seen that the lucky person loses everything. Gambling can also be a strange way of redistributing the climate because an individual will never bet if social conditions are not good. There are risks involved in gambling. It is seen in many gamblers who feel good about gambling and lose their last bit of money.

If within 24 hours, the percentage of gamblers playing at the casino is very high with the highest bet to the lowest bet, then the casino owner's income will be very large. Only a small percentage of revenue is used to pay staff and workers in certain fields. Now. In this case, all areas of business will do the same thing, but the gambling business is currently the most effective in my opinion for gaining wealth.
The question is, is the legal aspect ignored?

There are some people that I know in my area that using gambling to survive but it is not easy for them because they are not winning everytime. But if they win but for like $100 and above they would use it to buy all the food stuffs in the house and keep one percent to gamble again in the following day and if they lose, it would not bother them again because they have already stocked their houses with food stuffs which can last long for some times and if they win within the period planned for thr items, they would give woman who sells those stuffs some amount of money so that when the once in thr house has finished then they would go and collect again.

Personally I have seen gamblers or people who are purely depending on gambling to survive.

I wouldn't say it's wealth redistribution, but it's more like an economy circulation.

You spend money to buy groceries, you make the owner rich.
You spend money to buy phones, you make the owner rich.
You spend money to watch cinemas, you make the owner rich.

As long as someone spend their money to buy something, they help the economy circulated instead of stagnant. So, it's not only in gambling, but what you and everyone do are same, you take a part to grow the economy.

Yes, because at first I was also a beginner who did misunderstand how gambling actually was so that in the end I experienced addiction, but thank God I managed to recover by using the methods I created myself, in conclusion, more or less I know enough about the various things experienced and felt by gamblers who have entered the addiction cycle, And one thing I will always advise all gamblers, especially those beginners, to first have the right understanding of how gambling is actually, because understanding is the main key to being able to stay safe in gambling, in the sense that by having the right understanding, it is less likely for a gambler to take various actions that are beyond his ability.

On the other hand, as you said, the initial mistake of beginners is thinking that they will be able to get a lot of money, or think that gambling can make them a rich man, when obviously it is nothing more than a delusion, because the reality is quite the opposite, simply put, instead of earning but what happens is that they lose money in the long run. In essence, there is nothing else I would say and suggest to beginners other than to first understand what gambling is really about, in the sense of understanding that gambling provides a winning opportunity to multiply their money but along with realizing that gambling can lose them even greater amounts of money. This is a neutral point of view that can prevent them from making impulsive actions and decisions.

It could be but not all the time because the losers most of the time are ordinary people, and the only winner here is the house.
This could be a money cycle as the number of gamblers reflects the volume of the money though the only difference is the amount of it. Rich people also make money from ordinary people, and how can you distribute wealth where most of the winners are rich people and the losers are the one who don't get that much.

the situation is terrible when the player is already driven into the system. In this situation, the casino will be more profitable since system players bring more profit in the long run. What is most interesting is that such players perceive the game as a job and a way of life and therefore it is even stronger than an addiction.