THE POOR RISKS LITTLE TO WIN BIG WHILE THE RICH RICKS BIG TO WIN LITTLE

[tread93]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000 

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

There is no getting rich quick for most gamblers. Its mostly just get poor slow 😆.  The long game is where its at. If im gambling I like an educated guess element where there is research involved and it's not just pure chance. Most schemes to get rich are just that. Schemes. Gambling is entertaining and not something that should be used as a means to get rich. If youre not having fun then you should probably stop.

[junder]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000 

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

I believe the rich have a greater chance of winning because they bet larger amounts. However, even if the odds are 90%, that doesn't mean they'll definitely win, right? They still can't beat the bookies, who have their own rules that dictate that players win only by luck.

Some say gambling is a game for the rich, but a serious one for the poor. This is quite clear, as most poor people gamble with the full hope of winning.

[Dave1]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000 

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

Well isn't it obvious though that the rich has a lot of money that's why they can take that big risk and won big as well? So I don't know what's the point of your argument here as I can't find any out of it. And even if with that kind of odds though, there could be some whales losing.

https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/

One bettor wasted a massive $1.4 million wager after betting on Los Angeles before the Jaguars mounted an epic comeback to beat the Chargers 31-30,

So there is no secret sauce in gambling, yeah you might have the advantage if you have a lot of money. But still you forget one element and that is luck. So if you are a big whale and goes by that kind of mindset of betting with the favorite and with small odds, it might not work for you all the time.

[Bluedrem]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000 

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

In gambling, whether rich or poor, gamblers are at the highest risk of losing money in most cases.
As you said, a rich person can afford to bet a lot at once and even if he bets a low percentage, his profit is much higher.
For example, you said_
For a rich person (10,000×1.2x)= $11,000
That is, he will win $1000 in the bet. And you see that his probability is 90%, that is, if he bets 100 times, he will win 90 times.
So if he wins $1000 in a bet, he will win 90 times = 1000×90=$90,000.
The remaining ten bets will be lost, that is, his loss (loss) will be (10,000×10)=$100,000
In this case, profit<loss, that is, the rich person will also lose.

Again, what you said about the poor,
If he bets $5 and wins 1000 times, that is, (5×1000x)= $5000, in this case, the bettor will make $4995.
But what you said is that in this case, the probability of winning in 100 bets is only ten. In that case, he can win in ten bets (4995×10)=$49950
If he loses in the remaining 90 bets, his total loss will be (5×90)=$450
Then, in 100 bets of poor people,, loss<profit

In this case, it is seen that even though poor people gamble with less money, they have a higher chance of winning or making money in the end. But in reality, this does not happen because when a poor person loses money in two or three bets, he cannot control himself anymore, and like the rich, he also gambles with a much larger amount of money.
So whether a person is rich or poor, in most cases, if they gamble, both lose their money.

[Shinpako09]

Imo, the proverb “the rich get richer and the poor get poorer” doesn’t really apply in gambling. Whether you’re rich or poor, the odds remain the same. The only difference is that the rich can afford higher bets. So, if they win, say $100, it’s achievable for them because they have the means to stake more. For the poor, winning in gambling is already hard, but turning a few bucks into $100 is even harder. But at the end of the day, most of the time, the casino always win, whether you are rich or poor.

[maydna]

The get rich quick mentality is killing all people. That is right because if they can not treat gambling well, they will get deep into gambling without seeing the way out. They will not stop chasing the win even if that means they will use more money. We see that from many people, especially the poor believe that gambling can give them much money.

The chance to get rich will be the same for rich or poor people. But rich people usually know that gambling can make them bankrupt so they will not spend too much but only some to have fun. But the poor will not realize the risk because they want to make money from gambling. But if the poor can realize the risk, they will manage the risk and not just gamble to chase what they want.

[Strongkored]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000 

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

In gambling with the example odds you mentioned, it could also be that The rich go bankrupt faster while the poor remain poor.
With low odds in 10 bets, there is a chance to still lose, and just 1 can be enough to drain the profit, and 2 times even if more then it becomes depleting capital
So don't think that low odds are a guarantee of profit, and the high odds guarantee loss because gambling still has unpredictable factors.

[Cantsay]

This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

First off, how did you do your calculations? That gave you 10% chance of a gambler who isn’t rich winning a thousand odds? The probability should even be lower than 0.01% when calculated.

And another thing, if we look at it from the risk perspective, you could say that the rich have more at stake here because since gambling isn’t something you can predict the outcome correctly then it means that they’d lose more than what a poor person would lose to the casino. So if a casino is to choose between a wealthy gambler or a poor one who do you think they’d go for? It would definitely be the wealthy punter because they’ll play with larger amount and lose more to the casino than what they’d actually win.

[Bitcoin Smith]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000 

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

Even if you have 99% of winning a bet still you can't rule out the remaining 1%. Let me give you a real example why your logic is flawed when it comes to gambling.

Please read this : https://x.com/darrenrovell/status/1614603901021437954

Someone wagered 1.4 million dollars on a game with odd about 1.008x odd and ended up losing it. Gambling is a place where rich can become broke overnight and also a broke can become rich overnight, that is what the primary reason why gambling is something that doesn't fade away even if we do that for very long time.

[LUCKMCFLY]

That doesn't always happen, I know of cases where people who are poor risk Everything and lose Everything , leaving them worse off than before So, in light of these things, Instead of solving Something, they make it worse That's why the game should be seen for what it is as a Game , not as a way to get rich.

[terrific]

Even if I am rich, I am not confident with the 1.01 odd. Why? because I've seen a million bet with that IIRC, on a boxing match.
And then, that person still lost that match and that money gone away. That's why there is no confidence whether you're rich or poor in gambling.
But there is an advantage for the rich to keep on going because they've got larger funds. And not the poor because they have to save money for them to gamble once again.