Why the rich win gambling more than the poor.

[Fivestar4everMVP]

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.

I completely agree with you, the Rich are more advantaged when it comes to winning in gambling, and it's all for the reasons you have mentioned, and I also believe this is why it is often said that the rich keep getting richer while the poor keep getting poorer, if we are to analyze this statement, we will discover that the poor doesn't get poorer because they are lazy, in fact, some poor people even work way harder than the rich people, but unfortunately, their hardwork pay them so little because they don't have money and also do not know to make their money work for them.

The rich have the money and are open to any form or challenge, opportunities, but the poor man will see opportunities and let it slip away because he has not the financial means to take advantage of that opportunity.
In gambling, opportunity sometimes show up, which the rich already having the financial means, take advantage of it to increase their networth, meanwhile the poor may come across same opportunity, manage to bet only $5 dollar, and at the end of the day, win maybe $50 and that money will be spent on nothing else than food.

This is why being a poor person is one of the most difficult thing in the world we live in today, because even in gambling, the poor seem to lose more often than the rich, why? Because what the rich win in one game, the poor might have to bet a thousand times or more, to win in total - such amount, this is if he or she is even lucky.

[rachael9385]

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.

I completely agree with you, the Rich are more advantaged when it comes to winning in gambling, and it's all for the reasons you have mentioned, and I also believe this is why it is often said that the rich keep getting richer while the poor keep getting poorer, if we are to analyze this statement, we will discover that the poor doesn't get poorer because they are lazy, in fact, some poor people even work way harder than the rich people, but unfortunately, their hardwork pay them so little because they don't have money and also do not know to make their money work for them.

Mate you guys are right, the poor people are working harder everyday just to make sure they gets what they want while the rich are the most smartest people I have known so far because they work in a smarter ways and they also think outside the box. Now let's think about this, if a rich gambler predicts a game of 2 odds in total, they put millions on in, (lets say for example) they wager $5M on the game so that they can be able to win at least $10M, but for the poor gamblers, they don't have much money so when they want to bet they make sure to predict more than ten games with bigger odds, so they wager from $50 downward, and out of 10 games 1 might cut the while games. But the rich gamblers are smart enough to know that they accumulate more games the more privilege for the game to cut.

The rich have the money and are open to any form or challenge, opportunities, but the poor man will see opportunities and let it slip away because he has not the financial means to take advantage of that opportunity.
In gambling, opportunity sometimes show up, which the rich already having the financial means, take advantage of it to increase their networth, meanwhile the poor may come across same opportunity, manage to bet only $5 dollar, and at the end of the day, win maybe $50 and that money will be spent on nothing else than food.

The rich don't care about anything that has risk because they know that the more they risk they make more, the rich believes that without any risk there is no rewards, so they risk their money on things they know that they might be privileged of cashing out even if to get back their main capital. It's only a rich business man that will risk his money on something that he hasn't seen because he believes that he started from crash, and anyone who started from crash have seen a lot of things and they also know how to manage their risk when they lose.

This is why being a poor person is one of the most difficult thing in the world we live in today, because even in gambling, the poor seem to lose more often than the rich, why? Because what the rich win in one game, the poor might have to bet a thousand times or more, to win in total - such amount, this is if he or she is even lucky.

Yes exactly, being poor is a very difficult thing because you won be able to communicate in som placeses that is well organized. Just as some night club are, if you are not well dressed and looking sharp you won't be able to enter inside because the bouncers outside will bounce you out. Money is almost everything in the world we live in today. Even if I haven't seen any, I believe that there are some casinos that won't allow someone who's broke to enter inside because the broke gambler won't gamble enough money.

[Ojima-ojo]

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 risk level of the rich and the poor is not the same and also in gambling those that have alot of money to play around with have higher chances of winning because winning always comes in between the line of the risk taking.


But when you talk about the number of loses that are encur between both you still have the same way higher loses by rich since they take more chances in Staking.

[Lidger]

Rich people have enough financial backup so that if they lose a lot of money in a gambling game, they can gamble twice as much again, so that they lose twice the amount they lost in the previous gambling game. Money can profit. Although there are such facilities in the case of the rich, but in the case of the poor, they do not have such facilities because the poor do not have financial solvency, that is why they are poor. When the poor gamble, they will have a certain amount of money to gamble with, and when they lose, they will not have the money to gamble later. In that case, even if there is a chance, they will not be able to gamble later and they will not be able to recover their previous losses. This difference in money is what makes the difference between rich and poor gamblers.

The thing is that a rich person can only gamble more money, but the odds are the same.

Since the expected amount is negative, the rich person will simply lose more money than the normal person.

If a rich person was able to generate more money than what they gamble, then by definition the normal person would also win more than what they gambled.

Think of it as a multiplier. If the person loses money gambling, the rich betting more will lose more.

In this case, it can be easily said that both are taking the maximum risk of money from their respective positions and both are satisfied with their position by taking the maximum risk of money. If one person has a total of ten dollars and the other person has a total of one dollar, these two people will gamble based on their money. I have a dollar I used 10 cents to gamble and using 10 cents I gained 10 cents but my total wealth is 1.1 dollars. On the other hand, the one whose total wealth is 10 dollars used one dollar for gambling and by using one dollar he gained another dollar, but his total wealth increased to 11 times. In this case, two people are satisfied from their respective positions. So you have to try to match these things depending on your total amount of money.

[nullama]

~snip~
In this case, it can be easily said that both are taking the maximum risk of money from their respective positions and both are satisfied with their position by taking the maximum risk of money. If one person has a total of ten dollars and the other person has a total of one dollar, these two people will gamble based on their money. I have a dollar I used 10 cents to gamble and using 10 cents I gained 10 cents but my total wealth is 1.1 dollars. On the other hand, the one whose total wealth is 10 dollars used one dollar for gambling and by using one dollar he gained another dollar, but his total wealth increased to 11 times. In this case, two people are satisfied from their respective positions. So you have to try to match these things depending on your total amount of money.

Yeah, fair enough, you can compare what the rich and the poor have outside of the gambling allocated money.

There is clearly a difference there.

But also, the rich person already is rich, by definition, so there is less incentive to play at casinos.

[nara1892]

Are there any statistics that can be used as evidence that the rich can win more than the poor? If not, then I will stick to my own rational belief that if we talk about opportunities then rich or poor have the same chances whether it is in terms of winning or losing, I'm not saying about the amount they will win because there is clearly a difference in budget allocation here where the rich may put the amount of $1000 in one bet while the poor only put $100 which means that if the two people are lucky then there will clearly be a difference in the amount of victory between the rich and the poor.

But that's not the point, the size of the budget at stake is in no way a guarantee of winning which means the rich can lose and the poor can also lose, so I think the issue of who will end the session with a win more often depends on how often they get lucky.

[Bravut]

Are there any statistics that can be used as evidence that the rich can win more than the poor? If not, then I will stick to my own rational belief that if we talk about opportunities then rich or poor have the same chances whether it is in terms of winning or losing, I'm not saying about the amount they will win because there is clearly a difference in budget allocation here where the rich may put the amount of $1000 in one bet while the poor only put $100 which means that if the two people are lucky then there will clearly be a difference in the amount of victory between the rich and the poor.

But that's not the point, the size of the budget at stake is in no way a guarantee of winning which means the rich can lose and the poor can also lose, so I think the issue of who will end the session with a win more often depends on how often they get lucky.

As you have said, the only difference is the amount staked. I believe even that some poor ones understand money management and also limit how they gamble, this believe or comparison is weird. It doesn't really matter both group loss and wins, same chance available, same game gambled.

Let's leave social class out of gambling, both rich and poor loss based on there level. Mehnn the the level of detestment poor people face keep increasing, no fact, record or proof to show, one will just conclude the poor loss more.

Gambling is a fair game with probability, anyone can win and individual variation is present irrespective of the class. So concluding is wrong.

[White pawn]

The rich people source of income are not gambling, they are only having fun with gambling, but the poor are not having fun with gambling but to to win is what they want. Which means the rich people are not desperate when it comes to gambling unlike the poor that want to hit a jackpot.
[/quote
You can say that again please The rich most times gamble for fun,they gamble to develop more cognitive skills that'll pertain to thier emotions towards making bigger approach and transactions.

Rich people are advanced with managing risks and  using strategies that makes it possible for them to absent of failures .
Mmm

[Lidger]

~snip~
In this case, it can be easily said that both are taking the maximum risk of money from their respective positions and both are satisfied with their position by taking the maximum risk of money. If one person has a total of ten dollars and the other person has a total of one dollar, these two people will gamble based on their money. I have a dollar I used 10 cents to gamble and using 10 cents I gained 10 cents but my total wealth is 1.1 dollars. On the other hand, the one whose total wealth is 10 dollars used one dollar for gambling and by using one dollar he gained another dollar, but his total wealth increased to 11 times. In this case, two people are satisfied from their respective positions. So you have to try to match these things depending on your total amount of money.

Yeah, fair enough, you can compare what the rich and the poor have outside of the gambling allocated money.

There is clearly a difference there.

But also, the rich person already is rich, by definition, so there is less incentive to play at casinos.

A rich person who has a gambling habit wants to increase their net worth and they use their current money to get big jackpots. And those who are poor, especially those who are involved in gambling, want to change their financial situation a little. But in my opinion those who are vagabonds but poor are too lazy to work and instead of work they want to change their fortunes by gambling. By not working, they put pressure on the family for money and when the family refuses to pay for their gambling, the gambler abuses the family in various ways. But a person who works hard and has enough love for money will never be careless in gambling but he will think about gambling and then gamble.

[nullama]

~snip~
A rich person who has a gambling habit wants to increase their net worth and they use their current money to get big jackpots. And those who are poor, especially those who are involved in gambling, want to change their financial situation a little. But in my opinion those who are vagabonds but poor are too lazy to work and instead of work they want to change their fortunes by gambling. By not working, they put pressure on the family for money and when the family refuses to pay for their gambling, the gambler abuses the family in various ways. But a person who works hard and has enough love for money will never be careless in gambling but he will think about gambling and then gamble.

A rich person that wants to increase their net worth will not gamble their money away.

I can guarantee you that. Just ask a rich person.

Not a poor or middle class person, but a rich person.

They will tell you that gambling is a waste of time.

[nara1892]

Are there any statistics that can be used as evidence that the rich can win more than the poor? If not, then I will stick to my own rational belief that if we talk about opportunities then rich or poor have the same chances whether it is in terms of winning or losing, I'm not saying about the amount they will win because there is clearly a difference in budget allocation here where the rich may put the amount of $1000 in one bet while the poor only put $100 which means that if the two people are lucky then there will clearly be a difference in the amount of victory between the rich and the poor.

But that's not the point, the size of the budget at stake is in no way a guarantee of winning which means the rich can lose and the poor can also lose, so I think the issue of who will end the session with a win more often depends on how often they get lucky.

As you have said, the only difference is the amount staked. I believe even that some poor ones understand money management and also limit how they gamble, this believe or comparison is weird. It doesn't really matter both group loss and wins, same chance available, same game gambled.

Let's leave social class out of gambling, both rich and poor loss based on there level. Mehnn the the level of detestment poor people face keep increasing, no fact, record or proof to show, one will just conclude the poor loss more.

Gambling is a fair game with probability, anyone can win and individual variation is present irrespective of the class. So concluding is wrong.

Of course because I think that's the only difference between rich gamblers and poor gamblers which is that they have a difference in the amount of budget they bet so there will certainly be a difference in the amount they win, but this is not the point, the question is that it is said that rich gamblers win much more often than poor gamblers, what is the reason for this? I don't think it's right to say that because if we talk about gambling then it is clear as we understand that everyone has the same chance.

Yes we have to remove the social aspect if we want to find the right answer about this, and the point is that rich or poor still have the chance to win and they also have the possibility to lose, there is no reason whatsoever to guarantee that one is superior to the other, as you said that gambling is a game of probability which means a game of "possibility", whoever is involved will end the session with one of two possibilities between winning or losing.

[Onyeeze]

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.

sometimes if the appears to me that they reach people always try opportunity of getting more rich because them mentality is different from purpose why the Paul always like to protect whatever they have already so that is the difference between a rich person that is into gambling and a poor person that is into gambling the comparison is really distance because a rich person we have the momentum of buying lock why the poor person cannot summon such courage to at least that way like much or for his income or he's savings in respect of gambling

[Wakate]

~snip~
A rich person who has a gambling habit wants to increase their net worth and they use their current money to get big jackpots. And those who are poor, especially those who are involved in gambling, want to change their financial situation a little. But in my opinion those who are vagabonds but poor are too lazy to work and instead of work they want to change their fortunes by gambling. By not working, they put pressure on the family for money and when the family refuses to pay for their gambling, the gambler abuses the family in various ways. But a person who works hard and has enough love for money will never be careless in gambling but he will think about gambling and then gamble.

A rich person that wants to increase their net worth will not gamble their money away.

I can guarantee you that. Just ask a rich person.

Not a poor or middle class person, but a rich person.

They will tell you that gambling is a waste of time.

We cannot suddenly agree that the rich are gambling than the poor. We need to be wise and make a decision that will help us win more nit trying to do it by all means. The rich can make huge profits from a single game where other are making some profits. The rich can decide to gamble with huge amount of money and we need to understand the differences. It is true that their are some rich people that gamble more than what they supposed but that does not mean that the rich are gamblers. Once we understand the differences why the rich will keep making big profit and the poor will keep making smaller profits.

[nullama]

~snip~
We cannot suddenly agree that the rich are gambling than the poor. We need to be wise and make a decision that will help us win more nit trying to do it by all means. The rich can make huge profits from a single game where other are making some profits. The rich can decide to gamble with huge amount of money and we need to understand the differences. It is true that their are some rich people that gamble more than what they supposed but that does not mean that the rich are gamblers. Once we understand the differences why the rich will keep making big profit and the poor will keep making smaller profits.

It doesn't really matter how much the gamble amount is. All that matter is the odds for the bet.

The amount you get paid back (or you lost) is simply a multiplier of this.

So, it doesn't really matter if someone bet 1 cent or 1 million dollars, the odds are the same, and the payouts are proportional to this.

So, if you can make 1 cent while gambling, you should be able to become a millionaire gambling.

[Ram44]

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.

I believe there is a single pattern here. More affluent people have more money that they can fill, for example, a slot that will give a win sooner. If you take all gambling in general, the rich win more often just because they play more and for bigger amounts. I am 100% sure that not a single rich person who gambles a lot has ever come out in the black. These are big losses, but they won't hit a rich person. The rich man is all about the dopamine release when he wins, while the poor man wants money and thinks that this win will change his life for the better.

[Onyeeze]

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.

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

then I know in gambling is that it has a spirit and when you are a participant of gambling there's nothing we make you two differentiate yourself in gambling so if you person who Gamble the participating in gambling because of the amount of money they have in their pocket so you Can Bet higher amount based on your income weekly or monthly why some people to bet based on they want to win and they will use big amount so rich people strategize well before then Gamble while poor people does not take a strategies before them Gamble

[kotajikikox]

~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

that's it mate, just wondering what would be the difference aside from the amount of bets and wins capable of rich to poorer but about the result is the same , if the poor can win 5x in a row then the rich can do the same .
if the rich can lose 10x in a row so the poor can experience the same.

[Obari]

The rate of winning in gambling depends fully on the amount you use in staking the game,if you stake the game with a small amount,the money you will win won't be big,but you you stake it with a huge amount,the outcome will be one that will surprise you.And why the rich win more is simply because they don't play much games,they only play a little few they know it will play for them,and stake it with a very huge amount,this will increase their chances of winning.
But you that do not have much money,will look for a very long game,and stake with with small amount,which even if the game would have played,the longevity of the game will make some cut.

[nullama]

The rate of winning in gambling depends fully on the amount you use in staking the game,if you stake the game with a small amount,the money you will win won't be big,but you you stake it with a huge amount,the outcome will be one that will surprise you.And why the rich win more is simply because they don't play much games,they only play a little few they know it will play for them,and stake it with a very huge amount,this will increase their chances of winning.
But you that do not have much money,will look for a very long game,and stake with with small amount,which even if the game would have played,the longevity of the game will make some cut.

There's no such thing as increasing their chances of winning.

The poor and the rich have the same chances of winning.

Imagine a coin toss, a rich person goes for heads and the poor person goes for tails.

They both have 50% chances of winning, independent of how much they bet.

[HelliumZ]

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

Those who are wealthy are not primarily in financial trouble and do not engage in gambling for money or, even if it is for money, do not usually face a situation in which they would control or stop themselves from gambling if they face gambling losses. Because they don't have financial problems, they don't feel any problem or ricks in gambling. On the other hand, those who are poor mainly gamble for moneyAnd if they fall into financial crisis for any reason, they are forced to refrain from gambling. Or poor gamblers cannot participate in gambling or are forced to abstain. In this case, it is easy to assume that since a rich gambler does not feel reticent to gamble, he must be more likely to profit from gambling than a poor gambler.