Why the rich win gambling more than the poor.

[Odohu]

By the way, the poor have an advantage: they always keep themselves under control, because if this does not happen, then the poor person simply does not sing the next day. And the rich don't control themselves that much.

I don't really agree with you that the poor have advantage in this case. There is something you seem to be missing and that is the fact that the money the poor gamble with which you might consider small is actually like the "widow's might", I mean something very huge for them. You night see someone gambling with $10 which ordinarily appear like small amount, but in reality, this might be like $100k for the person. Furthermore, the poor gamble with the mindset of ending their poverty through gambling, and this makes them make emotional decisions. Whereas the rich might just be gambling for fun because they have other means of meeting their needs, so their emotions are not that engaged in the gambling and their decisions are clear, without any external inducement. The poor truly perform badly in gambling than the rich.

[Jody.Drummer]

By the way, the poor have an advantage: they always keep themselves under control, because if this does not happen, then the poor person simply does not sing the next day. And the rich don't control themselves that much.

I don't really agree with you that the poor have advantage in this case. There is something you seem to be missing and that is the fact that the money the poor gamble with which you might consider small is actually like the "widow's might", I mean something very huge for them. You night see someone gambling with $10 which ordinarily appear like small amount, but in reality, this might be like $100k for the person. Furthermore, the poor gamble with the mindset of ending their poverty through gambling, and this makes them make emotional decisions. Whereas the rich might just be gambling for fun because they have other means of meeting their needs, so their emotions are not that engaged in the gambling and their decisions are clear, without any external inducement. The poor truly perform badly in gambling than the rich.

Yes the perspective on the value of money is involved in this issue between the poor and the rich, and certainly as you said that the amount of $10 for the poor is very large, or maybe they think that it is an amount that can sustain their lives for the next few days, while for the rich it is a meaningless amount, meaning that the poor and the rich have a different level of concern and perspective on the value of money, and it happens because it is clear that they are in two different situations in life especially in terms of financial circumstances.

And also yes I quite agree with you that it is very likely that poor people are very likely to misunderstand gambling, most of them will probably think that gambling is the right place or intermediary to get away from poverty, one of the reasons is because when someone is experiencing pressure from financial or economic problems in his life, it is not uncommon for them to even resort to all means just to get money even though their actions are fairly absurd. As for the rich, I also agree with you, I don't follow your idea but it does seem very reasonable, because the rich have many ways to get money so that they can turn their lives into rich people, and one of the reasons why they can become rich people is because they have a different mindset from poor people which in turn makes them have various useful ways to accumulate wealth to eventually become rich people, meaning that I believe that it is unlikely for rich people to make gambling a place to earn, because there is no certainty and any guarantee in terms of generating victory.

[Ruttoshi]

By the way, the poor have an advantage: they always keep themselves under control, because if this does not happen, then the poor person simply does not sing the next day. And the rich don't control themselves that much.

I don't really agree with you that the poor have advantage in this case. There is something you seem to be missing and that is the fact that the money the poor gamble with which you might consider small is actually like the "widow's might", I mean something very huge for them. You night see someone gambling with $10 which ordinarily appear like small amount, but in reality, this might be like $100k for the person. Furthermore, the poor gamble with the mindset of ending their poverty through gambling, and this makes them make emotional decisions. Whereas the rich might just be gambling for fun because they have other means of meeting their needs, so their emotions are not that engaged in the gambling and their decisions are clear, without any external inducement. The poor truly perform badly in gambling than the rich.

Are you trying to say that there is no responsible gambler that is poor, addiction is both for the poor and the rich and it does not consider who you are. The rich will lose more than they poor because they believe that they have more than enough to take care of themselves and that will make them to gamble carelessly.

Will a poor man use his house to gamble, when he does not have a home. The fact is that whoever fails to have self control over his gambling activities to enable him gamble responsible will be addicted and when you are addicted, you can gamble all your bankroll no matter how much it is.

[DaNNy001]

And also yes I quite agree with you that it is very likely that poor people are very likely to misunderstand gambling, most of them will probably think that gambling is the right place or intermediary to get away from poverty

It has been a great notice that the it's difficult to see a wealthy person gamble and loss all his wealth due to addiction, I'm not saying it's not possible but it's rear, and why does it have to be this way? I'll say it's simply because the wealthy has gotten knowledge on wealth management so they are likely to know when to quit or continue in gambling, mind you I didn't use the word rich because, their is a vast difference between a rich and a wealthy person. A wealthy man knows the value of money and acknowledges the process of how it is gotten to keep a sustainable wealth, but a rich man could be a lucky gambler who happens to have won a million value bet, yet he can still go broke by trying to double or make more money of the process of gambling. Majority of poor persons have same mindset as the rich and that's why they often get addicted to gambling.

[piebeyb]

By the way, the poor have an advantage: they always keep themselves under control, because if this does not happen, then the poor person simply does not sing the next day. And the rich don't control themselves that much.

I don't really agree with you that the poor have advantage in this case. There is something you seem to be missing and that is the fact that the money the poor gamble with which you might consider small is actually like the "widow's might", I mean something very huge for them. You night see someone gambling with $10 which ordinarily appear like small amount, but in reality, this might be like $100k for the person. Furthermore, the poor gamble with the mindset of ending their poverty through gambling, and this makes them make emotional decisions. Whereas the rich might just be gambling for fun because they have other means of meeting their needs, so their emotions are not that engaged in the gambling and their decisions are clear, without any external inducement. The poor truly perform badly in gambling than the rich.

That's the difference when poor people gamble, most of them on average want to get out of poverty through gambling so they are more likely to produce lots of gambling addicts, some of us of course know that we rarely see rich gamblers who become addicted to gambling, in fact more of them are gamblers. poor because they have the same mindset, namely making gambling a place to make money and instant wealth, even though that never happens, in fact by gambling the poor remain poor while the rich gamblers remain rich.

If only poor gamblers wanted to change their mindset like rich people, namely considering gambling as entertainment or a place to have fun, of course there wouldn't be many poor people who were addicted to gambling, we often find poor gamblers out there who are addicted to gambling and are in debt with loan sharks, whatever it is. The case remains that poor people will have problems when gambling, while rich people will always be happy when gambling, no matter whether they win or lose, for them it is just entertainment.

[slapper]

By the way, the poor have an advantage: they always keep themselves under control, because if this does not happen, then the poor person simply does not sing the next day. And the rich don't control themselves that much.

I don't really agree with you that the poor have advantage in this case. There is something you seem to be missing and that is the fact that the money the poor gamble with which you might consider small is actually like the "widow's might", I mean something very huge for them. You night see someone gambling with $10 which ordinarily appear like small amount, but in reality, this might be like $100k for the person. Furthermore, the poor gamble with the mindset of ending their poverty through gambling, and this makes them make emotional decisions. Whereas the rich might just be gambling for fun because they have other means of meeting their needs, so their emotions are not that engaged in the gambling and their decisions are clear, without any external inducement. The poor truly perform badly in gambling than the rich.

That's the difference when poor people gamble, most of them on average want to get out of poverty through gambling so they are more likely to produce lots of gambling addicts, some of us of course know that we rarely see rich gamblers who become addicted to gambling, in fact more of them are gamblers. poor because they have the same mindset, namely making gambling a place to make money and instant wealth, even though that never happens, in fact by gambling the poor remain poor while the rich gamblers remain rich.

If only poor gamblers wanted to change their mindset like rich people, namely considering gambling as entertainment or a place to have fun, of course there wouldn't be many poor people who were addicted to gambling, we often find poor gamblers out there who are addicted to gambling and are in debt with loan sharks, whatever it is. The case remains that poor people will have problems when gambling, while rich people will always be happy when gambling, no matter whether they win or lose, for them it is just entertainment.

Sitting comfortably, we can remark, "Hey, just gamble responsibly, it's entertainment!" For someone striving to make ends meet, it's different. Being poor goes beyond being broke. Scarcity, desperation, and hopelessness occasionally prevail. The game is rigged. Casinos are there to take your money. The odds are against you from the outset

Now, telling someone in poverty to think like a rich person is like telling a fish to climb a tree. Not happening. We need a new strategy. Teach financial literacy, budgeting, and saving. Make inexpensive, healthful entertainment. Responsible gambling must be taken seriously. Set limitations, spot addiction early, and get help

[Crypto Library]

Are you trying to say that there is no responsible gambler that is poor, addiction is both for the poor and the rich and it does not consider who you are. The rich will lose more than they poor because they believe that they have more than enough to take care of themselves and that will make them to gamble carelessly.

Will a poor man use his house to gamble, when he does not have a home. The fact is that whoever fails to have self control over his gambling activities to enable him gamble responsible will be addicted and when you are addicted, you can gamble all your bankroll no matter how much it is.

In this point I actually don't understand that by poor gambler and rich gambler what really op want to mean. Because if in this case a poor people who don't have much earning and he faced difficulties to lead a normal life with his family with the small earning and even then he will play gambling that's means he is really an addicted person in this case I will also call them irresponsible gamblers.
Moreover, it is easy to understand that the more money he has, the more he can roll and the more chances he has to win so those gamblers who have handsome amount in their pocket will have more chances of winning than those who have less money in their pocket.

[bubilas]

By the way, the poor have an advantage: they always keep themselves under control, because if this does not happen, then the poor person simply does not sing the next day. And the rich don't control themselves that much.

I don't really agree with you that the poor have advantage in this case. There is something you seem to be missing and that is the fact that the money the poor gamble with which you might consider small is actually like the "widow's might", I mean something very huge for them. You night see someone gambling with $10 which ordinarily appear like small amount, but in reality, this might be like $100k for the person. Furthermore, the poor gamble with the mindset of ending their poverty through gambling, and this makes them make emotional decisions. Whereas the rich might just be gambling for fun because they have other means of meeting their needs, so their emotions are not that engaged in the gambling and their decisions are clear, without any external inducement. The poor truly perform badly in gambling than the rich.

Your point of view has opened my eyes to some things. Indeed, poor people are very worried about their every bet, because their every decision greatly affects their lives, which is why a poor gambler is more likely to fall into a tilt or a rush than a rich player.

A rich man, even when he loses a large sum, can say: well, okay. That's all. For him, losing is not a vital risk, but simply a decrease in the numbers on the deposit screen. Therefore, they are emotionally more resilient.

[Lanatsa]

By the way, the poor have an advantage: they always keep themselves under control, because if this does not happen, then the poor person simply does not sing the next day. And the rich don't control themselves that much.

I don't really agree with you that the poor have advantage in this case. There is something you seem to be missing and that is the fact that the money the poor gamble with which you might consider small is actually like the "widow's might", I mean something very huge for them. You night see someone gambling with $10 which ordinarily appear like small amount, but in reality, this might be like $100k for the person. Furthermore, the poor gamble with the mindset of ending their poverty through gambling, and this makes them make emotional decisions. Whereas the rich might just be gambling for fun because they have other means of meeting their needs, so their emotions are not that engaged in the gambling and their decisions are clear, without any external inducement. The poor truly perform badly in gambling than the rich.

Your point of view has opened my eyes to some things. Indeed, poor people are very worried about their every bet, because their every decision greatly affects their lives, which is why a poor gambler is more likely to fall into a tilt or a rush than a rich player.

A rich man, even when he loses a large sum, can say: well, okay. That's all. For him, losing is not a vital risk, but simply a decrease in the numbers on the deposit screen. Therefore, they are emotionally more resilient.

There's really that significant difference among the two if we do speak about that certain state on the moment that you would be losing up your bet or money in doing gambling. Just like on what you have said that at the moment that you would be losing money as a poor person then impulsiveness and those emotions would really be at peak since you do know that you are poor and you are really that thriving to earn money but ended up on losing on which you would really be needing to work hard more to earn something on what you have lost. Whereas, to those rich people then it wouldnt really be that much of an issue specially to those who do have that kind of passive income then it wont really be that much of a hard situation for some people. There are really just that people who do end up on being that too desperate.

Put up into your mind that even rich people would really be coming into a state that you would really be tending to cope up on what you have lost specially if its already piling up.
We should bare up on our mind that there's no such thing about unlimited fund, if you are keeping on loosing as a rich person and continuously on doing that then one day dont get be shocked
that you would really be the same as those poor people.

[rachael9385]

By the way, the poor have an advantage: they always keep themselves under control, because if this does not happen, then the poor person simply does not sing the next day. And the rich don't control themselves that much.

I don't really agree with you that the poor have advantage in this case. There is something you seem to be missing and that is the fact that the money the poor gamble with which you might consider small is actually like the "widow's might", I mean something very huge for them. You night see someone gambling with $10 which ordinarily appear like small amount, but in reality, this might be like $100k for the person. Furthermore, the poor gamble with the mindset of ending their poverty through gambling, and this makes them make emotional decisions. Whereas the rich might just be gambling for fun because they have other means of meeting their needs, so their emotions are not that engaged in the gambling and their decisions are clear, without any external inducement. The poor truly perform badly in gambling than the rich.

While reading this comment I remember what happened yesterday; someone was discussing then he made mention of the whole amount he has lost so far on bet, then the other person asked him; is that all and he imminently replied yes oh brother. And the other person smiled and said you haven't lost anything yet compared to what he himself have lost. This made me to imagine how much have the guy lost since he said that. However, every money counts unless, only time the money wont count is if the money is lost. From my imagination, I don't think any money is a small money because there are people that don't have the list on their account or their hand, so it's better not to talk about the loss, rather we should talk about the ones we win. But it's not wise to chase a lose because you want to win.

[Sakanwa]

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.

why the rich win more than the poor it's because rich one's stake on higher amount then the poor man. Meanwhile the poor one's only gamble with the amount they can afford to  get, so you don't have to blame he/she for not seeing any good profit or winning like the rich one's. The rich will always get more winning because they can use very good amount of money and also get in return a good amount, they can sacrifice their one of their investments payments just to place bet, but the poor doesn't have any for him/she to bet on so you can't compare their both with the winner. And in gambling the higher your amount the higher your money increases in return, and with that you can invest it with something good in life.

[DYOR+BTC]

The reason why the rich win gambling more than the poor can not be over enfercised. Sometimes greed is what makes the poor not to win gambling. You will see a man that want to win 15,000,000 with just one hundred naira. Though it is possible they could win such about with one hundred naira. The poor always have this mentality that if they they have a high odd and if eventually they won the win the gambling their life have changed, or their family and personal problems is solved at such resulting to high odds which last win not win.
But the rich other the other hand always source for a lesser odd and then stake higher. There is less risk involved when you stake high with lesser odds. They rich are not greedy when it comes to gambling. They do not always see gambling as a means of solving their personal and family problems unlike the poor. Sometimes they do this for fun. A rich man is already to stake with 1,000 naira to win 2,500 naira, but it is difficult for a poor man to stake with 1,000 naira to win 2,500. The mentality of the rich and the poor when it comes to gambling totally differs.

[Cityhunter34]

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.

Because of the difference on bankroll. Rich people have a huge bankroll that gives them freedom to increase bet or play more until they win huge amount while poor has only limited bankroll which they will stop immediately once they lose enough.

This is the reason why poor shouldn't play gambling because it was intended for source of entertainment not a way to escape poverty. Bankroll is very important on gambling to stay longer until you hit your streak to profit.

You are absolutely right because the Rich people always put a huge amount in a bet that's why you see that they always won more than the poor people, because they believe that even if the game didn't play it would not worry them because they have the money already, while the poor always afraid is because they didn't have a enough money to lose.

[bubilas]

The reason why the rich win gambling more than the poor can not be over enfercised. Sometimes greed is what makes the poor not to win gambling. You will see a man that want to win 15,000,000 with just one hundred naira. Though it is possible they could win such about with one hundred naira. The poor always have this mentality that if they they have a high odd and if eventually they won the win the gambling their life have changed, or their family and personal problems is solved at such resulting to high odds which last win not win.
But the rich other the other hand always source for a lesser odd and then stake higher. There is less risk involved when you stake high with lesser odds. They rich are not greedy when it comes to gambling. They do not always see gambling as a means of solving their personal and family problems unlike the poor. Sometimes they do this for fun. A rich man is already to stake with 1,000 naira to win 2,500 naira, but it is difficult for a poor man to stake with 1,000 naira to win 2,500. The mentality of the rich and the poor when it comes to gambling totally differs.

Everything is right. I also want to add that rich people have the opportunity to hire high-tech specialists to avoid addictions, and poor people will have to deal with gambling addiction themselves.

Also, let's talk about the final goal: a big win. You've heard stories about the poor who won their money, and then divorced their wife, quarreled with relatives.
The poor are not good at using big money properly.

[nullama]

~snip~
Everything is right. I also want to add that rich people have the opportunity to hire high-tech specialists to avoid addictions, and poor people will have to deal with gambling addiction themselves.

Also, let's talk about the final goal: a big win. You've heard stories about the poor who won their money, and then divorced their wife, quarreled with relatives.
The poor are not good at using big money properly.

Yeah, but also rich people have more money to spend more on gambling, in flashier casinos and more times.

That could lead to a more difficult addiction to overcome. Someone poor might not be able to bet as many times for example, therefore their brain might be saved from the addiction.

It all depends on the individual in the end. Rich or poor, both can end up very addicted.

[ethereumhunter]

Rich people always put a huge amount in a bet that's why you see that they always won more than the poor people, because they believe that even if the game didn't play it would not worry them because they have the money already, while the poor always afraid is because they didn't have a enough money to lose.

Not many rich people will put a huge amount in a bet but if they do that, they can wins much money than other people. We must realizes that they have much money than us so we don't have to follows what they do instead just use enough money to playing gambling. We can't place a big bet like them because if we do that, our chance to lose all of that money will be bigger although they have the same thing as us. But they still have their money, even if they lose their money while if we lose that money, we can't fills our daily needs. Rich people will not worry if they lose in gambling because they still have money to do other things or to fills their daily needs. If we wants to playing gambling, it's better we always limit our budget so we don't lose much money.

[Kelward]

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.

In my understanding the reason why the rich wins more in gambling than the poor is quite simple, because they bet more. What a poor person can bet in a whole year will be what a rich person will bet in a single game, so assuming that a rich person and poor person bets the same thing on a game, you can never compere the amounts of money that each of them can win. So because the rich have higher chances of winning more, that is probably why they will gamble more than the poor, also I believe loses will not affect them much because they have too much money to spare.

Don't forget that the rich also loses more money in gambling than the poor because one lose is greater than many loses of the poor, so the equation is balanced that way. The higher the amount of money that you gamble is the greater your chances is at winning a higher amount of money ,vice versa.

[Cityhunter34]

Rich people always put a huge amount in a bet that's why you see that they always won more than the poor people, because they believe that even if the game didn't play it would not worry them because they have the money already, while the poor always afraid is because they didn't have a enough money to lose.

Not many rich people will put a huge amount in a bet but if they do that, they can wins much money than other people. We must realizes that they have much money than us so we don't have to follows what they do instead just use enough money to playing gambling. We can't place a big bet like them because if we do that, our chance to lose all of that money will be bigger although they have the same thing as us. But they still have their money, even if they lose their money while if we lose that money, we can't fills our daily needs. Rich people will not worry if they lose in gambling because they still have money to do other things or to fills their daily needs. If we wants to playing gambling, it's better we always limit our budget so we don't lose much money.

You are absolutely right because Rich people are always able and capable of providing for them self when they lose a huge amount in their gambling bet although while the poor people can not provide for them self when they lose a huge amount in their gambling bet, so that's while is not good for the poor people to use a huge amount in their gambling bet just bet as you can lose.

[Bravut]

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.

In my understanding the reason why the rich wins more in gambling than the poor is quite simple, because they bet more. What a poor person can bet in a whole year will be what a rich person will bet in a single game, so assuming that a rich person and poor person bets the same thing on a game, you can never compere the amounts of money that each of them can win. So because the rich have higher chances of winning more, that is probably why they will gamble more than the poor, also I believe loses will not affect them much because they have too much money to spare.

Don't forget that the rich also loses more money in gambling than the poor because one lose is greater than many loses of the poor, so the equation is balanced that way. The higher the amount of money that you gamble is the greater your chances is at winning a higher amount of money ,vice versa.

Not necessarily having too much money to spare, because of they have that much considering your view they would not have intention of gambling, and still eager to win like the poor. It a matter of different streams of income coming in which balances the losses incurred whereas the poor do not have such, so a loss can break them down this is just the difference.
As you have rightly said, you are correct with your explanation; A single win from a high stake convers the entire win of the poor fellow adding his losses too, lol.

In essence the Rich and Poor loss and also win but the difference is in the amount they stake also let not forget that the Rich can be poor while the Poor becomes more poorer if they fail they apply Risk Management and understand the need for limits.

[ethereumhunter]

You are absolutely right because Rich people are always able and capable of providing for them self when they lose a huge amount in their gambling bet although while the poor people can not provide for them self when they lose a huge amount in their gambling bet, so that's while is not good for the poor people to use a huge amount in their gambling bet just bet as you can lose.

Rich people can have money even if they lose in gambling because they still have more money in their account but that will not be a good idea if that rich people use much money to playing gambling. They must consider that gambling is just fun activity and not a place to makes money. The rich win gambling more than the poor is because rich people can place a bet using big money while poor people can't do that. But if we talk about the lose that they can gets, both rich and poor people can gets the big lose although they have the same chance to win some money. Both rich and poor people must not use much money to playing gambling because gambling can takes all of their money shortly. If both rich and poor people can use gambling with right, they will not lose much money but they will enjoy their time to playing gambling.