Why the rich win gambling more than the poor.

[piebeyb]

There could be alot of reasons why the wealthy win more than the poor and I don't think luck is a factor. I think it has to do with the fact that the rich usually will have a limit on how much money to bet and they will stick to that limit. If someone has a net worth of $1,000,000 and they lose $1000, they don't really care. But if you take someone who has a net worth of $2000 and they just lost $1000, most likely they will be on tilt and start to revenge gamble to win back that $1000 and we all know what happens in this situation, they end up losing even more money.

So the rich aren't as emotional and they don't get into these tilt situations where they aren't thinking and they start to bet more money than they can afford to lose and end up blowing up their bank account. This same situation applies to trading pretty much. Those which are overleveraged usually are the ones which lose money than those which are trading with a regular spot account.

I also think that rich people usually gamble with money that they are ready to lose and are not too eager to multiply their money in gambling to get more, they just focus more on entertainment and fun, don't care about losing money that is smaller than the amount of their wealth, that's why Rich people tend to play just for fun, I think the concept of winning is not because they can get money from gambling but because they manage to control themselves so they don't gamble excessively and become addicted to gambling.

When a rich person knows when he has to stop gambling that is also called winning, so he doesn't always have to win with money but wins by being able to control himself, I personally believe in luck, I think rich people are definitely luckier because when they win he will not try to spend the winning money to get even higher winnings, of course they will stop playing when it's time to stop, so that their winning money can be withdrawn or saved back for the next game later, while poor people when given their winnings continue to play again in the hope of winning even bigger. It's clear from here that we have a difference

[I_Anime]

First, I’ll say that it’s because the poor people are more desperate. Secondly, I’ve come to realize that the more money you have, the more chance you have to try again (Incase you initial tries weren’t successful). But for someone who is poor and doesn’t have enough. Once they lose the first few times, all of their money is finished and that ends it.

Exactly, same also implied in trading. That the poor are always desperate which most time cause them alot ( losing alot of their hard earned money). When it comes to trading or gambling one don't need  to have the mindset of getting rich quick with gambling Which is bad because it will make one to be desperate in making it pretty fast. That's is better to gamble for fun than for winning or hitting the jackpot.

The rich normally ain't desperate because they have already made it , all they mostly focus on Is the fun in gambling and most time they know when to stop (call it a day ). Because any lost they experience most time won't freak them they will just take it as a penny . So they won't chase after it risky another Money to get what they have lost .

Risk-taking is in us. It's our DNA. It inspired us to seek mammoths and discover other continents. Gambling plays on that primordial urge. The mystery and adrenaline surge when the dice or cards fall are it

And yes, jackpot hunting is foolish. Addiction and financial disaster await. It's okay to gamble occasionally. Keep a good relationship with it. Limit your losses, walk away while you're winning, and never gamble more than you can afford

The key is finding the sweet spot where game excitement exceeds losing. Enjoy the journey, not the destination. Never forget why "gambling" is named that. Life is thrilling because there are no guarantees

That's a nice point mate, the moment one start hunting for jackpot in gambling that when he or she opens the door of more losses , because they would no longer see gambling from the fun part again , but as a means to get rich quick by just hitting the jackpot. Which has lead to alot of gambler down fall . Normally earning some Extra funds when you have fun is pretty good abusing that term is bad because you may endup getting yourself rekt,  due to the way one take gambling.

[bakasabo]

I still believe that rich and poor win identically in gambling. First of all we must compare them identically to have true answers. If millionaire bets $1000 and does not care if he looses, then poor person bets 10 cents and does not care if he looses. It is wrong to compare their bet size imho. It is correct the win rate and the amount of bets they made. And I really doubt that a rich person would bet $1000 only. For example if he doubles his bet, he would not be satisfied much, as $2000 is still little for him. Also one of the arguments why they both win and lose identically - lets suppose a millionaire bets $100k, a poor person bets all of his $1000. Both lose. Turn out that rich looses more. Then how can we say that he wins more. Something isnt correct then, as this is illogical.

[Dewi Aries]

Risk-taking is in us. It's our DNA. It inspired us to seek mammoths and discover other continents. Gambling plays on that primordial urge. The mystery and adrenaline surge when the dice or cards fall are it

And yes, jackpot hunting is foolish. Addiction and financial disaster await. It's okay to gamble occasionally. Keep a good relationship with it. Limit your losses, walk away while you're winning, and never gamble more than you can afford

The key is finding the sweet spot where game excitement exceeds losing. Enjoy the journey, not the destination. Never forget why "gambling" is named that. Life is thrilling because there are no guarantees

That's a nice point mate, the moment one start hunting for jackpot in gambling that when he or she opens the door of more losses , because they would no longer see gambling from the fun part again , but as a means to get rich quick by just hitting the jackpot. Which has lead to alot of gambler down fall . Normally earning some Extra funds when you have fun is pretty good abusing that term is bad because you may endup getting yourself rekt,  due to the way one take gambling.

Yes I agree with that and I will reiterate your point that when a gambler makes or builds an intention in his mind to chase a big jackpot in gambling then he is opening the door for the possibility of bigger losses. And I think that possibility is indeed real, because we can see and make the downturn experienced by addicted gamblers as an example where instead of getting a big win but what happens is that they lose large amounts of money.

On the other hand, it is clear that when gambling is used as a place to earn income or a means to get rich quickly, it is clear that there will be no fun or entertainment element anymore but all running sessions will be filled with tension along with various pressures due to worries that will certainly always haunt a gambler, and I would say that however and until whenever the idea of making money in gambling can never work, because of course gambling is nothing more than a probability activity that runs without certainty and any guarantee of winning, meaning that defeat can never be avoided completely.

[junder]

I also think that rich people usually gamble with money that they are ready to lose and are not too eager to multiply their money in gambling to get more, they just focus more on entertainment and fun, don't care about losing money that is smaller than the amount of their wealth, that's why Rich people tend to play just for fun, I think the concept of winning is not because they can get money from gambling but because they manage to control themselves so they don't gamble excessively and become addicted to gambling.

When a rich person knows when he has to stop gambling that is also called winning, so he doesn't always have to win with money but wins by being able to control himself, I personally believe in luck, I think rich people are definitely luckier because when they win he will not try to spend the winning money to get even higher winnings, of course they will stop playing when it's time to stop, so that their winning money can be withdrawn or saved back for the next game later, while poor people when given their winnings continue to play again in the hope of winning even bigger. It's clear from here that we have a difference

In fact, it still makes sense that those who are rich in gambling do not focus on pursuing victory because perhaps they are more focused or think of gambling as just for fun. and maybe even with the money they bet, it's not that big for them when they lose the money they bet, it's true what you said. In this case, rich people seem to win in terms of self-control because they still have quite a lot of money so they don't worry too much. , although there is still a possibility that they may feel upset about the loss of losing their money. and by being able to win in terms of self-control, it allows them to avoid big risks that should not occur and it can be said that it helps them to a greater or lesser extent in gambling.

I agree with what you said about winning not only in money, but in terms of thinking, the actions decided can be said to be wins and losses, which is clear in complete self-control when gambling. Apart from that, perhaps the difference between rich people and poor people is in their actions when they win, as you said about rich people who have won, they don't seem to be wasting their winnings by betting again with the aim of producing more wins. bigger, and with poor people whose goal of gambling is more likely to chase winnings, then when they win there is a big possibility that they will risk their winnings to get an even bigger win.

[oktana]

First, I’ll say that it’s because the poor people are more desperate. Secondly, I’ve come to realize that the more money you have, the more chance you have to try again (Incase you initial tries weren’t successful). But for someone who is poor and doesn’t have enough. Once they lose the first few times, all of their money is finished and that ends it.

Exactly, same also implied in trading. That the poor are always desperate which most time cause them alot ( losing alot of their hard earned money). When it comes to trading or gambling one don't need  to have the mindset of getting rich quick with gambling Which is bad because it will make one to be desperate in making it pretty fast. That's is better to gamble for fun than for winning or hitting the jackpot.

The rich normally ain't desperate because they have already made it , all they mostly focus on Is the fun in gambling and most time they know when to stop (call it a day ). Because any lost they experience most time won't freak them they will just take it as a penny . So they won't chase after it risky another Money to get what they have lost .

Risk-taking is in us. It's our DNA. It inspired us to seek mammoths and discover other continents. Gambling plays on that primordial urge. The mystery and adrenaline surge when the dice or cards fall are it

And yes, jackpot hunting is foolish. Addiction and financial disaster await. It's okay to gamble occasionally. Keep a good relationship with it. Limit your losses, walk away while you're winning, and never gamble more than you can afford

The key is finding the sweet spot where game excitement exceeds losing. Enjoy the journey, not the destination. Never forget why "gambling" is named that. Life is thrilling because there are no guarantees

Don’t just say to walk away when you’re winning. That’s how people end up gambling and winning till they lose. Because they haven’t defined “winning” as an amount. Until you do that, you’ll likely keep gambling because greed would keep telling you to make a little more money. But when you set an amount. Once your reach that amount, it doesn’t automatically make you stop but you’ll have a sense of responsibility to obey and maybe it’ll call you back to your sense.

[STT]

Rich in quantity doesnt matter exactly but the leeway and freedom it gives while gambling does.    The main difference in being rich is the basic needs are tiny compared to your wealth, to eat and live is just a tiny cost and of no real worry.   If you gamble while poor you must be very modest, controlled with good discipline you might win the bets but it does take more in that control to win with a little. 

Also when you are rich you just have more time spare I think, more space with which to gamble and obviously more money to spend on every game without the losses mattering at all.   People who are less rich do often have the same option in crypto just to gamble a little till they are comfortable hence this word sums it up for.  Be comfortable and you are more likely to win, its not exactly about the magnititude and quantity of money you are betting but the ease and relaxed state helps with less anxious betting.

[Hewlet]

I still believe that rich and poor win identically in gambling. First of all we must compare them identically to have true answers. If millionaire bets $1000 and does not care if he looses, then poor person bets 10 cents and does not care if he looses. It is wrong to compare their bet size imho. It is correct the win rate and the amount of bets they made. And I really doubt that a rich person would bet $1000 only. For example if he doubles his bet, he would not be satisfied much, as $2000 is still little for him. Also one of the arguments why they both win and lose identically - lets suppose a millionaire bets $100k, a poor person bets all of his $1000. Both lose. Turn out that rich looses more. Then how can we say that he wins more. Something isnt correct then, as this is illogical.

the right context to this argument is that the rich win more whenever they win and looses more whenever they loose. The rate of thier win or looses is purely dependent on thier individual betting amount. Let's say for instance that the supposed rich guy placed a bet with a $100 at a time and the poor bets with $10 at the same time. What will determine if they will win the bet is not just the amount that's used in playing the bet but it's more of the luck that they have or probably there experience in the bet. Let's assume that they placed the same bet and won 2× of the amount they stakes. So the rich literally won $200 while the pooran won $20. Did the rich win more than the poor man in this context? I truly doubt that that's the case and even if you reverse the scenario that they both lost in the the game, it's still a function of the amount played. If you bet with more, you will win or loose with more and if you bet with little, you will win or loose little, it's just simple as that.

[Richbased]

There could be alot of reasons why the wealthy win more than the poor and I don't think luck is a factor. I think it has to do with the fact that the rich usually will have a limit on how much money to bet and they will stick to that limit. If someone has a net worth of $1,000,000 and they lose $1000, they don't really care. But if you take someone who has a net worth of $2000 and they just lost $1000, most likely they will be on tilt and start to revenge gamble to win back that $1000 and we all know what happens in this situation, they end up losing even more money.

So the rich aren't as emotional and they don't get into these tilt situations where they aren't thinking and they start to bet more money than they can afford to lose and end up blowing up their bank account. This same situation applies to trading pretty much. Those which are overleveraged usually are the ones which lose money than those which are trading with a regular spot account.

That's just it, the rich doesn't care if they lose or win because it's not gonna affect them in anyway but when the poor loses it troubles their emotions because they gamble to win and not for fun so if they are unfortunate not to win they get devastated because they will begin to feel bad since they are looking for a way to come out of poverty through gambling but instead they find their selves in more severe losses. The rich also stakes with huge amount and if they win they win huge too but the poor stakes very little and when they win it also comes in little form which they can even spend again while trying to win more but when the rich wins a huge amount, they invest it in other business and they are very calculative with their gambling, they don't gamble all the time unlike the poor that are mostly seen in gambling offices every day just because they are anxious for winning which they don't even win at the end of the day.

The rich are more relaxed when they gamble because they don't take it too serious but a poor man will be very vigilant and focused about any bet they stake and if it doesn't work in their favour they become so aggressive to people around them and their family.

You are right about those that are over leverage losing more in trading than those with regular sporting accounts but regardless of the fact that gambling is almost same as trading but thee is a slight difference between the both of them in the sense that gambling is more of probability while trading depends on your ability to understand the market and use the signals correctly but it doesn't mean that one should solely depend on trading because therer are bad moments in trading when you can apply all technical knowledge but you can still run into losses.

[Onyeeze]

I still believe that rich and poor win identically in gambling. First of all we must compare them identically to have true answers. If millionaire bets $1000 and does not care if he looses, then poor person bets 10 cents and does not care if he looses. It is wrong to compare their bet size imho. It is correct the win rate and the amount of bets they made. And I really doubt that a rich person would bet $1000 only. For example if he doubles his bet, he would not be satisfied much, as $2000 is still little for him. Also one of the arguments why they both win and lose identically - lets suppose a millionaire bets $100k, a poor person bets all of his $1000. Both lose. Turn out that rich looses more. Then how can we say that he wins more. Something isnt correct then, as this is illogical.

the right context to this argument is that the rich win more whenever they win and looses more whenever they loose. The rate of thier win or looses is purely dependent on thier individual betting amount. Let's say for instance that the supposed rich guy placed a bet with a $100 at a time and the poor bets with $10 at the same time. What will determine if they will win the bet is not just the amount that's used in playing the bet but it's more of the luck that they have or probably there experience in the bet. Let's assume that they placed the same bet and won 2× of the amount they stakes. So the rich literally won $200 while the pooran won $20. Did the rich win more than the poor man in this context? I truly doubt that that's the case and even if you reverse the scenario that they both lost in the the game, it's still a function of the amount played. If you bet with more, you will win or loose with more and if you bet with little, you will win or loose little, it's just simple as that.

are not supposed to be comparing the rich people losing in gambling and poor people losing in gambling or rich people benefiting in gambling with the the poor people benefit in gambling, there is there something that worth a comparison because I know very well not to comparing the rich people with a poor people it is something that does not have Evaluation, because I know quite well not poppable we gamble with the lower amount of money why the rich people we gamble with the high amount of money so there is every possibility that the rich people when lock is with them they make more money through gambling and when losses against them they will lose more money than the poor people so that is the whole scenario.