Rich, average or poor. Who loses more?

[Oshosondy]

I do not like thread that are long already. I prefer threads that is not more than 1 page long. I went through a long thread this time, some people are quoting me on the thread about who loses more to gambling and I read some replies only to find out that most people are saying rich people are likely to make money than poor people in gambling.

This is the thread
Why the rich win gambling more than the poor.

Is this not contradictory? I am not rich and I gamble and lose more. The same story by many rich people. People said you can not win the house. If more people are registered on a casino or a bookie site, the owner of the site will be happy. Because they know they will have more workers and be able to pay them as they will earn more. If you deposit huge amount, the more the happiness because the house would win at last. This is not about rich or poor. And this only shows more that the rich are likely to lose more.

So why are people contacting themselves. They will say the house would win because of house edge. Now they are also saying the rich would win than the poor. Is it not the others way around that the more the rich spend on gambling, the more the money the rich will eventually lose.

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[adultcrypto]

I do not like thread that are long already. I prefer threads that is not more than 1 page long. But some people are quoting me on a thread about who loses more to gambling and I read some replies only to find out that most people are saying rich people are likely to make money than poor people in gambling.

Why the rich win gambling more than the poor.

Is this not contradictory? I am not rich and I gamble and lose more. The same story by many rich people. People said you can not win the house. If more people are registered on a casino or bookie site, the owner of the site will be able. Because they know they will have more workers and be able to pay them as they will earn more. If you deposit huge amount, the more the happiness because the house would win at last. This is not about rich or poor. And this only shows more than. The rich are likely to lose more.

So why are people contacting themselves. They will say the house would win because of house edge while they are also saying the rich would win than the poor. Is nit the others way around that the rich for kre money to spend on gambling and which he will eventually lose.

I made that post base on personal experience and I have many evidence to justify that the rich win more than the poor. Many response of those who opposed that were on the basis that the rich stake higher amount, the reason then win more but even on the basis of percentage, the rich have higher win rate. The pattern of play of majority of the rich is to play 3 or 2 odds but big amount while those with little money will want to accumulate big odd to be able to win something significant. In doing this, the compound the risk and continue losing.

I have even see case of a big gambler dropping his games that are just within 2 odds for the public via his social media handle. While those with large capital play this game and win most of the times, those with small money will add other games to make the odd 10 or 20 and will end up losing. This confirms my statement that the rich win gambling more than the poor.

[avp2306]

So why are people contacting themselves. They will say the house would win because of house edge. Now they are also saying the rich would win than the poor. Is it not the others way around that the more the rich spend on gambling, the more the money the rich will eventually lose.

Because this is their beliefs since this is always projected majority then think about that they can't actually win due to house edge and they have more huge chances to win against us. But if they have good plans towards their game play set then provably they can take some profit even if its in small figures.

Also for comparing rich and poor I think its the same since what a poor gambler lose is huge for them since that's all they got also for rich gambler they lose huge since that's what they can afford that's why for some reasons I think both have similarities and it varies on the sizes of there bets. Maybe people just think that rich have more chances to win since they have money to spend but if we look closely all have the same chances.

[o48o]

I do not like thread that are long already. I prefer threads that is not more than 1 page long. I went through a long thread this time, some people are quoting me on the thread about who loses more to gambling and I read some replies only to find out that most people are saying rich people are likely to make money than poor people in gambling.

This is the thread
Why the rich win gambling more than the poor.

Is this not contradictory? I am not rich and I gamble and lose more. The same story by many rich people. People said you can not win the house. If more people are registered on a casino or a bookie site, the owner of the site will be happy. Because they know they will have more workers and be able to pay them as they will earn more. If you deposit huge amount, the more the happiness because the house would win at last. This is not about rich or poor. And this only shows more that the rich are likely to lose more.

So why are people contacting themselves. They will say the house would win because of house edge. Now they are also saying the rich would win than the poor. Is it not the others way around that the more the rich spend on gambling, the more the money the rich will eventually lose.

Well you are using a bitcointalk thread for a source. Of course answers and the thread is purely based on opinions. People can just be wrong. They can be wrong with the sources included, so naturally without sources as well. They are just opinions which aren't based on anything.

Question is ambiguous as well. Are you and them asking, that who is losing more money, or is there any difference on rich and poor losing, when we look it proportionately?

Rich obviously have higher change of losing or winning more money but percentually they will lose and win as much as poor people. I don't understand why people would even question that. It's self evident. Change to win is same for everyone.

[HelliumZ]

There is no standard to measure which class of gamblers loses more or profits more among rich, middle class, and poor gamblers. However, once the middle class and lower class lose in gambling, their mentality changes a lot because they don't have the courage to gamble again after losing a huge amount of money. But the elites do not become mentally broken even if they lose repeatedly in gambling but they do not hesitate to bet again to get profit even if they lose more than once. That's why the rich are more likely to profit from betting than the middle and lower classes.

[Hirose UK]

It just wrong mindset in understanding what the approach and performance of the gambling industry is.
If we talk about the house edge, it will indeed have far more advantages than the gambler himself and of course the house edge will be far ahead of the gamblers.
It just that some people still deny that there are several factors that can give an advantage over the house edge, and the truth is that only luck can give an edge, not those who have bigger money.
There are various assumptions that rich people will win more than poor people and I agree with this assumption, only what is meant is victory, not profit.
Talking about winning, rich people can stay longer in their gambling sessions and of course in this long time there will be wins even if they are only small wins, and if those who think rich people win more can take everything into account in the amount of money spent and results, it is impossible for them to assume that statement.
It is truly impossible to guess how every gambler has mindset and also has assumptions about all gambling activities, but what is very unfortunate is that the assumptions they have actually lead themselves into mistakes and are very detrimental.

[Fundamentals Of]

It's not contradictory at all. The rich gamblers are always the ones who will win more and who will also lose more. That's what happens if you have the money in gambling. You will bet big and win big. You will also bet big and lose big. The good thing about the rich is that they can continue to gamble after a series of losses. This means they could recover what's lost or they could lose a bigger money.

The poor can only lose what small they have. They cannot lose more than that because they don't have money left. They will go home. And because they only have limited finances, they can only bet small and win small.

[decodx]

So why are people contacting themselves. They will say the house would win because of house edge. Now they are also saying the rich would win than the poor. Is it not the others way around that the more the rich spend on gambling, the more the money the rich will eventually lose.

We all have our own perspectives on things.  When someone makes a statement like the rich win more at gambling while the poor lose more, it's important to recognize that's simply their personal opinion.  Without any evidence or data to back up such a claim, we can't assume it to be an objective fact and 

In a discussion like this where people are sharing thoughts without citation, were dealing entirely with subjective viewpoints.  Even if sources were included there's still room for error and misinterpretation.  At the end of the day, these are just individual opinions not necessarily grounded in hard facts. 

[ethereumhunter]

The people who lose the most are the people who don't control themselves when gambling. Even though he is rich, if he cannot control himself, he can lose all his deposit money, which is more than poor people. Likewise, poor people gamble with only enough money. This poor person's loss means a loss that causes him to lose all his money, which cannot be recovered because he no longer has any money.

And the more people deposit money to gamble and are not accompanied by learning self-control, the more they will experience losses. He can lose all his money in a short time, especially when he bets with big bets, so when he loses, it will immediately use up all his money.

[madnessteat]

~snip~

Have you ever thought about the fact that many people don't like to talk about their losses? In my opinion, non-rich people are more straightforward in life and therefore the likelihood of them telling the truth is much higher compared to rich people. Besides, you can't accurately determine who is rich and who is pretending to be rich from a forum account. In general, in my opinion, the probability of winning does not depend much on the size of the bankroll or bet. Therefore, I believe that this discussion will not be able to reveal the true statistics on your question.

[piebeyb]

Yes, it is true that rich gamblers should be the ones who lose because they have a lot of money which can make the dealer win a lot, but don't forget that most of the gamblers are generally people whose economic background is lower or are called poor, far more than rich gamblers, let's assume that those who gamble in casinos are poor gamblers. it could be thousands of people and while rich gamblers only number tens of people so it cannot be said that there are more rich gamblers who lose.

Poor gamblers will usually keep trying to play when they fail and lose so they become active users who gamble all the time while rich gamblers only gamble at certain times and even then just to look for fun or entertainment, nothing more than that, why do poor gamblers always lose? because only they can become loyal users to continue gambling and making deposits because they are obsessed with big wins and also wealth.

[Queentoshi]

Is this not contradictory? I am not rich and I gamble and lose more.

I think everyone looses in gambling, but depending on the mood that someone gambles with, that is what determines if they will loose or win. Due to the pressure to want to make money from gambling, many gamblers who are poor may be under pressure to win from gambling and because of that pressure make mistakes and loose their bets. An average person who gambles may not be under pressure to make money and may be more relaxed gambling. A rich person may be too careless gambling, and because they do not consider winning too much when gambling, they may either win or loose, a 50/50 chance.

[Eureka_07]

<snip>
So why are people contacting themselves. They will say the house would win because of house edge. Now they are also saying the rich would win than the poor. Is it not the others way around that the more the rich spend on gambling, the more the money the rich will eventually lose.

Rich gamblers win more because they spend and stake bigger than poor players. I roughly estimate that 'poor' players are just too eager on winning and are more prone to be affected by the streak losses, causing them to play more aggressively and somehow, out of control, which most of the time leads the balance to be depleted. This is a general estimation as  some rich gamblers may get broke and some poor gamblers may win big and get rich.

[Unbunplease]

Do the rich win more often than the poor? The answer to this question is far from unambiguous. Of course, the rich have more money, so they can bet more often, and the size of their bets is immeasurably larger. The poor, on the other hand, have to be more cautious in betting and more seriously study the subject of betting. Therefore, the effectiveness of betting between the poor and the rich can be very different

[Solosanz]

What are the definitions of rich, average and poor?

If I gamble $5K in a month, does that mean I'm rich? yes for someone who live in third country, no for someone who live in first country and earn $100K in a month.

IMO the poor lose more because they're vulnerable against addiction and feeling to make money through gambling.

[Z_MBFM]

There is no standard to measure which class of gamblers loses more or profits more among rich, middle class, and poor gamblers. However, once the middle class and lower class lose in gambling, their mentality changes a lot because they don't have the courage to gamble again after losing a huge amount of money. But the elites do not become mentally broken even if they lose repeatedly in gambling but they do not hesitate to bet again to get profit even if they lose more than once. That's why the rich are more likely to profit from betting than the middle and lower classes.

Rich people definitely lose more gambling than poor people.  But as they are financially strong that loss does not hurt them much but poor people lose less amount because they bet less amount and even if they lose that amount they suffer a lot because they are already very weak financially.  So even if they lose that small amount, they become financially weaker. So if you ask who loses the most at gambling then I must say rich people. But if you say who suffers the most after gambling loss then I would say poor people.

[Rufsilf]

The people who lose the most are the people who don't control themselves when gambling. Even though he is rich, if he cannot control himself, he can lose all his deposit money, which is more than poor people. Likewise, poor people gamble with only enough money. This poor person's loss means a loss that causes him to lose all his money, which cannot be recovered because he no longer has any money.

I agree that losing is the same regardless of wealth, average income, or even poor, if we lack self-control and are unsure of how much to wager when gambling, we are a loser.

Is this not contradictory? I am not rich and I gamble and lose more. The same story by many rich people. People said you can not win the house. If more people are registered on a casino or a bookie site, the owner of the site will be happy. Because they know they will have more workers and be able to pay them as they will earn more. If you deposit huge amount, the more the happiness because the house would win at last. This is not about rich or poor. And this only shows more that the rich are likely to lose more.

It's also true that the house usually prevails, so how can we defeat them?  Unless, of course, you are exceptionally skilled and fortunate to have had good fortune on your side. In that case, you are truly lucky. The people who run the casino or own it are more experienced than us and are familiar with every aspect of the game, including how it plays. It's as though our money represents their happiness and we are just their toys. Once we fall into their trap, it's time to return and play in their casinos as we have become used to gambling and are unable to refuse their offers.

Additionally, it is not contradictory in the slightest. After all, we cannot evaluate those who quote from that forum because we all have various viewpoints and the majority of them are simply subjective. Though they don't really have a source to display, they primarily base their stories on their own experiences, which is how they share them with the majority. As such, there is no right or wrong in what they say.

[Jody.Drummer]

So it's actually like this, in terms of winning everyone whether rich or poor has the same possibility in terms of opportunities, meaning that whoever is involved in gambling then they will have the same chances in terms of winning, and what's interesting is that the OP has also said that most people speculate that rich people will be able to get more wins than poor people, but in my opinion rich or poor cannot be used as a benchmark about a victory. Winning in gambling is completely unknowable, especially about when you will win and how much you will win.

Another thing in the matter of who will lose more in my opinion it really depends on how the approach a person takes to his gambling, whether it is rich or poor still if they come with the wrong and excessive approach then they will lose a large amount, But maybe if we compare in terms of the number of defeats between the rich and the poor maybe I would say that the rich have the possibility to experience a greater number of losses, because of course the financial strength of the rich and the poor is much different, so simply put the number of defeats experienced by the rich can be comparable to the number of 10x defeats experienced by the poor, and the real victory is only for the casino itself.

[angrybirdy]

There is no standard to measure which class of gamblers loses more or profits more among rich, middle class, and poor gamblers. However, once the middle class and lower class lose in gambling, their mentality changes a lot because they don't have the courage to gamble again after losing a huge amount of money. But the elites do not become mentally broken even if they lose repeatedly in gambling but they do not hesitate to bet again to get profit even if they lose more than once. That's why the rich are more likely to profit from betting than the middle and lower classes.

Exactly! Those people in the middle and lower class tends to become more broke after losing such amount in gambling and even if they really want to gamble, they can't do that again because they have no money. nothing left in their pockets after losing, what's even worse is that maybe because they want to continue gambling, they might think of something else that is more difficult to solve such as borrowing money or mortgaging properties.

[coin-investor]

Now they are also saying the rich would win than the poor. Is it not the others way around that the more the rich spend on gambling, the more money the rich will eventually lose?

The house always wins and rich people gamble more so they lose more It is all about proportion, they bet huge money so they win huge money if they are lucky, and if they lose money they lose a lot of money, same with poor people they have to be so lucky to win huge from small bets, the poor can only lose money based on what they can afford to bet if the casino has a choice they want rich people to lose because they lose a lot compared to poor.
The rich lose a lot but they have a chance to win a lot also because they can bet huge, poor people can also win huge but they have to be extremely lucky to win huge.