Rich, average or poor. Who loses more?

[Richbased]

To me I feel the Rich loses more because they play with huge amount unlike the poor and average that stake with little amount though the poor are more of gambling addict because since they don't have much money they always play so that they could win and possibly achieve something with the money.

 The Rich and wealthy people in our society are mostly secret gamblers as you hardly see them in gambling hall all they do is stake huge amounts online so when they lose a bet they just drink it off and move on with their life because the money is their but if the poor plays and loses he becomes so angry and unhappy.

 I believe that the average and the poor in our society plays more than the rich but it's just obvious that they stake with small amount such that if the lose it will be a little amount as well but the rich takes advantage of their wealth and stake huge in other to win big as well so if he loses a bet the money he used in staking might even be the amount the poor or the average want to win.

[Assface16678]

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.

I think when it comes to losing by number, I think any class is all the same. We are all humans and have a similar fate when it comes to gambling. Not all gamblers are lucky enough to win frequently. That's why I think when it comes to the number of losses in gambling, no matter what the class is, we are all the same, or they are all the same. But if we are talking about money, of course, why the rich people? Simply because they have more money to spend and can afford to lose than middle- or lower-class people, as they only have limited money to spend and can tolerate losing. Yes, middle- and low-class gamblers have alternatives to having money to gamble, but it will only make their lives worse. Unlike fortunate people, they have more money to spend and nothing to worry about. That's why I believe that they lose more money compared to other classes.

[Tipstar]

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.

I think when it comes to losing by number, I think any class is all the same. We are all humans and have a similar fate when it comes to gambling. Not all gamblers are lucky enough to win frequently. That's why I think when it comes to the number of losses in gambling, no matter what the class is, we are all the same, or they are all the same. But if we are talking about money, of course, why the rich people? Simply because they have more money to spend and can afford to lose than middle- or lower-class people, as they only have limited money to spend and can tolerate losing. Yes, middle- and low-class gamblers have alternatives to having money to gamble, but it will only make their lives worse. Unlike fortunate people, they have more money to spend and nothing to worry about. That's why I believe that they lose more money compared to other classes.

Generally richer people are supposed to be a wiser handler of money but how people bet and lose depends on the mentality of each individuals.
Poor people don't have a gambling fund to start with, so they generally don't even have access to addictive gambling.
High level of trouble caused by addicted gamblers on news generally have more rich and medium class people but the street stories of people destroying their family and house due to gambling addiction comes from lower or middle class ones.

[leonair]

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.

I have seen this topic before and this topic has been discussed many times before.  Rich people have enough money and they use gambling only as fun so they invest here as much as they can afford to lose but poor people because they have less money they gamble for income which is why they continue gambling and so on.  In the end, there is a lot of damage.  And at that time they become more miserable.  So I would say poor people lose more.

[livingfree]

IMHO, it's about the capacity of the poor and the rich. While it is a common thought that the rich will win becaus of how long he can stay on the casino based on the bankroll that he has.

But that doesn't mean that the poor don't have his luck to win against the house. This is gambling and many of the gamblers regardless of the life status can definitely win the house but not at all times.

The thing is, everyone has their own chance and no matter what is your situation your life, as a gambler, you can have your own fate but don't think of it as something unfair.

[danherbias07]

Maybe some of what you read is just confusing.
Here is my take.
The rich have a chance to win because they have deep pockets. And I think that's what they meant. The house is different it's the business so they are not the gamblers. Of course, they will always be the winners.

It's not contradicting but more of answering the question that was given.
You ask about the poor and rich and so we imagined that you are only asking about the gamblers/players and not the business.
A poor guy if he plays and doesn't win within the limit of his wallet then he is gone. He will wait for a chance of revenge when he gets money again. Unlike the rich who will always have the capacity to deposit again because money is within their reach or better, their wallet is full and it will take months before its depleted.
Why? Because RTP will certainly hit at some point. Betting on casino games means it might take a long before the gambling site gives back, I've tried it. Plinko for example. My losses are at x500 of my balance but I made a bet 10000 times then suddenly the x420 will be given to me so my losses are just x80 which gives me more chances in the next bets to come if I continue playing. That's RTP. What if one could not afford to play that long just to be able to reach the RTP time? Their gone and that chance is also gone if they rest for a long time.

[Johnyz]

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.

They have a huge leverage and that's why rich people can have the chance to earn more and of course. they will lose more as they spend more on their gambling activities. Actually, regardless of your financial status you can still lose and win money, it's just that you are on a different level but still the same principle in gambling. Every gambler can have the chance to earn more and that will always depend on your luck which anyone can have.

[junder]

Even though there are rich people who gamble using very large budgets of money and with bets that don't hesitate, but in terms of who loses more, I don't think it can be confirmed, either the poor or the rich, because gambling is a game of probability which is also gambling. In my opinion, this is a game of chance, and this means that everyone who gambles will experience losses, including even rich people, even though they are financially rich, but in my opinion they will also experience losses because losses in gambling do not affect rich people. poor people or middle class people, I think all gamblers who gamble must experience losses.
As for who loses more, in my opinion it depends on how someone approaches gambling, if they gamble often, meaning very closely, maybe they always lose, which is obviously detrimental, and this can happen to rich people or poor people, so who I think the one who gambles the most or often gambles is the one who suffers the most losses.

[Sanitough]

We don't have a data to conclude which of the 3 loses more.

However, I am confident with my guess that it's the "poor", and that is due to the reason that they are the more desperate to win big money. Let's use a simple question with an obvious answer, who gambles more in a lottery? Of course the answer is the "poor".

So the answer to your question is "POOR".

[dezoel]

I don't understand why one would think that the rich lose more than the poor or the poor lose more than the rich because a casino doesn't see status and provides losses and wins. It's all automated, the results are generated using algorithmic systems and there isn't any biasedness in that nor there can be. A poor person will have smaller bets compared to a rich person, which means that a poor person losing $10 is equal to a rich losing $1,000 based on their financial capacity.

So, there is no concept like that in gambling. A lot of people think that it's easier for one to win in gambling if they have a lot of money, it's a myth as well. You are never going to win if you are not destined to win as long as you are playing luck-based games, and if you are destined to win, you will win even if you have a small amount.

[Hypnosis00]

This is not about rich or poor. And this only shows more that the rich are likely to lose more.

That is most likely to happen. Those who spend more money are also those who lose more.
That is quite understandable that it points out to rich people. But it doesn't matter to them because they don't after winning, they just want to be happy spending their money. And it was a different story to poor and average people, they were seemingly looking for hope and luck to win the jackpot prize and become rich. And they feel mad when losing, unlike rich people who are still okay with it, they have plenty of money to lose.

But we have nothing to argue with because we all gamblers suffered more losses rather than winning, only the house benefits a lot.

[Beparanf]

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.

You mean contradicting on the bolded part right? I think the topic that attached on the OP as reference describes how huge bankroll can have a but advantage over small bankroll because they can play longer and has more space for error to recover unlike small bankroll which nothing can be done once busted easily.

On the other hand. Your analysis is correct if the rich people will play like poor which means betting reckless without maximizing his bankroll advantage by betting slowly.

[348Judah]

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.

Everyone will also talk his own even though when what they are saying is not even right, they will want their own opinion to be felt, you will discover so many situations whereby people are gambling and keep complaining about the condition of what affects their gambling experience, they can blame the casino cheating on them or assume another thing entirely different and off the radar just as in this case, how can be rich be more profitable or winning than the poor in gambling.

[lombok]

I don't understand why one would think that the rich lose more than the poor or the poor lose more than the rich because a casino doesn't see status and provides losses and wins. It's all automated, the results are generated using algorithmic systems and there isn't any biasedness in that nor there can be. A poor person will have smaller bets compared to a rich person, which means that a poor person losing $10 is equal to a rich losing $1,000 based on their financial capacity.

So, there is no concept like that in gambling. A lot of people think that it's easier for one to win in gambling if they have a lot of money, it's a myth as well. You are never going to win if you are not destined to win as long as you are playing luck-based games, and if you are destined to win, you will win even if you have a small amount.

Of all the posts in this thread, I agree with your opinion.

Gambling doesn't look at rich or poor, it's just a matter of the number of bets, if you lose, you lose, if you win, you win, but the difference is only in the amount of $$ they use to bet. Losing may be because the player does not understand the gambling game or is unlucky. For those who understand professionally, any game can give a winning percentage of more than 50 percent, such as poker or sports and esports gambling. If the player understands and masters it, the chances of winning will be greater. In contrast to players who randomly place bets without knowledge, the percentage of losses will be greater

[serjent05]

To answer the title:  I think the one who loses more is the one who failed to control himself in his gambling activities.  It does not matter whether you are a rich person or a poor one, what matters is that a person can control his urge to gamble.  The more loose a person on his gambling activities the more money he loses. 

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.

While there is some truth that rich people have more chance of winning because of their financial capability to wager more and have more chance to recover his losses,  there is also a high possibility that rich people can lose more amount of money looking at it objectively.

While in a subjective view, taking the relation of money spent to the overall capacity of a person, it is indeed the poor that loses more because they tend to bet all their money in casinos while rich people only bet part of their finances which relatively small compared to their overall wealth.

[qwertyup23]

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 statistically speaking, the house will always win due to the presence of house edge. That slight advantage that the gambling platform has will definitely outperform everyone in the long run assuming that we based it solely on the house edge. This is true as this is mathematically accepted and proven by the numbers alone.

While this may be true, this is only to a certain extent wherein there is a balance between winning and losing. This does not take into account the low odds of hitting a jackpot, etc. that can definitely happen if the person bets.

Let us take this for example:

In the Philippines, the chance of winning the lottery is 1 in 5,245,786¹. Obviously, that is definitely a low chance of winning but the more tickets you have, the more chances that can garner you that lightning chance of winning the whole jackpot.


1 https://en.wikipedia.org/wiki/PCSO_Lottery_Draw#:~:text=To%20win%20a%20prize%2C%20at,on%20Tuesdays%2C%20Thursdays%20and%20Saturdays.

[bluebit25]

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.

Anyway, the players will be the losers because in this field only developers are dominant, so I think the difference is not an issue that we have to calculate. There may be specific circumstances of the player and each person's own capital management, but with gambling this field shows that profits do not come from the balance between winning and losing fees, but the players themselves. After that, they were strong enough to collect everyone's entire bet.

I also think of some documented cases in capital management of the superiority of the rich, but to be fair, being rich or poor does not fully indicate the player's wisdom in the field of gambling, because we are people gambling is a tool to make money.

[bettercrypto]

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.

It is also true that the house always wins, which is why most gamblers often lose. And most gamblers believe in luck, but most don't experience luck often. That's what we knew from the very beginning of our decision to gamble at the casino.

Well, the rich and the poor experience the same loss; the only difference is the amount they lose at the casino. But being struck by luck is the same for the rich and the poor, often even for the poor who experience luck.

[Ruttoshi]

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.

Based on what you stated above, it was greed that made the poor people who had that winning game with two odds to add more games to their bet and lose, instead of just playing the game, the way it was predicted. I wouldn't say that is enough fact to say that the rich win more than the poor.

Gambling is the same for both rich and poor as it is not your personality that will win for you but luck. Imagine assuming those poor ones didn't add more games to the one provided, they will also win the game. I can say that the rich lose more than the poor because they have enough money to stake on any game that they want to bet on and if the lose, all the money is gone. A poor man can be cautious of his gambling activities and limit his losses but the rich wouldn't consider to limit their losses as they are big bettors. Gambling is the same for any category of gamblers, the rich don't lament or get frustrated when the loses, because they have businesses that gives them daily income but the poor will always get frustrated and cry out when he loses heavily. It is impossible to win the house hedge with your riches.

[goaldigger]

We don't have a data to conclude which of the 3 loses more.

However, I am confident with my guess that it's the "poor", and that is due to the reason that they are the more desperate to win big money. Let's use a simple question with an obvious answer, who gambles more in a lottery? Of course the answer is the "poor".

So the answer to your question is "POOR".

I have to agree on this because poor people usually spend the money they don't have and they borrow a lot of money just to gamble, that's why they lose more and you can easily compute that based on your asset compare to what you've loss. Rich people will always have the money to support their addiction, and that is because of their resources that makes them more liquid though of course when it comes to rich people we're talking about millions of money, its just that they have buffer to cover for that losses.