Rich, average or poor. Who loses more?

[AicecreaME]

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.

Indeed. Social class won't determine the number of losses, the total funds lost, and the total profit a gambler can make. It really depends on the person's strategy, skills, known information, funds at stake, and luck. So it will really vary. Some people who are excessively gambling regardless of the social status will definitely lose more because of impulsive and irresponsible gambling habits. Meanwhile, those who are disciplined and have control in gambling expenditures will lose less because they can fight their urge to nonchalantly burn their money.

[Natsuu]

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.

Indeed. Social class won't determine the number of losses, the total funds lost, and the total profit a gambler can make. It really depends on the person's strategy, skills, known information, funds at stake, and luck. So it will really vary. Some people who are excessively gambling regardless of the social status will definitely lose more because of impulsive and irresponsible gambling habits. Meanwhile, those who are disciplined and have control in gambling expenditures will lose less because they can fight their urge to nonchalantly burn their money.

Exactly! It doesn't matter if you're high or low on the social ladder, when it comes to gambling, it's all about your game plan. If someone's going all out without thinking, no matter their social status, they're bound to lose big. But if you're smart about it, keep a lid on your spending, and play it cool, you're more likely to come out on the winning side. So, whether you're a high roller or just playing for fun, staying in control is the name of the game.

[Shishir99]

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 depends on the gambler himself and their betting patterns. No matter if they are rich or poor. There are various types of gambling and each category has it's unique system. Some gamblers play slot games only while others place bets on sports. Some others play table games and some others only provably fair in-house games. If gamblers cannot control their emotion when they place bets, they are likely to loss. It does not matter if they are rich or poor. The casino does not verify anyone's wealth!

Sometimes a poor gambler could hit a 1000x bet with a $1 bet and win $1000 which he could keep and stop gambling for the week because it is a lot for him. Meanwhile, a rich person could win the same bet and continue gambling because a thousand dollars is nothing for him. He might continue betting for more multipliers and they could lose all the winnings. So, it doesn't matter! It depends on gamblers behaviour.

[Don Pedro Dinero]

Sometimes a poor gambler could hit a 1000x bet with a $1 bet and win $1000 which he could keep and stop gambling for the week because it is a lot for him. Meanwhile, a rich person could win the same bet and continue gambling because a thousand dollars is nothing for him. He might continue betting for more multipliers and they could lose all the winnings. So, it doesn't matter! It depends on gamblers behaviour.

No, the example you give is incorrect because a rich man does not make $1 bets.

In general the rich tend to bet less than the poor, and that is a fact that can be seen in the fact that where there are more bookies is in the poorer neighbourhoods of the cities and where more lotteries are sold as well. But when the rich bet, they bet in relation to their wealth, and they will not bet $1. They will bet $100 or $1,000 or whatever depending on their wealth.

[Eternad]

Exactly! It doesn't matter if you're high or low on the social ladder, when it comes to gambling, it's all about your game plan. If someone's going all out without thinking, no matter their social status, they're bound to lose big. But if you're smart about it, keep a lid on your spending, and play it cool, you're more likely to come out on the winning side. So, whether you're a high roller or just playing for fun, staying in control is the name of the game.

Nah, Bankroll can make a huge impact on your game because you can play more that can give you chance to win more or recover your losses unlike low bankroll which you can easily bust with just a few lose streak.

Besides poor people usually play like their life depends on their bet that’s why they can’t think clearly unlike rich people that is just playing like a normal game no string attach. Rich people loses more but they can win more unlike poor people that has a small potential on winning huge due to their limited bankroll.

[rahmad2nd]

Honestly, for me, gambling is the same, the only difference is the size of the bankroll that each person spends to make a deposit. whether he is rich, poor or just an ordinary person, losing and winning are part of gambling, there are no castes regarding luck, winning, or even who loses more. basically, every gambler has their own portion when it comes to gambling. we will bet as much as we can afford to bet, many of us bet with small bankrolls, not a few also use large bankrolls according to the limits of their respective abilities.

In fact, I have never compared who loses the most from gambling, and who wins the most from gambling. ordinary people or rich people, for me it's all the same and it's just a matter of numbers, nothing more. but I agree with what you said, "Is it not the other way around that the more the rich spend on gambling, the more money the rich will eventually lose". the answer is simple, because they spend more money than gamblers in general. and if they lose, it means they have suffered a big defeat. but in return, they get results commensurate with the money they bet. in essence, gambling does not know whether you are rich or not. if you lose you lose, if you win you win.

[Yatsan]

Well logically, rich individuals should lose more if by comparison with poor gamblers however on the same sense, rich gamblers has a bigger bankroll which serves as their fuel to play more end up getting back with their losses unlike with poor gamblers that once they lose, its over for their bankroll and that they need to wait for the next time they will have money to again play.Same thing goes with investment and the underlying idea that Rich ones are getting more rich. Is it a disadvantage? There's no such thing as advantage or disadvantage; let's say rich gamblers will be able to bet more, what if they continue losing because of unfortune? We are all just taking the risk; the one who manages the bet and bankroll better would have the edge to come out from the 'table' with profit in his bag/wallet.

Exactly! It doesn't matter if you're high or low on the social ladder, when it comes to gambling, it's all about your game plan. If someone's going all out without thinking, no matter their social status, they're bound to lose big. But if you're smart about it, keep a lid on your spending, and play it cool, you're more likely to come out on the winning side. So, whether you're a high roller or just playing for fun, staying in control is the name of the game.

Nah, Bankroll can make a huge impact on your game because you can play more that can give you chance to win more or recover your losses unlike low bankroll which you can easily bust with just a few lose streak.

Besides poor people usually play like their life depends on their bet that’s why they can’t think clearly unlike rich people that is just playing like a normal game no string attach. Rich people loses more but they can win more unlike poor people that has a small potential on winning huge due to their limited bankroll.

Against with not being able clearly; indeed poor gamblers are putting their faith in the bets but in the same sense, they are putting more time with it because they often only have 'one shot' in each of their gambling or betting instance.

Quite gives the same energy as with the topic recently about buying more tickets to have higher chances of winning the lottery. Rich gamblers has 'more ammo' but that won't guarantee victory still. Increasing the chance don't mean being certain of victory.

[borovichok]

Exactly! It doesn't matter if you're high or low on the social ladder, when it comes to gambling, it's all about your game plan. If someone's going all out without thinking, no matter their social status, they're bound to lose big. But if you're smart about it, keep a lid on your spending, and play it cool, you're more likely to come out on the winning side. So, whether you're a high roller or just playing for fun, staying in control is the name of the game.

We're able to control what we think is best for us and not the other way round, just stick to what we think is positive without having to mention any other sectors that have dragged us back. Fun to gamble but without a good paying job and solid strategy, I consider it to be known and void, no interest or upgrade in the system. All phases mentioned do record losses that pain the heart so badly, some gamblers will never forgive themselves when it comes to losses, they have liquidated their accounts and now they would be struggling to bounce back to their feet which is now a 50/50 chances of succeeding in life.

[Shishir99]

No, the example you give is incorrect because a rich man does not make $1 bets.

In general the rich tend to bet less than the poor, and that is a fact that can be seen in the fact that where there are more bookies is in the poorer neighbourhoods of the cities and where more lotteries are sold as well. But when the rich bet, they bet in relation to their wealth, and they will not bet $1. They will bet $100 or $1,000 or whatever depending on their wealth.

The example still works!
Even if they bet $100 and hit 1000x, they might still continue to gamble depending on their wealth. Sometimes it depends on whether they are greedy or not. But, Most rich gamblers continue betting even after a big win while most poor people take a break after a big win. Wealthy gamblers do not fear losing too much because of their wealth but most poor gamblers try to stop after a certain period.

It's a debatable statement. You may say that poor gamblers continue to gamble too after a big win. Well, yeah. It depends! Also, some wealthy gamblers stop gambling after a big win. 

[maydna]

~snip~

When you are rich then you could care less specially on spending and specially on the things that you've been doing. You wont really be that tending to make yourself that counting into the money that you've been losing since you know that you could easily patch it up or able to recover from it easily.Unlike into those poor people who do gamble on which they are really that wrecking themselves further more as they do engage with gambling. There are really people who are really just that doesnt care about on the things that they've been dealing even if they are already compromising their
finances as long they could be able to feed up their leisure then they would really be doing it right away without a doubt. This is why people do mess up with these kind of decisions.

Those are rich people who don't worry about anything because they can use their money for various things, including their daily needs and gambling, without any problems. They have many sources of income, so these sources of income can provide a lot of income, too. Meanwhile, other people will not be able to do what rich people do because they do not have a source of income that can provide income for them continuously. They have to work harder than other people if they want to make more money but that also doesn't guarantee they can make a lot of money. But as for who will lose more, it depends on who uses more money and cannot control himself well while gambling. If those who don't have a lot of money gamble but can control themselves well, they won't lose much money. They can save money for another day and avoid losing a lot.

[goldkingcoiner]

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.

I think its easier to make money if you are rich than when you are poor. So if you gamble and lose, you are not broken. But if you are poor, you have to think about basic costs bankrupting you. That is basically the difference; the rich play without much consequence and the poor play with the consequences of getting themselves into a really tough life situation.

The poor can play, but they should not gamble with more than they can spare. In fact, bet with as little money as possible. You will still get that adrenaline kick that you are longing for but you get to keep most of your money and dignity at the end of the day.

[Cookdata]

Actually the rich tend to win more than the poor because they have better risk management which allows them to keep their bankroll incheck such that they loose less often than they win because they know how much they are putting at stake so that makes them reduce their risk to the bearest minimum so as to increase their chances of winning.

Your opinion is justifying how the typical rich and poor tend to gamble but I think it's more of individuality. You can have a gambler who is rich and gamble irresponsibly or doesn't even know how to gamble and incur many losses and there could be a gambler who is poor and basically understand everything you think the rich will do be it bankroll incheck and also maximize profits. But ideally, rich men are very good in management and that is why they don't get emotional and make decision that a poor person will make.

The house always have that house edge privilege and that's not in doubts as they are most at advantage more often than the gamblers. The poor usually have the mentality of wanting to milk the house all at one by this they tend to increase their risk by making multiple picks such that the odds become too high and their chances of winning reduces but with the rich they make only very few picks and with high stakes, they will be making good amount bof money already but the poor needs to accumulate so much odds to be able to get such amount the rich will get at once and this variations results from their varring staking power.

The house edge depends on the percentage they give and it different when you check different casino provided that they make it public and if that's true. A poor person can have a small amount of money but expect a huge amount in return, this is who they lose even without starting because even in an investment, you can't invest a small amount and expect something huge but they will bet $1 with 100 multiplier while a rich person can wager the same game with $100 with 2 multiplier and they tend to have high chance than those with huge multipliers.

[CryptSafe]

It is obviously clear that the rich lose more and big too. The amount of money the rich budget for their gambling can not be compared to the middle or average and the poor. The amount between the classes does not equate each other so therefore each gamble as they can afford to lose. That is why when any parties wins, they win according to their inputs and same applicable to when they lose as well.

I believe you must have heard so many stories of celebrities and stars losing heavily on their bets. Drake for example lost huge amount of money up to $500,000 sometimes last year on a game he played. If you check out the amount he lost compared to others how does that sound or what does it tells you. I believe the rich lose more as well.

[0t3p0t]

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.

For me the higher class of gamblers loses more due to it's ability to spend more money on gambling unlike in lower class where money is limited. Rich people win big and of course lose big amount of money as well. This really depends on someone's emotions, responsibility or how a gambler deal with gambling regardless of classes.

[summonerrk]

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.

This is a question that is not easy to answer, because the main point is that poor people play a lot in casinos and other gambling services. There are few rich people, but they spend a lot in casinos. Still, I think that the poor lose much more in casinos because they have an incentive - the desire to get rich.

After all, money solves all problems. This means that poor people will go to the casino over and over again and leave their money there. But the rich do not need to want even more wealth - gambling is entertainment for them. And even after losing a large sum, they can resign themselves and calmly leave the casino and not return for many months.

[moneystery]

each of us may have a different opinion on this, some say that rich people loses more because they gamble more than poor people, but others say that poor people loses more than rich people because the majority of gamblers come from poor people. but whatever our opinion on this matter is correct according to our point of view, and since there is no definite data on this matter we can only assume without being able to say which one is most correct.

but i tend to say that rich people loses more than poor people because they have more money to gamble with.

[gunhell16]

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.

Indeed. Social class won't determine the number of losses, the total funds lost, and the total profit a gambler can make. It really depends on the person's strategy, skills, known information, funds at stake, and luck. So it will really vary. Some people who are excessively gambling regardless of the social status will definitely lose more because of impulsive and irresponsible gambling habits. Meanwhile, those who are disciplined and have control in gambling expenditures will lose less because they can fight their urge to nonchalantly burn their money.

Exactly! It doesn't matter if you're high or low on the social ladder, when it comes to gambling, it's all about your game plan. If someone's going all out without thinking, no matter their social status, they're bound to lose big. But if you're smart about it, keep a lid on your spending, and play it cool, you're more likely to come out on the winning side. So, whether you're a high roller or just playing for fun, staying in control is the name of the game.

Gambling doesn't really talk about what kind of gambler you are; apart from being a rich or poor type of person in the gambling industry, as long as you have money to gamble with, you are welcome to casino gambling here in the cryptocurrency business.

Now, who loses more often between the two? I think that probably depends on the luck that one of them will face. Because the ones I often see who win in gambling when it comes to luck are the poor type of people, and if someone who is rich wins, it is also because of luck, and his gambling bet is also big.

[alani123]

When compared to their income and how much they gamble as part of the total disposable income, surely the poor are the group most affected by gambling.
To the world's poor, even a handful of dollars means securing their family's food for the day. They know they're still gambling with peanuts with what's left, but to them any win is going to be a more impactful break from their every day life than someone that already has most amenities.

However, gambling as a past time can only have negative effects on the long run if someone gambles with big amounts of money based on his own finances.
Governments worldwide should strive to provide their people with better infrastructure and education if they want to break this cycle of poverty.

[masulum]

Now, who loses more often between the two? I think that probably depends on the luck that one of them will face. Because the ones I often see who win in gambling when it comes to luck are the poor type of people, and if someone who is rich wins, it is also because of luck, and his gambling bet is also big.

There is no actual data that can be used as a reference to compare, so we can only assume. But as mentioned in my previous reply, rich people can get bigger wins, because they can bet bigger and for longer durations than the poor. This is the only one in my opinion that is a reference. Luck is necessary, but in terms of playing duration and winnings, rich people definitely have a greater chance of winning.

[bangjoe]

It is true that the average poor person is more affected by gambling and it is basically as a poor person to increase the possibility of luck will change them to get big opportunities, which can change their lives in an instant, especially in the lottery, although it is unlikely that they will try their luck with that kind of thing even though losing is a common habit.

I myself think that it's not that someone who uses bigger money can get more chances of winning than someone who uses smaller money but the fact of the matter is that 100x at $100 and $1000 is different.