Rich or poor gambler, who should risk more?

[Lucasgabd]

But from the application that occurs sometimes we also see a lot of poor people even risking all the money they have even though it is relatively low when compared to those who are rich but still it is still very large for those who are poor because it risks all their money quite boldly.
In fact, there are not a few poor people who do that so when talking about the actual risk it is actually greater for those who are poor than rich.

Because for the rich those who do lose money in a slightly larger amount they must know that they still have a remainder that cannot be calculated when losing a large amount in gambling but it will be different if it is a poor person so in this case it is actually important to look from another aspect not only depending on the amount of bets shown but in terms of risk management that is owned.

You are right. Whether an amount is large or not depends on the income of the gambler. The measurement for what a gambler can afford to lose is dependent on the income of the gambler. What gambler "A" will use for gambling might be seen as small compared to gambler "B" even if it is the same amount. To gambler "B" it might be seen as gambling above his means since such amount might be above 50% of his income. I think whether rich or poor, the risk is the same. Gambling is a game of risk and so every gambler have a risk to shoulder. Ordinary, a rich man is expected to bear more risk but this is not always the case.

The poor have flooded the gambling scene and since they hope to make money from gambling they are always trapped in the fantasy of making millions and escaping from poverty. This selfish mentality account for the reason poor people are know for taking uncalculated risk. Imagine a poor man having $20 and then gambling with $15. This is always the case with most poor gamblers and this is not a responsible way to gamble.

that's why it's probably better to measure money in terms of percentage of total wealth instead of total amount
I see that a lot of what we call rich or poor has to do with people being able to manage their finances and have emotional control too.
calculating risks and knowing how to manage it is a must

[1715576641]

1715576641

[Natsuu]

Daring to take the most risk in gambling, I think rich people because they don't lack money they take risk in gambling anytime. Also, most people gamble for fun and don't mind if they lose money there. But if a poor gambler gambles to change his luck, if he loses money, he must be emotional, for whom it is his greatest risk. When poor people take risks, of course they suffer more if they lose because they cannot afford to risk as much money as rich people. A poor gambler bets with little money and hopes for huge money, but very few people can win such a jackpot. But a rich man who has no shortage of money takes big risks and does not suffer much in his heart if he loses. So I think rich people can take more risk in gambling, but poor gambler never risk much, but he continues to gamble with less money.

Here's the difference. The rich have a lot of money to put in and they just need a small percentage to win and they will be happy with it. On the other hand, the poor have little, that despite of making 10x they are still dissatisfied so they get greedy resulting to losing their winning position. Both probably have the skill to gamble but not the same management on profit and risk.

If rich have 500,000 and make 10%= +$5,000 they will be happy with it
If poor have 500 and make 100%= +$500 they yet they will be greedy and bet more, so they lose their initial win.

[Roseline492]

The risk of losing money is high in gambling. The rich can afford to lose money as they won't get poor by gambling in just one day. The poor can get poorer and eventually try illegal activities to gamble again. I don't think gambling is good for someone who has less money to survive in this world.

That's the difference because the rich has an advantage over the poor in terms of gambling because even if they lose some amounts of money it will not easily affect them because they have were the money is coming either on a daily, weekly or monthly basis, so when most of them gamble they put a lot of money with to get big return but in terms of the poor they can easily get very emotional if they lose a certain amount of money because they don't have were a lot of money is coming from on a monthly basis, so that's why is always advisable for people who doesn't have much to always gamble with what they can afford.

[leonair]

The risk of losing money is high in gambling. The rich can afford to lose money as they won't get poor by gambling in just one day. The poor can get poorer and eventually try illegal activities to gamble again. I don't think gambling is good for someone who has less money to survive in this world.

That's the difference because the rich has an advantage over the poor in terms of gambling because even if they lose some amounts of money it will not easily affect them because they have were the money is coming either on a daily, weekly or monthly basis, so when most of them gamble they put a lot of money with to get big return but in terms of the poor they can easily get very emotional if they lose a certain amount of money because they don't have were a lot of money is coming from on a monthly basis, so that's why is always advisable for people who doesn't have much to always gamble with what they can afford.

Although the rich are constantly getting money from various sectors, if they become too deeply addicted to gambling, then they will continue to spend a lot of money on gambling and will not be able to back up their income for their other expenses. so whether a person is rich or poor he should play a small amount of gambling which does not make him too addicted. and he can lead his life in relax way. and thus they will save themselves from some great harm

[noormcs5]

that's why it's probably better to measure money in terms of percentage of total wealth instead of total amount
I see that a lot of what we call rich or poor has to do with people being able to manage their finances and have emotional control too.
calculating risks and knowing how to manage it is a must

So this would mean that the poor should invest less but i think even if the person is rich, he or she should also invest less in a single bet or game. Since gambling is risky, why would even a rich person take a risk of putting high amount of money (even though he or she can afford to lose that money) ?

The more you gamble with care and taking less risk, the higher are the chances that you can longer remain in gambling and keep enjoying while making small incomes. The moment you try to become greedy, take big risks you will start to lose your money and your portfolio.

For me, no matter you are a poor gambler or a rich gambling, in both cases, there should be no need to invest more.

[piebeyb]

Both a rich man and a poor man do have equal risk in gamble. If a rich man gambles with the amount that he cannot afford to lose, he has risk more. Also if a poor man gamble more than the amount that he can afford to lose, he has risk more. The difference is that if they both losses such amount that they cannot afford to lose. The poor man regrets and such amount can affect him negatively, because it was money made for important needs that he used. On the other other a rich man will only feel such decrease in his finance, but as time goes on, he can recover back the money from his business. Meaning he will only be stagnant for a while.

This is true to the ground that it's excessive gambling both rich and poor are equal, if they bet over their limits meaning to say that they are risking huge amount of money, and we can say that rich people also have that kind of risk taking activities to the point that they can let their finances got ruined because of this kind of addictions.

Not all rich people have that control as even they've got source of funds they can ruined on it and put everything to gambling, same with the poor ones who risk it all and lose everything, money that they can afford to lose and lead them being broke.

Both are the same because playing gambling involves the same risks even though there is a difference in the amount of bets, but usually poor people tend to take bigger risks because they want to win big from the gambling they play, whereas most of the rich people I see gamble just to have fun, but with big bets there is also a big risk, but they still consider it entertainment even though there are a handful of rich people who want to make money from gambling too, but that is the difference from the amount of bets they spend, but they only play at the same risk in gambling.

Every gambler will definitely lose gambling regardless of whether they are rich or poor as long as they gamble according to their budget and don't overdo it, they won't lose a lot of money because they will play in a controlled manner. What you also need to realize is that every gambler must play at their own risk according to the amount. the bets they place, the bigger the bet, the bigger the risk, but the smaller the bet, the smaller the risk, it all depends on the amount of the bet, but basically there is no difference between the rich and the poor. That's just my view and it may be different from the views of other friends on this forum.

[GigaBit]

Gambling an activity for fun also has the chance to turn someone's fortune. Calculated risk when taken in gambling can be the way to big wins from gambling. Who do you think should take more risk in gambling? The rich gambler or the gambler who is not yet rich. If a rich gambler takes risks in gambling, they are risking losing money and becoming poor from gambling, or getting richer, when a gambler who is not yet rich gambles, they can also get poorer or richer, so the gambler who should take the risk should be the gambler who can handle the dangers of the risk like losing too. When a rich gambler loses from taking a risk, there is a better chance of them being in a position to manage with the losses, than someone struggling financially who a big loss will really affect. So, I am confused after asking myself this question and answering it, does this mean a poor gambler should continue to play it safe in gambling? With no risk, how can a poor gambler change their fortune in gambling?

Gambling You usually start gambling with the amount of money you can afford to lose. There are certain tricks in gambling that can be used to win the game. But a gambler can never gamble safely because once he suffers a loss, he will try hard to regain his money. And there will be tension in his house and he will face losses due to gambling addiction. So a gambler must depend on his luck if he wants to win in gambling. But a rich person always gambles in multiple ways which makes it possible for him to win, but a poor gambler will never be able to gamble in multiple ways.

Rich or poor, everyone experiences human pressure in gambling even if there is a strategy. No one can ignore that pressure. Moreover, there is no security in the strategy. But even if a rich gambler loses money, he can quickly arrange his money, which is difficult for poor gamblers. But looking at gambling we can at least say that everyone should take risks whether the gambler is rich or poor. It is not possible to win in gambling without risk. People who can't take risks or bet the kind of money they have to lose are not eligible to bet. Both the rich and the poor must be able to afford the risk. If only the rich gamblers take the risk then only they will win and the poor will only lose money.

[Pi-network314159]

The risk of losing money is high in gambling. The rich can afford to lose money as they won't get poor by gambling in just one day. The poor can get poorer and eventually try illegal activities to gamble again. I don't think gambling is good for someone who has less money to survive in this world.

That's the difference because the rich has an advantage over the poor in terms of gambling because even if they lose some amounts of money it will not easily affect them because they have were the money is coming either on a daily, weekly or monthly basis, so when most of them gamble they put a lot of money with to get big return but in terms of the poor they can easily get very emotional if they lose a certain amount of money because they don't have were a lot of money is coming from on a monthly basis, so that's why is always advisable for people who doesn't have much to always gamble with what they can afford.

That is actually coreect. You know gambling is really for the rich and not for the poor just like you said, that if the poor lost some amount of money, they will panic or become navours of there lost. because there is no steady stream of income to back up there gambling life. but the rich can easily adapt to any system. even if they lost they can be able to continue because they have enough money.

[Mahanton]

The risk of losing money is high in gambling. The rich can afford to lose money as they won't get poor by gambling in just one day. The poor can get poorer and eventually try illegal activities to gamble again. I don't think gambling is good for someone who has less money to survive in this world.

That's the difference because the rich has an advantage over the poor in terms of gambling because even if they lose some amounts of money it will not easily affect them because they have were the money is coming either on a daily, weekly or monthly basis, so when most of them gamble they put a lot of money with to get big return but in terms of the poor they can easily get very emotional if they lose a certain amount of money because they don't have were a lot of money is coming from on a monthly basis, so that's why is always advisable for people who doesn't have much to always gamble with what they can afford.

That is actually coreect. You know gambling is really for the rich and not for the poor just like you said, that if the poor lost some amount of money, they will panic or become navours of there lost. because there is no steady stream of income to back up there gambling life. but the rich can easily adapt to any system. even if they lost they can be able to continue because they have enough money.

Everyone does have that equal chance of losing and winning but just like mentioned that poor ones would really be having that greater disadvantage considering that they are poor and once they have lost those bets or gambling money then they would become that even more poorer.   It would really be just that taking up some realizations of a certain individual whether they would really be that trying out to pursue on something which
we know that once you do bust up yourself then it would really be that so damn hard to recover and this is why it would really be just that right that you should be thinking up realistically on how you should be dealing up with things.

Dont make yourself that get blinded by greed because once you do make yourself do lose control then expect that extreme devastation when it comes to financial aspect is something that you would really be
able to encounter or something that you would really be able to experience into your life on which this one would really be ended up for you to have that huge regret
into your life because of what happened.

[erep]

Rich or poor, everyone experiences human pressure in gambling even if there is a strategy. No one can ignore that pressure. Moreover, there is no security in the strategy. But even if a rich gambler loses money, he can quickly arrange his money, which is difficult for poor gamblers. But looking at gambling we can at least say that everyone should take risks whether the gambler is rich or poor. It is not possible to win in gambling without risk. People who can't take risks or bet the kind of money they have to lose are not eligible to bet. Both the rich and the poor must be able to afford the risk. If only the rich gamblers take the risk then only they will win and the poor will only lose money.

There is no strategy to win in gambling even though you have recorded the game pattern but there is no guarantee of getting the same winning pattern, remember gambling patterns and strategies do not apply in gambling, everyone knows gambling is very risky for anyone and it doesn't matter whether they are rich or poor, but that doesn't mean people who take risks will win but those who take risks will be prone to greed, so control gambling by understanding the problems that gambling must avoid, change your mindset not to get wealth from gambling but focus on gambling only to enjoy pleasure, don't forget to always set limits funds according to your income level and the recommended 5-10% is not too high a fund to gamble for a month and even if you lose it doesn't result in high losses.

[Onyeeze]

When someone should gamble should be when he has an income that is capable to financially have a good family and using just little part of the savings like 5% of his weekly income to gamble. We have said this countless number of times. If you are not receiving enough income, do not gamble. If you are an average, use just 1 to 5% and not more than 5% of your weekly income to gamble. If you are rich, also use 1 to 3% for gambling. But if I am rich, I can not use up to 5% of my weekly income to gamble, I will reduce it. In gambling, if you have the money to spare for it weekly which you can afford to lose, let it be in percentage. If you are rich, better not to use more than 1% to gamble.

many people does not know the actual time to gamble they thought that gambling is meant for everybody and the gambling is a only source of way of eliminating poverty but they don't know but gambling can even make them to lose whatever thing they have because when you are addicted in gambling you cannot do without the gambling you will be gambling almost every day by day and if you are lucky then you benefit from it and if you are not lucky you lose whatever thing you have true gambling that is why it is good to be a pensionable worker before you engage in yourself into gambling

[Woodie]

I don't know about other people's gambling experience,  and I will tell that if you want to win... limit the number of games on the betslip to tilt the odds in your favour and put a decent amount of money that you can afford to lose, but the second you choose to inflate your winnings by making  some insane accumulator your winning chances are lowered instantly !!!

So coming back to the topic, I assume if the Rich gambler isn't taking risky bets then they are more likely to be profitable unless they are greedy which guarantees a bust , but for the other person without the needed funds to stake.. for a tangible profit to be realised they are likely to take  much higher risk as they try to win big from smaller amounts.

[uneng]

many people does not know the actual time to gamble they thought that gambling is meant for everybody and the gambling is a only source of way of eliminating poverty but they don't know but gambling can even make them to lose whatever thing they have because when you are addicted in gambling you cannot do without the gambling you will be gambling almost every day by day and if you are lucky then you benefit from it and if you are not lucky you lose whatever thing you have true gambling that is why it is good to be a pensionable worker before you engage in yourself into gambling

People who think gambling is the only method to eliminate poverty from their lives, they are taking a complete wrong approach towards this activity. Most gamblers are going to lose money the more they play, therefore for most people it's not going to work as a financial life changer. Even if they aren't addicted gamblers, they can't expect gambling to turn their lives around, because that is not what this hobby activity is supposed to do. The debate about gambling is going on through the internet for a long time already and we have already discussed it here many times.

The conclusion is pretty simple: if the goal is to make money, to thrive financially and to achieve prosperity, the individual should seek for alternative ways to do it which don't involve gambling with his money, or at least which don't involve gambling with a large portion of his money, because the chances are that it's not going to end well after a while... Very few people achieved richness through betting and it will be always like that, because that is the nature of the game.

[LUCKMCFLY]

Gambling in such a way that you want to gamble every day is such a bad habit and you could get yourself a gambling habit as well a lot of loses stacked up just because you can't control yourself. So yeah self control is a very good thing for anyone to have and taking breaks when we have much loses can help cool ourselves down a bit.

I think this should be an activity that should not be done every day, in particular I will always say that things are very different when they try to see from the point of view closest to generating better things for our lives, sometimes Sometimes We believe that the casino gives us Happiness , and in part it does, but that happiness can bring us bad consequences, because when it comes to playing and spending a different amount of time, it is our responsibility to be able to do so in healthy peace, without having to risk both a person who risks his money every Day, well for me that is Wrong, Unless he Risks very little at least 2 or 3 usd per day, that is normal for me, but the rest have more money and spend it. every day Nope, it should exceed 20usd, well that is what I would put as a maximum to play in the Week , and per month it is Enough for 80usd so for me that amount is Considerable , then Playing every day is not highly recommended.

Gambling everyday will not help any gambler, when you gamble ones a week maybe every Saturday you not become addictable to gamble just like that, one you are not a regular gambler it would be hard for you to become addicted to gamble.
However, if you says $3 below is a decent amount you can afford to lose that's good because it's not much if you are getting paid above $100 per month. And still gambling with $3 daily might be hard for other gamblers that couldn't afford it. it might not be a bad idea losing $3 per day but the truth is gambling everyday is is not good.

It is very true, the truth is that playing every day is a direct path to a possible addiction and that is something that must be avoided at all costs, I don't know how other people see things, because each person who makes their own bets and plays as regularly as possible.

I say that amount because looking at the amount per month, it is something that is considerable, I would say that perhaps the best thing is to do as you say, on a Saturday to play and have a good time, that is not bad, plus when we are on a weekend It is better to share as a family and then take 10 minutes or 20 minutes to play, it can be done like that.

If we like casinos and we like to gamble, then in some way we must do what we like, we must not inhibit ourselves from doing the things we like, but do it responsibly, without going down the path of addiction, that is what more important.

[arimamib]

... if the goal is to make money, to thrive financially and to achieve prosperity, the individual should seek for alternative ways to do it which don't involve gambling with his money, or at least which don't involve gambling with a large portion of his money, because the chances are that it's not going to end well after a while... Very few people achieved richness through betting and it will be always like that, because that is the nature of the game.

Gambling may offer the allure of quick wealth, but the reality is that it often leads to financial losses rather than gains. Diversifying the income streams and investing in ventures with more stable and predictable returns is generally a more sustainable approach to achieving prosperity. Those people should just seek a job, start a business, invest in stocks or real estate or pursue higher education or skill development for better career opportunities.

The inherent nature of gambling is stacked against the gamblers, making consistent profitability unlikely for the majority of participants. There may be some people who have achieved wealth through gambling, but they are indeed a small minority compared to those who have suffered financial losses. Prioritizing long-term financial stability over the allure of quick wins is better option than what gambling may promise, because the risks associated with gambling often outweigh the potential rewards in the grand scheme of financial planning.

[Accardo]

Yes, I agree with this helpful suggestion. By reducing the number of games chosen as combinations, we can significantly decrease the risk of losing. Many people consistently lose because they select numerous games in hopes of winning a large sum of money. However, it's important to understand that games are primarily based on luck. By minimizing risky bets, we can increase our chances of success. Let's consider a scenario where I've been betting on a combination of teams like Real Madrid, Manchester City, Arsenal, or Liverpool throughout the season. Even if they experience losses, the impact wouldn't be as severe compared to someone who relies solely on luck by combining 25 teams every weekend to win big. It's wiser to select teams with a higher probability of winning and wager an amount of money that one can afford to lose rather than combining multiple uncertain teams.

Seriously speaking, I don't see why gamblers who are familiar with viewing premier league once or twice per week, would pick clubs they don't know in Italian leagues. Your strategy is fine, gambling on teams you are sure will win more than losing in the premier league. However, greed has influenced gamblers, especially low rollers, to blindly gamble for an endless stream of wealth. One aim which like the Red Sea will be hard to cross or achieve. Building up analytical knowledge on a team is a gratifying exercise as a gambler. The losses will be lesser for the gambler. An advantage to smoothly enjoy the gambling process, and no snowing under with work, searching for teams, and analysis. The teams you listed above can surprisingly perform better than most teams in the premier league. And fully deserve to be staked money upon.

Unfortunately, they don't play matches on the same days. Hence, naive low rollers, wouldn't care about a strategy that insists on picking four games or below. Instead, due to the wealth they foresee, the player will pick up more unknown teams to boost his results on the gambling slips. Such behaviors only attract losses rather than wins, unlike gambling on well-known teams. As you said, the teams we watch their matches are better off, compared to strange football teams from unfamiliar leagues. What is the essence of wagering money on a team, one wouldn't watch play. That's a blank idea of gambling. Money fuels such ideas, but painfully the gambler loses. Yet he'll repeat similar mistakes next weekend. Sure, wagering low amounts on a few matches, when we win, attracts lesser profits, but at least there was a win. And it feels better than losing.

[irhact]

I don't know about other people's gambling experience,  and I will tell that if you want to win... limit the number of games on the betslip to tilt the odds in your favour and put a decent amount of money that you can afford to lose, but the second you choose to inflate your winnings by making  some insane accumulator your winning chances are lowered instantly !!!

I think the same too and I noticed that when I have more games, my chances of winning reduce but if I have fewer games I increase my chances of winning. I'll rather bet on one game and put an amount I can comfortably lose than to accumulate many games and put in a very small amount. As you keep losing small amount, you won't know that you're losing money until you accumulate all your losses to see how much you have lost for the period that you have being gambling.

A rich man will bet with a very large amount of money on one game and win big rewards but the poor gambler will think the more he's accumulating games and increasing his odds to use a small money to gamble that he can be lucky to win a big amount and sometimes they gamble for so long and they don't win but have been losing money always that if they finally win they mightn't have much profit left.

[Fredomago]

Every gambler will definitely lose gambling regardless of whether they are rich or poor as long as they gamble according to their budget and don't overdo it, they won't lose a lot of money because they will play in a controlled manner. What you also need to realize is that every gambler must play at their own risk according to the amount. the bets they place, the bigger the bet, the bigger the risk, but the smaller the bet, the smaller the risk, it all depends on the amount of the bet, but basically there is no difference between the rich and the poor. That's just my view and it may be different from the views of other friends on this forum.

We do have differences in terms of treating our gambling activities and same with your opinion as long as you can control the amount of time and money that you'll going to spend then there's no problem and you can prevent yourself getting addicted, though most of the time, addicted gamblers always pretend that they are still in control but unknowingly over exceeded from the suppose allocated budget that they originally set up.

Those kinds of incidence may push you to add more and you'll only know that there's already huge amount that you already lost, both rich and poor can experienced that as there's no exemptions inside gambling mistakes can be done by both parties.

[Lucasgabd]

The risk of losing money is high in gambling. The rich can afford to lose money as they won't get poor by gambling in just one day. The poor can get poorer and eventually try illegal activities to gamble again. I don't think gambling is good for someone who has less money to survive in this world.

That's the difference because the rich has an advantage over the poor in terms of gambling because even if they lose some amounts of money it will not easily affect them because they have were the money is coming either on a daily, weekly or monthly basis, so when most of them gamble they put a lot of money with to get big return but in terms of the poor they can easily get very emotional if they lose a certain amount of money because they don't have were a lot of money is coming from on a monthly basis, so that's why is always advisable for people who doesn't have much to always gamble with what they can afford.

that's true
but something interesting most of us agree on is that even if being rich gives you more freedom and makes you calmer regarding basic problems in life (buying food and paying everyday bills) it won't nevessarily give you a really important thing: emotional awareness
you have to pursue it by other means, not money,

[Bravut]

Gambling an activity for fun also has the chance to turn someone's fortune. Calculated risk when taken in gambling can be the way to big wins from gambling. Who do you think should take more risk in gambling? The rich gambler or the gambler who is not yet rich. If a rich gambler takes risks in gambling, they are risking losing money and becoming poor from gambling, or getting richer, when a gambler who is not yet rich gambles, they can also get poorer or richer, so the gambler who should take the risk should be the gambler who can handle the dangers of the risk like losing too. When a rich gambler loses from taking a risk, there is a better chance of them being in a position to manage with the losses, than someone struggling financially who a big loss will really affect. So, I am confused after asking myself this question and answering it, does this mean a poor gambler should continue to play it safe in gambling? With no risk, how can a poor gambler change their fortune in gambling?

OP am also confuse, because I don't understand how someone will gamble be it rich or poor and not play safe. Whether one is rich or poor it geared towards the level of there risk tolerance in which both risk based on what they can afford to lose comfortably.

It is interesting to know that to stay safe one must consider the risk involved before thinking of the gain, those who have a system of risk management are appreciated in gambling.
So it doesn't matter the social status in gambling, the rich or poor are open to there own decision and gamble the way they choose.

And as such OP, there are two outcome in gambling; Win or Lose.
It is based on how you win, and keep winning more than you lose that determines everything. Nothing really whether you are rich or poor.