Rich or poor gambler, who should risk more?

[nullama]

~snip~
Both rich and poor people suffer almost the same thing when it comes to gambling, losing, and the amount they place on a bet. One thing you need to understand is that if I'm rich, the amount I will be willing to risk will be based on the wealth I have, which is also the same thing that the poor person will do; they will gamble based on what they have and what they can afford to lose.
 
Irrespective of whether the person is rich or poor, if they don't control their gambling, they can still lose it all, losing money without getting it back, and if you, as a gambler, don't draw a line to stop it, it will only lead the person to a day when they will have nothing to place a bet on.

This is true.

At the end of the day what matters is that the expected return of gambling is negative.

That means that the gambler is expected to lose their money over time.

It doesn't matter if you are rich or poor when you start, you will be poor when you end if you keep playing.

[Fredomago]

No one is tired  of winning big,so anyone can risk more,whether rich or poor,I think anything can happen at anytime,thats why it's good to risk more.The rich can become rich today and he will eventually get broke tomorrow if the right thing was not done when he was rich,and at thesame time,if the poor keeps trying,God can eventually favour him and he gets rich tomorrow,but I see that the most important thing here is to keep on trying,keep on risking it because risk takers are future leaders and people that will decide what will happen and what not to happen tomorrow.

In this context the rich will keep losing if he doesn't use his brain to calculate and accept the obvious fact about gambling, because as far as I know gambling to both the rich and the poor way the same risk and at such whatever happens we have to develop a fundamental knowledge of the fact that gambling is a high risk and for that regardless of your class you need to apply that wisdom of not gambling with amount that is way above your risk level.

You need to develop that kind of mentality as even how rich you are but if you keep pushing yourself chances that you'll lose everything and become poorer than poor is not impossible to happen, we heard those stories about gamblers who over play their finances then become broke and regret their participation to gambling, to avoid that, you need to understand that it's better to play with money that you can spare it can be applied with both poor and rich gambler, it should be an amount that spare from your finances that you are willing to let go.

[Dewi Aries]

True, the problem is that most people are too focused on the idea of winning opportunities that exist in gambling, I understand that we live always need money to buy various basic needs but try to at least use your common sense and rational mindset before finally making a decision, because only you yourself will eventually face all the consequences and others will never care about anything you experience.

As I said earlier that most of the gamblers are those losers who want a lot of money but do not want to work and instead depend on winning in gambling, on the other hand I am not saying that you will never win but what is certain and what must be remembered is that gambling has absolutely no element of consistency in terms of producing wins, all of that will only happen by "chance" and this is why it makes no sense to make gambling a place to make a living, the saying goes that your mouth is your harima and your mindset is something that will determine your fate.

I have also heard opinions that some people think players are lazy people because they want to earn money by pressing one button and sitting in front of the monitor. Of course, most of them will be losers, but there will also be someone who can change their life for the better, and it is natural that every player before the gaming session thinks that it will be him. Many people believe in their chosenness and specialness, I would like the players to be more realistic, because they can pay very dearly for this pride.

Yes most people believe in their own beliefs or beliefs but it is a fact that not everyone generates these beliefs and beliefs by using common sense, rational points of view and the right way of thinking, so it's useless for you to boast of your own beliefs and beliefs if basically it is a wrong belief which will actually endanger yourself, and there are enough cases that we can use as evidence that someone who makes or believes in gambling as a place to earn in the end has a lot of problems in his life such as getting into a lot of debt that has the potential to destroy their lives along with damaging harmony in family relationships.

So it is always recommended to use a reasonable mindset and a rational and realistic point of view in responding or responding to everything you find, because we live in an era where there are so many things that look tempting and tantalizing at a glance when in fact it is nothing more than a trap.

[Lucasgabd]

~snip~
you are right
like my old granpa used to say "it's much easier to make money if you have money"
this is the game
the good thing about not making the path to get money so hard to do is that more people can learn it and get there too if they want

easier said than done but not impossible

Yeah, the whole thing is based on the idea that money is somehow a valuable thing to have.

So, if you have money, you can lend it/invest it and create more value with it.

The key aspect is to convert time to money, and then use that money to generate more money instead of time.

Because time is the most scarce thing we have.

The problem is that most societies are designed so that most people just get by after they get paid, so they can't really invest the surplus.

but, isn't it crazy that mind stuff is so much more valuable than body stuff (physical jobs, let's say)
and how speculation that most of the times doesn't generate anything at all pays way better than teaching or building stuff that truly changes people lives?

the world is crazy sometimes...

[Zadicar]

No one is tired  of winning big,so anyone can risk more,whether rich or poor,I think anything can happen at anytime,thats why it's good to risk more.The rich can become rich today and he will eventually get broke tomorrow if the right thing was not done when he was rich,and at thesame time,if the poor keeps trying,God can eventually favour him and he gets rich tomorrow,but I see that the most important thing here is to keep on trying,keep on risking it because risk takers are future leaders and people that will decide what will happen and what not to happen tomorrow.

In this context the rich will keep losing if he doesn't use his brain to calculate and accept the obvious fact about gambling, because as far as I know gambling to both the rich and the poor way the same risk and at such whatever happens we have to develop a fundamental knowledge of the fact that gambling is a high risk and for that regardless of your class you need to apply that wisdom of not gambling with amount that is way above your risk level.

You need to develop that kind of mentality as even how rich you are but if you keep pushing yourself chances that you'll lose everything and become poorer than poor is not impossible to happen, we heard those stories about gamblers who over play their finances then become broke and regret their participation to gambling, to avoid that, you need to understand that it's better to play with money that you can spare it can be applied with both poor and rich gambler, it should be an amount that spare from your finances that you are willing to let go.

Possibilities is there and it do actually happens on which there are tons of rich people who do end up on living or sleeping on the streets just because they had made out themselves losing that control when it comes into their gambling activity. Whereas, if they had just that made themselves that being responsible on the actions that they have done then they might be able to avoid such condition.

It is really just that people are really that too delusional when it comes to gambling on where they've been thinking that they could hit up jackpots and despite of being rich they dont care about on the spending
and the loses that they do have that keeps on piling up. They would really be able to notice it out everything on the time that they dont have money into their pockets in the end.
Risking out money doesnt matter whether you are rich or not, on which the main thing that you would really be ale to experience is to wreck up your life on the time that you do find yourself making
irresponsible decisions on which you should have that avoid earlier if you are really just that been sensible or aware on the  things that happens around you.

[passwordnow]

It is good we know how to fix ourselves so we don't end up doing the wrong thing that would bring severe losses we might not be able to take.

Even if we know how to fix ourselves, many of us don't follow that command that we should fix ourselves first before we head back and gamble. The problem of many doesn't really show at the beginning when we gamble and whether you're poor or rich, it doesn't matter because this problem is going to exist to both people. IMO, fixing the mentality that we have and avoiding being emotional is going to help ourselves fixed.
So, whatever the results may be, we're not going to be heavily problematic with it and most are having hard time in moving on with their losses and stays there for quite a while. That shouldn't be it, as we gamble, risking the amount we can afford and moving on should be there at all times. You have to make sure that whichever is the result, you'd accept it lightly. If not, then do better some other days or just stop wholly so that it won't be heavy to your feelings and you can have a mindset that you should be glad you stopped early.

[nullama]

~snip~
but, isn't it crazy that mind stuff is so much more valuable than body stuff (physical jobs, let's say)
and how speculation that most of the times doesn't generate anything at all pays way better than teaching or building stuff that truly changes people lives?

the world is crazy sometimes...

Yeah, value is king.

It doesn't matter who you are, if you can provide value, you will be rich.

If you are extremely talented, or smart, etc, but not provide value to people, you won't become rich. That's the reality.

That's just how the world works.

[Lucasgabd]

~snip~
but, isn't it crazy that mind stuff is so much more valuable than body stuff (physical jobs, let's say)
and how speculation that most of the times doesn't generate anything at all pays way better than teaching or building stuff that truly changes people lives?

the world is crazy sometimes...

Yeah, value is king.

It doesn't matter who you are, if you can provide value, you will be rich.

If you are extremely talented, or smart, etc, but not provide value to people, you won't become rich. That's the reality.

That's just how the world works.

true, but sometimes value is intangible or not obvious at first glance
Van Ghog's artwork provides value to all humans but he didn't get rich at all during his life...
I guess it's trickier with art
but even with value it's not evenly distributed, otherwise bankers wouldn't make more money than the carpenter who grow our food (what do you think is more valuable?)

[Lidger]

To take risks one must have a propensity to take risks. We often mistakenly think that people with a lot of money are risk takers, but in reality, the opposite may be true. For example, among two people, one person has a net worth of $1000 and the other person has a net worth of $1 billion. Here the first person gambled with a total of $700 from $1000 or did some other risky act while the second person gambled with only a few thousand dollars from his billion dollars.In this case the first person is taking more risk than the second person. Because the first person risked 70% of his money while the second person risked only a little of his total money. Risk taking depends entirely on the individual and the inclination of that individual to risk never depends on money.

[Tmoonz]

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?

Generally, gambling act is associated with risk is risky already but considering the poor and the rich who risk more, I assumed you are referring to who put more resources in to gambling? If that be the case and from my observations within my localized locality I would say that it is the rich that risk more because they have what it takes to do that far better than the poor.

[nullama]

~snip~
true, but sometimes value is intangible or not obvious at first glance
Van Ghog's artwork provides value to all humans but he didn't get rich at all during his life...
I guess it's trickier with art
but even with value it's not evenly distributed, otherwise bankers wouldn't make more money than the carpenter who grow our food (what do you think is more valuable?)

You can create enormous amounts of value for free if you want to (or don't know how to actually obtain payment for it)

For example, the entire modern society relies on a few open source projects that have a handful of developers, which mostly do it for free.

They provide a massive amount of value, for free, or donations based, etc.

The same concept applies.

For example, Steve Jobs and Dennis Ritchie had a very different approach to obtain fair payment for the value they created.

[Dailyscript]

To take risks one must have a propensity to take risks. We often mistakenly think that people with a lot of money are risk takers, but in reality, the opposite may be true. For example, among two people, one person has a net worth of $1000 and the other person has a net worth of $1 billion. Here the first person gambled with a total of $700 from $1000 or did some other risky act while the second person gambled with only a few thousand dollars from his billion dollars.In this case the first person is taking more risk than the second person. Because the first person risked 70% of his money while the second person risked only a little of his total money. Risk taking depends entirely on the individual and the inclination of that individual to risk never depends on money.

The reason why people fill that the ones with lots of money are the highest risk takers is because they have enough money to spend on various things. And i wont doubt that fact because i have seen investors funding projects that they are not certain of the success of the project yet they are willing to fund more because they believe that investing would yield big return that is why they are diversifying their investment. When it comes to gambling such person can stake huge money because they know even if they lose such amount of money they can get it back within some time. An average or poor man only risk the little he have which is not enough for a maximum risk.

[bettercrypto]

The risk placed by the rich is greater than that of the poor type of person. Because the rich have more money, the chances are higher that they are actually capable of having an opportunity to win a winning amount of money on a casino gambling platform here in the crypto space.

But they also take the same risk when playing gambling, whether it is traditional or in the crypto space that we live in today in this business industry.

[Lidger]

To take risks one must have a propensity to take risks. We often mistakenly think that people with a lot of money are risk takers, but in reality, the opposite may be true. For example, among two people, one person has a net worth of $1000 and the other person has a net worth of $1 billion. Here the first person gambled with a total of $700 from $1000 or did some other risky act while the second person gambled with only a few thousand dollars from his billion dollars.In this case the first person is taking more risk than the second person. Because the first person risked 70% of his money while the second person risked only a little of his total money. Risk taking depends entirely on the individual and the inclination of that individual to risk never depends on money.

The reason why people fill that the ones with lots of money are the highest risk takers is because they have enough money to spend on various things. And i wont doubt that fact because i have seen investors funding projects that they are not certain of the success of the project yet they are willing to fund more because they believe that investing would yield big return that is why they are diversifying their investment. When it comes to gambling such person can stake huge money because they know even if they lose such amount of money they can get it back within some time. An average or poor man only risk the little he have which is not enough for a maximum risk.

Everyone works hard enough to earn money, maybe you are very rich and have enough money but you must be careful about your money. You never want your money to be completely lost or a part of your money to be badly damaged. Investing money means using that money to make more money. There are many rich people who have lost all their wealth just by gambling. For those who may have a lot of money, losing some money by gambling will not have much effect on their economic system, but the money they lose by gambling will have to wait some time to recover that money again.  
So I think everyone has illusions of money and with illusions of money everyone takes risks including gambling.

[Dewi Aries]

The risk placed by the rich is greater than that of the poor type of person. Because the rich have more money, the chances are higher that they are actually capable of having an opportunity to win a winning amount of money on a casino gambling platform here in the crypto space.

But they also take the same risk when playing gambling, whether it is traditional or in the crypto space that we live in today in this business industry.

I think if we talk about gambling then the possibility of risk will be directly proportional to the amount of winning opportunities, or what it means is if you say that rich people have a greater possibility of risk than poor people then yes it is true but we also have to remember that the possibility of winning by rich people can also be quite large because the amount of money they bet is also relatively large.

I don't think we can use the financial situation as a measure of who has a greater risk between the rich and the poor, because this is gambling where the possibility of risk depends on how the person treats his gambling activity, simply put if for example they treat gambling in an excessive way such as gambling with large amounts then obviously the possibility of losing the risk will also be large regardless of whether they are rich or poor.

[ethereumhunter]

The risk placed by the rich is greater than that of the poor type of person. Because the rich have more money, the chances are higher that they are actually capable of having an opportunity to win a winning amount of money on a casino gambling platform here in the crypto space.

But they also take the same risk when playing gambling, whether it is traditional or in the crypto space that we live in today in this business industry.

That depends on how those people can accept the risks because some rich gamblers can knows how to manage the risks on playing gambling so they don't lose too much money instead just use enough money to playing gambling. If those poor people can do the same thing like those rich gamblers, those poor gamblers doesn't have to lose much money but they can still hopes to wins the gambling games although not too big. People who can manages the risks will have a chance to minimize the big lose while they can enjoy the gambling games. But most people, no matters if they are rich or poor gamblers can gets tempts from gambling so that will makes them use more money to playing gambling. Gambling can be fun but gambling can also tempts them to keeps playing gambling using too much money. We must realizes about that and don't lets us gets tempts from gambling so we don't lose much money.

[vs2014]

There are many rich people who gamble for fun so you can't compare poor people with them even if you want to. But gambling is dangerous for those who don't have enough money in their pocket to manage their life so i think poor people should not take too much risk in gambling. But there are many poor people who are drunk and bet big money because of the addiction of getting rich but there are very few people who can win this bet and become rich. Also we can't change luck ourselves but in my opinion when you lose repeatedly after trying a few times it's best to stop gambling. A rich man has a high percentage of money so he can bet again even after losing repeatedly and has enough money in his bank for that.

[Gaza13]

The risk placed by the rich is greater than that of the poor type of person. Because the rich have more money, the chances are higher that they are actually capable of having an opportunity to win a winning amount of money on a casino gambling platform here in the crypto space.

But they also take the same risk when playing gambling, whether it is traditional or in the crypto space that we live in today in this business industry.

Yes, this is only a nominal problem, that large groups of gamblers seem to lose a lot of money compared to poor people, they have their own financial capacity. Of course, if the poor experience defeat by having much less money than the rich, at least they will experience a fairly large loss with the finances and capital they risk at the gambling table. Risks and chances of winning. In my opinion, rich and poor both have risks. This depends on how someone struggles in playing the game.

[piebeyb]

I don't think we can use the financial situation as a measure of who has a greater risk between the rich and the poor, because this is gambling where the possibility of risk depends on how the person treats his gambling activity, simply put if for example they treat gambling in an excessive way such as gambling with large amounts then obviously the possibility of losing the risk will also be large regardless of whether they are rich or poor.

Yes, that's right and I also think there is no difference between rich and poor gamblers, it's just that as you said, it depends on the activity, that's true, let's say the rich gambler bets big money this weekend, he definitely knows that gambling is a risky game. of course he will bet, spending the money he is ready to lose according to the amount he wants to bet and according to the budget, this is done in just one day when they gamble, this is also not much different from poor gamblers who sometimes find it easier not to control themselves so they have to gambling all the time and spending small money all the time to make it big too.

So if it is said who takes the biggest risks and loses the most money, there is actually nothing different of course, it all goes back to the activity of the gambler, but this shouldn't be a question either, the point is how poor gamblers can learn from rich gamblers who gamble only for entertainment so that they are still under good control so they don't gamble outside the limits which makes them have to take big risks just hoping to win big even though it is clearly very difficult.  

[Fivestar4everMVP]

The risk placed by the rich is greater than that of the poor type of person. Because the rich have more money, the chances are higher that they are actually capable of having an opportunity to win a winning amount of money on a casino gambling platform here in the crypto space.

But they also take the same risk when playing gambling, whether it is traditional or in the crypto space that we live in today in this business industry.

Yes, this is only a nominal problem, that large groups of gamblers seem to lose a lot of money compared to poor people, they have their own financial capacity. Of course, if the poor experience defeat by having much less money than the rich, at least they will experience a fairly large loss with the finances and capital they risk at the gambling table. Risks and chances of winning. In my opinion, rich and poor both have risks. This depends on how someone struggles in playing the game.

I quite agree with your submission, but I think the long and short of this all is that both the rich and the poor experience loses according to the level of financial stability, those with large sum of money stand the risk of losing much more, while the poor with less amount of money at their disposal risk losing less, all boils down to their individual level of appetite for risk.

And one thing we must also note is that, its also possible for the poor man to lose money that he himself will consider as very huge, meanwhile, same amount of money for the rich man is absolutely nothing, example is one time I lost $100, I was very furious with myself and people around me because that money was way too much for me to lose at a go on gambling, but then, while chatting in a gambling group, and came across some one else who lost $5000 on the same game and didn't even appear to be angry about it lol. 😅