Rich or poor gambler, who should risk more?

[Dewi Aries]

Actually, if we talk about gambling, then no matter rich or poor, you are still only allowed or advised to only bet with an amount that you can afford or a risk that you can bear, there are no exceptions in this case.

There is nothing special between rich or poor, meaning that if you are nothing more than an ordinary gambler who comes to bet and relies on luck, then the results at the end of the session will always be about two possibilities between winning or losing, your fate depends on every action and decision you take.

We will not talk about the amount of bets between rich and poor people because of course it will be different because of the difference in terms of financial situation, the point is whoever you are, I will suggest you only bet with 3 - 5% of the total money you have, you can change it but it is advisable not to exceed your ability.

Regarding gambling, keep in mind that only play with what you could afford to lose. Common sense, not rocket science here. This rule holds true for everyone regardless of your rolling in dough or pennying behavior. gambling is about decisions. Every wager you make is a decision, just as the decisions you make in life. What results? Those decisions had these outcomes. Its a game, a mirror of the fluctuations in life.

Dont mistake gaming for a get-rich-quick program. The game itself, the rush of the moment, not only the triumph or loss generates the excitement. Like a rollercoaster, you like the ride; the ups and downs.Though its fantastic, winning is not the ultimate be-all. Its about responsible enjoyment of the experience. Thus, keep it lighthearted, under control, and avoid allowing it rule over you.

Well the point is to bet only using the amount that you can afford to lose, and I think that shouldn't be something that is difficult for anyone to do as long as the goal of making a lot of wins is not in your head, meaning that most likely gambling that is done in moderation can only be done by gamblers who from the start did not make winning their main focus.

So I think that this should be fixed as a whole, in the sense that someone should make sure or re-evaluate themselves about whether they are gambling for entertainment or to make money regardless of whether they are poor or rich, and if you find or realize that you are gambling for profit then immediately fix your thinking in the sense of removing all those goals from your head, because basically of course all forms of action will always depend on what and how your goals are. So when someone has managed to fix everything then I think they will fix all their aggressive actions and decisions in a better direction such as responsible and controlled gambling as you said.

[LUCKMCFLY]

Most of the time both poor and rich gamblers are being move by emotions, even how much the amount they allocate for their gambling without a good control, they can be careless and lose more. Though for some rich gamblers, they have that good limitation inside them as they value their money and not to allow to over exceed from what they can afford to lose, opposite with poor gamblers who are aiming for luck to double what left in their pockets, not all though but most have this kind of thinking.

Well I think that most of them dream of being millionaires and rich, when they see that gambling opens a small window for them to make that dream come true, they do what is in their hands to be able to achieve it, it's just that it's a dead end road, and you have to be very lucky and the odds don't help you, in fact I think that the things that can influence it is that the casino system can adapt to the player to provide a large and net profit, therefore when we are in the casino we have to know well what we are getting into and how we should act to avoid falling into those situations.

[betswift]

Most of the time both poor and rich gamblers are being move by emotions, even how much the amount they allocate for their gambling without a good control, they can be careless and lose more. Though for some rich gamblers, they have that good limitation inside them as they value their money and not to allow to over exceed from what they can afford to lose, opposite with poor gamblers who are aiming for luck to double what left in their pockets, not all though but most have this kind of thinking.

Well I think that most of them dream of being millionaires and rich, when they see that gambling opens a small window for them to make that dream come true, they do what is in their hands to be able to achieve it, it's just that it's a dead end road, and you have to be very lucky and the odds don't help you, in fact I think that the things that can influence it is that the casino system can adapt to the player to provide a large and net profit, therefore when we are in the casino we have to know well what we are getting into and how we should act to avoid falling into those situations.

Totally! It's the risk and people should remember that. It's a road with a lot of profit at hand, but, in my opinion, it's not worth it. A poor man will see in it an opportunity to change his life, whereas the rich - don't.

[nullama]

~snip~
Well I think that most of them dream of being millionaires and rich, when they see that gambling opens a small window for them to make that dream come true, they do what is in their hands to be able to achieve it, it's just that it's a dead end road, and you have to be very lucky and the odds don't help you, in fact I think that the things that can influence it is that the casino system can adapt to the player to provide a large and net profit, therefore when we are in the casino we have to know well what we are getting into and how we should act to avoid falling into those situations.

Yeah, but the main issue is that it's just a mirage.

The most probable scenario is that the gambler ends up even poorer than before.

That's why you don't see wealthy people at casinos, because they know very well that they're going to lose their money there.

They didn't create their wealth gambling, well, maybe a tiny few amount of people, but the vast majority didn't. Unless they were the ones running the casino.

[l3pox]

Get yourself that emotional and lost that control then pretty sure it would incure huge loses and this is something that must be avoided on the time that you would really be playing gambling.

That's right, but basically things are very different, a person when he is playing always does things based on his way of thinking and knowing that he can have a high reward considering his luck, but if his emotions are very compromised within the game, urgent preventive measures must be taken, I recommend balancing and managing the money ready to lose, money that you are willing to lose, no matter how little it is, let's say 10usd, but that is just that, that he does not get the impulse to put in more, and if he gets the impulse to do so, have the willpower and discipline not to do it, thus he will give free rein to his emotions.

a person playing won't always be making their decisions based on rationality, I'd love it to be the case but it's not, most of the times humans are irrational and do things from their emotions
it is just how it is, isn't it crazy?

it never happened to you to make a decision and afterwards think about why you took that decision? not knowing how to explain?

[betswift]

Get yourself that emotional and lost that control then pretty sure it would incure huge loses and this is something that must be avoided on the time that you would really be playing gambling.

That's right, but basically things are very different, a person when he is playing always does things based on his way of thinking and knowing that he can have a high reward considering his luck, but if his emotions are very compromised within the game, urgent preventive measures must be taken, I recommend balancing and managing the money ready to lose, money that you are willing to lose, no matter how little it is, let's say 10usd, but that is just that, that he does not get the impulse to put in more, and if he gets the impulse to do so, have the willpower and discipline not to do it, thus he will give free rein to his emotions.

a person playing won't always be making their decisions based on rationality, I'd love it to be the case but it's not, most of the times humans are irrational and do things from their emotions
it is just how it is, isn't it crazy?

it never happened to you to make a decision and afterwards think about why you took that decision? not knowing how to explain?

It can and will happen, but you shouldn't lean towards it, you should improve, remember what happened previously, and try things differently. That's my opinion.

[nullama]

~snip~
It can and will happen, but you shouldn't lean towards it, you should improve, remember what happened previously, and try things differently. That's my opinion.

In the end it doesn't really matter if you bet differently, the odds are all the same no matter what you do.

You can throw a red or a blue dice, but both will have 1 out 6 chances of hitting a 4 for example.

There is nothing you can do to escape that reality of odds, it's just how the world works.

[LUCKMCFLY]

That's nice , covering of expenses first is a smart move so that you won't endup using money that you budget for something else.

That should be the first thing we should always do, there is no other way, after we have covered our basic needs then we can see what we can spend the remaining money on, although there are other options, saving, buying money, and of course having fun is not bad, it can be in casinos, in things that give us pleasure, it is not bad, but you have to be very responsible, above all that is what matters, for me the important thing is that I can have everything in order with all my obligations up to date.

[hahay]

~snip~
It can and will happen, but you shouldn't lean towards it, you should improve, remember what happened previously, and try things differently. That's my opinion.

In the end it doesn't really matter if you bet differently, the odds are all the same no matter what you do.

You can throw a red or a blue dice, but both will have 1 out 6 chances of hitting a 4 for example.

There is nothing you can do to escape that reality of odds, it's just how the world works.

Therefore, basically poor gamblers and rich gamblers basically have the same risks, and I do not agree if it is said that rich gamblers will take bigger risks because the money they bet is bigger. But after all, even though the amount of money they risk is different, but when we also consider the background they have between rich and poor, then in reality they will still have the same risk.

Except, when rich gamblers only bet with a small amount of money which poor gamblers can also do, then this factor can be said that rich gamblers have no risk because they bet with the same small amount of money as poor gamblers do. So yes, in essence the choice is yours and of course, playing with your own abilities is better then if you follow someone else's playing style.

[l3pox]

Get yourself that emotional and lost that control then pretty sure it would incure huge loses and this is something that must be avoided on the time that you would really be playing gambling.

That's right, but basically things are very different, a person when he is playing always does things based on his way of thinking and knowing that he can have a high reward considering his luck, but if his emotions are very compromised within the game, urgent preventive measures must be taken, I recommend balancing and managing the money ready to lose, money that you are willing to lose, no matter how little it is, let's say 10usd, but that is just that, that he does not get the impulse to put in more, and if he gets the impulse to do so, have the willpower and discipline not to do it, thus he will give free rein to his emotions.

a person playing won't always be making their decisions based on rationality, I'd love it to be the case but it's not, most of the times humans are irrational and do things from their emotions
it is just how it is, isn't it crazy?

it never happened to you to make a decision and afterwards think about why you took that decision? not knowing how to explain?

It can and will happen, but you shouldn't lean towards it, you should improve, remember what happened previously, and try things differently. That's my opinion.

I agree, we learn and become more wise, this helps us to make better decisions in the future and avoid repeating the same mistakes we did in the past.
in my opinion learning and loving and two of the biggest reasons we are in this planet.
makes any sense to you?

[LUCKMCFLY]

The most probable scenario is that the gambler ends up even poorer than before.

But to prevent that from happening, you have to limit your balance for playing, that is, if you have little money, it is best to limit the money for playing and not commit all your money. Personally, that is my strategy, and once things work out, well, otherwise what can happen is that once you lose, you can leave everything there, not bet any more, and that is the most correct thing to do, but you have to have the necessary discipline to not deposit any more money.

[Frankolala]

Most of the time both poor and rich gamblers are being move by emotions, even how much the amount they allocate for their gambling without a good control, they can be careless and lose more. Though for some rich gamblers, they have that good limitation inside them as they value their money and not to allow to over exceed from what they can afford to lose, opposite with poor gamblers who are aiming for luck to double what left in their pockets, not all though but most have this kind of thinking.

Well I think that most of them dream of being millionaires and rich, when they see that gambling opens a small window for them to make that dream come true, they do what is in their hands to be able to achieve it, it's just that it's a dead end road, and you have to be very lucky and the odds don't help you, in fact I think that the things that can influence it is that the casino system can adapt to the player to provide a large and net profit, therefore when we are in the casino we have to know well what we are getting into and how we should act to avoid falling into those situations.

People think that gambling is the easiest way to become rich overnight but it is the opposite because gambling will take the little that you have from you when you see it that way. This is because casinos too are out there to make profit from you through your losses and they will always be the one to benefit more.

Don't gamble as if your life depends on it but rather gamble because you want to entertain yourself and relieve yourself from stress, in that way you can become lucky and enjoy the fun at the same time. A lot of people have been misled by influencers who make gambling wins look very easy which is not true.

[yudi09]

People think that gambling is the easiest way to become rich overnight but it is the opposite because gambling will take the little that you have from you when you see it that way. This is because casinos too are out there to make profit from you through your losses and they will always be the one to benefit more.

The mindset that must be changed if you continue to think that gambling is an easy way to get rich in a short time. This also reminds me of many statements that we often hear from every post related to people's views on crypto.
Only the casino is in the most advantageous position, while gamblers also get a share of the profits if they are able to control themselves with their gambling. Regardless of the purpose of people who gamble for the habit of getting pleasure and testing their luck.

[Dewi Aries]

The most probable scenario is that the gambler ends up even poorer than before.

But to prevent that from happening, you have to limit your balance for playing, that is, if you have little money, it is best to limit the money for playing and not commit all your money. Personally, that is my strategy, and once things work out, well, otherwise what can happen is that once you lose, you can leave everything there, not bet any more, and that is the most correct thing to do, but you have to have the necessary discipline to not deposit any more money.

Yes, that is one thing, and maybe I will also say another thing that should not be forgotten, the idea that you suggested regarding limiting the amount of betting balance I think will not be very helpful to limit unwanted things if from the beginning a gambler does not apply limits to their expectations of winning, meaning these are two things that must be combined to produce perfect prevention.

First, limiting hopes or expectations of winning and secondly limiting the amount of balance that is bet, and maybe I will say another thing that is no less important is self-acceptance regarding risk, because even if you have limits on winning and the amount of bet all of that can end up being useless when you are unable to accept the situation of losing, so those are three things that must be combined in your approach to gambling.

[LUCKMCFLY]

it never happened to you to make a decision and afterwards think about why you took that decision? not knowing how to explain?

Of course yes, and the truth is I got the answer in a book by Livermore, he said that sometimes he made introductory moves that he didn't know why he did, he called them hunches, something that went against all analysis, and most of the time he won, but of course, I bring this here as an analogy that totally applies to the game, and that's where the explanation is, for that reason I have always said, sometimes our instincts, our sixth sense can make the difference, and when it appears my advice is to listen to it both in the game as an introductory and in life.

[Wakate]

People think that gambling is the easiest way to become rich overnight but it is the opposite because gambling will take the little that you have from you when you see it that way. This is because casinos too are out there to make profit from you through your losses and they will always be the one to benefit more.

The mindset that must be changed if you continue to think that gambling is an easy way to get rich in a short time. This also reminds me of many statements that we often hear from every post related to people's views on crypto.
Only the casino is in the most advantageous position, while gamblers also get a share of the profits if they are able to control themselves with their gambling. Regardless of the purpose of people who gamble for the habit of getting pleasure and testing their luck.

Once we start gambling it will be very difficult for us to stop even when we must have accumulated so much loses. Gambling can be quite rewarding and that is why we need to keep doing things that would help us and to make money is the right way. Whether we are rich or average, the rate at which we gamble do not depends on our level of riches. People think different and the kind of result one could be looking for can be quite different from another person. It is good we doing so that we can keep working and upgrading ourselves to make sure that we make some profits for ourselves after improving our strategies.

[yudi09]

-snip-

Once we start gambling it will be very difficult for us to stop even when we must have accumulated so much loses. Gambling can be quite rewarding and that is why we need to keep doing things that would help us and to make money is the right way. Whether we are rich or average, the rate at which we gamble do not depends on our level of riches. People think different and the kind of result one could be looking for can be quite different from another person. It is good we doing so that we can keep working and upgrading ourselves to make sure that we make some profits for ourselves after improving our strategies.

It is not good if gambling is not in planned management even though when you start gambling you will be carried away by the atmosphere that makes it difficult to stop.
I mean, just decide on a planned target with whatever results are received, whether it is a loss or a win. If you lose, don't try to continue by making another deposit if the limit has reached the personal target that we have previously set. Likewise, vice versa until the problem of time spent.
This means that gambling is not a place for us to gain wealth as many people who do not fully understand gambling think.

[ethereumhunter]

I agree with you. Rich people do not have a greater risk than poor people in gambling. When there is a bet with a maximum bet of 20 dollars, a poor person who has 200 dollars can only spin it 10 times while a rich person who brings 2000 dollars can spin it up to 100 times. That's what I said rich people have a smaller risk. But as you said even rich people must be able to manage their finances and avoid losing all their money because of gambling. There are many stories about rich people who became poor because of gambling addiction. Therefore, I think both poor and rich people must be able to manage their finances well.

If poor person use all of his 200 dollars to playing gambling, he will desperate and regret when he lose half or even all of that money because 200 dollars is a big money for him. That will different for rich person because he still have a lot of money to be used for many things but that will not worth to spends that money. Rich people can do many things with his money especially if he has a passive income so he doesn't need to worry if he lose that money.

But whatever it is, rich or poor people better thinks about how much money they should use to playing gambling and with there is no guarantee to wins in gambling, they should know that it is better not to spends too much money. It is better to limits their money to playing gambling than to spends much money which they don't have a big chance to win. Besides that, playing gambling is just for fun and there is no need to use too much money to have fun because we have many things to have fun.

[DaNNy001]

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 is same risk for everyone no matter who poor or who rich. Because of this gambling should always be used as fun. If you think that poor people should take more risk because if they win then they will win big and become rich. Then it will never be fun it will be gambling for income.  One who makes such a plan will become addicted to gambling and suffer a lot. So I can't support the op's plan. no one should take high gambling risk no matter he is rich or poor

You are definitely right, no one should risk more whether rich or poor, gambling should be done for entertainment purposes only, if the poor decides to risk more and goes beyond his limit he might just put himself in a more precarious situation, This might cause some setback to his finances.. The rich also shouldn't even risk more because everyone has a limit that they shouldn't exceed, there are rich people that fell off due to the big risks they took that didn't turn at well, life is all about taking risks but we should always take responsible risks

[betswift]

Get yourself that emotional and lost that control then pretty sure it would incure huge loses and this is something that must be avoided on the time that you would really be playing gambling.

That's right, but basically things are very different, a person when he is playing always does things based on his way of thinking and knowing that he can have a high reward considering his luck, but if his emotions are very compromised within the game, urgent preventive measures must be taken, I recommend balancing and managing the money ready to lose, money that you are willing to lose, no matter how little it is, let's say 10usd, but that is just that, that he does not get the impulse to put in more, and if he gets the impulse to do so, have the willpower and discipline not to do it, thus he will give free rein to his emotions.

a person playing won't always be making their decisions based on rationality, I'd love it to be the case but it's not, most of the times humans are irrational and do things from their emotions
it is just how it is, isn't it crazy?

it never happened to you to make a decision and afterwards think about why you took that decision? not knowing how to explain?

It can and will happen, but you shouldn't lean towards it, you should improve, remember what happened previously, and try things differently. That's my opinion.

I agree, we learn and become more wise, this helps us to make better decisions in the future and avoid repeating the same mistakes we did in the past.
in my opinion learning and loving and two of the biggest reasons we are in this planet.
makes any sense to you?

We may go a bit off-topic with that question, but, yeah, in a way, we love to have a good time, so, it's a genuine feeling having the desire to learn to have a good time, through hobbies like gambling and others