Rich or poor gambler, who should risk more?

[Dewi Aries]

~snip~
In my opinion, if the risk percentage does not change between rich and poor, the rich person perhaps has a better chance of recovering the loss but the loss is a higher percentage and therefore really creates many problems in this regard. The poor man loses little but it is hard for him to recover. So there are pros and cons.

Yeah, I think that's a valid point. In the end the rich person might have a method to generate money, so even if they lose all right now, they might be able to generate it easily.

On the other hand, the poor person might simply depend on a job to pay for his salary, and if that person gets fired, and loses at the casino, then it is really hard to get back on track.

It all depends really...

Well, that's the advantage that rich people have, where they have many ways and opportunities to recover but not through activities that make them lose money, but from other things or other alternatives that they have such as business for example.

As for poor people, I think it's clear that they only rely on one or no more than two places to make money, and even then the income is usually not very good, which ultimately makes it really difficult for them to recover.

So maybe in that situation poor people are much less fortunate than rich people, but in the end regardless of who you are, rich or poor, the point is to never take actions and decisions that are too dangerous in gambling, because not experiencing any problems as a result of gambling is much better.

[betswift]

~snip~
In my opinion, if the risk percentage does not change between rich and poor, the rich person perhaps has a better chance of recovering the loss but the loss is a higher percentage and therefore really creates many problems in this regard. The poor man loses little but it is hard for him to recover. So there are pros and cons.

Yeah, I think that's a valid point. In the end the rich person might have a method to generate money, so even if they lose all right now, they might be able to generate it easily.

On the other hand, the poor person might simply depend on a job to pay for his salary, and if that person gets fired, and loses at the casino, then it is really hard to get back on track.

It all depends really...

Well, that's the advantage that rich people have, where they have many ways and opportunities to recover but not through activities that make them lose money, but from other things or other alternatives that they have such as business for example.

As for poor people, I think it's clear that they only rely on one or no more than two places to make money, and even then the income is usually not very good, which ultimately makes it really difficult for them to recover.

So maybe in that situation poor people are much less fortunate than rich people, but in the end regardless of who you are, rich or poor, the point is to never take actions and decisions that are too dangerous in gambling, because not experiencing any problems as a result of gambling is much better.

Yeah, the stability and well-being of any gambler should be a top priority kept in his own mind, I agree.

[LUCKMCFLY]

But when a poor person loses, it takes a long time to re-accumulate that person's money because he has to work hard and then participate in gambling.

The thing is that when it comes to casinos and gambling, what we try to avoid the most are mistakes. The worst mistakes are when we bet too much, that is, mistakes with increasing the bet. When that happens and you lose, that's when the money goes faster. That's why it's good that when we bet we take into consideration our previous experiences and from there we can do things better, like betting and raising the bet but not so much that we lose money,  That's why adjusting the limit of money to spend is everything.

[Nwada001]

But I think rich people don't suffer much loss to succeed, but they can easily re-accumulate their lost money by gambling again later. But when a poor person loses, it takes a long time to re-accumulate that person's money because he has to work hard and then participate in gambling. In that case, it takes time for the poor to achieve financial success, but the rich can achieve success very easily because of their money.

I'm glad you said "you think" because I don't completely believe in that ideology, which claims that the rich don't suffer much in gambling, as I see both parties suffering almost the same thing in terms of their losses.
 
Let's take, for instance, that if an average person usually gambles with $100 and loses it to gambling, it will be very painful to him or her, and if the rich gamble with $10,000 and above and also lose that same amount to the casino, he or she will also feel the pain. If they deposit another $10,000 in order to make it easy to recover the lost one, the poor can also do that. Let us not forget that both gamblers will gamble with what they can afford and based on their income.

[LUCKMCFLY]

if there is excess greed then it will not take long for a rich person to gamble and become poor.

If such a thing happens, it is because that person who is rich does not have the slightest financial education, because a rich person, despite being rich and having a lot to solve , will take great care of his money and will not be capable of spending a lot and losing, because even if it is 1 dollar it will hurt him, and in fact it should be that way, we should all have that culture with money, I think that if it is like that there will be no gambling addicts because they would quickly understand that gambling is a lie that the money goes away Quickly.

[Hewlet]

But I think rich people don't suffer much loss to succeed, but they can easily re-accumulate their lost money by gambling again later. But when a poor person loses, it takes a long time to re-accumulate that person's money because he has to work hard and then participate in gambling. In that case, it takes time for the poor to achieve financial success, but the rich can achieve success very easily because of their money.

I'm glad you said "you think" because I don't completely believe in that ideology, which claims that the rich don't suffer much in gambling, as I see both parties suffering almost the same thing in terms of their losses.
 
Let's take, for instance, that if an average person usually gambles with $100 and loses it to gambling, it will be very painful to him or her, and if the rich gamble with $10,000 and above and also lose that same amount to the casino, he or she will also feel the pain. If they deposit another $10,000 in order to make it easy to recover the lost one, the poor can also do that. Let us not forget that both gamblers will gamble with what they can afford and based on their income.

the thing about the amount different class of people choose to use for gambling is that the higher your disposable income, the higher the amount you will most likely use for your gambling. And like you've said, that you used $100 to gamble and lost it and another used $100,000 to gamble and still lost it doesn't mean that it pains the one with the bigger amount more or than because he's probably richer, he doesn't feel the impact of the loss. Depending on how valuable the money is for person, loosing $100 could be more painful in certain instances than loosing $100,000. But then, some rich dude might gamble with those huge amount and do it consecutively to a point where it runs them entirely flat. Your level of wealth shouldn't be the reason why you gamble without counting the cost and that others are gambling with a bigger amount should not also make you go into gambling above your financial means.

[betswift]

But when a poor person loses, it takes a long time to re-accumulate that person's money because he has to work hard and then participate in gambling.

The thing is that when it comes to casinos and gambling, what we try to avoid the most are mistakes. The worst mistakes are when we bet too much, that is, mistakes with increasing the bet. When that happens and you lose, that's when the money goes faster. That's why it's good that when we bet we take into consideration our previous experiences and from there we can do things better, like betting and raising the bet but not so much that we lose money,  That's why adjusting the limit of money to spend is everything.

It's essential to have a good time, you are right. And, in the long run, your funds will thank you greatly for your responsibility, in my opinion

[ethereumhunter]

if there is excess greed then it will not take long for a rich person to gamble and become poor.

If such a thing happens, it is because that person who is rich does not have the slightest financial education, because a rich person, despite being rich and having a lot to solve , will take great care of his money and will not be capable of spending a lot and losing, because even if it is 1 dollar it will hurt him, and in fact it should be that way, we should all have that culture with money, I think that if it is like that there will be no gambling addicts because they would quickly understand that gambling is a lie that the money goes away Quickly.

Those rich person know how to use their money with right. They can use for many things that will benefit them and if they playing gambling, they will not use their time too long because they have many things to do. Rich or poor people will risks their money if they can control how much money they use to playing gambling. But many times we see that people who doesn't have much money will trying to use gambling to make money but they playing gambling without limit so they lose much money in gambling. That makes them get the big risks of playing gambling which gives them a big lose so that will must be avoided because they will only lose again if they can not control themselves. They can playing gambling but with limitation so that will not gives a big risks for them to enjoy the gambling games.

[madnessteat]

However, gamblers have many types of mistakes in their approach due to which they face losses. Both classes of gamblers make mistakes, not the difference between the rich and the poor, if they are not experienced in gambling, they will surely lose. But I think rich people don't suffer much loss to succeed, but they can easily re-accumulate their lost money by gambling again later. But when a poor person loses, it takes a long time to re-accumulate that person's money because he has to work hard and then participate in gambling. In that case, it takes time for the poor to achieve financial success, but the rich can achieve success very easily because of their money.

I think you're mistaken. If you have capital, it does not mean that it is easier for you to multiply your money. An example of this can be thousands of bankrupt companies that had huge amounts of money in circulation before bankruptcy. Besides, a poor person like a rich person can invest his money in cryptocurrencies, stocks, bonds, etc. That is, he has all the same tools to not only protect his money from inflation, but also to multiply it. Why they do not use these tools is a big question.

[noormcs5]

However, gamblers have many types of mistakes in their approach due to which they face losses. Both classes of gamblers make mistakes, not the difference between the rich and the poor, if they are not experienced in gambling, they will surely lose. But I think rich people don't suffer much loss to succeed, but they can easily re-accumulate their lost money by gambling again later. But when a poor person loses, it takes a long time to re-accumulate that person's money because he has to work hard and then participate in gambling. In that case, it takes time for the poor to achieve financial success, but the rich can achieve success very easily because of their money.

I think you're mistaken. If you have capital, it does not mean that it is easier for you to multiply your money. An example of this can be thousands of bankrupt companies that had huge amounts of money in circulation before bankruptcy. Besides, a poor person like a rich person can invest his money in cryptocurrencies, stocks, bonds, etc. That is, he has all the same tools to not only protect his money from inflation, but also to multiply it. Why they do not use these tools is a big question.

You are right here that the rich person can misuse his money and get a loss more than the poor or a middle class person. It is not about having ample amount of money but it is more about having strategically better approach  with which a person can invest and double or triple his money and not lose it.

The first thing is to have a plan on how to do good investment in anywhere including gambling and then when a person find some perfect strategy then if he is rich then he can get more rich quickly as compared to the poor person because he do not have the money to invest in the right approaches.

[summonerrk]

if there is excess greed then it will not take long for a rich person to gamble and become poor.

If such a thing happens, it is because that person who is rich does not have the slightest financial education, because a rich person, despite being rich and having a lot to solve , will take great care of his money and will not be capable of spending a lot and losing, because even if it is 1 dollar it will hurt him, and in fact it should be that way, we should all have that culture with money, I think that if it is like that there will be no gambling addicts because they would quickly understand that gambling is a lie that the money goes away Quickly.

Those rich person know how to use their money with right. They can use for many things that will benefit them and if they playing gambling, they will not use their time too long because they have many things to do. Rich or poor people will risks their money if they can control how much money they use to playing gambling. But many times we see that people who doesn't have much money will trying to use gambling to make money but they playing gambling without limit so they lose much money in gambling. That makes them get the big risks of playing gambling which gives them a big lose so that will must be avoided because they will only lose again if they can not control themselves. They can playing gambling but with limitation so that will not gives a big risks for them to enjoy the gambling games.

But all poor people also have little time. A poor person has no time to rest, because he constantly works to feed his family. Let's agree that we will not take into account slackers who lie on the couch, because their path is stupid and understandable, and over time they will only come to a dead end.
So, that's why I think that both the rich and the poor spend their time equally on casinos. Although, of course, among these financial categories there will be exceptions. I am sure that even among the rich there are plenty of those who are lazy and do nothing.

[danherbias07]

if there is excess greed then it will not take long for a rich person to gamble and become poor.

If such a thing happens, it is because that person who is rich does not have the slightest financial education, because a rich person, despite being rich and having a lot to solve , will take great care of his money and will not be capable of spending a lot and losing, because even if it is 1 dollar it will hurt him, and in fact it should be that way, we should all have that culture with money, I think that if it is like that there will be no gambling addicts because they would quickly understand that gambling is a lie that the money goes away Quickly.

The rich trying to keep themselves rich which is why it is very rare for them to gamble.
Those who got rich from being a poor guy are the ones who have more gambling problems because they have not experienced these things back when they had no money yet.
I had a friend before whose father sold their property and every son and daughter got a hefty amount of share. But because my friend didn't experience a good life which is going to bars and casinos, he did try it all when he had the money but it was all wasted so fast that he didn't even notice that he did not have enough money anymore to feed himself.
Financial managing is very important. Poor or rich. Gambler or not.

[Dewi Aries]

if there is excess greed then it will not take long for a rich person to gamble and become poor.

If such a thing happens, it is because that person who is rich does not have the slightest financial education, because a rich person, despite being rich and having a lot to solve , will take great care of his money and will not be capable of spending a lot and losing, because even if it is 1 dollar it will hurt him, and in fact it should be that way, we should all have that culture with money, I think that if it is like that there will be no gambling addicts because they would quickly understand that gambling is a lie that the money goes away Quickly.

Those rich person know how to use their money with right. They can use for many things that will benefit them and if they playing gambling, they will not use their time too long because they have many things to do. Rich or poor people will risks their money if they can control how much money they use to playing gambling. But many times we see that people who doesn't have much money will trying to use gambling to make money but they playing gambling without limit so they lose much money in gambling. That makes them get the big risks of playing gambling which gives them a big lose so that will must be avoided because they will only lose again if they can not control themselves. They can playing gambling but with limitation so that will not gives a big risks for them to enjoy the gambling games.

Yes, that's what I think, or I mean I think it's unlikely for rich people to treat gambling impulsively, because they usually have good management and allocation of the money they have, as you said that rich people know how to use their money properly, and it is proven that their success in becoming rich is because they are different from poor people, in the sense of having good financial management and knowing how to use money properly.

This means I think it's unlikely for them to make gambling a place to make money, because usually they will first see what and how the place they want to use as an intermediary to multiply their money, simply if the place does not have good potential and also does not have a guarantee to always make a profit then usually they will not choose that place, which means I think that the most likely people who make gambling a place to make money in my opinion are middle class or poor people.

[l3pox]

~snip~
100 * 100 will be $10000, but, you are right. Usually the rich won't lose anything, and the poor would lose a lot because he has fewer funds and sees gambling as an opportunity to change the situation in their life.

I don't agree with this at all.

Rich people lose all their money, all the time.

You can see it live if you go to a casino. I wouldn't recommend it, but it happens all the time.

They may lose everything they've prepared, but they have a lot to spare, whereas someone poor - probably not Of course, if a rich person isn't responsible at all and can't see the bigger picture - he will go all-in all the time losing much of his fortune.

you are correct that a rich person has more disposable income and will end up being able to afford losing more often but this is if they're not exponsing themselves to the risk of ruin
you know?

if someone bet it all and simply all in with their full stack they can end up poor at the blink of an eye
I saw this happening more than once and it's not beautiful

I may agree, but, as you said - it's if putting it all onto one session, which is not how things are done even by the rich And shouldn't be done by anyone, really.

that's for sure
nobody should risk it all, even if you can get away with it once or twice the third time you'll blow up
that is just too much risk for anyone to bear
yolo is ok but up to a point
right?

[ethereumhunter]

But all poor people also have little time. A poor person has no time to rest, because he constantly works to feed his family. Let's agree that we will not take into account slackers who lie on the couch, because their path is stupid and understandable, and over time they will only come to a dead end.
So, that's why I think that both the rich and the poor spend their time equally on casinos. Although, of course, among these financial categories there will be exceptions. I am sure that even among the rich there are plenty of those who are lazy and do nothing.

Even poor people have a little time, if they often to playing gambling, they will return to casino and playing gambling and hopes they can win some money. Those people must realizes that they don't have to risks too much money for playing gambling because the risks for losing the money will be big and when they lose, that means, they will difficult to fill their daily needs. They will better use their time to search for a way to make money even if they only have a little time to do that.

We can only hope that people out there, whether they are rich or poor people must not risks too much money because they have their own things to fill. They must cares with their life and family and not just playing gambling because their life is the important thing than gambling. If they can understand what is their priority in their life, they will not spends much money to playing gambling and when they playing gambling, they will manage the risks not to become big.

Yes, that's what I think, or I mean I think it's unlikely for rich people to treat gambling impulsively, because they usually have good management and allocation of the money they have, as you said that rich people know how to use their money properly, and it is proven that their success in becoming rich is because they are different from poor people, in the sense of having good financial management and knowing how to use money properly.

This means I think it's unlikely for them to make gambling a place to make money, because usually they will first see what and how the place they want to use as an intermediary to multiply their money, simply if the place does not have good potential and also does not have a guarantee to always make a profit then usually they will not choose that place, which means I think that the most likely people who make gambling a place to make money in my opinion are middle class or poor people.

Rich people I mean really rich people know that gambling is only a fun activity that they can do in their spare time so they will not use too long to playing gambling and risks too much money. They can separate their routine activity and gambling so they can enjoy their spare time by playing gambling. But poor people often playing gambling because they think that gambling can gives them a short way to make money although that will not always happen to them. If that is the case, poor people will have big risks than rich people because they can use more money which they don't have to use it.

Playing gambling need good management in allocating the money because if not, they will spend too much money because of the excitement that they get from gambling whether they are rich or poor people. That is why both rich and poor people must know about the risks and really need to manage the risks so they don't have to face a big risks by playing gambling. But what happen in many places, middle class and poor people use gambling to make money so they will risks much money than rich people. That is only if they don't care with themselves and only want to make money from gambling so they must stops that for their own goods.

[madnessteat]

However, gamblers have many types of mistakes in their approach due to which they face losses. Both classes of gamblers make mistakes, not the difference between the rich and the poor, if they are not experienced in gambling, they will surely lose. But I think rich people don't suffer much loss to succeed, but they can easily re-accumulate their lost money by gambling again later. But when a poor person loses, it takes a long time to re-accumulate that person's money because he has to work hard and then participate in gambling. In that case, it takes time for the poor to achieve financial success, but the rich can achieve success very easily because of their money.

I think you're mistaken. If you have capital, it does not mean that it is easier for you to multiply your money. An example of this can be thousands of bankrupt companies that had huge amounts of money in circulation before bankruptcy. Besides, a poor person like a rich person can invest his money in cryptocurrencies, stocks, bonds, etc. That is, he has all the same tools to not only protect his money from inflation, but also to multiply it. Why they do not use these tools is a big question.

You are right here that the rich person can misuse his money and get a loss more than the poor or a middle class person. It is not about having ample amount of money but it is more about having strategically better approach  with which a person can invest and double or triple his money and not lose it.

The first thing is to have a plan on how to do good investment in anywhere including gambling and then when a person find some perfect strategy then if he is rich then he can get more rich quickly as compared to the poor person because he do not have the money to invest in the right approaches.

I have the feeling that many forum members think that a rich person gets money easier than a poor person. That's a misconception. Everything depends on the person himself, not on how much money he has. There are many examples when a poor person has achieved very great successes in his life and the reason for this was only his aspiration, desire to become better and hard work. A poor person remains poor because he is afraid to experiment, to learn something new, to take risks, to use his money correctly. So the chances are equal for everyone - in real life and in gambling.

[Docnaster]

However, gamblers have many types of mistakes in their approach due to which they face losses. Both classes of gamblers make mistakes, not the difference between the rich and the poor, if they are not experienced in gambling, they will surely lose. But I think rich people don't suffer much loss to succeed, but they can easily re-accumulate their lost money by gambling again later. But when a poor person loses, it takes a long time to re-accumulate that person's money because he has to work hard and then participate in gambling. In that case, it takes time for the poor to achieve financial success, but the rich can achieve success very easily because of their money.

for you to admit that the effect of losing in gambling by both rich and poor aren't the same simply means that you know much about gambling. Losing money in gambling is one painful experience you wouldn't want happen to you so regardless of one's social/financial class the effects of losing in gambling is almost the same. But for the rich, it's easier to recover his losses through other ventures that fetches him money but to the poor, it'll take so long to overcome the pains of losing money. Personally, I feel the poor shouldn't take huge risk in gambling since it'll be extremely difficult for them to afford the effect of losing huge.

[Dewi Aries]

Yes, that's what I think, or I mean I think it's unlikely for rich people to treat gambling impulsively, because they usually have good management and allocation of the money they have, as you said that rich people know how to use their money properly, and it is proven that their success in becoming rich is because they are different from poor people, in the sense of having good financial management and knowing how to use money properly.

This means I think it's unlikely for them to make gambling a place to make money, because usually they will first see what and how the place they want to use as an intermediary to multiply their money, simply if the place does not have good potential and also does not have a guarantee to always make a profit then usually they will not choose that place, which means I think that the most likely people who make gambling a place to make money in my opinion are middle class or poor people.

Rich people I mean really rich people know that gambling is only a fun activity that they can do in their spare time so they will not use too long to playing gambling and risks too much money. They can separate their routine activity and gambling so they can enjoy their spare time by playing gambling. But poor people often playing gambling because they think that gambling can gives them a short way to make money although that will not always happen to them. If that is the case, poor people will have big risks than rich people because they can use more money which they don't have to use it.

Yes, what I mean is also in that direction, my friend, people who are truly rich definitely know what makes sense and what doesn't, they have a rational way of thinking in every response to everything they find, although of course they will not be free from failure, but when they dedicate themselves to the right place, in the end the failure will turn into success and not including gambling, it doesn't mean they are not involved at all in gambling, but what is certain is that they most likely only make gambling a place to fill their free time without putting any hope of always being able to make money.

On the other hand, one of the reasons why I assume that poor people are people who are most likely to make gambling a place to make money is that we can see from their financial situation, they will never like losing money because it is clear that they are in a difficult situation in their finances. Gambling for entertainment will only be done by people who are ready to lose money, meaning I am quite sure that poor people come with the intention of multiplying the money they bring along with high hopes.

[Pandu Geddon]

Yes, what I mean is also in that direction, my friend, people who are truly rich definitely know what makes sense and what doesn't, they have a rational way of thinking in every response to everything they find, although of course they will not be free from failure, but when they dedicate themselves to the right place, in the end the failure will turn into success and not including gambling, it doesn't mean they are not involved at all in gambling, but what is certain is that they most likely only make gambling a place to fill their free time without putting any hope of always being able to make money.

On the other hand, one of the reasons why I assume that poor people are people who are most likely to make gambling a place to make money is that we can see from their financial situation, they will never like losing money because it is clear that they are in a difficult situation in their finances. Gambling for entertainment will only be done by people who are ready to lose money, meaning I am quite sure that poor people come with the intention of multiplying the money they bring along with high hopes.

yes, you are right, and what poor gamblers do tends to prefer to increase the risk of their gambling. such as betting more than their previous allocation. They hope to win a larger amount of money. and of course, poor gamblers do not like to lose because it will worsen their finances if they end up betting more than what they can afford to bet.

although rich gamblers also have high risks in determining bets. but poor gamblers are more likely to dare to increase the risk than rich gamblers. the impact received by gamblers is certainly different when they experience loss.

gambling always allows us to win. but also allows us to lose. so whatever we bet should have been considered within the limits of each gambler's financial tolerance.

[slapper]

~snip~

Yes, what I mean is also in that direction, my friend, people who are truly rich definitely know what makes sense and what doesn't, they have a rational way of thinking in every response to everything they find, although of course they will not be free from failure, but when they dedicate themselves to the right place, in the end the failure will turn into success and not including gambling, it doesn't mean they are not involved at all in gambling, but what is certain is that they most likely only make gambling a place to fill their free time without putting any hope of always being able to make money.

On the other hand, one of the reasons why I assume that poor people are people who are most likely to make gambling a place to make money is that we can see from their financial situation, they will never like losing money because it is clear that they are in a difficult situation in their finances. Gambling for entertainment will only be done by people who are ready to lose money, meaning I am quite sure that poor people come with the intention of multiplying the money they bring along with high hopes.

Wealthy people are not magical decision-makers. Their chip count on the table is simply more. They can consider gambling as a game and afford to take measured chances. Loss is a teaching moment rather than a life-altering tragedy

Let us now discuss, though, those who find it difficult to make ends meet. Calling them gamblers? That's bullshit. They are playing as the system is skewed against them, not for enjoyment. They are desperate, and bad bets follow from it

It's about opportunity not about intelligence or stupidity. The impoverished lack options; the privileged do. So ask yourself: what decisions do people truly have before you criticize someone for purchasing a lottery ticket?