Is gambling a weird way of weath redistribution?

[AmoreJaz]

Casinos are not charities. They are in it for financial gain. And thats alright. The issue is, too many people enter a casino believing they will be the next big thing.

Many people getting into gambling with high hopes need to understand this thing. They expect way too much from something which is based on luck and the higher possibility in it is that they are going to lose their money eventually, but they still don't get it.

I have seen people trying to get some money from somewhere so that they can use that money for gambling and earn more money with it, and I've always been telling them to not make that mistake because they are only going to lose the money and get nothing at the end.

Some people think they can make money from gambling if they have a large bankroll but it's nothing more than a myth.

Give it a time and they will learn their lessons the hard way. As it is none of your business to interfere somebody else's betting activities, you are only left to give a piece of advice if the person asks you. But if not, better leave them alone, In their own time, they will realize their own shortcomings when it comes to this addictive activity.

It is no surprise why every gambler has such target, to win or go home big. I believe, it is everyone's target, but how you contain yourself in front of the games will be your advantage from others. If you can stick to your limits and not follow the temptations, then, thank yourself as you won't be in trouble with this habit.

[irhact]

Like I once said, the wealth distribution circulates to a very wide range of people. Gambling is a huge industry, even footballers earn from money made through gambling. Musicians like Drake is also an audible example. The money is been allocated to individuals according to the services they render to the casino. Including those who work directly with the casino. The forum benefits from the wealth made through casino. But, this time it's more of a service rendered, including those mentioned above like Drake does for Stake. Gamblers on the other hand, lose out on the expectation to win. Nothing strange about your thoughts it's valid I guess.

I don't think any individual will start gambling with the mindset that he wants to redistribut his wealth. Everybody is looking for who they can make more wealth and this is the reason many individual are gambling. They get angry when they lose as they don't want to lose money but to make more money. I gamble for entertainment but I didn't throw away money just to give it to another individual.

More of the time it's the sportsbook and casino that makes the most money not other gamblers. If the casinos makes the most then we aren't distributing wealth when gambling but only making the owners rich and they'll keep taking from us since they have workers to pay and other expenses. They too have to make profits therefore they'll want to make more money from us by making us to gamble more with advertisments.

[dansus021]

Wheter you rich or poor the casino owner has the huge benefit here because no matter whether you win or lose the casino is still win and according to your thread he gets cut of 5% on each win to pay salary and etc, this 5% is just part of gambling business and I don't think is wealth redistribution. Because that was the whole of the gambling ecosystem.

The right thing is Gambling is part of the economic of an country and I would consider this very true company sites hire employee and pay taxes to government etc.

[junder]

I don't think any individual will start gambling with the mindset that he wants to redistribut his wealth. Everybody is looking for who they can make more wealth and this is the reason many individual are gambling. They get angry when they lose as they don't want to lose money but to make more money. I gamble for entertainment but I didn't throw away money just to give it to another individual.

More of the time it's the sportsbook and casino that makes the most money not other gamblers. If the casinos makes the most then we aren't distributing wealth when gambling but only making the owners rich and they'll keep taking from us since they have workers to pay and other expenses. They too have to make profits therefore they'll want to make more money from us by making us to gamble more with advertisments.

Indeed, most gamblers are those who gamble because they want to make money, but with them like that, of course they will not be able to accept that the money they bet is lost, it is likely that they will feel annoyed when the money they bet is lost in gambling and that can make they take big risk actions that will get them into gambling and big losses that cannot be avoided. Apart from that, there are people who think they can get rich by gambling because there are wins that can be obtained easily and quickly, but unfortunately it's not like that, because winnings at gambling are not easy to get and are not certain. so it is impossible to gamble to distribute wealth.

with those who have the role of host, of course they are aiming to profit from the large number of people gambling, there is no certainty that players can beat the house. Even though there is some gambling that requires skill to be able to do it, this does not guarantee that they can beat the host who has a greater chance of winning than any other player. Those who think they can get rich by gambling will only make themselves miserable.

[Dewi Aries]

True, and one thing I will say that if only the majority of gamblers knew about this fact then in my opinion it would be unlikely for them to maintain their intentions and goals of earning in gambling, because after all it is clear that the name of the business certainly has the intention and purpose to get a lot of profit, and if we talk about the gambling business then yes of course the casino benefits from the majority of losing gamblers, or simply put the more gamblers who lose (due to acting impulsively) the greater the casino's profits.

Basically, yes, as you said, it is true that gambling is also the same as other businesses that we know,  there is no significant difference with business in general, and maybe the difference is in terms of the product being marketed, they don't have a product to sell, they just  make a game as an intermediary to get profit from their  business.

Casinos are not charities. They are in it for financial gain. And thats alright. The issue is, too many people enter a casino believing they will be the next big thing. They arent. So, what do we do? We speak the truth to them. We teach them the odds. We demonstrate for them the workings of the games. To inform people, not to frightish them away. That is how we give them power. To equip people with the knowledge required for wise decisions.

Im a businessman. I am in love with closing a deal. And the best deals are the ones where both sides feel like they're winning. In gambling, we require a more fair, open playing field. Both commercially and for the consumers, it is beneficial.

Yes, the sad thing is that not many gamblers understand the true concept of gambling, or that means they don't understand what exactly the purpose of the casino is to create a game, and all they know is "the chance to win", that's what they always remember, so over time indirectly when someone is too focused on one thing then they will create various illusions and beauties related to it, as you say that they think or assume that they will be able to become a big man by engaging in gambling, even though it is clear that overall only casinos have the advantage to gain more profits from gamblers.

Therefore, this is why we always advise anyone, especially beginners, to first understand what they are actually doing. Because only by having the right understanding will they be able to make various decisions that are in accordance with their abilities, while when someone only sees from one side such as "chances of winning" then obviously they will not have any preparation to minimize other possibilities that can never be tolerated such as risk.

[piebeyb]

Therefore, this is why we always advise anyone, especially beginners, to first understand what they are actually doing. Because only by having the right understanding will they be able to make various decisions that are in accordance with their abilities, while when someone only sees from one side such as "chances of winning" then obviously they will not have any preparation to minimize other possibilities that can never be tolerated such as risk.

I'm sure those of us who have experience playing gambling have been in that position as beginners and of course there is a lot of experience that is always shared on this forum and we are always reminded to beginners that gambling is not just to make money, let alone a place to find instant wealth, it is It's clearly impossible because that's not the real concept of gambling because what they see is not the same as the facts, usually beginners who come to gamble are not fully aware of the risks because they are influenced by those closest to them or see influencers, let alone streamers.

So all gamblers will indeed end tragically if they cannot control themselves properly and have full awareness that gambling is a game full of risks, so don't just look at it from the perspective of "Chance of winning" it is very old fashioned if you look at the chance of winning because not everyone people can continue to win at gambling too, the point is that before gambling, every beginner apart from having to learn to control themselves, they must be able to have an awareness within themselves that gambling is full of risks so that gambling must use money that is ready to be lost so that undesirable things don't happen when they lose.

[crwth]

The important thing about this is that There is taxes being paid to the government in order for it to have an impact in this situation. It is not weird in a way that it is, but it’s still mostly going to the rich people who owns the casino. I think that’s always the case with the house, but at least there are some people who get paid because they are working there.

Is there something that you are looking for maybe a direct contact to the benefactor, OP?

[Agbe]

I might see it from that angle too because gamblers hit high gain and they can use that amount won to change their social stratification in the society therefore gambling can be used as a means of wealth distribution in the society. Though all depends on the angle the individuals also see it from. Though the gamblers that lose daily are more than the ones that wins yet those who are happy and most of them and most the unaddicted ones utilize the winning to do well. So it is a means of distributing the wealth to the lucky ones. Because even the palliatives the government is sharing to is only the lucky ones received. The wealth itself it is for the lucky ones.

[Volimack]

As far as I am concerned those who are lucky build wealth from gambling but must know how to control themselves. Even if there are many possessions, it is seen that the lucky person loses everything. Gambling can also be a strange way of redistributing the climate because an individual will never bet if social conditions are not good. There are risks involved in gambling. It is seen in many gamblers who feel good about gambling and lose their last bit of money.

[yudi09]

Might be a stupid theory but hear me out on this, we have the gamblers that bet on 1 million, half of them lose, half of them win, the casinos get their 5% share, from this share they pay wages and rent and other costs, cutting the part where the casino gets the money it's that basically gamblers pay the wages of the whole staff manning those, and they also shuffle money between them.

If within 24 hours, the percentage of gamblers playing at the casino is very high with the highest bet to the lowest bet, then the casino owner's income will be very large. Only a small percentage of revenue is used to pay staff and workers in certain fields. Now. In this case, all areas of business will do the same thing, but the gambling business is currently the most effective in my opinion for gaining wealth.
The question is, is the legal aspect ignored?

[Mate2237]

There are some people that I know in my area that using gambling to survive but it is not easy for them because they are not winning everytime. But if they win but for like $100 and above they would use it to buy all the food stuffs in the house and keep one percent to gamble again in the following day and if they lose, it would not bother them again because they have already stocked their houses with food stuffs which can last long for some times and if they win within the period planned for thr items, they would give woman who sells those stuffs some amount of money so that when the once in thr house has finished then they would go and collect again.

Personally I have seen gamblers or people who are purely depending on gambling to survive.

[Plaguedeath]

I wouldn't say it's wealth redistribution, but it's more like an economy circulation.

You spend money to buy groceries, you make the owner rich.
You spend money to buy phones, you make the owner rich.
You spend money to watch cinemas, you make the owner rich.

As long as someone spend their money to buy something, they help the economy circulated instead of stagnant. So, it's not only in gambling, but what you and everyone do are same, you take a part to grow the economy.

[Dewi Aries]

Therefore, this is why we always advise anyone, especially beginners, to first understand what they are actually doing. Because only by having the right understanding will they be able to make various decisions that are in accordance with their abilities, while when someone only sees from one side such as "chances of winning" then obviously they will not have any preparation to minimize other possibilities that can never be tolerated such as risk.

I'm sure those of us who have experience playing gambling have been in that position as beginners and of course there is a lot of experience that is always shared on this forum and we are always reminded to beginners that gambling is not just to make money, let alone a place to find instant wealth, it is It's clearly impossible because that's not the real concept of gambling because what they see is not the same as the facts, usually beginners who come to gamble are not fully aware of the risks because they are influenced by those closest to them or see influencers, let alone streamers.

So all gamblers will indeed end tragically if they cannot control themselves properly and have full awareness that gambling is a game full of risks, so don't just look at it from the perspective of "Chance of winning" it is very old fashioned if you look at the chance of winning because not everyone people can continue to win at gambling too, the point is that before gambling, every beginner apart from having to learn to control themselves, they must be able to have an awareness within themselves that gambling is full of risks so that gambling must use money that is ready to be lost so that undesirable things don't happen when they lose.

Yes, because at first I was also a beginner who did misunderstand how gambling actually was so that in the end I experienced addiction, but thank God I managed to recover by using the methods I created myself, in conclusion, more or less I know enough about the various things experienced and felt by gamblers who have entered the addiction cycle, And one thing I will always advise all gamblers, especially those beginners, to first have the right understanding of how gambling is actually, because understanding is the main key to being able to stay safe in gambling, in the sense that by having the right understanding, it is less likely for a gambler to take various actions that are beyond his ability.

On the other hand, as you said, the initial mistake of beginners is thinking that they will be able to get a lot of money, or think that gambling can make them a rich man, when obviously it is nothing more than a delusion, because the reality is quite the opposite, simply put, instead of earning but what happens is that they lose money in the long run. In essence, there is nothing else I would say and suggest to beginners other than to first understand what gambling is really about, in the sense of understanding that gambling provides a winning opportunity to multiply their money but along with realizing that gambling can lose them even greater amounts of money. This is a neutral point of view that can prevent them from making impulsive actions and decisions.

[goaldigger]

It could be but not all the time because the losers most of the time are ordinary people, and the only winner here is the house.
This could be a money cycle as the number of gamblers reflects the volume of the money though the only difference is the amount of it. Rich people also make money from ordinary people, and how can you distribute wealth where most of the winners are rich people and the losers are the one who don't get that much.

[nimogsm]

There are some people that I know in my area that using gambling to survive but it is not easy for them because they are not winning everytime. But if they win but for like $100 and above they would use it to buy all the food stuffs in the house and keep one percent to gamble again in the following day and if they lose, it would not bother them again because they have already stocked their houses with food stuffs which can last long for some times and if they win within the period planned for thr items, they would give woman who sells those stuffs some amount of money so that when the once in thr house has finished then they would go and collect again.

Personally I have seen gamblers or people who are purely depending on gambling to survive.

the situation is terrible when the player is already driven into the system. In this situation, the casino will be more profitable since system players bring more profit in the long run. What is most interesting is that such players perceive the game as a job and a way of life and therefore it is even stronger than an addiction.

[btc78]

Casinos are not charities. They are in it for financial gain. And thats alright. The issue is, too many people enter a casino believing they will be the next big thing.

Many people getting into gambling with high hopes need to understand this thing. They expect way too much from something which is based on luck and the higher possibility in it is that they are going to lose their money eventually, but they still don't get it.

People are not going to realize just how much harmful gambling is until they themselves experience any kind of losses. They are winning until they are not.

I have seen people trying to get some money from somewhere so that they can use that money for gambling and earn more money with it, and I've always been telling them to not make that mistake because they are only going to lose the money and get nothing at the end.

Even though it’s not my money I feel extremely stressed when someone does that. That’s definitely an easy way to lose all of your money. It’s even worse if that money was made from hard work alone.

[danherbias07]

There are some people that I know in my area that using gambling to survive but it is not easy for them because they are not winning everytime. But if they win but for like $100 and above they would use it to buy all the food stuffs in the house and keep one percent to gamble again in the following day and if they lose, it would not bother them again because they have already stocked their houses with food stuffs which can last long for some times and if they win within the period planned for thr items, they would give woman who sells those stuffs some amount of money so that when the once in thr house has finished then they would go and collect again.

Personally I have seen gamblers or people who are purely depending on gambling to survive.

I have not yet bumped into a person or people who do this thing. Depending on gambling to survive? I don't think I can do that. I mean, it requires capital as always and you cannot go to zero unlike when you are working for a company. What you only need is to survive a week going back and forth to work and the salary comes you can eat as you please.
I think that's a very risky mode of income because there's always that chance where you will lose and there's no going back to that. It's true that it can also pay big amount but still, the risk factor will be a big problem especially when the gambling site is hungry and eats all your balance using the losing streak system which happens a lot of times.

[Frankolala]

There are some people that I know in my area that using gambling to survive but it is not easy for them because they are not winning everytime. But if they win but for like $100 and above they would use it to buy all the food stuffs in the house and keep one percent to gamble again in the following day and if they lose, it would not bother them again because they have already stocked their houses with food stuffs which can last long for some times and if they win within the period planned for thr items, they would give woman who sells those stuffs some amount of money so that when the once in thr house has finished then they would go and collect again.

Personally I have seen gamblers or people who are purely depending on gambling to survive.

the situation is terrible when the player is already driven into the system. In this situation, the casino will be more profitable since system players bring more profit in the long run. What is most interesting is that such players perceive the game as a job and a way of life and therefore it is even stronger than an addiction.

Casinos are always the beneficial of whatever funds gamblers use to gamble and not gamblers because they keep 90% to themselves and only use 10% to pay their winners because 95% of gamblers lose more than they win and you cannot win the house hedge.

This is why one don't need to see the casino as a place where money tree is planted and you want to go and get money from them because you will end up giving them the little that you have to make their own money increase. Gamble for fun and don't forget that winning is based on luck.

[bitbollo]

there is no kind of wealth redistribution.
simply those who have already won are the ones who offer you the game.
if there was real risk in this type of business there wouldn't be so much competition between casinos and bookmakers.

[Kelward]

...cutting the part where the casino gets the money it's that basically gamblers pay the wages of the whole staff manning those, and they also shuffle money between them.

That is the same with all businesses, you pay the salaries of the grocery staffs when you purchase a product, you pay the salaries of the airport workers when you book a flight, money you pay to services are used to keep the service running and leave a good enough profit margin for the business.

Gambling is not wealth redistribution, but involves transfer of money as does everything else we pay for.

- Jay -

Casinos are money making ventures and they redistribute money from their earnings just like any other businesses but the difference is that they reap off their customers far more than they give them. They keep the chunk of their earnings and pay peanut to their staff just like many other business owners. In fairness to gambling companies, although the percentage of gamblers that loses are far more than those that wins but the ones that wins are given many times the amount that they used to gamble.

I regard any business that makes profits and pays people money from it, pays taxes from it to be categorized among wealth redistribution, so from this perspective casinos are included.