$5 lost by a poor gambler is worth to him than $1K lost by a rich gambler

[Accardo]

The key point here is "Moderation", which I have emphasized in many threads.

Without moderation, alcoholism, gambling and any addictive thing becomes a bad thing. A poor person's 5$ will get saved if they are determined to save it. It is all in the head and they can control it but will not. That 5% lost 10 times becomes 50$, which means that the person actually loses that 50$ over a course of 10days and they is not a small amount - which could be saved.

Big names can afford to waste their money, but poor people need to save.

The question is, why should a broke player wager an amount that is worth so much to him? Moderation demands that players refrain from wagering when he's not financially stable. Such players can focus on other fun activities until their bankroll is sufficient—no need to justify who gets pained between the poor and rich. Gambling works with luck, and players, rich or poor, develop the same feeling when they've lost money.

Everyone believes the rich don't mind losing money, but if a rich player goes further, losing 1k for the tenth time, that would be $10k. No amount of money is too considerable not to be exhausted. The unique thing about the rich is that their cash quickly gets replenished. They own multiple businesses. Players who don't have enough money need to be comfortable with their possessions. They should have the most self-control because their little funds cannot handle all their financial responsibilities.

[len01]

I often say in this forum that big wins or small wins do not mean a large amount but how valuable the money is to each gambler. Maybe a $ 100 win for a rich gambler is not a big value but for a gambler who earns $ 100 in a month, that amount is already very large.
But unfortunately such thinking is no longer useful because as you said that all of that can be destroyed just because of addiction. So poor gamblers also will not care how much money they lose and even have to lose $ 1000 to chase the loss that they never got.

It's all about the mindset of each gambler and if every low-class gambler values the money they have, surely a small win will be a big win for him.

[Die_empty]

Gambling with what's affordable to loose had been an essential administration as gamble is concerned.
We need not to be too risky to gamble with values that would trouble us at when lost.

But in accordance, the poor are more of bridging that context by gambling with their hard earned. Being realistic, they are more eager to profit than the rich gamblers and the values of losts by the poor is more terrifying to them than when the rich losses.
It literally not about the amount lost but what you are able to afford at when lost.

The reason why the poor gamble more than the rich is because some of them think that wealth comes from luck. They are gambling since they think that gambling will bring them out of poverty. To get wealth they end up gambling more than what they can afford to lose. But this doesn't mean that there are no rich people who gamble because they want to get more money.

You are right, gambling is never for poor people. Gambling depends on luck, if luck is good then win if luck is bad then lose. Actually gambling is for entertainment, but it would be wrong for poor people to entertain by losing money. A poor day laborer in our country earns about $5 a day, now he cannot afford his family if he wants to gamble. Gambling is harmful to both rich and poor. Gambling only costs money, few people can profit, so everyone should take a break from gambling. However, rich people will not have financial problems if they lose money gambling, because their income is high.

Someone who earns $5 per day shouldn't gamble with all of them. He can decide to gamble with a little part of the money and enjoy himself. However, every gambler should ensure that his gambling behavior is not affecting his financial responsibility to himself and his family. Although the chances are slim, sometimes gambling can also make a poor man rich.

[aioc]

In short, no one is safe in gambling, even the rich ones, as it's also possible they'll go bankrupt if they don't control themselves. No gambler has unlimited money, so we should all gamble responsibly. Rich people gamble big as that gives them the thrill, and it's the same with poor people, who are also gambling not just to feel the thrill but with the high hopes of winning.

Poor or rich people, no one is safe; whatever amount is involved, you can become addicted starting at a small amount, or you can start at an enormous amount; there's on the same level when it comes to addiction; addiction is when you keep gambling with whatever amount, and you neglect your job, and your family in short gambling has become your priority regardless of the amount, regardless of your status.
When curing gambling addiction, I doubt if professionals will look at status. They will prefer to see the urge and the frequency regardless of the amount.

[retreat]

According to me, a poor person gambles when there is a necessity of money, and on the other hand, a rich person gambles for the purpose of recreation.

Almost all poor people who are involved in gambling have the idea that when they gamble they are trying to double their money and they consider it an affordable investment where one day they could hit the jackpot and change their lives for the better. This mindset is the reason why so many gambling platforms deceive low-income gamblers, by telling them that they should gamble their money because it only takes a few dollars to earn hundreds of dollars. And that's why so many poor people are willing to gamble their money, even though they actually can't afford it, but they still gamble and hope that they can become millionaires in a short time.

[EluguHcman]

The key point here is "Moderation", which I have emphasized in many threads.

Without moderation, alcoholism, gambling and any addictive thing becomes a bad thing. A poor person's 5$ will get saved if they are determined to save it. It is all in the head and they can control it but will not. That 5% lost 10 times becomes 50$, which means that the person actually loses that 50$ over a course of 10days and they is not a small amount - which could be saved.

Big names can afford to waste their money, but poor people need to save.

The question is, why should a broke player wager an amount that is worth so much to him? Moderation demands that players refrain from wagering when he's not financially stable. Such players can focus on other fun activities until their bankroll is sufficient—no need to justify who gets pained between the poor and rich. Gambling works with luck, and players, rich or poor, develop the same feeling when they've lost money.

Everyone believes the rich don't mind losing money, but if a rich player goes further, losing 1k for the tenth time, that would be $10k. No amount of money is too considerable not to be exhausted. The unique thing about the rich is that their cash quickly gets replenished. They own multiple businesses. Players who don't have enough money need to be comfortable with their possessions. They should have the most self-control because their little funds cannot handle all their financial responsibilities.

That is true that whether summing the total lost of a rich gamblers lost, it becomes a huge amount of money and could feel the same disappointed as the poor gamblers total lost of accumulated but the psychological reality response is that.... The poor already feels bad of his losts at the first attempt and as much it goes repeatedly, his is documenting in a recording meaning every single lost to him is treasured but the rich will only have the thought that he last lost today and consistent on his regular incomes would not let him keeping his lost on the tracks because he only knows that he lost and can recover it from his incomes.

So then, the poor gamblers suffers it more despites how little comparing to the rich gamblers bigger losts.

[dansus021]

Money is precious; it doesn’t matter how much you lose. If it’s your hard-earned money, then definitely you will feel bad. Gambling is all about luck; hence, we need to make ourselves aware that if we gamble, then there is a high possibility of getting into losses. Hence, we need to take the risk accordingly and bet with the amount that we can afford to lose. Now regarding poor and rich, if the gambler is rich, then I don’t think he does gambling in a serious tone. According to me, a poor person gambles when there is a necessity of money, and on the other hand, a rich person gambles for the purpose of recreation.

Damn frennn I agree with you in all aspects money is precious and money can be two sides of blades you be a good or bad person because of it, and in this case hard earned money for gambling and losing it definitely gonna feel hurt, and yeah gambling is all about luck.

I mean there are tons of thread that discuss about don't make gambling as an income because the chance is thin, and most of the people here agree. unless you are a super lucky guy on earth haha. Rich people do gamble most of them just for fun based on my perspective an ultra rich people play poker at the table sometimes car is the stake and when they lose they just buy another car.

[STT]

Not if they exist in the same country, the poor gambler needs to stop wasting his time mostly.  If $5 is so precious to him then go earn the money.  Play an instrument on the street and you will get $5 from the rich man as he passes.

Simply said if you have no money, if $5 is what you need for food then you do not gamble at this time you earn and the food is so you can earn more.  Games and gambling is for the time you rest after work, dont waste your precious time its not even about the money at this point.

[Accardo]

So then, the poor gamblers suffers it more despites how little comparing to the rich gamblers bigger losts.

It still levels down to the player's self-consciousness. Both the rich and poor gamblers can end up in debt. If a rich player isn't conscious of his gambling expenses, he could end up like any low-income player who isn't careful. The playing ground is level for both players. Reckless gambling knows no financial status. Haven't you heard of rich players who lost all their fortunes and went broke because of gambling?

[justdimin]

All hands are not equal so at every stage of life there is a particular range of amount that if we lose will hurt so bad as well as a range of amount that we can be able to let go if lose. Even the rich you see, would feel pain if they had lost some certain amount. However, $1k is not an amount that a rich gambler will freak out if he eventually loses it in a bet. Every gambler must know their limit and extent to how much they should gamble in a day whether they are rich or poor.

Depends on what we mean by rich and poor. If we mean someone who makes more than 100k+ a month, yeah losing 1k wouldn't be a problem for them at all, but if we are talking about someone who makes 10k a month, even though that's a rich person in my book, that would be 10% of your monthly salary is gone, if I spend 10% of my salary on gambling on a single loss, I would be quite mad and upset. So as you can see, there are levels to being rich, there are people who make 10k a month who are rich, there are billionaires, which kind of rich people are we talking about?

Also we are talking about levels of poor as well, if someone is making 1k a month in New York that person is poor, doesn't mean they will care about 5 dollars, they won't, but they are still poor, because they are in New York and 1k is nothing there, whereas if they are making 500 dollars in Venezuela or Zimbabwe or whatever poor nation, that's still good and every five dollars would count in that case and they will care. This is why I think we need to be specific about what we mean by when we are talking about rich and poor, those are things with levels and at some levels the statement would be true, in some it wouldn't be true.

[Stepstowealth]

I often say in this forum that big wins or small wins do not mean a large amount but how valuable the money is to each gambler.

In terms of value, which is necessary to mention in this topic, rich people also have different values that they place on money depending on certain factors like how they became rich. While $1000 may not be worth anything to one rich gambler, who maybe got his riches from an inheritance or easily, $1000 to another rich gambler who struggled and really worked hard for money, may actually be worth something, an amount that will hurt that gambler if he loses it. Value placed on money does not come from financial class in the society.

[Jody.Drummer]

I can remember countless times people have talked about gambling what they can afford lose and also gambling is not the only way to get quick wealth but of course it's probably when you hit a life changing bet or jackpot it would be much easier to get rich but then, people turns it the other way round where they don't long gamble for fun instead gamble for profits.
Yes including me most times I don't look at fun moment rather on the profits aspect because no one would be happy if they are catching fun at same time keep losing, because fun is interesting while gaining on the process instead of losing it makes very annoying when running on the minus instead of plus.

Casino creators managed to find that very line when fun turns into a desire to make a profit. It's like in eSports, when someone plays their favorite game for fun and achieves results in it. Such a player then starts thinking: I know this game very well, so why shouldn't I earn money from it and tries to get into eSports. He spends a lot of effort and hours, and stops having fun, but wants money. And usually it ends in vain. And gambling is exactly the same.

Yes and maybe I would say that it is a feeling that may be common to some people, which in the end there are some of them who try to take advantage of the situation and opportunity to try to produce something in it, and this action is done because from the beginning they feel that they are great or already know and are very familiar with the type of game, but in the end of course this is a belief that will only lead them to disaster.

I will confirm or admit that it is a factual scenario about the change in mindset that can happen to a gambler who initially came with only the intention of entertainment and eventually gambled with the intention of earning income, even though it is clear that the great feeling that arose when in the previous few sessions they managed to win should not have been responded to too seriously, because it is clear that it is nothing more than a lucky situation that comes at the right time, and this is why from the beginning a gambler must really understand and be aware in general about what gambling really is and the dangers of the impact of this activity.

[salad daging]

Not if they exist in the same country, the poor gambler needs to stop wasting his time mostly.  If $5 is so precious to him then go earn the money.  Play an instrument on the street and you will get $5 from the rich man as he passes.

Simply said if you have no money, if $5 is what you need for food then you do not gamble at this time you earn and the food is so you can earn more.  Games and gambling is for the time you rest after work, dont waste your precious time its not even about the money at this point.

Being a street musician would be better even it can earn more than $5, don't waste that precious money because you want to gamble uselessly you won't win with $5 capital to gamble.

Why do many people force to gamble they are too hopeful with luck, but if he wisely uses the $5 for other purposes, say the food you mentioned to be able to generate strong energy and can earn more from other jobs it is good than risking it.

I'm sure there are still people who are too pushy with their money to gamble.

[JoyMarsha]

I think it is better to say that, gambler bets according to the volume(amounts) of their pocket. If a gambler should bet with $5 or $1k that's the availability of the amount they can spend on, losing the said amount will make both parties(rich and poor) feel bad because that's a hard earned money that was lost, that can be used to buy something tangible. However, nobody actually jumps around when they lose money in bets, no matter how little it is to them

[Hamphser]

The key point here is "Moderation", which I have emphasized in many threads.

Without moderation, alcoholism, gambling and any addictive thing becomes a bad thing. A poor person's 5$ will get saved if they are determined to save it. It is all in the head and they can control it but will not. That 5% lost 10 times becomes 50$, which means that the person actually loses that 50$ over a course of 10days and they is not a small amount - which could be saved.

Big names can afford to waste their money, but poor people need to save.

The question is, why should a broke player wager an amount that is worth so much to him? Moderation demands that players refrain from wagering when he's not financially stable. Such players can focus on other fun activities until their bankroll is sufficient—no need to justify who gets pained between the poor and rich. Gambling works with luck, and players, rich or poor, develop the same feeling when they've lost money.

Everyone believes the rich don't mind losing money, but if a rich player goes further, losing 1k for the tenth time, that would be $10k. No amount of money is too considerable not to be exhausted. The unique thing about the rich is that their cash quickly gets replenished. They own multiple businesses. Players who don't have enough money need to be comfortable with their possessions. They should have the most self-control because their little funds cannot handle all their financial responsibilities.

That is true that whether summing the total lost of a rich gamblers lost, it becomes a huge amount of money and could feel the same disappointed as the poor gamblers total lost of accumulated but the psychological reality response is that.... The poor already feels bad of his losts at the first attempt and as much it goes repeatedly, his is documenting in a recording meaning every single lost to him is treasured but the rich will only have the thought that he last lost today and consistent on his regular incomes would not let him keeping his lost on the tracks because he only knows that he lost and can recover it from his incomes.

So then, the poor gamblers suffers it more despites how little comparing to the rich gamblers bigger losts.

Those rich people wont really be able to felt it out not until they would really be starting to experiencing those trouble in speaking about finances because usually people would really be that starting
on stopping into something on the moment that they cant literally be able to play just because they dont already have the money that they could really be that making use into.
This is why on the time or moment that you do play gambling then whether you are poor or rich, tendency on losing big time will really be that on the same story. The difference into those
rich people is that they do have that more capital or bankroll on which in compared to those who are poor ones but the chances or odds on losing that big time or tons of money is of course into those
people who are rich. The sad thing about those poor ones is that instead on making use of those funds in other means or important matter, they do really just that tend to took some shot
on playing gambling and hoping for some miracle hit.

[batang_bitcoin]

So since we can not make personal decisions for our fellow gamblers who had lost their prides in chasing the profits on gambling, let keep advocating for carefulness even while compromising the concept of gambling as a game of fun and not to be enriched.

They'll learn their lessons soon. Whether they're a poor or rich type of gambler, what matters to them is they are able to gamble. And apart from that, there will be more from these gamblers to see from their own naked eyes before they realize to act on the right matter. Any amount that someone is going to gamble with, we're always giving that reminder to only gamble with the amount they can afford to lose so that there won't be any regrets in the end or else, they won't forgive themselves and they'll result out into a continuous chase of losses. An addicted gambler, regardless of his financial status, they've got no ears to hear the thoughts of the people that are concerned of their welfare.

[lienfaye]

In all, gambling without sustainabilities of income as you stick to gamble is not just a good place for anyone who is after making profit.

That's true. But many gamblers are still engaging themselves in gambling because of this reason, thinking it's easy to make profit in gambling. So even they're poor and the money they will use in gambling is not what they can't live without (since it's meant for essential things) they still try their luck to play. Then will regret everything after facing losses because that money is valuable and just only wasted in gambling.

Well, regardless of your financial status, it is crucial to use a spare money and don't gamble with a main desire of gaining profit. It's a risky thing to do and one of the reason why there are many gamblers ended up as addicted for chasing their past losses.

[Obim34]

Not if they exist in the same country, the poor gambler needs to stop wasting his time mostly.  If $5 is so precious to him then go earn the money.  Play an instrument on the street and you will get $5 from the rich man as he passes.

Simply said if you have no money, if $5 is what you need for food then you do not gamble at this time you earn and the food is so you can earn more.  Games and gambling is for the time you rest after work, dont waste your precious time its not even about the money at this point.

I also was wondering while will someone who is below average earner /poor wanting to gamble with as much as $5 which turns out a lot more to help him care for himself. It is inappropriate at first because being poor comes with a lot of responsibility on one's shoulders and redirecting that little amount merely earned into any form of gambling is a mismanagement of funds and nothing to justify it.

The rich are entitled to as much as they want to deposit into gambling without being bothered, those amount would not have any ill feelings even if he loses a lot than he should. Why worry simply when the rich has enough and he may not gamble out of wanting to make profits, so him gambling is more of a fun than his survival depends on the profits to be made unlike the poor gambler who is risking that amount because of trying to get profits.

[Stable090]

This is equivalent in gambling, we have as much discussed about gambling not being a good approach to rely on for source of income but a place to bet and gaming for funs but prettily potential to be profited if lucky to win more than the values of your stakes or even losts.

Gambling should be for fun, if you are gambling, then you should have a source of income, because if you don’t have a source of income, you won’t even be able to get money to gamble with. If you are a gambler and you don’t have any means to get money, then if you want to gamble sometimes, you will end up doing crazy things just because you want to gamble, but if you have a source of income, then you will be able to allocate some amount of money for gambling.

So I am trying to pick some statics to understand between the poor and the rich who gambles more for profit.

From the things happening in my community, I will say the poor gamble more for money. Poor people take gambling as a way of making extra money in my community, and at the end, most of them end up addicted to gambling.
 
As a gambler, whether poor or rich, don’t compare yourself with others, don’t gamble with the same amount as others, what they will  lose and won’t affect them, if you lose it, it might cause serious damages for you. So don’t just gamble with a high amount because you see people doing that, our limit is different.

[madnessteat]

~snip~

Poor people are most often not educated enough in finance to use their money for investing. In their mind, investing is too complicated and they think that the probability of losing all their savings in investing is higher than in gambling. In my opinion, many of them will choose to try their luck in a casino rather than buy some bitcoin for a long-term investment. Of course it is everyone's business, but I think that everyone should buy some bitcoin for the future, and play gambling just for fun.