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

[junder]

That is why gambling is more suitable for those who already have money and not for those who are looking for ways to earn money. Gambling is a hobby activity poor individuals can't afford to maintain in most cases, otherwise they are going to be heavily prejudiced from the financial point of view, becoming unable to thrive financially. Realistically speaking, poor individuals should stick themselves to lottery tickets from times to times, while rejecting every other categories of gambling.

It is not recommended for those who do not have money to gamble because if they have mediocre money then if the money is for gambling they may not be able to eat for the next day, so gambling is for those who have financial balance.
Try to think of a little valuable money but for gambling he doesn't care about other things then this can certainly be a disaster for poor people so don't force it and indeed gambling is more for entertainment that way they also have other sources of income to be able to play gambling not from the main income.

[boyptc]

If the poor does have money to gamble, it means that he's really into it. Someone who's poor and doesn't have that much will not think to gamble but will sustain first their needs.

But we hear a lot of those stories that they don't even that have much and yet, they still are allotting money to gamble.

While the rich, they can move freely and spend as much as they can for which is not going to move them a fortune even if they lose that money or bankroll to start with.

[stomachgrowls]

That is why gambling is more suitable for those who already have money and not for those who are looking for ways to earn money. Gambling is a hobby activity poor individuals can't afford to maintain in most cases, otherwise they are going to be heavily prejudiced from the financial point of view, becoming unable to thrive financially. Realistically speaking, poor individuals should stick themselves to lottery tickets from times to times, while rejecting every other categories of gambling.

It is not recommended for those who do not have money to gamble because if they have mediocre money then if the money is for gambling they may not be able to eat for the next day, so gambling is for those who have financial balance.
Try to think of a little valuable money but for gambling he doesn't care about other things then this can certainly be a disaster for poor people so don't force it and indeed gambling is more for entertainment that way they also have other sources of income to be able to play gambling not from the main income.

The main reason on why poor people would really be doing gamble is that they would really be that hoping that they could really be able to make huge with gambling or hitting up some jackpots
without even trying to look at on the possible risks that they are really that facing on, on the time or moment that gambling will really be wrecking up their balances then this is the only moment that they
will really be making up some realizations on which this is something that will really be that commonly be happening on a certain individual. Rich or poor, it doesnt matter on what are your financial status or
standing because in talks about financial then there's no way that you could really be able to make yourself getting exempted on losing money.

The key on here is that you wont really be that losing the money that you cant really be able afford to lose because on the moment that you do make yourself that being that desperate
then this is where disaster do usually happens. This is why it would really be that important that you should really be realistic and having that sense of responsible acts on dealing
with gambling so that you wont really be ending up on having those huge regret because you had just that become that impulsive.

[Casdinyard]

It's just paradox of value unfolding before your very eyes. Depending on your current needs and affordability, some things may seem more important to you than to others. In this case you have the poor guy with his 5 bucks and the rich man with 10000 USD in his bankroll. When you come to think of it, if the poor man plays with a $5 bet and is on a daily salary of 10-16 dollars which is last I checked, the standard wage for a blue-collar worker in the US, you're practically betting 33% of your daily wage down the line, compare that to someone with a million in his bank account playing with 10000 dollars, and you have someone who's practically betting a little less over than 1% of his total net worth, totally not fair if I do say so myself.

So yeah, goes to show that you can't just make silly bets even if it's for a dollar, you have to know your financial capacity more than your risk appetite, cause you can have the appetite for gambling of a millionaire but if you're a wagie you're basically cooked.

[CryptoHeadlineNews]

As for the riches tending to gambling for profits, even if they looses $1K + such as we have Drake has been, he actually don't feel so disappointed of the lost why? Because he has more and could afford so even while gambling for profits, they are not much financially or emotionally affected as the poor who can not afford the least lost on gambling.

That's true, and the big difference between these two types of people is that while the likes of Drake has multiple sources of income where they generate funds from, when it comes to these poor people is that they have gambling as the only source of revenue to them, of which if they eventually bet a game and lose, they feel disturb, as that might have been their only hope of getting money for daily needs. Hence, if you are either rich or poor, every gambler should at least always learn to gamble according to his means.

[EarnOnVictor]

What you expressed in this post is the same as the somewhat popular topic in this section where the distinction between the rich and poor is being discussed. For me, the difference between how the two classes feel about money is subject to the volume of the money. As the poor do not have much, they can only spare less to gamble if they are reasonable, while the rich who have more can spare more. However, the two classes will always have their limits depending on their financial status, we always do, except we are not being sincere.

That is why I do not like to talk much about the distinction between them but gamblers have plans for their risk and money management before they head for gambling to avoid issues. We have to protect our pockets in all ways possible and maintain responsible gambling habits. I wonder why a poor person who can only afford $1 for gambling risking $20, that's foolishness and a sure invitation to gambling problems.

[nullama]

That is why gambling is more suitable for those who already have money and not for those who are looking for ways to earn money. Gambling is a hobby activity poor individuals can't afford to maintain in most cases, otherwise they are going to be heavily prejudiced from the financial point of view, becoming unable to thrive financially. Realistically speaking, poor individuals should stick themselves to lottery tickets from times to times, while rejecting every other categories of gambling.

Once the individual reaches a comfortable life status, then it's possible for him to give himself the right of being a gambler, and that is: only for entertainment purposes. That is the most reasonable balance I can think about on how gambling can be introduced in someone's life without further prejudice. The problem is that it's not how gambling is being promoted nowadays, rather gambling is being promoted as a source of extra income by different social influencers, what triggers the interest from poor people who is struggling to survive.

But what if the rich person gambles 100x the amount the poor person does? They will end up in the same situation.

The thing is that the odds are the same for rich and poor, and it's only the amount that is different.

So, if the rich person bets the same percentage of money, then they will also be in exactly the same situation as the poor person. Actually both end up with zero.

[Fivestar4everMVP]

Well, on a general level, op is very right, specially with that which he said in the thread title, a $5 dollar loss of a, or to a poor man is worth a lot to be honest, and I have my experiences as well, like 4 to 5 years ago, I could or can not afford to loss even a dollar, because I was that poor, and this made me stay away from any thing that could be risky, specially gambling.

But in 2022, I became better, much better in terms of finance, for the first time in my life, I lost approximately $3000 to gambling, though it was a very crazy experience for me, the shock and trauma was capable of killing, but somehow, I managed to scale through it..

But in the same year, 2022, a student of a university, not far from where I live, lost approximately $350 to sports betting, 5his money was his school fees and that of his friend put together, he could not bear the loss, he ended up committing suicide.

So, in essence, its the higher or better we become financially, the more or higher the risk and loss we are able to bear.

[Jawhead999]

But what if the rich person gambles 100x the amount the poor person does? They will end up in the same situation.

The thing is that the odds are the same for rich and poor, and it's only the amount that is different.

So, if the rich person bets the same percentage of money, then they will also be in exactly the same situation as the poor person. Actually both end up with zero.

That's true, but at least the rich gamblers can make money by becoming live streamer or record and share their gambling session. People will amaze with rich gamblers who spend a lot money to gamble, but no one cares when they watch poor gamblers, they think the money the gamblers bet is like nothing money.

We can't deny that become rich has so many privileges.

[EluguHcman]

That is why gambling is more suitable for those who already have money and not for those who are looking for ways to earn money. Gambling is a hobby activity poor individuals can't afford to maintain in most cases, otherwise they are going to be heavily prejudiced from the financial point of view, becoming unable to thrive financially. Realistically speaking, poor individuals should stick themselves to lottery tickets from times to times, while rejecting every other categories of gambling.

Once the individual reaches a comfortable life status, then it's possible for him to give himself the right of being a gambler, and that is: only for entertainment purposes. That is the most reasonable balance I can think about on how gambling can be introduced in someone's life without further prejudice. The problem is that it's not how gambling is being promoted nowadays, rather gambling is being promoted as a source of extra income by different social influencers, what triggers the interest from poor people who is struggling to survive.

But what if the rich person gambles 100x the amount the poor person does? They will end up in the same situation.

The thing is that the odds are the same for rich and poor, and it's only the amount that is different.

So, if the rich person bets the same percentage of money, then they will also be in exactly the same situation as the poor person. Actually both end up with zero.

You need to understand something here about this categorized Rich and Poor gamblers, the painful point of time a poor gambler experiences on gambling is right from the first lost because sometimes it could be their last cash which they literally decided to give trial if they could double it on winning the bet.
And as for the Rich gamblers, they begin to have that regrettable experiences of their lost at a total accumulated losts meaning they could afford the first round lost (s) on before they betted excessively.

There is no just amount that is affordable for the poor gamblers to loose while the rich will always be affordable to highily amount of lost.
So, consistent gambling on higher amount would be the only option to ruin a rich gambler.

[DubemIfedigbo001]

Everybody has their own individual financial capacities from all walks of life, the poor lose money in gambling as well as the rich. There is no ratio to evaluate the equivalence of loss when compared in both parties because wealth and poverty isn't evening distributed.

No one enjoys losing money, some rich people are still provoked when they lose small funds in gambling because no one gets richer by losing, so it's a mentally stuff and not a measure of their wealth. What Mr. A would be comfortable to lose might not be what Mr. B would want to lose not minding that they're in the same wealth level.

Let both the rich and the poor gamble with funds that they can afford to lose.

[Fivestar4everMVP]

If the poor does have money to gamble, it means that he's really into it. Someone who's poor and doesn't have that much will not think to gamble but will sustain first their needs.

But we hear a lot of those stories that they don't even that have much and yet, they still are allotting money to gamble.

While the rich, they can move freely and spend as much as they can for which is not going to move them a fortune even if they lose that money or bankroll to start with.

Well, not every poor man who is gambling is really into gambling, you and I know that it's still possible to make money off gambling, and any poor man gambling is only trying his or her chances to see if he can win, make money to sort out some of his life issues.

Gambling is not something that Is reserved for the rich alone, there are several poor people who have become rich through money they won from gambling, this is possibly why today, we have alot of poor people gambling, not just because they wanna have fun, but simply as a means for them to make money.

[mirakal]

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.

When it comes to gambling, regardless if the players are poor or rich, they share the same goal, to win and make more money. However, the only difference is that rich gamblers have more probability to win and make more money because they can even bet more after a series of loss, while poor gamblers once they lose their bets, they end up leaving the casino and start to wander where to find money again, not actually to gamble but to buy their necessities in order to survive. The point here is people should never gamble if they are not using their spare money, otherwise they will mess up with their finances and ruin everything.

[AmoreJaz]

Everybody has their own individual financial capacities from all walks of life, the poor lose money in gambling as well as the rich. There is no ratio to evaluate the equivalence of loss when compared in both parties because wealth and poverty isn't evening distributed.

No one enjoys losing money, some rich people are still provoked when they lose small funds in gambling because no one gets richer by losing, so it's a mentally stuff and not a measure of their wealth. What Mr. A would be comfortable to lose might not be what Mr. B would want to lose not minding that they're in the same wealth level.

Let both the rich and the poor gamble with funds that they can afford to lose.

Though as you said, no one enjoys losing their money, but the logic presented by the OP somewhat makes sense. If the gambler is not well-off and he is just using his extra money, every dollar counts for him. Whereas, for a rich gambler, losing thousands may not be as painful as with the poor gambler losing his only remaining few bucks.

[Odusko]

The bigger question is, who is considered to be a poor person and who is a rich gambler and who is a poor gambler because at a point gambling doesn't categorise such classes of customers, but then life depends on individual and each between the poor and the rich all work for they money and the level of risk taken by each individual is what brings the desired ultimate satisfactions, so let not say that rich gambler feel less pain when he lose money as if he is a super human without feelings.

Ruches is a product of hard work, so is poverty a product of laziness and lack of accuracy in risk taking, without emotions we have to Settle between the two and also making sure that we don't misunderstand both ourselves and other and to remain focused, gambling Luck's can happen to anybody regardless of their class, but the pain each feels from they loses depends on their level of experience and financial risk management.

[alani123]

I'm surprised that this is even a thing we have to discuss. For instance I have to say that this should be common knowledge but apparently our educational system does close to nothing to teach about how big wealth inequality is
 We never learn to question the financial system as it stands and therefore very few people are knowledgeable enough to think like this from the getgo on their own.

Of course for countries where the vast majority of the population is living in poverty or is at risk, it would make sense to try and reduce the exposure of the general population to gambling. But rather sometimes the governments in such countries use gambling as a way to get a better grip on their population and enrich themselves from it instead of protecting people or distributing wealth more equally.

[Hispo]

...
Of course for countries where the vast majority of the population is living in poverty or is at risk, it would make sense to try and reduce the exposure of the general population to gambling. But rather sometimes the governments in such countries use gambling as a way to get a better grip on their population and enrich themselves from it instead of protecting people or distributing wealth more equally.

I have been a witness of it, actually. Here in Venezuela there was a time when the crisis was so bad, that there was a very rapid proliferation of casinos and gambling institutions in the poorest towns of the country. Somehow, the poor only found hope and distraction from their suffering by wagering the little they had to animal roulettes and cock fighting.
Since then gambling as stayed, but not as much as before, though. I would not be surprised if there were some government involvement with those quickly established casinos, because one needs an important amounts of money to build and operate thousands of small gambling houses across the country...

[STT]

Its not the poorness that counts, its the ability to re-earn what you have lost.   Rich people have lost it all and because they inherited the money, they couldn't ever get it back which is as serious a loss as can be.   If money and luxury is your whole personality, imagine you had to start over in the middle of life.

The 5$ loser has the advantage despite being poor it shouldn't be too hard to rearrange that bet after working to get some more money.  They are limited, they might be poor but so long as they are able to do more work they can repeat that bet in future.

Its better to be a poor man learning the world even if lose everything you aint lost alot.    To get great riches now you are in a burden of responsibility, you have far further to fall in life; you cant bet small because it feels like a zero bet vs your riches.

   You can be cursed with wealth I swear but its very hard to realize as most of us are poor comparatively.  Its the Midas effect, all the Greek fables are eternal wisdom

[darkangel11]

You're underestimating the rich by saying that $1k is like $5 for a poor guy. Many rich people have such incredible net worth they buy yachts worth $50 million. To them $1k is like nothing. They could give you $10k because they like something you said, just like that. They take a shit on a toilet bowl worth $10k
Don't worry about how the rich feel. Don't you have more important things to worry about than what these people spend in casinos?

[Lanatsa]

Everybody has their own individual financial capacities from all walks of life, the poor lose money in gambling as well as the rich. There is no ratio to evaluate the equivalence of loss when compared in both parties because wealth and poverty isn't evening distributed.

No one enjoys losing money, some rich people are still provoked when they lose small funds in gambling because no one gets richer by losing, so it's a mentally stuff and not a measure of their wealth. What Mr. A would be comfortable to lose might not be what Mr. B would want to lose not minding that they're in the same wealth level.

Let both the rich and the poor gamble with funds that they can afford to lose.

Though as you said, no one enjoys losing their money, but the logic presented by the OP somewhat makes sense. If the gambler is not well-off and he is just using his extra money, every dollar counts for him. Whereas, for a rich gambler, losing thousands may not be as painful as with the poor gambler losing his only remaining few bucks.

No one really likes on losing money and this is why its a common approach or reaction on things that you would really be thinking up on something positive but we do know that everything could really happen in gambling on which it would really be causing up for you to have that kind of impulsive feeling on the moment that you are losing money. No one likes on losing money and this is something inevitable. Just like the rest been saying that it doesnt matter whether you are that a rich or poor gambler on which odds or chances of losing would really be the same. The only difference into those people who are wealthy is that they are really that able to make out some immediate adjustments if ever that their gambling strategy is really that making thats tons of loss on which its a common approach by someone.

$5 for others or poor people but this one will might be consider a thousand. This is why when playing gambling then the best thing that you should do is to play on the amount on which you can afford to lose.
Never ever go beyond with your limits because on the time that you would really be having such action then sooner or later you would really be having that kind of issue in  terms of finance.
Its never been recommended that you do really focus up too much on how to make money with gambling because it cant be just that possible all the time.