THE POOR RISKS LITTLE TO WIN BIG WHILE THE RICH RICKS BIG TO WIN LITTLE

[_act_]

The get-rich-quick mentality is killing society, not just the poor. The rich gamble big, but often won't even miss the money they lost. The poor gamble small, and regularly, it's the little they have that should be used for other purposes, and will certainly be missed for something more important.

Someone that is rich can be gambling and become poor from it. Both the rich and the poor need to be careful about gambling. Gambling can make the life of anyone that is not gambling responsibly to be bad. As long as they can afford to lose the money and if the money is very little, that is the amount of money that is good for gambling. We have heard stories of rich people that died poor because of gambling.

[ozgr]

What you said is true not for gambling, but for stock market investments.
Low odds and low bets usually result in losses. When I add a match with 1.1 odds just to complete my bet slip, I mostly lose.

Poor people take more risks to win because they have nothing to lose..

[YOSHIE]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Indeed, the situation, the rich and poor people if united until the world of world is not united, the proverb will be valid until the world's doomsday, the situation has been going on for centuries and until now.

Likewise in gambling, where if the rich bet once places enough bets and when compared to the poor they have to bet 10x and get a position like the rich.

I think life in this world does not side with the poor, the rich have a war in all fields, especially the economy, you can go to the casino Physical See the ratio of rich people with poor, indeed far from fire, be it service or drink or food dishes, that is the life of the world.

[danherbias07]

I always say it's a choice for us when you are an average gambler. You don't need to replicate what those rich people do and just be satisfied with what you get. Also, you don't lose much in case the result goes south. Using your example, they will lose $10000, while we are going to lose only $5 for a chance of $5000 if everything goes right.

Do not forget, they are risking their money too, which means they will lose more if their prediction doesn't go well, although the chances are higher than those who bet on the underdog or a parlay. It will hurt more to lose that kind of amount than just $5.

[tsaroz]

Not at all. Gambling is all about luck specially for the example you have given. It's not an income opportunity or investment.
Whether to risk little to win big or risk large to win small would depend on the person. What is big or small would be determined by the financial condition of them but the risk they are taking on each bets would be the same, in that sense, gambling is equal for everyone. The chances or rich winning or poor winning would be exactly the same.
That doesn't mean a poor should gamble like a rich. The best thing for poor person who is concerned about their money should not gamble at all. Gambling should only be done with spare money which you could afford to lose.

[rachael9385]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000 

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

Both categories of gamblers are still going to lose but I would rather be the gambler that ris little even though I'm rich. Chasing 1.10 odds with $10000 to me is not a rational thing to do even though it seems like a safe bet but there's nothing safe about gambling, it becomes more of a problem when you try to make it a source of income.  I would rather risk little to win big so just incase I don't end up winning losses would be minimal

[panjul07]

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000 

The question, can it be used to generalized the real situation in this gambling word? I dont think so because gamblers has their own way to gamble regardless they are poor or rich.
I do like to bet small to hunt big multiplier and I do it most of the time, does it mean that I'm categorized as poor just because my betting style/strategy?
On the opposite site, betting big on low odds does not mean that the gambler is rich, who knows? because a poor can do a YOLO bet with all his money with low odds.
Sorry to say that I do not agree with your conclusion as what you write in the title.

[jcojci]

That saying does not go to gambling, I guess because the chance to win will be for all gamblers. The problem is that not many people, rich or poor, have their luck come at the right time. Even if the richer have much money and they can place any bet amount they want, they will not have a bigger chance to win.

But I agree with the saying that the get rich quick mentality is killing the poor if they can not use it in the right place. However, gambling is not the place so they need to find out by themselves.

Poor people can win much from gambling IF they have luck. But most poor people will keep try to win by playing more. They believe that they can win someday and they just need to playing daily.

[Dr.Bitcoin_Strange]

The example you gave is not usually how it works, both the rich and the poor still bets on the game that they believe they will have a high chance to become successful. Not every poor gambler wants to bet on 1000 odds and not every rich gambler wants to bet on a 1.1 odd game. Some rich still wants to bet on a game with high chance of win but not just with a small odds. The odds could be way up to 3.00. Small odds can most times lead to big losses too.

[Agbamoni]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000 

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

I want to continue your Ex:
Rich lost $11,000 with odds 1.10
Poor lost $5 with odds 1000.

This is a very brilliant response to the OP.
The rich might get richer quicker not because they pick the smaller odds but because they have more money to cover up the expenses once they lose. At the same time, since they gamble higher, they lose the highest if their bet dont go as plan. Most times, the little odds tend to be the one that cuts the most. So yea, when we are looking at the positive side of betting on low odds with high amount we should also look at the negative side too.

[len01]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000 

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

That saying doesn’t really work when it comes to gambling. If you think rich people easily win big amounts, you’re way off. Don’t assume a 90% chance of winning is always easy, I’ve tried betting $100 multiple times and lost a few times. Remember, casino games are all about luck, and even rich gamblers betting $10k don’t always find it easy to make $1,000.

And if you know, there's a wealthy gambler who wagered $1m on a sports betting at odds of 1.01 and ended up losing. Many wealthy gamblers have become poor, and this is one example of how gambling is simply a place to have fun and try your luck, not to gain wealth.

[OgNasty]

The day I lost 1.01 odd bet was the day I knew the gambling can make the rich to become poor. I am not saying that I am rich but you can understand what I mean by that.
...
Just gamble responsibly.

You always have to make sure the juice is worth the squeeze.  I couldn't imagine ever risking money on a bet that could only pay back 1% if I won.  That is asking for a loss in my opinion.  If it's about the money, investing is a far better way to make small amounts of money. 

Gambling should always be risk/reward balancing.  I've long thought that the way to be a successful gambler isn't to try and guess the outcome, but to bet the odds.  What I mean by that is weighing the risk/reward and deciding if it is a good risk at that price, or a bad risk. 

A good exercise is to decide on a bet and what you think the odds should be, then look and see if the odds are better or worse than you thought they would be.  If it is worse, maybe don't make the bet.

[₿itcoin]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000  

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

Bruh the rich poor betting disparity is not an case of odds, it is bona fide mathematics. It is pretty obvious that massive bankrolls will let you to take edge  of sharp sizing such as the Kelly Criterion to take heighest advantage of longterm growth & to evade wrecking. However people who have very tiny cash & are trying to hunt big odds are not in truth investing but are just vie for for lottery. It is almost a guarantee that these folks would after a bit  end up losing all their funds due to the gamblers ruin as limited money against the house edge statistically means loss. as well  inequality drives more desperate, risky investments in less wealthy districts, making a feedback loop of harm. Well yea you are not only getting screwed up by luck but systemic maths & income polarity are also hitting you.

[yahoo62278]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000 

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

Why can't the poor guy bet the same way as the rich guy and build his bankroll over time? The rich guy can also lose 10k in that 1 bet while the poor guy only loses $5 on his long shit bet. Many different ways to look at it but at the end of the day, the goal is to profit. Doesn't matter the size of your bet, just the outcome.

[peter0425]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000 

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

If they can afford to risk $10,000 they probably won’t be that happy with a 1k worth of profit. But if you only bet a dollar and managed to win 1k then that would make the gambler very happy I’m sure. It’s really all about the initial bet and the perspective of the gambler.

[Ivystar5]

You will think it's that easy to win when you have the said 90% of chance of wining but you will be amazed that you the poor wanting the little win with only 1.10 odds will still loss them you will understand that gambling is beyond that! fact remains that rich getting richer is the fact that they can stake high with the same game you will stake little hence if you win $5000 with your $ they play same game with you staking $5000 then the rich definitely will get richer but not in the sense you think of it.

[Pi-network314159]

This makes gamble a game of luck to the poor and a game of strategy to the rich.

Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000  

With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.

and who told you this maths works in gambling? for your information there is a high tendency to lose in whichever way you chose to gamble. the theory should be the rich are getting poor while the poor are getting poorer, because in this space the poor stake lesser amount and if they lose , they lose the amount they are comfortable with, but if the rich lose they lose heavily. for instant if a rich man gambled $20k with just 2 odds and it cuts, it means that such person had just loosed $20k. so when next you make your analysis try as much as possible to include the risk involved not only the profit, since the rich have a high chance of lose than the poor.

[Potato Chips]

At the end of the day, the high risk, high return will apply for every players. Returns are still not guaranteed, and the rich punters can definitely get burned especially if they don't manage their risk appetite appropriately.

There should be many stories out there about rich losing most, if not, all of their wealth. Most infamous one I know is Terrance Watanabe. Once a millionaire but lost his wealth due to gamba. And sadly had to raise money because he couldn't afford medical treatments anymore.

[TelolettOm]

You will think it's that easy to win when you have the said 90% of chance of wining but you will be amazed that you the poor wanting the little win with only 1.10 odds will still loss them you will understand that gambling is beyond that! fact remains that rich getting richer is the fact that they can stake high with the same game you will stake little hence if you win $5000 with your $ they play same game with you staking $5000 then the rich definitely will get richer but not in the sense you think of it.

Winning with a 90% chance is actually similar to advertising the odds, which claim a 90% chance of winning. As you said, the chance of winning in gambling isn't that great; it's just a pipe dream.
Even if you do win, it's due to luck, and luck can't be completely on your side every time you gamble. At least, this is true for most gamblers so far.

But unfortunately, there are many people who believe in this chance and end up going all-in or gambling repeatedly using various methods and types of gambling. Slots are the most common among gamblers from all walks of life, especially the lower-middle class.

And the end result? They win $100 but lose $1,000. And it will always be like this.

[AmoreJaz]

At the end of the day, the high risk, high return will apply for every players. Returns are still not guaranteed, and the rich punters can definitely get burned especially if they don't manage their risk appetite appropriately.

There should be many stories out there about rich losing most, if not, all of their wealth. Most infamous one I know is Terrance Watanabe. Once a millionaire but lost his wealth due to gamba. And sadly had to raise money because he couldn't afford medical treatments anymore.

A very good example that a gambler should be very smart in managing their money, else, he can easily end up broke. And do remember, no one will help you if you are in a very dire need situation and mostly, only your immediate family will only give you the support that you need. So before you put yourself in a terrible situation owed to gambling, better think of your immediate family first.
If we will list those unfortunate stories owed to gambling, we surely have a long list. Even not the popular ones, you can already witness that around you, or in your neighborhood. So before you put yourself in a tight spot, better think of the repercussions of what you are doing with your funds. Secure it in savings or other investments before you go broke with gambling.