I do not like thread that are long already. I prefer threads that is not more than 1 page long. I went through a long thread this time, some people are quoting me on the thread about who loses more to gambling and I read some replies only to find out that most people are saying rich people are likely to make money than poor people in gambling.
This is the thread
Why the rich win gambling more than the poor. Is this not contradictory? I am not rich and I gamble and lose more. The same story by many rich people. People said you can not win the house. If more people are registered on a casino or a bookie site, the owner of the site will be happy. Because they know they will have more workers and be able to pay them as they will earn more. If you deposit huge amount, the more the happiness because the house would win at last. This is not about rich or poor. And this only shows more that the rich are likely to lose more.
So why are people contacting themselves. They will say the house would win because of house edge. Now they are also saying the rich would win than the poor. Is it not the others way around that the more the rich spend on gambling, the more the money the rich will eventually lose.
When someone who has 100 million dollars lose 1 million dollars in a gambling session, he only loses 1% of his total net worth. When someone who is poor, with perhaps let's say a little less over than $1000 in his person loses 100 bucks, he loses 10% of his total money. From this alone you can discern that those who are poor couldn't fare with the rich people in gambling even if they wanted to. If they lose a million dollars today it's fine, they have multiples of it in their bank account, but when you lose 100 dollars in a single gambling session, you're already in deep deep trouble my boy.
Just cause you lose more money than the poor guy doesn't necessarily mean you lose more in a sense. It's all about the bearing of the money that you lost, rich people gamble millions cause they can, poor people gamble their money away cause they feel like they have to. There's a massive difference in reality as well as in perspectives between the two of you.