Quote from: Fortify on Today at 05:33:01 AM

Quote from: Queentoshi on February 07, 2024, 07:35:11 AM

Gambling an activity for fun also has the chance to turn someone's fortune. Calculated risk when taken in gambling can be the way to big wins from gambling. Who do you think should take more risk in gambling? The rich gambler or the gambler who is not yet rich. If a rich gambler takes risks in gambling, they are risking losing money and becoming poor from gambling, or getting richer, when a gambler who is not yet rich gambles, they can also get poorer or richer, so the gambler who should take the risk should be the gambler who can handle the dangers of the risk like losing too. When a rich gambler loses from taking a risk, there is a better chance of them being in a position to manage with the losses, than someone struggling financially who a big loss will really affect. So, I am confused after asking myself this question and answering it, does this mean a poor gambler should continue to play it safe in gambling? With no risk, how can a poor gambler change their fortune in gambling?

This is a good illustration of having the wrong mindset and it is often projected by people who have little money. How much you're starting with should be pretty much irrelevant to your judgement of risk on the bet. You should only be betting what you can afford to lose, if that is $100k for a rich person or $10 for a poor person, that's what you should use for your bet. Thinking you should gamble more proportionate to your earnings is a bad idea and will lead to your stop being rich if you follow it.

According to the financial status of the people, the ability to waste money varies from person to person So if a poor person can afford to waste $10 then a rich person can afford to spend $500+ so different people will have different gambling budgets depending on their financial situation. But gambling for both would be equally risky. A rich person loses more money on each single loss than a poor person. Because the bet amount of a rich person must be higher than that of a poor person. so gambling will always be equally risky for the rich and the poor. So everyone should make a gambling budget according to their financial status and ability to accept losses