Quote from: Kelward on June 04, 2024, 11:31:48 AM

Quote from: adultcrypto on November 24, 2023, 03:51:56 PM

I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.

In my understanding the reason why the rich wins more in gambling than the poor is quite simple, because they bet more. What a poor person can bet in a whole year will be what a rich person will bet in a single game, so assuming that a rich person and poor person bets the same thing on a game, you can never compere the amounts of money that each of them can win. So because the rich have higher chances of winning more, that is probably why they will gamble more than the poor, also I believe loses will not affect them much because they have too much money to spare.

Don't forget that the rich also loses more money in gambling than the poor because one lose is greater than many loses of the poor, so the equation is balanced that way. The higher the amount of money that you gamble is the greater your chances is at winning a higher amount of money ,vice versa.

Not necessarily having too much money to spare, because of they have that much considering your view they would not have intention of gambling, and still eager to win like the poor. It a matter of different streams of income coming in which balances the losses incurred whereas the poor do not have such, so a loss can break them down this is just the difference.
As you have rightly said, you are correct with your explanation; A single win from a high stake convers the entire win of the poor fellow adding his losses too, lol.

In essence the Rich and Poor loss and also win but the difference is in the amount they stake also let not forget that the Rich can be poor while the Poor becomes more poorer if they fail they apply Risk Management and understand the need for limits.