I was having a conversation about gambling with two young men and one of them said gambling is not for the poor people, that it has the proclivity to favour rich people much than with the poor, and the examples he gave made me to come close to endorsing his interpretation.
His argument is that the rich people gambling do not have to pack a lot of odds as in parlay bet to accumulate a high odd size that will give a satisfying potential win. The rich has the money to risk huge amount to a single game for instance 2 odds staked with $1 million to win $2 millions, but the poor staking with $100 to win $2 million has to pick multiple legs to accumulate odds to get such potential win. It hence decreases the gambling winning chance whilst the rich gambler chance remains increased.
Yes, I understand your points, but the truth is that gambling does not favor either poor or rich people only those who are lucky among Them. there is no assurance that rich men who bet with large amounts of money on small odds will win, and there is also no assurance that poor people staking small amounts on big odds will lose.Since there is no guarantee, I don't believe gambling favors rich people more than poor people.
Let’s just look at Drake how many times has he bet huge amounts on low odds and still lost the game? Many other people are doing the same and still failing.So, the point is that gambling is not a reliable way of making money. It should be seen as entertainment. Just bet with what you can afford to lose, and honestly, that is the only way to truly enjoy gambling.