So, my question is: Are you betting big sums on low odds or small sums on higher odds?
Lower-income gamblers will most definitely favor high-risk, high-reward bets. The hope is that they'll win big and change their financial lot considerably. As for me, I prefer placing small sums on high odds. With a long-term strategy, the small returns eventually do add up to a nice chunk
I agree with Stormy on this. Low income gamblers take high risks in hopes that they would get rich quick. They lack the foresight that there is no such thing as get rich quick.
This study fits my observation from anecdotal experiences. Most low income people bet with their smaller disposable income on sometimes outrageous ly numerous higher odds to increase the value of their cashout which they hope to use to change their financial situation and i think end up loosing more. The reverse is the case for higher income earners as they understand it more as fun. Just my pov though.
I would go for small sums, high odds. Why bet big if you could potentially lose big too. I know those who try to use gambling as way t get rich fast but more often than not they only end up losing huge money; one they cant afford to quickly earn back up.
Small sums on higher odds. Unfortunately, many people in difficult situations are desperate, so they take big risks, which often do not end well.
@hildaw I kinda relate to this especially in the previous years during the pandemic. It took me a while to realize that the latter is a much more responsible way of gambling.
Hope is a dangerous thing 😆 and that's what most low income gamblers go by. High risk hoping for high reward.
Small sums on higher odds. Actually most people forget that luck doesn’t have a loyalty program...
Yep unfortunately bookmakers know this which is why you see more betting shops in deprived areas...
I am probably somewhere in the middle with this. I tend to stay away from sports bets with ridiculously low odds but I am also wary of betting opportunities with high odds as they rarely win. My favorite bets are like the Yankee where you get 6 doubles, 4 trebles, and an accumulator. I have had a few of these come up with football bets and the payout can be significant. Of course, these bets are often losers as well 🙁
That's an interesting study. Personally, I tend to go for smaller sums on higher odds, feels like a safer way to play, but still with a chance for a decent win.
Bigger sums on higher odds are a prefrable in my view cause smaller odds tend to have more gurantees i guess. Smaller income people would definitely go for higher odds due to having less spare cash
@divine You meant they go for low risk and expect a high reward cause ive seen people betting with small sums hoping to win 3000 times same amount. Very funny, and they mostly lose
