Left Venticular failure is more common because it is responsible for providing the entire body with oxygenated blood and relies greatly on the thick muscles in the left ventricle - you can think of it like this - the left side has to work harder to do its job
The heart/circulatory system is a big loop:
If there is a failure in the left ventricle, it also affects the functioning of the right ventricle - Frank starling mechanism - less blood is leaving the heart so less blood returns back to the heart - causing increased fluid pressure and build up of blood in the veins which also causes the fluid to flow back into the lungs.
so if the left vent continues to contract properly, there will be sufficient amount of blood returning back into the right ventricle, allowing the right ventricle to contract and do its job properly.