Gambling as a source of daily income is a big pipe dream, so you need to approach it with a lot of skepticism. We are all aware that continuously winning at gambling is impossible
It's likely that some people believe they can make gambling a daily source of income because they are so addicted in it. Addiction can skew judgment and cause unreasonably high expectations. When individuals become locked in such a loop, there might be no escape
Setting strict time and financial boundaries for gambling activities makes more sense than trying to maximize profits every day. By doing this, you can occasionally experience excitement without plunging into a sea of constant losses. But if you cant control yourself, just simply stop gambling
Yes, winning at gambling is everyone's dream but they must be aware that it will not always happen, especially if they play luck-based gambling games. Maybe they can have a chance to win in skill-based gambling games where they do have skills, but that doesn't guarantee they can always win. And it is true that winning continuously in gambling is impossible, so we must know how to treat it.
If they are already addicted and want to make gambling a source of income, they may not be successful because gambling is not a place to make money. They should be able to limit their gambling so they don't become addicted to gambling, especially if they have seen its impact on people who are addicted to gambling. They must know how to avoid gambling so they don't become addicted.
Time and financial limits can help someone limit their losses and still have money in their gambling account. And it's true that it would be better than setting a winning limit that we have to achieve in a day because that can make us more obsessed with winning daily. However, winning in gambling will never be easy.
Making regular income from gambling is definitely a bad idea. Those who are planning something like this will soon face the possibility of losing money. Earning $100 a day from gambling is definitely a tough job with no guarantees. Suppose a gambler may have to bet the equivalent of $1000 to win $100. If he wins 3 days there and loses 1 day there he may gain $300 but lose $700 on the next bet. But if he could have managed the gambling normally without pursuing a specific amount of profit, then he might not have been exposed to so much loss. So one should never expect to earn a certain amount of money regularly from gambling.
Yes, that is a bad idea because they will only see the number of losses increasing, which could cost them all their money in a day. Apart from that, he also needs to prepare a large amount of money because of the possibility of losing. Your scenario shows that losing $700 on the next bet would not be worth the winnings of around $300. So he would be better off just gambling like other people to enjoy the fun and not chase profits because that would be very difficult to get. He should have realized before he started gambling and thought about what he should do to make money.