Gambling as a profession: there's people who live out of gambling? - page 2.

iamsheikhadil

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Quote from: Karartma1 on March 07, 2021, 05:49:51 AM

I just opened an old gambling account I had on a crypto casino. I was looking at the stats and I remembered the strategy I used there.
I kept using the same strategy until I reached 5 btc profit (over a million bets...) and then two very bad losing streak in row nuked my excellent strategy.
tldr the longer you play on a profit, the higher the chances of losing everything.

Well, it's law of probability and actual science that makes you lose in the long run, which is 100% guaranteed because it's backed up by math, while you winning is backed up by pure luck, you should have cashed out the 5 btc Tongue

they are worth a quarter of a million dollars now Grin

but yeah, regret will be there but it's alright, all things in life is predetermined by God Tongue

ethereumhunter

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Quote from: Karartma1 on March 07, 2021, 05:49:51 AM

I just opened an old gambling account I had on a crypto casino. I was looking at the stats and I remembered the strategy I used there.
I kept using the same strategy until I reached 5 btc profit (over a million bets...) and then two very bad losing streak in row nuked my excellent strategy.
tldr the longer you play on a profit, the higher the chances of losing everything.

That was an emotional feeling you got after that loss, and that was a pain in your head because I can felt it too. I am sure that is an important lesson to all of us, so we do not have to stay too long and play the games. No matter if you kept using the same strategy or using the other strategy, the result can be losing the money, including the money you already won. If we can win for some money, we must quit gambling and leave the place as fast as we can before it is too late to realize and lose the money.

rig4hodlers

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Quote from: Lucasgabd on August 08, 2019, 09:42:50 PM

Just curious here.
I know there are tons of way to live.

but is there such a thing as professional gamblers?

people who make a living onlyout of gambling (online or on rl)?

resources and comments on that are really welcome.

Yes, there are tons of professional gamblers worldwide, not even like an individual gambler, just some companies where you can put your money in and they assure an ROI in 'X' months. I will never put my money on unknown hands even if they are reputable ones, I don't trust in any assured ROI when we are talking about gambling and the real scores/results depend on multiple aspects where you can not control any of them. But I have some good crypto friends who are doing a lot of money with a gambling business but they even told me that no one will give you money for free, you have to assume a high risk if you want to get something back.

Karartma1

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I just opened an old gambling account I had on a crypto casino. I was looking at the stats and I remembered the strategy I used there.
I kept using the same strategy until I reached 5 btc profit (over a million bets...) and then two very bad losing streak in row nuked my excellent strategy.
tldr the longer you play on a profit, the higher the chances of losing everything.

michellee

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Quote from: Botnake on March 05, 2021, 08:43:25 AM

Quote from: michellee on March 02, 2021, 06:22:14 AM

Quote from: Botnake on March 01, 2021, 06:00:14 PM

Quote from: blockman on March 01, 2021, 05:29:39 PM

Quote from: ivankoh on February 27, 2021, 10:41:26 AM

Gambling is a profession, I know. But this job is not long, and it cannot sustain you for life. Consistency needs training, but is it possible to deny the threshold of ambition? Very few people have success with gambling in both calculation and luck. So, entertain and stop at the right time. Gamblers are often rooted in nature. Grin

There are always both sides of the story. We know that it cannot sustain for life but you should ask someone who's been gambling all of his life and remains to be a gambler up to this time. There are ways that they can sustain their lives and if it's already their life, they can make a living from it and won't just give up when they lose. As you said, there are few people that are successful in making it a living so if they are, they are sustaining their lives through it.

They can only sustain if they themselves are making money in gambling.

No one can last long in gambling if he is risking a decent amount and not making money at all since the reality will bite us which is we lose in the long run, good thing for some people this is not a threat to them as in the long run they become more consistent and they are making money.

Even if we say that no one can last long in gambling, many people still play gambling and hope to make money from gambling. No matter how much money they already lose and will lose, they will come back and play the other gambling games. If they can not realize that, sooner or later, they can become addicted to gambling, and once they addicted to gambling, it is hard to stop their habit and solve the problem.

Gambling really attempts to attract and seduce people to come back over and over. And that will depend on how strong that person to stop gambling and not thinking gambling as a source of income.

The word "if" is a difference making, few will last because they are profitable, and that's the real definition of gamblers making a living or they call themselves professional but some are really professional but they are hiding their real identity, for them winning is what matters, they don't need to brag their success.

Yes, I am sure the pro gamblers do not want to be known as pro gamblers as they want to enjoy their normal lives as human beings like other people. They will consider that what they did in gambling is their secret and not spread to many people. Only a few people around them will know for sure about that, and those people will not tell other people about his secret.

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Quote from: ?? on ??

Quote from: KTChampions on March 05, 2021, 06:48:03 PM

Money management can extend the life of the deposit, but you will not change the likelihood of losing in any way. The advantage of a casino is a constant indicator in any game (in the sense that a player cannot influence it). All these strategies and tricks taught by experienced players to beginners (often for money) are self-deception.

That's why I don't pay someone to learn, I learn on my own through what I read and most especially my experience. There are many offers online for sports bettor, they will tell you to subscribe and get picks but it's not really true because all they want is your subscription fee and even if they cap the games hard, there's still no guarantee that the bet will win, but they do guarantee, that's the saddest thing and a big sign of scam.

All these suggestions are as ridiculous as selling a book "how to make a million selling a book" how to make a million "" Grin

The only thing that plays into the hands of such sellers is the stupid policy of bookmakers who ban temporarily successful players or simply reduce their betting limits to a minimum. I've heard a lot of complaints about this.

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Quote from: Distinctin on March 06, 2021, 05:31:03 PM

Quote from: boyptc on March 06, 2021, 05:25:22 PM

That's why analyzing it is a skill that you can do and improve to make yourself better from it.

It's necessary to analyze the game but a skill is something that could give you more wins than loses.

Emphasizing about winning and losing.

Whether you're skilled, you'll really lose and win. Skill is a plus to make you near and higher chance to win because you understand the game and the players surrounds it.

And analyzing is the skill.

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Poker and blackjack seems to be the go-to of these professional gamblers. I guesz because it's easy and the mechanics of the game are basically elementary and what makes it really hard is the human mind's lack of attention to detail, which these professionals honed to suit best in their particular game. Now that being said, they could just be fairly better than a regular poker player or blackjack enthusiast, with margins of failure still here and there. But knowing they are pro at their game adds that sense of intimidation.

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Quote from: panganib999 on March 06, 2021, 01:38:54 PM

Quote from: geegaw on March 06, 2021, 12:55:26 PM

Quote from: alegotardo on March 06, 2021, 09:46:35 AM

~snip~

It depends on the person on how he wants to live and what kind of work he wanted to. Gambling can be a good source of income but not that particularly for long term. I think as a second job or what we call sideline. Also, those who are owners of casinos are making it as their source of income, right? I can say that whenever you can spend some money in a good way and legal way, it is good and that's what you want. Nobody can say that it is bad or not enough because it will always depend on the persons actions not on the people who are talking about it yet didn't have any way of making profit for themselves.

I agree that gambling can be a good source of income for casinos owners, because indeed the casino system was created to be able to make money
for its owner. But for gamblers who play at casinos I don't agree with making gambling a good source of income. Because the risk of experiencing
a loss is very much greater than getting the benefits of playing gambling. I always suggest to all gamblers make gambling just for entertainment.
In my opinion even though gambling in certain countries is legal, not necessarily good as a source of income.

Distinctin

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Quote from: boyptc on March 06, 2021, 05:25:22 PM

The percentage that you've given for someone skilled is good. I agree that luck is needed but for skilled based games, it all depends to the players of that game you bet on.

You can't dictate the players on what to do as you are only betting on them, it always depends on your pick, you analyze by looking at the team and its players, and you choose a team that you believe will win because you trust their players, that's it.

As a gambler, you can't blame a player or a team but yourself as you are the one choosing, they will play their usual and if your prediction or expectation is correct then you win.

Quote from: boyptc on March 06, 2021, 05:25:22 PM

That's why analyzing it is a skill that you can do and improve to make yourself better from it.

It's necessary to analyze the game but a skill is something that could give you more wins than loses.

boyptc

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Quote from: Coin_trader on March 05, 2021, 08:53:26 AM

Quote from: boyptc on March 05, 2021, 03:54:05 AM

Quote from: Xinarae* on March 05, 2021, 12:51:38 AM

Sports betting will depend on luck many depend on this game but must have skills it is very difficult to win if you do not become proficient in gambling

If you're not proficient in gambling, you're doing a YOLO.

And that's confusing if you tell that sports betting depends on luck and you say that it's difficult if you're not skilled. But in reality, you need to be more skilled than to be lucky on sports betting.

It is why you'll see professionals in sports betting because it's better to be skilled on that niche than depending on luck.

IMHO, Luck is the most important in gambling regardless of what type it is. There is no guarantee that you will win 100% on sports betting no matter how skilled you are, Maybe 70% to 80% is your chance of winning if you are a good analyst but not necessary you can guarantee a won. Luck is the one who fill the remaining on the 100% winning probability and this is what people always missing out.

There's no sure/guarantee win in sports betting because it is a form of GAMBLING. You need to have a balance of that attributes if you want to become proficient on sports betting.

The percentage that you've given for someone skilled is good. I agree that luck is needed but for skilled based games, it all depends to the players of that game you bet on.

That's why analyzing it is a skill that you can do and improve to make yourself better from it.

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Quote from: geegaw on March 06, 2021, 12:55:26 PM

Quote from: alegotardo on March 06, 2021, 09:46:35 AM

I know who makes a living from poker games, where your opponents are human and you can have more control of the game as you gain experience.
However, in gamblings of chance where you depend mostly on luck, its impossible to live this.
Sports betting could also be a way if the bets weren't to benefit so much the home. In these cases, I see that 50% is lucky and the rest of the statistics... still, I can't live with that.

Of course, making a living with gambling is just a silly idea, I am not intentionally complaining too much about this thought but even if we have certain skills, it's just a small bright spot in the dark, I've never seen someone who can survive just by luck, we can not think our luck is infinite, if that's true, many people have become rich without effort and learning. In order to live in this society, a job based on skills and knowledge is a prerequisite, use luck will not be sustainable, until one day this cruel world will give us a taste of suffering when we don't have a steady job.

It depends on the person on how he wants to live and what kind of work he wanted to. Gambling can be a good source of income but not that particularly for long term. I think as a second job or what we call sideline. Also, those who are owners of casinos are making it as their source of income, right? I can say that whenever you can spend some money in a good way and legal way, it is good and that's what you want. Nobody can say that it is bad or not enough because it will always depend on the persons actions not on the people who are talking about it yet didn't have any way of making profit for themselves.

Mauser

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Quote from: alegotardo on March 06, 2021, 09:46:35 AM

I know who makes a living from poker games, where your opponents are human and you can have more control of the game as you gain experience.
However, in gamblings of chance where you depend mostly on luck, its impossible to live this.
Sports betting could also be a way if the bets weren't to benefit so much the home. In these cases, I see that 50% is lucky and the rest of the statistics... still, I can't live with that.

Yeah poker might be the one game where a lot of people can earn a living trough it. In the new GGPoker app you can see the lifetime earnings of each player you play against which is pretty interesting. I am kind of surprised how many people managed to win 10,000+ USD through poker. Unfortunately I am not good enough for the higher stakes, so I am already happy about winning a few hundred bucks.

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Quote from: alegotardo on March 06, 2021, 09:46:35 AM

I know who makes a living from poker games, where your opponents are human and you can have more control of the game as you gain experience.

With strategy games, experienced gives you edge to your opponents. With good disipline and skills, the chance of using this edge
to live a life is very possible.

Quote

However, in gamblings of chance where you depend mostly on luck, its impossible to live this.

But there are people/gamblers who confidently use this venue to earned decent money from time to time.

Quote

Sports betting could also be a way if the bets weren't to benefit so much the home. In these cases, I see that 50% is lucky and the rest of the statistics... still, I can't live with that.

Sports betting also gives some priviledge if you understand the game and you are good in managing your bankroll.

geegaw

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Quote from: alegotardo on March 06, 2021, 09:46:35 AM

I know who makes a living from poker games, where your opponents are human and you can have more control of the game as you gain experience.
However, in gamblings of chance where you depend mostly on luck, its impossible to live this.
Sports betting could also be a way if the bets weren't to benefit so much the home. In these cases, I see that 50% is lucky and the rest of the statistics... still, I can't live with that.

Of course, making a living with gambling is just a silly idea, I am not intentionally complaining too much about this thought but even if we have certain skills, it's just a small bright spot in the dark, I've never seen someone who can survive just by luck, we can not think our luck is infinite, if that's true, many people have become rich without effort and learning. In order to live in this society, a job based on skills and knowledge is a prerequisite, use luck will not be sustainable, until one day this cruel world will give us a taste of suffering when we don't have a steady job.

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I know who makes a living from poker games, where your opponents are human and you can have more control of the game as you gain experience.
However, in gamblings of chance where you depend mostly on luck, its impossible to live this.
Sports betting could also be a way if the bets weren't to benefit so much the home. In these cases, I see that 50% is lucky and the rest of the statistics... still, I can't live with that.

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Quote from: Maslate on March 06, 2021, 07:42:58 AM

Quote from: ?? on ??

Maybe for sportsbooks, there are those who can get an average profit every month if it is calculated, but if for slots or games that make emotions, I don't think it will be able to benefit because you can be sure that whatever wins they get will come back again and in the end they will lose. . being unable to control is what puts a lot of people at a disadvantage in gambling. lust to play

Obviously you can't make a living in luck based games, unless you are cheating, that way winning is easy for you but in general you can win in games with house edge in the long run. Sports betting is just one of the games that you can win in the long run, provided you have what it takes to be successful and we are talking of skills here.

The thought of saying "making a living" means you are consistently winning in gambling, and it's not possible in slots or roulette as this type of game has a high house edge, you can be lucky once but you'll still be part of the losers who lose in the long run.

I going to be bias as I myself love sports and I'm betting on sports so I believe that if we concentrate and take this as our path, we might be successful here and one day our dream will be realize which is to make a living in gambling.

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Quote from: ?? on ??

Maybe for sportsbooks, there are those who can get an average profit every month if it is calculated, but if for slots or games that make emotions, I don't think it will be able to benefit because you can be sure that whatever wins they get will come back again and in the end they will lose. . being unable to control is what puts a lot of people at a disadvantage in gambling. lust to play

Obviously you can't make a living in luck based games, unless you are cheating, that way winning is easy for you but in general you can win in games with house edge in the long run. Sports betting is just one of the games that you can win in the long run, provided you have what it takes to be successful and we are talking of skills here.

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Quote from: Quintrix on March 06, 2021, 05:28:52 AM

Quote from: KTChampions on March 05, 2021, 06:48:03 PM

Money management can extend the life of the deposit, but you will not change the likelihood of losing in any way. The advantage of a casino is a constant indicator in any game (in the sense that a player cannot influence it). All these strategies and tricks taught by experienced players to beginners (often for money) are self-deception.

I agree with that, I was deceived that I can regain my losses through playing martingale because I can see that by doubling up you can regain all your losses with one bet, but it did not explain that I need a large bankroll so I can keep up, it took me some games before I realized that it will not work all the time, you can him some time but most of the time the strategy will not work.

Don't get fooled by any strategy or money management techniques as there are none! If you gamble, you should consciously know from the start that you're fighting against the house. You may be the lucky one who takes it all but history shows that a small minority enjoyed some glimpse of fortune while the desperate majority lose most of the money along the way.
Only play for fun and be ready to lose, don't put more than you can afford to lose and be happy with it.

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Quote from: Quintrix on March 06, 2021, 05:28:52 AM

Quote from: KTChampions on March 05, 2021, 06:48:03 PM

Money management can extend the life of the deposit, but you will not change the likelihood of losing in any way. The advantage of a casino is a constant indicator in any game (in the sense that a player cannot influence it). All these strategies and tricks taught by experienced players to beginners (often for money) are self-deception.

I agree with that, I was deceived that I can regain my losses through playing martingale because I can see that by doubling up you can regain all your losses with one bet, but it did not explain that I need a large bankroll so I can keep up, it took me some games before I realized that it will not work all the time, you can him some time but most of the time the strategy will not work.

Lol that is gambling , the more you eager winning is the more you become a loser so best to just play smart and patient than trying to win faster.
Sometimes it is the luck that waits more time before making friend with you and that is the start of you becoming winner.

Remember that in gambling you may lose mostly but when you get the right attitude? then win may at your side more often than losses.

Topic: Gambling as a profession: there's people who live out of gambling? - page 2. (Read 6953 times)