Gambling as a profession: there's people who live out of gambling? - page 31.

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Quote from: iamsheikhadil on November 17, 2019, 12:29:12 PM

Quote from: seoincorporation on November 17, 2019, 12:08:43 PM

Gambling is a good business for the house, that's why casinos have a house edge, this warrant the profit of the casino in the long game. And this means the users will lose in the long run. But there are people with lot of luck, so, those are the ones who end with profit. Isn't about be smart, in the end of the road is all about luck.

But those same people also become addicted to it after winning so much and then end up coming back to the casino to win more, but they only lose more until they have lost it all again lmao. Human greed overcomes all other emotions sadly haha xD

I don't think this is about bookies because bookies are basically different from those who are purely gamblers, and in this case not many gamblers make gambling a profession or even make a living from gambling because gambling cannot be used as a source of income. But when we talk about bookies, then at least they still have a better chance to make gambling a profession.

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Quote from: seoincorporation on November 17, 2019, 12:08:43 PM

Gambling is a good business for the house, that's why casinos have a house edge, this warrant the profit of the casino in the long game. And this means the users will lose in the long run. But there are people with lot of luck, so, those are the ones who end with profit. Isn't about be smart, in the end of the road is all about luck.

But those same people also become addicted to it after winning so much and then end up coming back to the casino to win more, but they only lose more until they have lost it all again lmao. Human greed overcomes all other emotions sadly haha xD

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Gambling is a good business for the house, that's why casinos have a house edge, this warrant the profit of the casino in the long game. And this means the users will lose in the long run. But there are people with lot of luck, so, those are the ones who end with profit. Isn't about be smart, in the end of the road is all about luck.

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Quote from: stadus on November 14, 2019, 10:18:07 AM

Quote from: onrise on November 14, 2019, 10:15:07 AM

People who has self discipline will be able to control their emotions and not become too greedy and lose out money. They will know when to play and when to pause and take a break. This people actually make money for them self and rest lose out the money to gambling owners.

Not because you have a discipline in gambling you will win, it does not go that way, discipline is a must but what is needed to win is to have the skills in a game that you choose, whether it's poker or sports betting, you need to be consistently winning in order for you to be profitable, otherwise, you will win some or lose some and you are no different to typical gamblers like us.

To be a professional in gambling is not enough just to be able to control your emotions and know when to stop.
You need to have a good understanding of your own psychology, as well as perfectly know the theory of probability, because it is knowledge of mathematics that distinguishes an amateur from a professional.

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Quote from: Slow death on November 16, 2019, 07:07:57 AM

Quote from: ?? on ??

Quote from: stadus on November 14, 2019, 10:18:07 AM

Quote from: onrise on November 14, 2019, 10:15:07 AM

People who has self discipline will be able to control their emotions and not become too greedy and lose out money. They will know when to play and when to pause and take a break. This people actually make money for them self and rest lose out the money to gambling owners.

Not because you have a discipline in gambling you will win, it does not go that way, discipline is a must but what is needed to win is to have the skills in a game that you choose, whether it's poker or sports betting, you need to be consistently winning in order for you to be profitable, otherwise, you will win some or lose some and you are no different to typical gamblers like us.

Sport betting can be profitable and someone who knew the game a lot has better chance of winning it but it most likely will be lesser odd so the outcome also will be less not like on casino wins so this can be a good reason enough for anyone who can't complete there life being a sport better.

Last month I saw on youtube video of the history of a sports trade expert guy, he said he turned $50 into $40,000. I confess I don't believe in his story, I think he's overdoing it, but for the bets and wins he makes, it may be possible that he made a lot of money. But I keep asking myself:

Why most of those who are sports trade experts make books and sell their books which according to them in their book have all the tips of years of betting they made. Why don't they give away books for free?

If you can earn money from doing something, why wont you. Besides, in order to survive in this world, you must follow this rule, if you are good at something, never do it for free. Now why on earth would they give away knowledge and experience of years for free. Sports bets are not luck based so a person with good interest and understanding, can make correct predictions easily.

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Quote from: ?? on ??

Quote from: stadus on November 14, 2019, 10:18:07 AM

Quote from: onrise on November 14, 2019, 10:15:07 AM

People who has self discipline will be able to control their emotions and not become too greedy and lose out money. They will know when to play and when to pause and take a break. This people actually make money for them self and rest lose out the money to gambling owners.

Not because you have a discipline in gambling you will win, it does not go that way, discipline is a must but what is needed to win is to have the skills in a game that you choose, whether it's poker or sports betting, you need to be consistently winning in order for you to be profitable, otherwise, you will win some or lose some and you are no different to typical gamblers like us.

Sport betting can be profitable and someone who knew the game a lot has better chance of winning it but it most likely will be lesser odd so the outcome also will be less not like on casino wins so this can be a good reason enough for anyone who can't complete there life being a sport better.

Last month I saw on youtube video of the history of a sports trade expert guy, he said he turned $50 into $40,000. I confess I don't believe in his story, I think he's overdoing it, but for the bets and wins he makes, it may be possible that he made a lot of money. But I keep asking myself:

Why most of those who are sports trade experts make books and sell their books which according to them in their book have all the tips of years of betting they made. Why don't they give away books for free?

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Quote from: Triffin on November 15, 2019, 02:08:44 PM

There are numerous cases where rich people ended on roads just because of gambling addiction

I doubt that unless we count as "rich" someone who's become rich due to sheer luck (like lottery) or unexpected inheritance, i.e. people who didn't earn their wealth

Quote from: Betwrong on November 16, 2019, 06:01:47 AM

Quote from: exbet.io on November 14, 2019, 06:21:10 PM

This thread has a pretty low signal-to-noise ratio.
Regardless.. maybe there will be one or two who find this article interesting:
https://www.theringer.com/2019/6/5/18644504/sports-betting-bettors-sharps-kicked-out-spanky-william-hill-new-jersey

It tells the history of both US sports betting (interesting!) and a US pro bettor by the name of spanky (relevant!).

Enjoy Cool

This is a very long but interesting story. As far as I understand, the strategy of this Spanky guy is to bet only on winning(from the point of most bettors) teams, thus getting multipliers like 1.01x or 1.02x. With this strategy, one must bet $1k in order to earn $10 or $20 with a winning bet.

What I could never understand is that when a guy like Spanky Kyrollos wants to bet $50,000, but he's allowed to bet only $10,000, why can't he make 4 other guys, his friends or just partners, to make bets for him? Same goes for the cases when he's not allowed to bet at all at some place. I mean, that's what he's doing sometimes, according to the story, but why not to do it all the time, and stop complaining about bans and restrictions?

As they say, it is lonely at the top

Maybe, he doesn't have friends, partners, or acquaintances in sufficient "amounts" whom he could trust with a few thousand dollars. If you are betting on multipliers like 1.01x or 1.02x, giving so much money to a lot of people seems to me an extremely risky venture. Someone will undoubtedly let you down sooner or later (and rather sooner than later), so it is not worth it for so small a reward. Apart from that, you would have to pay your "team" something, and that again is meaningless on these multipliers. Maybe, there's something else at play here, I dunno

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Quote from: exbet.io on November 14, 2019, 06:21:10 PM

This thread has a pretty low signal-to-noise ratio.
Regardless.. maybe there will be one or two who find this article interesting:
https://www.theringer.com/2019/6/5/18644504/sports-betting-bettors-sharps-kicked-out-spanky-william-hill-new-jersey

It tells the history of both US sports betting (interesting!) and a US pro bettor by the name of spanky (relevant!).

Enjoy Cool

This is a very long but interesting story. As far as I understand, the strategy of this Spanky guy is to bet only on winning(from the point of most bettors) teams, thus getting multipliers like 1.01x or 1.02x. With this strategy, one must bet $1k in order to earn $10 or $20 with a winning bet.

What I could never understand is that when a guy like Spanky Kyrollos wants to bet $50,000, but he's allowed to bet only $10,000, why can't he make 4 other guys, his friends or just partners, to make bets for him? Same goes for the cases when he's not allowed to bet at all at some place. I mean, that's what he's doing sometimes, according to the story, but why not to do it all the time, and stop complaining about bans and restrictions?

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Quote from: Ziskinberg on November 12, 2019, 03:21:01 AM

Quote from: boyptc on November 11, 2019, 02:32:21 PM

About being homeless from billionaire, well that's their problem if they are not good in handling money.

There's no sense to make a living when you are already a billionaire, unless you keep winning but if not and you are uncertain with the outcome, then its likely just putting yourself into the big hole of getting addicted.

When you have a lot of money, you have a lot to lose, therefore you are at a high risk.
To be homeless because of gambling is a big shame, learn to be contented in life and consider gambling only as an entertainment with moderation.

There are numerous cases where rich people ended on roads just because of gambling addiction. No matter how much rich you are there is no strong logic for gambling all the time. Once you win some money in gambling, you want to play more and more in order to make huge money without putting big efforts and this is where your downfall begins. Gambling shall be limited to fun only.

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This thread has a pretty low signal-to-noise ratio.
Regardless.. maybe there will be one or two who find this article interesting:
https://www.theringer.com/2019/6/5/18644504/sports-betting-bettors-sharps-kicked-out-spanky-william-hill-new-jersey

It tells the history of both US sports betting (interesting!) and a US pro bettor by the name of spanky (relevant!).

Enjoy Cool

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Quote from: alisonwonder on November 14, 2019, 10:10:16 AM

Quote from: Natalim on November 14, 2019, 09:44:09 AM

Quote from: deisik on November 14, 2019, 06:38:16 AM

The closest analogy in terms of losses and their impact is trading. If you know what you are doing, you can discard losses so that they don't affect you much. In other words, you already anticipate them and thus are psychologically prepared for them. In a way, you have already seen them with your mind's eye, and they don't put you down

That's basically what professional are doing on why they survive as a gambler, for them, they do it for long term and they understand that along the way there are ups and down and they are well prepared to that as like what you said, they anticipated it already.
We should have this quality, otherwise we will never be a professional gambler.

Think like them if we like them to follow their journey but never expect that making money in gambling is easy because it's not true.

not only gambling, even trading is almost the same, there are always ups and downs. I once lived from gambling but it only lasted 1 year, because the results were really bad, maybe if I could get the jackpot, I could last longer to live from gambling. but fortunately, I finally stay away and looking for another better job

In fact, I was primarily thinking about trading when I wrote that post

As this is where this approach makes perfect sense as the outcomes of your "bets" both depend on luck, to a certain degree (let's be honest here), and on your trading skills as well as understanding of the market, to the remaining degree. So you should be able to cope with losses or do something else if you can't. However, if we are talking about purely random games involving the house edge (think dice here), we can talk about "professional gamblers" only with an ironic undertone (or as a handy euphemism for gambling addicts)

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Quote from: onrise on November 14, 2019, 10:15:07 AM

People who has self discipline will be able to control their emotions and not become too greedy and lose out money. They will know when to play and when to pause and take a break. This people actually make money for them self and rest lose out the money to gambling owners.

Not because you have a discipline in gambling you will win, it does not go that way, discipline is a must but what is needed to win is to have the skills in a game that you choose, whether it's poker or sports betting, you need to be consistently winning in order for you to be profitable, otherwise, you will win some or lose some and you are no different to typical gamblers like us.

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Quote from: Visbay on November 11, 2019, 07:14:03 AM

Quote from: LogitechMouse on November 10, 2019, 07:52:35 AM

Quote from: Best Dreams on November 09, 2019, 12:07:01 PM

Surely luck matters in gambling as I know to become a good gambler you must have good luck that can make you win but to become a professional gambler only luck cannot make you win but you must have skills and you must have plenty of knowledge to win with the tricks and also you should have experience and guts to face risk of gambling.

Even the professional gamblers are losing some money. Its just a matter on when they will stop (self control).

Professional gamblers (if there are) know when to stop and when to play. If they know that they aren't lucky at that time then they will stop and call it a day. Even the most skilled and the most experienced gamblers doesn't win all the time. For me, it will be a matter of if you are lucky or not

Agree with you, a good gambler must know when it is time to gamble and when it is time to stop gambling. Just manage your money for gambling and never cross your limit when you feel you are in trouble just stop gambling for some time then again you can gamble later when you become mentally relax as lose gives stress even if it’s miner lose.

People who has self discipline will be able to control their emotions and not become too greedy and lose out money. They will know when to play and when to pause and take a break. This people actually make money for them self and rest lose out the money to gambling owners.

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Quote from: Natalim on November 14, 2019, 09:44:09 AM

Quote from: deisik on November 14, 2019, 06:38:16 AM

The closest analogy in terms of losses and their impact is trading. If you know what you are doing, you can discard losses so that they don't affect you much. In other words, you already anticipate them and thus are psychologically prepared for them. In a way, you have already seen them with your mind's eye, and they don't put you down

That's basically what professional are doing on why they survive as a gambler, for them, they do it for long term and they understand that along the way there are ups and down and they are well prepared to that as like what you said, they anticipated it already.
We should have this quality, otherwise we will never be a professional gambler.

Think like them if we like them to follow their journey but never expect that making money in gambling is easy because it's not true.

not only gambling, even trading is almost the same, there are always ups and downs. I once lived from gambling but it only lasted 1 year, because the results were really bad, maybe if I could get the jackpot, I could last longer to live from gambling. but fortunately, I finally stay away and looking for another better job.

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Quote from: deisik on November 14, 2019, 06:38:16 AM

The closest analogy in terms of losses and their impact is trading. If you know what you are doing, you can discard losses so that they don't affect you much. In other words, you already anticipate them and thus are psychologically prepared for them. In a way, you have already seen them with your mind's eye, and they don't put you down

That's basically what professional are doing on why they survive as a gambler, for them, they do it for long term and they understand that along the way there are ups and down and they are well prepared to that as like what you said, they anticipated it already.
We should have this quality, otherwise we will never be a professional gambler.

Think like them if we like them to follow their journey but never expect that making money in gambling is easy because it's not true.

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Quote from: LogitechMouse on November 14, 2019, 12:45:07 AM

Even those professional gamblers experienced losses and it is a very disappointed thing for them. Don't be jealous to them and don't do what they are doing because for sure, you aren't ready for the consequences you may face if you do it too for sure

I don't think it is as disappointing a thing for them as we think it is

Basically, we are projecting onto them our own feelings, i.e. how we ourselves would react if we encountered a loss (feeling embarrassed and frustrated). But if it were so, there wouldn't be "professional gamblers" (if there are any in the first place) as the impact of losses would quickly made them insane (not that I'm saying they are sane, but still)

The closest analogy in terms of losses and their impact is trading. If you know what you are doing, you can discard losses so that they don't affect you much. In other words, you already anticipate them and thus are psychologically prepared for them. In a way, you have already seen them with your mind's eye, and they don't put you down

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Quote from: LogitechMouse on November 14, 2019, 12:45:07 AM

If they are born with luck always on their side then its ok. Yes it is like a dream job but the risks of it is worse than working as an employee especially on the mental side.

There are people who are lucky but those who gamble regularly and become successful in gambling, are not just lucky because you can't have your luck all the time, its more on they are born with the skills or talent and that help them to be successful in gambling making themselves profitable.

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Quote from: boyptc on November 09, 2019, 05:59:21 AM

I'm jealous of them because gambling is truly for them and they have it with their luck and also with applied experience. It's true, it's like a dream job of others.

You don't have to work from 9am to 5pm but we all know how huge the risk is.

Nothing to be jealous of with them. If they are destined to be rich with the help of gambling then so be it. If they are born with luck always on their side then its ok. Yes it is like a dream job but the risks of it is worse than working as an employee especially on the mental side.

Even those professional gamblers experienced losses and it is a very disappointed thing for them. Don't be jealous to them and don't do what they are doing because for sure, you aren't ready for the consequences you may face if you do it too for sure.

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Quote from: supercanada1 on November 13, 2019, 12:47:53 PM

Gambling, from no angle, can be declared or called a profession. It is just a game, a source of entertainment, an activity that kills spare time very well and a hangout(for some people). Those who gamble are players but those who own such gambling place are businessman. They became owner of gambling business. If it was a profession in any way, you would have learnt the skills long ago.

But that was so difficult for ordinary people to learn to gamble until he can use gambling as a profession because that will need a long time to learn every lesson of gambling. Perhaps, people would only use gambling as an entertainment and never think about that so he can enjoy the games while he also has a chance to make money if he gets lucky. It is better to become an owner of the gambling place than to use gambling as a profession, but that will need big money to start.

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Quote from: Best Dreams on November 13, 2019, 02:06:49 AM

Quote from: peter0425 on November 12, 2019, 08:56:29 AM

Quote from: boyptc on November 09, 2019, 05:59:21 AM

I'm jealous of them because gambling is truly for them and they have it with their luck and also with applied experience. It's true, it's like a dream job of others.

You don't have to work from 9am to 5pm but we all know how huge the risk is.

don't worry buddy because the topic stands not only for gamblers but also to those people who works in Gambling businesses or even the owner of gambling itself.because they also got fortune in gambling as a profession .

but like yu?yeah sometimes i have got to think of being jealous why i am not awarded with gamblers luck and skills to get easy money lol Grin

Gambling is all for those who know how to play it and how to get benefit from gambling. There are so many gamblers who are earning only with gambling and they have become so professional as the example we have... to become professional in gambling just need a sharp mind and good luck. If you are lucky and you have gambling skills trust me then you don’t need any other way to get money but if you are not lucky then it’s risky to rely only on gambling.

If you're earning money on gambling, it doesn't mean you're a professional gambler. Most likely, being a professional means you're applying it to something like there's an application of gambling. Maybe in terms of playing in a tournament and already proved you've risk a lot with other gamblers. If the definition of being a professional gambler is by earning money, then we can say all of us are professional even we're winning with luck.

So therefore, being a professional means you're gaining a massive experience playing with other pros or hard level gambling games.

Topic: Gambling as a profession: there's people who live out of gambling? - page 31. (Read 6953 times)