Gambling as a profession: there's people who live out of gambling? - page 38.

Sahyadri

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Quote from: Lucasgabd on August 08, 2019, 08:42:50 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.

I believe you really cant sustain life with easy and unstable source of income, gambling as a profession being one of them. I am sure professional gamblers too have stable earning streams or side hustles if not gambling. I know few friends who tried to live off from winnings from gambling , went profession but soon landed in stable jobs when the things became rough !

senne

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Quote from: Lucasgabd on August 08, 2019, 08:42:50 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.

Living just off gambling money is not a good idea and soon you will fall on your face to realize your mistake. I have story of a friend to support this. Working for a MNC, this friend was introduced to sports betting. Winning fast and easy money made it an addiction for him and soon he left his corporate job. i saw him fulfilling all his desires with gambling money, bought a fancy bike and a rare dog breed. But this dint last long and soon he found himself covered with debt to cover his losses. He is still looking back for a white collar job without any luck Undecided

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Quote from: Saint-loup on October 20, 2019, 04:52:26 PM

Quote from: Lucasgabd on August 08, 2019, 08:42:50 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.

I think you can live from the gambling, but it seems to be more easy to live by doing financial gambling, because the house edge is lower and because there is a little bit less randomness. What is the more similar as gamble in the finance, is the trade of options I think, because it's very similar as betting.

just because options is high volatility trading I wouldn't say it's simmilar to betting, it can also be mastered and I bet (pun intended) that there are some small % amount of traders that can be profitable even with options trading.

Botnake

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Quote from: LogitechMouse on October 22, 2019, 06:20:49 AM

Probably there are some gamblers out there who makes gambling their living already but the capital that they need is huge for sure.

It won't matter if you start small or big as long you are consistent in your betting strategy.
if you keep winning, making a living in gambling is never a problem, and actually that's every gamblers dream but that dream are not mean for everyone.
Even me, I already accepted that making a living in gambling for me is just too hard, but I have to try but not so aggressive.

LogitechMouse

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Probably there are some gamblers out there who makes gambling their living already but the capital that they need is huge for sure.

Gambling industry is very huge and there are many gamblers around the world who are gambling but most of them are rich people already and just having fun thru gambling. Getting rich in gambling is not impossible but the chances of it are very low because you don't know when luck will come to you and aside from that, you will not win every day. There will be times that you will win and at the same time lose.

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Quote from: Betwrong on October 21, 2019, 02:51:21 AM

Quote from: Peashooter on October 20, 2019, 07:31:37 AM

Maybe the richest person is the one who are making gambling as a profession because they have a lot of funds to bet or gamble. They just gamble their money and they earn while sitting and just playing in some casinos. You can meet those people in the famous casinos that they are the one who are just playing and they earn money. For me gambling as a profession is a hard time or a big risk taking because you can lose a lot of money by this and I see a lot of people down on debt because of gambling.

Most of them don't earn with gambling. Those rich people you are talking about can lose $10k without even noticing. So, they play big games without fear of losing, and if they lose they don't talk about it. But when they win (which happens too, of course, because as much as no one can be constantly winning, no one can be constantly losing either), they talk about it a lot, and then we get the impression that they can make big money with gambling

If I'm not mistaken, this is called selection bias

And it is the same with lottery. We hear a lot about lottery winners ("from shithouse to penthouse") and know almost nothing about losers (who are standing small indeed). So even if we do understand in a semiconscious way that there cannot be only winners or their number cannot be big, we are still subliminally made to believe that it is not really so (this technique is called priming). And I'm not even talking about cases of "natural" selection bias when it occurs spontaneously without someone's ill intent or purpose

djsugar

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Quote from: Lucasgabd on August 08, 2019, 08:42:50 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.

Although gambling industry is a huge industry and is source of income for the authorities in some places like Las Vegas (U.S.A.) Thailand , Macau, Goa ( India ). Gambling industry is one of the vibrant entertainment industry in the world and leads to increase in travellers and also creates jobs.
Gambling money being unstable in nature, i believe there are very few people who professionally depend on gambling and have that as a source of primary income. Friends around me have their corporate jobs while at night or weekends they do go for professional gambling tournaments, offline of online. I really dont believe there are players who only depend on gambling until you are retired with settled kids and have lot of time and savings in your hand

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Quote from: rand1919 on October 21, 2019, 07:49:04 PM

I know 1 or 2 people who earn hundreds of thousands of € monthly on betting. It's their living, and they are doing pretty good. But they do bet professionally using math and statistics formulas for their calculations, and other various things. Very smart people i would say.

I bet for hobby (esports), but i earn decent amount of money too. If you bet smartly and know the game you can earn hundreds / thousands of €. Depends on the budget and knowledge.

That is really amazing...Does it gives you an idea to ask how they did it? Cause it sounds like very interesting to see how they did it, in fact, if their strategies will work with them it possible that it work for you or with the others. But, I supposed to think that they keep it hiding and never want to share it...lol Grin

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Quote from: ecnalubma on October 21, 2019, 07:38:14 AM

The only people I know that are making a living through gambling are those professionals in Poker and cockfighting. Through their gambling career they are making huge amount of money and even put up a business and acquire luxurious properties out of their income enough to support their families. But for ordinary gamblers I bet its impossible.

Nothing impossible, but it's very hard to earn money from gambling. If you don't know when luck comes, then that will almost impossible but still possible because perhaps, luck will comes to you on another day. I am sure that professional gamblers in a poker game can earn money from the tournament or playing with another player. But they need to have skills inside the games so they can win many times. We can also have skills like them, but we need to learn hard to master the skills.

rand1919

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I know 1 or 2 people who earn hundreds of thousands of € monthly on betting. It's their living, and they are doing pretty good. But they do bet professionally using math and statistics formulas for their calculations, and other various things. Very smart people i would say.

I bet for hobby (esports), but i earn decent amount of money too. If you bet smartly and know the game you can earn hundreds / thousands of €. Depends on the budget and knowledge.

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Quote from: Peashooter on October 20, 2019, 07:31:37 AM

Maybe the richest person is the one who are making gambling as a profession because they have a lot of funds to bet or gamble. They just gamble their money and they earn while sitting and just playing in some casinos. You can meet those people in the famous casinos that they are the one who are just playing and they earn money. For me gambling as a profession is a hard time or a big risk taking because you can lose a lot of money by this and I see a lot of people down on debt because of gambling.

Well but I have seen a lot of the richest gamblers having their own major business or any other industries, they have not made gambling as their source of income and I have seen them while betting a large amount of money, they are known as gambler and businessmen by their profession, so I think a gambler should not only rely on the gambling but they should also have some other source of income for living.

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The only people I know that are making a living through gambling are those professionals in Poker and cockfighting. Through their gambling career they are making huge amount of money and even put up a business and acquire luxurious properties out of their income enough to support their families. But for ordinary gamblers I bet its impossible.

Zanzibet

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i think that due to the nature of the activity, being a professional gambler can expose you to all sorts of vices. If you find it hard to maintain discipline, you may end up with some bad habits. and a simple rule change to your favourite game can seriously hamper your success.

Betwrong

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Quote from: Peashooter on October 20, 2019, 07:31:37 AM

Maybe the richest person is the one who are making gambling as a profession because they have a lot of funds to bet or gamble. They just gamble their money and they earn while sitting and just playing in some casinos. You can meet those people in the famous casinos that they are the one who are just playing and they earn money. For me gambling as a profession is a hard time or a big risk taking because you can lose a lot of money by this and I see a lot of people down on debt because of gambling.

Most of them don't earn with gambling. Those rich people you are talking about can lose $10k without even noticing. So, they play big games without fear of losing, and if they lose they don't talk about it. But when they win (which happens too, of course, because as much as no one can be constantly winning, no one can be constantly losing either), they talk about it a lot, and then we get the impression that they can make big money with gambling.

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Quote from: Peashooter on October 20, 2019, 07:31:37 AM

Maybe the richest person is the one who are making gambling as a profession because they have a lot of funds to bet or gamble.

Op not because they have lots of resources meaning they can beat the house ,it’s not like that and do you know at least a single person near you that become richer because of gambling?if not then don’t say that richest person is gamblers since you have no proof

Quote

They just gamble their money and they earn while sitting and just playing in some casinos. You can meet those people in the famous casinos that they are the one who are just playing and they earn money.

How come that you may recognized rich people thru gambling just by going in casino?how come you are getting this ideas

Quote

For me gambling as a profession is a hard time or a big risk taking because you can lose a lot of money by this and I see a lot of people down on debt because of gambling.

In this We will be one because that is very true tons of people now are in bad shape just because they treat gambling as profession

maydna

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Quote from: Saint-loup on October 20, 2019, 04:52:26 PM

Quote from: Lucasgabd on August 08, 2019, 08:42:50 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.

I think you can live from the gambling, but it seems to be more easy to live by doing financial gambling, because the house edge is lower and because there is a little bit less randomness. What is the more similar as gamble in the finance, is the trade of options I think, because it's very similar as betting.

Yes, he can live from gambling, but he needs to have many things before he can start earning money from gambling. We know gambling related to luck and skill, so if he doesn't have one of two conditions of that, he cannot make money from gambling. We guess that some gamblers can make money in online gambling or real-life gambling, but perhaps, we don't meet them already, so we still guessing who are they.

Trade of options can be very similar to betting, but if he can have skills to determine where the market or the price goes, he is not betting with the market. He analyzed the price so he can buy and sell at a price he wants.

Saint-loup

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Quote from: Lucasgabd on August 08, 2019, 08:42:50 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.

I think you can live from the gambling, but it seems to be more easy to live by doing financial gambling, because the house edge is lower and because there is a little bit less randomness. What is the more similar as gamble in the finance, is the trade of options I think, because it's very similar as betting.

AicecreaME

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Quote from: Slow death on October 18, 2019, 10:47:55 AM

Quote from: ?? on ??

We can only be successful in sports betting by our own, so don't rely to other people.

about that, one will have to do a lot of research to gain knowledge about sports betting, and in those searches it will depend on data published by others. It is important to always look for different opinions on the same subject so that you can have a good knowledge, I read some stories of people who have succeeded in the world of gambling, but they avoid talking about their strategies and their failures.

But still people are waiting for professional gambling tips, which they didn't know it was all lie, who would expose his secret in his field of expertise, no one, because if they do, everything will be destroy slowly, and if you will listen on those white lies, you will be destroy too. We have to accept the truth that we can't do all do the things that other people do, if your friend is making money in gambling, that doesn't mean you could do the same thing, we have different fields when it comes to our profession, let's stop imitating people, especially in the world of gambling.

Peashooter

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Maybe the richest person is the one who are making gambling as a profession because they have a lot of funds to bet or gamble. They just gamble their money and they earn while sitting and just playing in some casinos. You can meet those people in the famous casinos that they are the one who are just playing and they earn money. For me gambling as a profession is a hard time or a big risk taking because you can lose a lot of money by this and I see a lot of people down on debt because of gambling.

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Quote from: Lucasgabd on August 08, 2019, 08:42:50 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.

There is someone I know who is a friend of mine here in the Philippines in which he is paying by his boss in order to play in the casinos and his boss is giving him a budget that he needs to earn a profit and when he lost there is no need for him to pay the losses but when the gambler win there is a percentage of the money that he gambles out. I think even in different places all over the world there is someone that they are paying in order to play in the casinos.

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