Gambling as a profession: there's people who live out of gambling? - page 42.

gandame

hero member

Activity: 924

Merit: 505

Quote from: ivorychris on October 09, 2019, 11:05:45 AM

Very interesting topic. Tell me im too old school however I still believe that gambling is still a win of luck.
Similar with trading its not always a winning trade even though you are a professional trader.

Yes its true that gambling is win of luck many people are getting poor because they are not lucky they are always lose. So they are broke no money no house and some they left there family for that gambling.
Also in trading you some can lose their capital and some are getting more benefits so they are similar because both are need luck to win.

Best Dreams

full member

Activity: 1008

Merit: 101

Quote from: Reatim on October 08, 2019, 02:00:35 AM

Quote from: Questat on October 07, 2019, 06:51:56 AM

Quote from: carlisle1 on October 07, 2019, 05:17:02 AM

because gambling industry don't just run in players/bettors there are many areas when you can earn in gambling without risking your money.you can lend inside casino for those who's put of cash with collateral and interest

That's only possible in physical casino but not in online, of course you can do that with a big capital and you have to charge the gambler with a big interest, you are always in the safe side since you have the collateral which is surely way higher than the amount you lent, I think usually who capitalize in this kind of deal are the casino owners as they have the capacity to lend big money.

What I believe is casino employees is whom doing this kind of business inside casino because they’re the one who’s in full contact with the players and they are monitoring each who’s on losing position ,and also they knew who are those bettors that has this attitude of pawning their things when at loss .i have met some casino employees that has this strategy and they are richer by now .and they are not going to work for their work pay but for the profits from the busines

If the casino holders are doing this so it’s not done the only thing that must be considered is fair playing of any game. I know the casino organizer remains fully in contact with each player so only they are the people who can create any situation so being a gamblers people will have to remain so careful and not to get in any casino without full satisfaction.

Ucy

sr. member

Activity: 2632

Merit: 403

Bisq is a Bitcoin Fiat Dex. Use responsibly

Quote from: partysaurus on October 05, 2019, 10:07:34 PM

Quote from: PeRo on October 05, 2019, 02:56:59 PM

The only people I know that made a fortune or are making a living from gambling are mostly cheating. Such as labeled cards for poker or other card games or other framed games. Gambling sometimes does give you money, but you cant live from that, you either spend it or lose it in another run, so it can't really be a profession.

thats not true! alot of people been making a living from poker for over 50 years atleast, just check out this bronson fella in poker hes been living of poker way before it was even popular in the main stream same with stu ungar and alot of other people.
Gambling is ancient and alot of people made aliving out of it through time!

I don't need to verify to believe this. I think it's possible. The most skillfull poker players will definitely win most of their bets if "they stay hidden"... This is skill-based gambling common sense but many find it hard to believe. Besides, poker is a skill-based game. The most skillfull players will always win and they probably live off poker.

ivorychris

newbie

Activity: 18

Merit: 0

Very interesting topic. Tell me im too old school however I still believe that gambling is still a win of luck.
Similar with trading its not always a winning trade even though you are a professional trader.

FlamingFingers

sr. member

Activity: 1344

Merit: 288

I know of some guys in my area that takes gambling as a full time job, they based their analysis and research on football betting alone, all they do is to pick up to 5-10 odds of games, but they invest heavily in each tickets, they are professionals in gambling and it's been paying them, the number of wins are more than loses

gabbie2010

sr. member

Activity: 2590

Merit: 322

SOL.BIOKRIPT.COM

Quote from: ?? on ??

Quote from: STT on October 06, 2019, 07:54:54 PM

Quote

making a living from gambling are mostly cheating

This is thinking in absolutes too much, not every horse racing bet has to predict 1st sometimes just getting the place bet right consistently would be good enough. Most of making gambling a regular source of income would be to even out the wins and losses.
You dont have to be the best or right every time, just beat the majority of the crowd betting in that game and its possible to get a gain without extreme odds needed to be won. I think a large part of poker players winning would be to find tables they can win on and out guess their opponents, if they were playing the best in the world every night then a profit is unlikely but a player who just finds less experienced player could do well enough. I'd hope to be that good some day, till then I dont over bet or expect too much.

People are saying that making a living in gambling is cheating because they don't have the skills.
You showed the right example and I think only those who really understands gambling deeply would believe that making a living in gambling is possible.

Winning consistently in gambling also requires some skill a newbie gambler who gambles for living should not have the mindset of gambling blindly else his account would be blown up within the shortest time, thus gambles who do it for a living takes their time to analyze and research well before playing their bets while there is the assurance of winning week in, week out.

wxa7115

hero member

Activity: 2702

Merit: 704

Bitcoin is GOD

Quote from: qwertyup23 on October 05, 2019, 12:41:06 AM

Quote from: Tipstar on October 03, 2019, 02:02:55 AM

Gambling is an industry that provides jobs to millions of people around the world.
There might be people living off on gambling wins but they'd soon run out of luck and end bankrupt and might even go insane or turn into a criminal.

There is a huge distinction between gambling that provides job opportunities for people AND people who gamble as their main source of income.

In the former, like you mentioned, it provides job opportunities to millions of people around the world. Not only does it contribute to the people but provides revenue for the country as well. The latter, however, is entirely different and significantly risky. They live around the edge wherein their main source of income is based on 70% luck and 30% skill.

And that is only true in the games in which your skill can affect the outcome, like poker, sports betting or blackjack, on the rest of the games the split of the percentages is 100% luck and 0% skill, this is something many do not want to acknowledge but it is the truth so there are many games that no matter what you do you cannot expect to be profitable while playing them and while some are able to get some profits out of them that is just because they were lucky.

And as we know you cannot rely on your luck when it comes to your profession because just when you need your luck the most it is sure to abandon you.

Natalim

hero member

Activity: 3038

Merit: 592

BTC to the MOON in 2019

Quote from: TopT3ns on October 07, 2019, 12:13:48 PM

If described between normal gamblers and professional gamblers it is 1: 1,000,000 meaning the bookies are never defeated they will continue to make a profit
If there are 10% of professional gamblers in this world, bookies will go bankrupt. Make gambling as entertainment if winning is just a bonus Wink

Definitely they won't as the math says they still has the advantage.
They can consider those loses as part of their operating expenses or whatever they called it as long as the result is still profit.

Gambling business is a very profitable business due to the high edge of the operators, that's why other countries are banning it, some are requiring a high taxes on casinos but they are still operating, so that would simply described how big the money they can get in this business.

Reatim

sr. member

Activity: 2828

Merit: 357

Eloncoin.org - Mars, here we come!

Quote from: Questat on October 07, 2019, 06:51:56 AM

Quote from: carlisle1 on October 07, 2019, 05:17:02 AM

because gambling industry don't just run in players/bettors there are many areas when you can earn in gambling without risking your money.you can lend inside casino for those who's put of cash with collateral and interest

That's only possible in physical casino but not in online, of course you can do that with a big capital and you have to charge the gambler with a big interest, you are always in the safe side since you have the collateral which is surely way higher than the amount you lent, I think usually who capitalize in this kind of deal are the casino owners as they have the capacity to lend big money.

What I believe is casino employees is whom doing this kind of business inside casino because they’re the one who’s in full contact with the players and they are monitoring each who’s on losing position ,and also they knew who are those bettors that has this attitude of pawning their things when at loss .i have met some casino employees that has this strategy and they are richer by now .and they are not going to work for their work pay but for the profits from the busines

BitcoinHunt3r

legendary

Activity: 2954

Merit: 1155

Leading Crypto Sports Betting & Casino Platform

Quote from: Prime Gold on October 07, 2019, 04:14:45 AM

Quote from: BitcoinHunt3r on October 07, 2019, 01:06:45 AM

Quote from: freedomgo on October 06, 2019, 02:32:33 AM

Quote from: BitcoinHunt3r on October 06, 2019, 01:39:49 AM

n count how much people success from gambling, but to said no one that can be rich from gambling i am not agree too. Maybe who already skilled or maybe who join some competition already have a lot of money from gambling so they are usually ready to win or lose.

These are people with skills who can make consistent money in gambling, and they are professional as well so they are always ready to accept loses.
People with such skills is always realistic, their decision always has the basis and not just based on gut feel or being superstitious just to attract luck.

Their approach is different from most gamblers that's why only few of the total gamblers who are successful in making money.

yes, that is why maybe not much people can do that. Because a lo tof people in this world only rely on their luck for win. And almost all of them don't have skill on it. Maybe that is what called every person's gift is different. Although with same strategy, not means will give same results.

Apart from strategy and luck I'm sure there are other factors but somehow they did it
I know one of the professional gambler, he is Vegas Dave. He made many victories and even made a living from gambling
of course he doesn't rely on luck, do you believe he relies on strategy? I honestly doubt, this is what I mean is there another factor

A lot of things people can use as their strategy like what you said about "another factor" maybe condition of opponent especially in card game or maybe like we can make them to doubt with their card, or whatever it is called.

TopT3ns

hero member

Activity: 2548

Merit: 572

#SWGT CERTIK Audited

If described between normal gamblers and professional gamblers it is 1: 1,000,000 meaning the bookies are never defeated they will continue to make a profit
If there are 10% of professional gamblers in this world, bookies will go bankrupt. Make gambling as entertainment if winning is just a bonus Wink

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: ?? on ??

People are saying that making a living in gambling is cheating because they don't have the skills.
You showed the right example and I think only those who really understands gambling deeply would believe that making a living in gambling is possible.

But I don't think that they can easily to cheating the gambling places because the gambling owner will prevent that even if they have skills. Yes, it is possible to make a living from gambling, but that will work for every gambler. Many people who are gamble still hoping that they can make a living in gambling, but they don't know, or they don't remember that it is difficult to get the money without having luck. So maybe they will only play the games and don't expect to win so who knows, the luck will come to them and give them a big jackpot.

MonsterV

legendary

Activity: 2212

Merit: 1008

Quote from: ?? on ??

Quote from: STT on October 06, 2019, 07:54:54 PM

Quote

making a living from gambling are mostly cheating

This is thinking in absolutes too much, not every horse racing bet has to predict 1st sometimes just getting the place bet right consistently would be good enough. Most of making gambling a regular source of income would be to even out the wins and losses.
You dont have to be the best or right every time, just beat the majority of the crowd betting in that game and its possible to get a gain without extreme odds needed to be won. I think a large part of poker players winning would be to find tables they can win on and out guess their opponents, if they were playing the best in the world every night then a profit is unlikely but a player who just finds less experienced player could do well enough. I'd hope to be that good some day, till then I dont over bet or expect too much.

People are saying that making a living in gambling is cheating because they don't have the skills.
You showed the right example and I think only those who really understands gambling deeply would believe that making a living in gambling is possible.

Many definitions of cheating are meant and they are different in every perspective. For example, in religion, we all know that gambling is prohibited in religion because it is not good and causes addictive activities. The obvious reason why cannot make gambling a place to make a living because gambling presents a great risk to the family's finances & economy. Ok maybe not everyone will run into financial risk, some might be rich because of gambling, but most of them may even be the opposite which can lead to crime because of this addictive activity.

Questat

hero member

Activity: 2982

Merit: 610

Quote from: carlisle1 on October 07, 2019, 05:17:02 AM

because gambling industry don't just run in players/bettors there are many areas when you can earn in gambling without risking your money.you can lend inside casino for those who's put of cash with collateral and interest

That's only possible in physical casino but not in online, of course you can do that with a big capital and you have to charge the gambler with a big interest, you are always in the safe side since you have the collateral which is surely way higher than the amount you lent, I think usually who capitalize in this kind of deal are the casino owners as they have the capacity to lend big money.

carlisle1

hero member

Activity: 2744

Merit: 541

Campaign Management?"Hhampuz" is the Man

Quote from: BitcoinHunt3r on October 06, 2019, 01:39:49 AM

Maybe we can count how much people success from gambling,

that's truly correct because only few becomes successful when many failed

Quote

but to said no one that can be rich from gambling i am not agree too.

i personally knew some who turns to become richer in gambling industry

Quote

Maybe who already skilled or maybe who join some competition already have a lot of money from gambling so they are usually ready to win or lose.

because gambling industry don't just run in players/bettors there are many areas when you can earn in gambling without risking your money.you can lend inside casino for those who's put of cash with collateral and interest

mirakal

legendary

Activity: 3108

Merit: 1290

Leading Crypto Sports Betting & Casino Platform

Quote from: lienfaye on October 07, 2019, 03:57:39 AM

Quote from: PeRo on October 05, 2019, 02:56:59 PM

The only people I know that made a fortune or are making a living from gambling are mostly cheating.

Maybe there are some who cheat but we cant generalize those who manage to win as a cheater. I know few people who treat gambling as their profession/source of income just like my cousin, he is a regular cock fighting gambler and a breeder of cock (rooster) thats how he make a living.

Its hard to win in gambling and make it as a profession because we know how risky it is but there are really people who can take it as a profession. It might hard for us who think its impossible but for them there's a way, gain knowledge and be a risk taker.

They are smart enough if they can cheat, but I doubt it will not be notice by a casino, they know that they are doing a profitable business and they are expecting to win most of the time, and when there's someone cheating, they will know that the pattern is not normal, so they will discover it easily, provided they have a very good system to audit transactions within.

Prime Gold

sr. member

Activity: 742

Merit: 251

Quote from: BitcoinHunt3r on October 07, 2019, 01:06:45 AM

Quote from: freedomgo on October 06, 2019, 02:32:33 AM

Quote from: BitcoinHunt3r on October 06, 2019, 01:39:49 AM

n count how much people success from gambling, but to said no one that can be rich from gambling i am not agree too. Maybe who already skilled or maybe who join some competition already have a lot of money from gambling so they are usually ready to win or lose.

These are people with skills who can make consistent money in gambling, and they are professional as well so they are always ready to accept loses.
People with such skills is always realistic, their decision always has the basis and not just based on gut feel or being superstitious just to attract luck.

Their approach is different from most gamblers that's why only few of the total gamblers who are successful in making money.

yes, that is why maybe not much people can do that. Because a lo tof people in this world only rely on their luck for win. And almost all of them don't have skill on it. Maybe that is what called every person's gift is different. Although with same strategy, not means will give same results.

Apart from strategy and luck I'm sure there are other factors but somehow they did it
I know one of the professional gambler, he is Vegas Dave. He made many victories and even made a living from gambling
of course he doesn't rely on luck, do you believe he relies on strategy? I honestly doubt, this is what I mean is there another factor

lienfaye

hero member

Activity: 3010

Merit: 629

Quote from: PeRo on October 05, 2019, 02:56:59 PM

The only people I know that made a fortune or are making a living from gambling are mostly cheating.

Maybe there are some who cheat but we cant generalize those who manage to win as a cheater. I know few people who treat gambling as their profession/source of income just like my cousin, he is a regular cock fighting gambler and a breeder of cock (rooster) thats how he make a living.

Its hard to win in gambling and make it as a profession because we know how risky it is but there are really people who can take it as a profession. It might hard for us who think its impossible but for them there's a way, gain knowledge and be a risk taker.

BitcoinHunt3r

legendary

Activity: 2954

Merit: 1155

Leading Crypto Sports Betting & Casino Platform

Quote from: freedomgo on October 06, 2019, 02:32:33 AM

Quote from: BitcoinHunt3r on October 06, 2019, 01:39:49 AM

n count how much people success from gambling, but to said no one that can be rich from gambling i am not agree too. Maybe who already skilled or maybe who join some competition already have a lot of money from gambling so they are usually ready to win or lose.

These are people with skills who can make consistent money in gambling, and they are professional as well so they are always ready to accept loses.
People with such skills is always realistic, their decision always has the basis and not just based on gut feel or being superstitious just to attract luck.

Their approach is different from most gamblers that's why only few of the total gamblers who are successful in making money.

yes, that is why maybe not much people can do that. Because a lo tof people in this world only rely on their luck for win. And almost all of them don't have skill on it. Maybe that is what called every person's gift is different. Although with same strategy, not means will give same results.

STT

legendary

Activity: 4060

Merit: 1448

Quote

making a living from gambling are mostly cheating

This is thinking in absolutes too much, not every horse racing bet has to predict 1st sometimes just getting the place bet right consistently would be good enough. Most of making gambling a regular source of income would be to even out the wins and losses.
You dont have to be the best or right every time, just beat the majority of the crowd betting in that game and its possible to get a gain without extreme odds needed to be won. I think a large part of poker players winning would be to find tables they can win on and out guess their opponents, if they were playing the best in the world every night then a profit is unlikely but a player who just finds less experienced player could do well enough. I'd hope to be that good some day, till then I dont over bet or expect too much.

Topic: Gambling as a profession: there's people who live out of gambling? - page 42. (Read 6953 times)