Gambling as a profession: there's people who live out of gambling? - page 44.

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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.

Considering gambling as a profession isn't a new idea on the history of mankind. Many Asian countries before was a powerhouse in terms of the gambling industry. Some customers did manage to make living out of it because they realize the trick in winning. This strategy however, is difficult in online gambling. Most games right now in online gambling are not profitable, tho some can be self sustaining. It all goes down to the player's skills and if he is good enough to dodge those probability to lose, he can pretty sure make a living out of it.

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Quote from: owengtam09 on October 03, 2019, 01:37:27 AM

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 heard a story before that the way of their living is from gambling. There is a couple who shares their story on national television and the husband win million because of gambling, they buy their house because of gambling but instead of thinking wise, they got greedy so, instead of saving their winnings, they play again and again and lose their winnings one by one. So I think it really depends on the situation because not all the time, luck is with us.

That is a bad decision for them to play again and again. But they don't use gambling as a daily job because I don't think that they will have money to treat gambling as a job or profession. Maybe they are playing the lottery or something like that which they don't always come to the gambling place and spend a whole day playing gambling. The possibility for the gambler to make gambling as a profession will be at a pro poker game. I am sure that some people can master poker games, and they have high skills.

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Quote from: Tipstar on October 03, 2019, 01:02:55 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.

Also some has a gambling profession,dealers and hotel keepers for the casino is living with gambling to feed their family’s

But indeed this can turn a people to become criminal if they are addicted ,many news in the past or even until these days that gamblers life ruined because of addiction
So if you really wanna live in gambling then you must know what you are doing

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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 heard a story before that the way of their living is from gambling. There is a couple who shares their story on national television and the husband win million because of gambling, they buy their house because of gambling but instead of thinking wise, they got greedy so, instead of saving their winnings, they play again and again and lose their winnings one by one. So I think it really depends on the situation because not all the time, luck is with us.

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Quote from: iyah adrian on October 02, 2019, 01:01:53 PM

I now believe, there are people who can live in gambling. In fact this is indeed a profession for some people.

In this way, not everyone can do it. Unless the person has found a way to find money in gambling. Then he will continue to play every day, for the initial purpose of profit. Because this is a job or profession, so this profession can indeed be done.

But that would be a risky profession because he uses the money for playing gambling. He will expect to get a win in every game he played, but the reality will not be the same as what he thinks because his chance to get lost can happen at any time. There is no way for him always to win every time he played gambling because that will depends on the luck. So he needs to think about searching the other jobs, so he doesn't have to have hope to always win in gambling. By getting the other jobs, he could continue playing gambling, but he still has an income from his daily job.

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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.

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Gambling could be a profession if you are skilled in gambling such as in card game like poker. But for me gambling is not a good way to make a living because it might make you a gambling addict. There are professional poker players who are millionaire and watching the raise their bet to thousands of dollars during a tournament and losing is really nerve breaking. I cannot imagine my self betting that huge amount of money.

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Quote from: Kasabus on October 02, 2019, 06:20:05 AM

Quote from: TheNewAnon135246 on October 02, 2019, 02:29:25 AM

Living off gambling would be very hard where I live, due to the high amount of taxes.

I think the first thing you have to consider is on how to win, and taxes would not be a problem if you keep winning.
If I'm not mistaken, you will be tax based on your income, so income after tax, you will still end up profitable with your net income. Right?

Yeah if you will gamble and you will win so in gambling you will get a chance to earn huge profit. Paying your tax is an additional benefit from your gambling. While gambling you gets an opportunity pay your tax, your bills and other needs it’s put in your monthly income which you can use to fulfil all your daily based needs including tax and bills.

Will be very good game then if someone only think about tax and not really care about how to win. Because out there a lot of people rely their life on gambling. Maybe this gift is not given to every people, and i think that man above need to grateful to his life for now.

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you cant make a living gambling with the odds against you it just does not make any sense you have to come out ahead.
That why poker does work because you can get better odds vs people of less skill then you
but if you are just trying to gamble at a dice site of course you will not win if you do it a lot you always lose on avg

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I now believe, there are people who can live in gambling. In fact this is indeed a profession for some people.

In this way, not everyone can do it. Unless the person has found a way to find money in gambling. Then he will continue to play every day, for the initial purpose of profit. Because this is a job or profession, so this profession can indeed be done.

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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.

In my own personal opinion, there are no such person who consider himself or herself a professionals gambler because it will be difficult for you to live if you gamble all day. It will not be consider as a living or a profession because it is already an addiction to gambling. Gambling is not one of the good ways for you to earn money because even you experience a win streak you will still end up losing all of it.

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Quote from: Ridwan Fauzi on October 02, 2019, 07:38:03 AM

Quote from: Kasabus on October 02, 2019, 06:20:05 AM

Quote from: TheNewAnon135246 on October 02, 2019, 02:29:25 AM

Living off gambling would be very hard where I live, due to the high amount of taxes.

I think the first thing you have to consider is on how to win, and taxes would not be a problem if you keep winning.
If I'm not mistaken, you will be tax based on your income, so income after tax, you will still end up profitable with your net income. Right?

And yeah he will have two problems at least, risking his money to gamble if he loses and he can't get anything but if he just win then he will divide his income to pay tax and gamble again. No wonder and deserve to make gambling is not a source income for him. Actually I don't know how much money that should be spend by some gambler when their government oblige to pay taxes from gambling results, since I just live in the country who which does not require paying taxes from gambling.

Its expected that in big countries, their IRS are strict when it comes to taxes as tax is the lifeblood of the government, so they have to maximize their tax collection so they can continue to develop their country and tax evasion is a big crime that could bring the perpetrators to jail, so a citizen of such country will surely ensure they will pay the right taxes, for us who belongs in countries that does not require tax on gambling, we might not feel the pressure of possible tax evasion.

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Quote from: Kasabus on October 02, 2019, 06:20:05 AM

Quote from: TheNewAnon135246 on October 02, 2019, 02:29:25 AM

Living off gambling would be very hard where I live, due to the high amount of taxes.

I think the first thing you have to consider is on how to win, and taxes would not be a problem if you keep winning.
If I'm not mistaken, you will be tax based on your income, so income after tax, you will still end up profitable with your net income. Right?

And yeah he will have two problems at least, risking his money to gamble if he loses and he can't get anything but if he just win then he will divide his income to pay tax and gamble again. No wonder and deserve to make gambling is not a source income for him. Actually I don't know how much money that should be spend by some gambler when their government oblige to pay taxes from gambling results, since I just live in the country who which does not require paying taxes from gambling.

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Quote from: Kasabus on October 02, 2019, 06:20:05 AM

Quote from: TheNewAnon135246 on October 02, 2019, 02:29:25 AM

Living off gambling would be very hard where I live, due to the high amount of taxes.

I think the first thing you have to consider is on how to win, and taxes would not be a problem if you keep winning.
If I'm not mistaken, you will be tax based on your income, so income after tax, you will still end up profitable with your net income. Right?

I agree with you, tax is not a problem if you are consistently winning in gambling, you are like having a profitable business where you are required to pay for your taxes. I don't know exactly what TheNewAnon135246 means about his statement, if he could expound it, it would be better so we can all get his real point.

In every country there are different tax system, and in our country, I can hide my winning and therefore I don't have to remit taxes on it.

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exactly, Pro poker players are professional gamblers, indeed. Those are people who spend their lives to polish their skills and their style of playing card games.
If you polish your skills in gambling, become known, you can meet them at the same table.

Or, alternatively, you can just be born rich, and play in those massively hyped tournaments with tens of thousands USD buy-ins. You can spot those guys watching High Stakes Poker on YouTube. The funny part is that some people think that they have made their fortune with poker, while, in fact, they mostly lose playing this game. And when they win, they make a big show out of it, saying to everybody that they make their living from playing poker. Why? Because it sounds cool, that's why. Much cooler than the true story of their life anyway.

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I have a friend who works for a living by gambling. he once told me if he could provide for his family with gambling results.
and I ask him. Can you get money from gambling every day? he answered not necessarily every day to get money from gambling.
and I ask again, if not every day can make money from gambling how can you meet the needs of your family? he answered, even though not every day but when I get the results of gambling I get more money and be able to meet the needs of my family in the next few days.
and I concluded that gambling cannot be made a permanent job to meet daily needs

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Quote from: TheNewAnon135246 on October 02, 2019, 02:29:25 AM

Living off gambling would be very hard where I live, due to the high amount of taxes.

I think the first thing you have to consider is on how to win, and taxes would not be a problem if you keep winning.
If I'm not mistaken, you will be tax based on your income, so income after tax, you will still end up profitable with your net income. Right?

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Living off gambling would be very hard where I live, due to the high amount of taxes.

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Quote from: Pearls Before Swine on October 01, 2019, 10:38:30 PM

Quote from: deisik on October 01, 2019, 03:02:33 AM

Quote from: ChrisPop on October 01, 2019, 02:01:26 AM

Regarding sportsbetting I know people that trade the change of odds while the match is happening and they make a pretty consistent gains. It requires quite a learning curve, but it's worth it especially if you are passionate about sports

I can only guess the psychological pressure they must be under

Not only in sports betting but any game which involves chance. Anybody who's ever gambled knows the kinds of emotions evoked either during a winning streak or a complete crapout. People tend to conceal those emotions pretty well, but that doesn't mean they aren't present. It's got to be like an emotional rollercoaster betting or playing poker or whatever and knowing you have to come out ahead just to pay your rent and eat

Yep, we can summarize that as follows:

Whenever you are running out of time (sportbetting in the given circumstances, arbitrage in trading, poker in general, etc) and forced to make a decision, you will be under severe stress (which may well end in distress). It is not something which most people can enjoy in general and no one can enjoy it all the time. It is called burning out when it starts to take its toll on one's health. That's where you should stop and probably switch to games (or varieties of trading) where the factor of time is either negligible (as in dice when manual) or doesn't have such a devastating effect on one's psyche and state of mind (turning you into a neurotic)

Quote from: Apes on October 01, 2019, 11:30:00 PM

people who have a family would rather seek income from work that has a fixed salary, they will not sacrifice their families from uncertain income

If this "uncertain income" can last you and your family for a couple of years, I don't see any advantage in taking a regular job. Some people cannot live even on a fixed income, big or small

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Quote from: Republikcoin.com on October 01, 2019, 10:24:53 PM

although they also depend on gambling, I think it requires considerable risk, courage, and capital. not always people will win in gambling, so they must have a deposit for it. I also rarely see people who depend their lives on gambling, especially if they already have their own families.

people who have a family would rather seek income from work that has a fixed salary, they will not sacrifice their families from uncertain income
for example from gambling

Quote from: peter0425 on October 01, 2019, 10:33:17 PM

That’s the hard part to consider,gambling wasn’t for everyone to profit but for all to enjoy.

Gambling can be a fortune for few but a nightmare for many if mishandled and treat carelessly,we cannot win in gambling by money but we can win by fun

Let professionals make money here but don’t risk to become one if we aren’t really deserving

professionals are used to facing of their jobs risks, in my opinion because they already have a second plan and are ready to anticipate it if they face the worst scenario of gambling, like bankruptcy.

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