The remaining 1% are those who are making a living from gambling.
That's means gambling industry are so rich because they take the 99% chance of making money compared to only 1% of their gamblers who make a living in gambling. I don't know what percentage exactly but I do believe it's possible to make a living in gambling and 1% is just too small, maybe like 5%, but like I said, I really don't know because I myself is not making a living in gambling although in the past I tried to find ways to make it possible, but failed.
Its hard to determine the rate, but it's easy to determine who really are making profit in gambling, and it's non other than the gambling operators.
Aiming to make gambling as a living is a hard job, maybe the hardest kind of job in this world as we know that majority of the gamblers loses over time.
If we have enough capital, maybe the easiest way to make a living in gambling is just to start our own casino or gambling sites.
Contrary to the popular belief , casinos don't have huge profit margin. From my experience , they have less than 10%, after they pay all the taxes and licenses, and taxes for these kind of business are quite high. Truth to be told,i worked in Europe where taxes on these things are quite high, some specific places like Vegas or Macau might have lower taxes.
So it is not so easy, to just open casino and make easy money
I guess the question raised in this topic is more about online casinos
As it appears, they also should register their business somewhere as you can see references to places like Curacao (which seems to be a casino paradise). But other than that, I don't think you will have to pay any taxes as it would be hard to independently confirm the profits earned by a particular casino (though I can be wrong, of course). But it is still an interesting question to learn what their expenses are in this department (license costs, taxes, etc)
Well, when it comes to online casinos i am not sure what is procedure regarding licenses and how it goes, but i am sure that you have to pay taxes as any other online business. But it is more convenient to register your company somewhere with lower taxes.
Regarding physical casinos, beside all the taxes you have to pay, there are licenses too, and they are not cheap. Beside casinos, for some time i worked in something we call in my country ''Automat Club" , where you only have slot machines and electronic roulette, no live stuff.It was relatively small place, we had 60-70 slot machines and 2 electronic roulettes, and for 1 year license i think my employer had to pay 15000 euro,that's something like 16.5k USD (that was back in 2008), and when you add on that all possible taxes that are higher than for some regular business, you don't end with huge profit.
After working there, i must say i respect anyone going into that business, it ain't as easy as some would like to think.
