Gambling as a profession: there's people who live out of gambling? - page 5.

Shasha80

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Quote from: traderethereum on February 25, 2021, 10:37:56 PM

Quote from: Vaskiy on February 25, 2021, 07:37:46 PM

Sports betting or casinos can be considered as source of income for living, but the bitter truth, it requires patience and shouldn't go out of control. Most of the time people loss out of gambling due to emotional failure. This means people slowly make an earning, and by the end of the day due to greed of making big money and lack of self control empties the Wallet within minutes.

It can be. But not many people can be wise to use sports betting or casinos as their source of income because they want to win more after one or two wins on sports betting.
If they can hold their emotion from becoming greedy, they can use sports betting as a source of income, but they still manage their bankroll carefully.
It will no problem if they are slowly earning from sports betting because they will see that their income will become bigger, and once it becomes bigger, they should very carefully.

It's true that people can make gambling a source of income to live, but the problem is only a few people are able to control their emotions so as not
to be greedy. Because if we can't control greed, instead of being a source of income, gambling can be a source of trouble. Because those who
cannot control their emotions can become addicted. Will definitely have financial problems and his life will be ruined. So my advice is to keep our mind
off of making gambling a source of income, if indeed the risk is very large. Make gambling into entertainment, much more useful.

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Quote from: Vaskiy on February 25, 2021, 07:37:46 PM

Sports betting or casinos can be considered as source of income for living, but the bitter truth, it requires patience and shouldn't go out of control. Most of the time people loss out of gambling due to emotional failure. This means people slowly make an earning, and by the end of the day due to greed of making big money and lack of self control empties the Wallet within minutes.

It can be. But not many people can be wise to use sports betting or casinos as their source of income because they want to win more after one or two wins on sports betting.
If they can hold their emotion from becoming greedy, they can use sports betting as a source of income, but they still manage their bankroll carefully.
It will no problem if they are slowly earning from sports betting because they will see that their income will become bigger, and once it becomes bigger, they should very carefully.

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Quote from: Botnake on February 25, 2021, 06:16:51 PM

Quote from: Lucasgabd on February 25, 2021, 04:15:42 PM

Quote from: Viscore on February 24, 2021, 05:56:40 PM

Quote from: Lucasgabd on February 24, 2021, 05:52:05 PM

Quote from: Finestream on February 24, 2021, 12:45:57 PM

Quote from: cryptobet24 on February 19, 2021, 12:08:41 PM

As far as I know, only about 1% of the players are profitable when playing at the betting sites, all the rest lose money and remain at a loss.

That's a very small percentage, it means casinos are filthy reach because of that percentage.
I'm not sure with the percentage, no one can tell actually, even the casinos themselves but one thing is sure, most of us are losing money in a casino.

These people who tried to make gambling as their profession are more like experience gamblers who think they can win in the long run.
It's very opposite of what typical gamblers think as they usually think of short term profit, that's why they loss most of the time.

just adding to your comments:
the thing with casinos is that they'll make money anyway, the house always wins, even when profitable gambles are playing games that depends more on skill than on pure luck, casinos won't be the ones losing a lot on the long run.

Exactly, because looking at the percentage, even if their winning rate is 60% over the overall gamblers, they are still making money, the higher the winning rate the more they'll make money, and in sports betting, there's always a commission they'll make on a winning bet, it's not necessary that they are the ones taking the bet but just a facilitator for gamblers.

but what are your opinions on the matter of sports betting?
any skill involved?
to me feels like it's simpy pure luck, but I'm not the biggest sports connoisseur

Sports betting needs skills to win although luck helps a lot but you only need to develop your skills so you can win consistently in the long run. If a sports bettor does not believe that skills can help them win, then they would not experiment to improve their skills and just rely on mere guts since in their minds this is just a luck based game.

There's a big difference between luck based games and skilled based games, and for me, I considered sports betting as a skilled based game.

I agree with you, I think that sports betting already escapes a bit from what is about the casino's profits and leaves behind the "house always wins" a bit. Being more specific to be able to live from sports betting is a life that always manages pure adrenaline, unless micro-bets are made and you do not live from it, in the same way it is a risky life, with more chances of winning than those of win at a casino.

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Sports betting or casinos can be considered as source of income for living, but the bitter truth, it requires patience and shouldn't go out of control. Most of the time people loss out of gambling due to emotional failure. This means people slowly make an earning, and by the end of the day due to greed of making big money and lack of self control empties the Wallet within minutes.

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Quote from: Lucasgabd on February 25, 2021, 04:15:42 PM

Quote from: Viscore on February 24, 2021, 05:56:40 PM

Quote from: Lucasgabd on February 24, 2021, 05:52:05 PM

Quote from: Finestream on February 24, 2021, 12:45:57 PM

Quote from: cryptobet24 on February 19, 2021, 12:08:41 PM

As far as I know, only about 1% of the players are profitable when playing at the betting sites, all the rest lose money and remain at a loss.

That's a very small percentage, it means casinos are filthy reach because of that percentage.
I'm not sure with the percentage, no one can tell actually, even the casinos themselves but one thing is sure, most of us are losing money in a casino.

These people who tried to make gambling as their profession are more like experience gamblers who think they can win in the long run.
It's very opposite of what typical gamblers think as they usually think of short term profit, that's why they loss most of the time.

just adding to your comments:
the thing with casinos is that they'll make money anyway, the house always wins, even when profitable gambles are playing games that depends more on skill than on pure luck, casinos won't be the ones losing a lot on the long run.

Exactly, because looking at the percentage, even if their winning rate is 60% over the overall gamblers, they are still making money, the higher the winning rate the more they'll make money, and in sports betting, there's always a commission they'll make on a winning bet, it's not necessary that they are the ones taking the bet but just a facilitator for gamblers.

but what are your opinions on the matter of sports betting?
any skill involved?
to me feels like it's simpy pure luck, but I'm not the biggest sports connoisseur

Sports betting needs skills to win although luck helps a lot but you only need to develop your skills so you can win consistently in the long run. If a sports bettor does not believe that skills can help them win, then they would not experiment to improve their skills and just rely on mere guts since in their minds this is just a luck based game.

There's a big difference between luck based games and skilled based games, and for me, I considered sports betting as a skilled based game.

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Quote from: Viscore on February 24, 2021, 05:56:40 PM

Quote from: Lucasgabd on February 24, 2021, 05:52:05 PM

Quote from: Finestream on February 24, 2021, 12:45:57 PM

Quote from: cryptobet24 on February 19, 2021, 12:08:41 PM

As far as I know, only about 1% of the players are profitable when playing at the betting sites, all the rest lose money and remain at a loss.

That's a very small percentage, it means casinos are filthy reach because of that percentage.
I'm not sure with the percentage, no one can tell actually, even the casinos themselves but one thing is sure, most of us are losing money in a casino.

These people who tried to make gambling as their profession are more like experience gamblers who think they can win in the long run.
It's very opposite of what typical gamblers think as they usually think of short term profit, that's why they loss most of the time.

just adding to your comments:
the thing with casinos is that they'll make money anyway, the house always wins, even when profitable gambles are playing games that depends more on skill than on pure luck, casinos won't be the ones losing a lot on the long run.

Exactly, because looking at the percentage, even if their winning rate is 60% over the overall gamblers, they are still making money, the higher the winning rate the more they'll make money, and in sports betting, there's always a commission they'll make on a winning bet, it's not necessary that they are the ones taking the bet but just a facilitator for gamblers.

but what are your opinions on the matter of sports betting?
any skill involved?
to me feels like it's simpy pure luck, but I'm not the biggest sports connoisseur

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Quote from: BevNation on February 24, 2021, 06:24:47 PM

I really don't understand how it works?
For people to be living there life's out of a guessed game and call it a profession. I'm confused!
Is this topic real and really applies to people that share this same earth as me...

Yes they are called professional gamblers, their main or only source of income comes from gambling, they are like professional traders. That doesn't exist in your country? How would you call them?

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Quote from: BevNation on February 24, 2021, 06:24:47 PM

I really don't understand how it works?
For people to be living there life's out of a guessed game and call it a profession. I'm confused!
Is this topic real and really applies to people that share this same earth as me...

For better understand try to check out videos in youtube and search "sports investing" or "making money in sports betting". You'll see a lot of videos explaining how it's possible, and this is actually possible but the chances are very low since the majority are not making money in sports, they are losing or spending money, you are exceptional if you belong to the ones who are actually making money.

BevNation

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I really don't understand how it works?
For people to be living there life's out of a guessed game and call it a profession. I'm confused!
Is this topic real and really applies to people that share this same earth as me...

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Quote from: cryptobet24 on February 19, 2021, 12:08:41 PM

As far as I know, only about 1% of the players are profitable when playing at the betting sites, all the rest lose money and remain at a loss.

I think 1% is too low. Although it's uncommon to make profit from gambling the real percentage must be higher, otherwise it wouldn't be an interesting activity for many gamblers:
How Often Do Gamblers Really Win?

Quote

The researchers found similar patterns: Only 13.5% of gamblers ended up winning, versus 11% among Bwin* customers, and the ratios of big losers to big winners were similarly large.

*Bwin is a major european online gambling concern which runs gambling sites. The results aren't recent, but they give some idea of gambling statistics.

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Quote from: Lucasgabd on February 24, 2021, 05:52:05 PM

Quote from: Finestream on February 24, 2021, 12:45:57 PM

Quote from: cryptobet24 on February 19, 2021, 12:08:41 PM

As far as I know, only about 1% of the players are profitable when playing at the betting sites, all the rest lose money and remain at a loss.

That's a very small percentage, it means casinos are filthy reach because of that percentage.
I'm not sure with the percentage, no one can tell actually, even the casinos themselves but one thing is sure, most of us are losing money in a casino.

These people who tried to make gambling as their profession are more like experience gamblers who think they can win in the long run.
It's very opposite of what typical gamblers think as they usually think of short term profit, that's why they loss most of the time.

just adding to your comments:
the thing with casinos is that they'll make money anyway, the house always wins, even when profitable gambles are playing games that depends more on skill than on pure luck, casinos won't be the ones losing a lot on the long run.

Exactly, because looking at the percentage, even if their winning rate is 60% over the overall gamblers, they are still making money, the higher the winning rate the more they'll make money, and in sports betting, there's always a commission they'll make on a winning bet, it's not necessary that they are the ones taking the bet but just a facilitator for gamblers.

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Quote from: Finestream on February 24, 2021, 12:45:57 PM

Quote from: cryptobet24 on February 19, 2021, 12:08:41 PM

As far as I know, only about 1% of the players are profitable when playing at the betting sites, all the rest lose money and remain at a loss.

That's a very small percentage, it means casinos are filthy reach because of that percentage.
I'm not sure with the percentage, no one can tell actually, even the casinos themselves but one thing is sure, most of us are losing money in a casino.

These people who tried to make gambling as their profession are more like experience gamblers who think they can win in the long run.
It's very opposite of what typical gamblers think as they usually think of short term profit, that's why they loss most of the time.

just adding to your comments:
the thing with casinos is that they'll make money anyway, the house always wins, even when profitable gambles are playing games that depends more on skill than on pure luck, casinos won't be the ones losing a lot on the long run.

Finestream

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Quote from: cryptobet24 on February 19, 2021, 12:08:41 PM

As far as I know, only about 1% of the players are profitable when playing at the betting sites, all the rest lose money and remain at a loss.

That's a very small percentage, it means casinos are filthy reach because of that percentage.
I'm not sure with the percentage, no one can tell actually, even the casinos themselves but one thing is sure, most of us are losing money in a casino.

These people who tried to make gambling as their profession are more like experience gamblers who think they can win in the long run.
It's very opposite of what typical gamblers think as they usually think of short term profit, that's why they loss most of the time.

Lucasgabd

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Quote from: cryptobet24 on February 19, 2021, 12:08:41 PM

As far as I know, only about 1% of the players are profitable when playing at the betting sites, all the rest lose money and remain at a loss.

similar to day traders, there are researches that shows that day traders often lose money and some keep ~~gambling~~ trading even after many losing years, out of addiction to it.

Quote from: KTChampions on February 19, 2021, 07:38:32 PM

Quote from: Lucasgabd on February 17, 2021, 11:04:22 AM

<...>

now, never heard about gambling analysts before... is there a clear difference?

Paradoxically, the market for "advisors" is quite large, especially in the sports betting environment. I don't know for what reason, but people are ready to pay money for the advice of unknown persons instead of competently analyzing the teams' chances and making a bet themselves. Perhaps this has something to do with the effective advertising that allows people to mislead about the competence of the advisor.

it's curious, I have the feeling that most people would opt to delegate their decisions to others, or follow authority, instead of being responsible for their own decisions.
but I may be wrong, of course.

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Quote from: Lucasgabd on February 17, 2021, 11:04:22 AM

regarding tipster and gambling analysts

it's hard to trust someone who has no skin in the game (totally recomment Taleb's book, even though he thinks 50k btc is the top Grin

)

now, never heard about gambling analysts before... is there a clear difference?

Paradoxically, the market for "advisors" is quite large, especially in the sports betting environment. I don't know for what reason, but people are ready to pay money for the advice of unknown persons instead of competently analyzing the teams' chances and making a bet themselves. Perhaps this has something to do with the effective advertising that allows people to mislead about the competence of the advisor.

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As far as I know, only about 1% of the players are profitable when playing at the betting sites, all the rest lose money and remain at a loss.

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Quote from: blockman on February 18, 2021, 04:19:08 PM

Quote from: Lucasgabd on February 17, 2021, 11:04:22 AM

regarding tipster and gambling analysts
<...>

That could be the same as the tipsters but they are more into the analysis of the game not just for sports betting. It can also be applied in other games like poker. Or maybe it's just really the same as the tipsters.
The title has just been made into it to make the name better.

I see, thanks for this information.

makes sense, maybe tipster may sound a bit negative for some? Huh

these are more related to people that work on the television or media, right?

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Quote from: Lucasgabd on February 17, 2021, 11:04:22 AM

regarding tipster and gambling analysts

it's hard to trust someone who has no skin in the game (totally recomment Taleb's book, even though he thinks 50k btc is the top Grin

)

now, never heard about gambling analysts before... is there a clear difference?

That could be the same as the tipsters but they are more into the analysis of the game not just for sports betting. It can also be applied in other games like poker. Or maybe it's just really the same as the tipsters.
The title has just been made into it to make the name better.

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Quote from: Hamphser on February 17, 2021, 05:53:22 PM

<...>

so, this is the thing, most of the times these people who live out of gambling will rely on some kind of skill game to be able to make a living, like poker, let' say
and not simply trust that pure luck games like the lottery will be enough for them to make a living...

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Of course there are people who do lives out into their gambling activity and making it as a source of income.

It might be sounding impossible but its attainable and there are indeed people who do really been doing this but doesnt mean that this one will really fit out everyone.
It all talks about skills and knowledge and of course some luck.We are talking about card and sports betting games which this thing
is really possible to attain.

Topic: Gambling as a profession: there's people who live out of gambling? - page 5. (Read 6953 times)