Topic: Making a living out of gambling. - page 2. (Read 208 times)

You can do it if you do arbitrage betting or EV+ betting but it has its own risks. If the casinos find out that you are doing these, they can close your accounts. It is pretty much impossible to turn gambling into a business by playing honest because the system is designed to make you lose. If it was possible to win all the time by playing honest then the casinos wouldn't exist.

I also don't believe that they won the amount, these gamblers won without investing their own money, they should also declare the amount of money they've loss or wager and money they've invested, the data make gambling appealing to those who want to venture seriously in gambling, it's still risky and these people are just lucky that they've won that amount of money but they will eventually lose it as gambling is still and will be luck-based game or profession, or whatever you want to call it.

Yea I think this should sum it up ngl. I mean no offense to those that want to, but realistically speaking, using gambling as a method to actually make a living means you need to have an immense amount of LUCK, something that can't really be manipulated unlike skills in let's say, sports, eSports, studies, etc.
Most careers don't tbh. Though if we do compare it to other careers, their basis of actually succeeding is different. As I said earlier, gambling relies on luck, and other careers (most of them) rely on both skill and luck (though luck is mostly about creating connections and not really related to how you are able to present yourself in your career)

I am not surprised to see them win a certain amount of money in gambling, if I read the entire article on your topic and I take one point as below.


Means: to become a professional gambler as said in the article, for that is my belief that they already spent a lot of money before winning a certain number of bets and one more thing their luck that day was good, the bad thing, I don't know.

We don't know if that percentage is accurate, however, I think 20% is too high for people who developed their skills and made a living in gambling. I just feel that there are only very few people who make a living in gambling, and I personally don't know one.

These people on the list are not even 1% of the total gamblers, we sure have millions of gamblers, some are losing a lot, while few are winning but overall, the gambling industry is still enjoying a lucrative profit.

You could possibly make a living out of gambling yet there's still a possibility that you could lose everything because of it. As for me, those people got their winnings because it's their luck, and to be honest, no matter how we try to master the techniques and strategies in gambling, we still couldn't guarantee that we could win if it isn't our luck.

Making a living out of gambling is possible but that is not recommended because we do not know how much money we will lose before winning big money. Many people already tried it but most of them failed to make money from gambling instead of losing much money, so we shouldn't try to make money from gambling. We can learn from people who already lose their money to avoid trying hard to make money from gambling because that is for our good.

Even some say that living through gambling is impossible then the reality there are really gamblers who do sustain out theirselves through gambliing.
Sounds impossible but its possible but only a few could able to handle it out and majority are been wrecked due to addiction and doesnt able to control
their emotions and usually people who do make a living with gambling is only possible with sportsbetting and card games like poker
but in talks about pure luck based ones then its impossible.

This isn't the list, there'll be more people who have made their living out of gambling. Now also there'll be people who have been living successful through gambling. In this 80% of the person's winning could've happened on being lucky whereas the rest 20% might've learned and developed different strategies to make a living out of gambling.

I'm a sports bettor so I got more interested in Billy Walter's journey, he is now a rich guy and in fact, if you guys are interested, you can see some youtube documentary about him that was uploaded a long time ago. I hope I'll be successful in the future, not as successful as him but enough to enjoy sports betting and making a living at the same time.

There may be a few players who have made tens of millions in profits from poker. But for every player who made millions, there may be thousands who lost their life savings. If you believe that you can make it to the top-100 or top-200 among the millions of poker players, then go for it. It is like the odds for a lottery jackpot. When someone purchases a lottery ticket, if he is in sound mental health, he will not say that "OK.. now I have taken the lottery ticket. Tomorrow I will win the jackpot. Let me sell all my assets now and waste them on partying". No issues in trying big with poker. But you should have a backup plan in case it doesn't work out.

Uhmmmm, I do t really consider things that occurs once in a blue moon or maybe to just one out of so many attempts or a single individual out of so many individual failures a very good thing. Though, it depends on the mindset you go about thees things with. Some people actually wants to make it a career and from where I stand, I don't feel its something that should be anyone's career except for the owner of the casino or platform then, it becomes a valuable investment just not your the regular gambler.

Infact, you can almost never make money out of the CEO of a casino but, for a gambler, the casinos or gambling platform can also reck them. So, you've got to have a way to go about checking your gambling habit so as not to ho all in and live in regrets. Be matured in gambling.

One can actually make a living out of gambling but the risk involved coupled with the uncertainty surrounding ones winning chances. In as much as the ROI isn't guaranteed one can't say gambling is a source of livelyhood since the income isn't consistent. Mind you know one wants to share his losses or I'll luck because no one will be willing to listen our major c concern is the victory so has our society conditioned us. Expecting this aforementioned names to tell you how much they have lost in gambling will not be possible but the bottom line remains gambling involves high risk to reward ratio.

Indeed not impossible, however, this should not be viewed as an easy journey for anyone who would attempt to make a living in gambling. These people who successfully do it are gifted, they are smart and lucky at the same time, if we don't possess that, then we better play for fun, that would give us entertainment and we will not face big financial problems.

The thing that inspires me is making a living from sports betting.

I wonder why they don’t say how much loss they’ve had in their entire career? how many defeats did they have? most people when they look at this amount of money that they won will think that everything is easy, that it is only taking money, go to some casino that will earn that amount of money too, I honestly do not see people who have won a lot of money with gambling as inspiration, I look at these people as people who have been lucky and that I’m not as lucky as they are, so I play with little money that I can afford to lose

You can make a living from gambling, but there is no financial assurance that you will not loose all your money first. There is no assurance either that if you make a career out of it, you will make it big, because gambling be it Sports gambling, blackjack, video poker etc requires a degree of expertise, chance, pattern recognition and luck (something some do not believe in).

Some examples of some Individuals who against all odds made a million and more out of gambling are;

(1) Benjamin Tucker “Parlay” Patz who won a $1 million out of parlays which is a type of sports bet in a few months.

(2) Billy Walters, who has made an estimated amount of $300 million out of  sports betting and gambling in his lifetime.

(3) Haralabos Voulgaris a greek Canadian who is a renowned gambler known for his exploits in the NBA sports betting and poker.

(4) Daniel Negreanu, a Canadian professional poker player who has earned over $42 million from poker.

(5) Phillip Dennis Ivey Jr., an American professional poker who has earned over $30 million from poker.

(6) Don Johnson a professional blackjack player who during a period of six months in 2011, beat Atlantic City casinos for over $15 million.

(7) Venessa Selbst, a formidable female who has made US$11.8 million in live poker tournament earnings.

Source- https://www.gamblingnews.com/blog/can-you-make-a-living-from-gambling/

In conclusion, It is not impossible to become a millionaire out of gambling, but at the same time it doesn't come easy as even after making it, it requires a level of discipline to hold on to the money you have made. To make it in gambling, you must first choose (select) the type of gambling that appeals more to you be it sports betting, poker, blackjack etc and then discipline yourself to discover a betting style or pattern that works for you. This is the first and foremost step in becoming a professional gambler and making a living out of it.