Topic: The journey of successful business man who were professional gamblers - page 2. (Read 601 times)

I highly agree with that since relying solely on casino to start your business is not advisable and indeed very risky, but it's not that earning from gambling is unacceptable, it's just that this is not for everyone. I also believe that this isn't the only source of income they have, and since they are entrepreneurs they do know the risks involved and how to manage their finances and investment. In short they got lucky enough to win those amazing prizes and used it as an additional investment to further increase their networth.

This proves that the money earned through the casino can be used professionally to establish themselves. But the number will not be very high and that success is not very easy to achieve. Keeping money from casino gambling is not possible for everyone. But there is no evidence that those who have succeeded here have only collected money from casinos. But I won't deny that they probably use that money. Maybe they have other more financial sources.

If become a professional gambler will make them rich and easy to make money, they wouldn't jump become a businessman, so the conclusion is a professional gambler isn't a good way to make money, but become a businessman is better.

Or maybe they're get restricted or blacklisted by those casinos because they always make money on the casinos, so they don't have any way to continue to make money except become the house or looking for the other opportunity.

You gave a very good example of a garage worker. As I said above, these people succeeded in their lives because of their personal qualities and hard work and only in part because of gambling winnings.

If the garage attendant does not have qualities that would help him to multiply the money he has, then no matter how much money he wins, he will still go back to working in a garage, because he probably can't do anything else.

And scammers! Like Calvin, who out of his feel for charity supports a mentally challenged doctor of theology CSW. He probably made Calvin believe God made him invent bitcoin.

From wikipedia:
In 2012, Ayre was indicted by the US Attorney for Maryland on charges of illegal gambling and money laundering.

It's great that  they made their fortunes in gambling industry, I have nothing against that, but what's the point of the thread? If you think you can make it in this business, think again. These people weren't starting with nothing and aren't really role models to follow in all aspects.

OP you managed to pull out 6 names all over the world but what about the winning ratio, I assume that it will be atleast 1 in a million so never try to get admire from this and try to make money via gambling then you can be a one successful individual too.

I remember one of the famous story about lottery winner who used to work as in a garage or something and won millions of dollars in lottery but in next 4 or 5 years he again came back to same work after exhausting all the money from lottery winnings.

There are some people who can dream and some others who dare to it. Many of those who can dream big but some times can't make it through traditional platforms. Today I will mention the names of some people who started their business life with the help of gambling money. Who were initially professional gamblers later became reputed businessman. Many of whom are now active philanthropists, supporting various charities. If responsible gambling can be practiced then luck can be expended. He can make himself known differently in a shortest possible of time.

Sheldon Adelson- The founder of the Las Vegas Sands Corporation, The Venetian and The Palazzo in Las Vegas and Marina Bay Sands in Singapore.

Kirk Kerkorian- He founded MGM Resorts International, the airline company and  Trans International.

Steve Wynn- He founded Wynn Resorts, Wynn Las Vegas and Encore Las Vegas.

Calvin Ayre- Founder of Bodog Entertainment.

Terry Benedict- Founder of BJB Properties.

Tony Bloom- Founder and owner of the Brighton & Hove Albion Football Club and.

Phil Ruffin- Treasure Island Hotel, a casino in Las Vegas and the Wichita Greyhound Park.

If one tries to change the destiny he may succeed or fail but he may get a result. But there are many people in the world who only dream inactively without taking any initiative.

But one should keep in mind that gambling is a risky platform. As there are lot of histories of victory, there will be defeats as well. Use gambling money as much as you can afford to lose.

Well many people keep saying the casino always win and you will make a lot money after creating a casino, but it's not that simple because the developer need to pay a programmer to create the site, pay the operational costs e.g. live support, marketing etc, they need to pay license, pay the gambling provider etc. If there's not many gamblers who want to gamble, the casino will not make any profit and they need to keep paying the operational costs.

Gambling is a place of entertainment that anyone can enter to kill their bad mood or have a bad time. And in this case, big businessmen can definitely take up gambling to keep their mind away from various worries and keep their mind happy this time.  This is a normal thing. Because the source of money for big businessmen is their business.  So from gambling they don't care about winning they go there only for entertainment. Not only businessmen but also many rich people choose gambling as their place of entertainment nowadays.

Gambling is a place of entertainment that anyone can enter to kill their bad mood or have a bad time. And in this case, big businessmen can definitely take up gambling to keep their mind away from various worries and keep their mind happy this time.  This is a normal thing. Because the source of money for big businessmen is their business.  So from gambling they don't care about winning they go there only for entertainment. Not only businessmen but also many rich people choose gambling as their place of entertainment nowadays.

It's a continuous business, so making money will be unlimited as long as they can preserve the greatness of their venues.
But these guys didn't really start their business by making money at gambling first. Correct me if I am wrong. There are loads of stories about people who won in gambling but ended up in a different industry.
A strong example is the founder of the FedEx company.
https://en.wikipedia.org/wiki/Frederick_W._Smith#:~:text=In%20the%20early%20days%20of,the%20company's%20%2424%2C000%20fuel%20bill.

In the early days of FedEx, Smith had to go to great lengths to keep the company afloat. In one instance, after a crucial business loan was denied, he took the company's last $5,000 to Las Vegas and won $27,000 gambling on blackjack to cover the company's $24,000 fuel bill. It kept FedEx alive for one more week.[13]

There must be a connections and a strong family background, not unless you hit the biggest jackpot and for sure your connections will just pop-up like a mushroom because you already have the money now. Anyway, doing this business is not easy and we are talking about a multi billion casino here so for sure they also have a good partners and investors. If you are just a small gambler like me, its better to think for a business that are more realistic, even if you gamble that much if you are not lucky you will never win the jackpot.