Career as a Professional Gambler

[memorycord85]

I know there are lots of professional gamblers out there. Personally, if you're like me, you try to stay away from any kind of gambling. Save for the occasional trip to Tahoe/Reno or Las Vegas in which case I'll throw a $20 on Black at the Roulette table and another $20 at a Black Jack or Bonus Poker video machine. I don't feel the need to convert cash into chips as I feel this is just another ploy or trap the casino uses to manipulate the patron by distancing them from the reality of throwing away their hard earned dollars by helping to make you feel like what your holding on to is not real and that it's more like monopoly money. 

But, I am and always have been curious about real professional gamblers. The guys that understand odds, statistics and numbers. Do you just need to know basic arithmetic and have a strong memory? Or, is there something more that is required to make a living in gambling? With all the losers and gambling addicts out there with their personal stories of tragedy and loss, what separates them from the winners? Is there discipline involved? If so, what kind of discipline? I'm not as fascinated by the millionaires in this field as I am of the Income earners, the ones who can manage to earn the same working a mid or upper level corporate job.

Having worked a number of 9 to 5 jobs in my life, I can assure you that the people out there who manage to figure out how to earn an income without having to submit an application, or answer to a boss they despise, or agree with an employee they can't stand, is something I truly admire.

Can anyone out there shed light on this topic? Has anyone been fascinated by the income earners of the gambling world? Does anyone have any success stories?

[Larryjh76]

As a professional gambler myself, the first thing I was taught was to learn the rules of the game you are playing, and the rules of the establishment you are playing in.  For instance, the rules of blackjack in a casino are different from the rules of blackjack that you play with a friend or a group of friends.  Also, the video poker machines give the player the greatest edge against the casino.  Slot machines give the greatest edge to the casino.  Here is another lesson I have learned from my time as a gambler:

(1)  Casinos are there to make money, period.  They make their money by using some psychology against the players.  Most players will go to a casino, and after a moment or two, will begin to win some money.  In the player's mind, he is thinking, "Yes, I won!  Now it's time to keep playing so I can win some more, because I'm on a roll!"  Well, now the player may win some more, and this just increases his enthusiasm to keep playing because he is on a roll.  And then, the player starts to lose money.  And then he loses some more.  Now he's thinking, "I've lost half of my money!  Okay, I'm going to keep playing until I make my money back, and then I'm outta here!"  Suddenly, the money the player won, is now gone!  Now the player, who is frustrated and emotional, says, "Okay, I'm going to gamble some more money, because I'm not gonna  just leave here empty handed!"  Shortly after this, the player has lost the money he won, and also the money he brought to the casino to gamble with.  He may even have cashed his paycheck at the casino in order to try to win back the money he lost!  Professional gamblers understand this scenario, so our rule is, "Big or small, whatever you win initially, take it and leave."  When the casino lets you win some money initially, it's time to cash out and leave immediately.  Short term, the player has a small edge; long term, the casino has a HUGE edge.  The casino will always win long term, so in order to win consistently, you must take anything you win and go home.  There's always another casino, and there's always tomorrow!

[Costi]

I know you are referring to gambling but I think we can easily include sports betting in this category. As a sports bettor I have to agree with Larryjh76. You can have a fairly consistent income from sports betting but just as Larryjh76 said. You need to know the rules very well and in the case of sports betting add the documentation and information you need to have about sports, teams, players, playing areas and much more. Many aspects need to be considered and I appreciate those who manage to make this a profession. And from my point of view I consider the sports bets much safer than the casinos