Gambling as a profession: there's people who live out of gambling?

[ethereumhunter]

Just curious here.
I know there are tons of way to live.

but is there such a thing as professional gamblers?

people who make a living onlyout of gambling (online or on rl)?

resources and comments on that are really welcome.

yes there are, a lot of professional gamblers are making a living using gambling. if you know the poker tournament, huge pot money are always on the line.
Those professionals, they live as a gambler, that's their profession.

That tournament is only for the pro poker player, but maybe there is some player who doesn't have very good skills, and they want to test the skills among the other players. Maybe we can meet someone or more who can live out from gambling so we can ask him/her how he/she can do that and what is needed to become a pro in gambling. After we know, maybe we can take their lesson to ourselves.

[1715471874]

1715471874

[1715471874]

1715471874

[1715471874]

1715471874

[1715471874]

1715471874

[1715471874]

1715471874

[ChrisPop]

Besides poker and sportsbetting there is no other lucrative method to live out of gambling. Maybe blackjack if you know how to count cards but nowadays with those deck shufflers in every casino that strategy is not really viable anymore so rest in pace card counters 

Regarding sportsbetting I know people that trade the change of odds while the match is happening and they make a pretty consistent gains. It requires quite a learning curve, but it's worth it especially if you are passionate about sports.

[deisik]

Regarding sportsbetting I know people that trade the change of odds while the match is happening and they make a pretty consistent gains. It requires quite a learning curve, but it's worth it especially if you are passionate about sports

I can only guess the psychological pressure they must be under

I suspect it is pretty much like arbitrage in trading. A few years ago I was making decent monies by arbitraging doges (it was quite profitable back in the day, idk about now) but what a hell of a job was that! In fact, I was able to multiply my starting capital like 8x within just six months or so (maybe, even less than that) but in the end I had had enough of it and switched to regular trading, which doesn't give me so much stress and anxiety

[Betwrong]

~
To be able to make a living entirely out of gambling may seem impossible but am totally sure that it is achievable, getting to know poeple who fixed games is the very step when it comes to it, Match fixing is actually very common if you know the person to talk,by betting on fixed races,fights and games one will be able to live on the money generated from gambling.

That's basically participating in cheating. To be honest, if I was 15 years old, I'd probably try it (I remember doing stupider things at that age). But no way I would engage in such activity now, knowing the possible consequences. And I don't mean cops even. People engaged in crime activity (and match-fixing is a crime), are, actually, not the types you want to deal with. They are, mostly, bad people. And you will end up badly, sooner or later, if dealing with them.

[Apes]

if a professional gambler is used to make a living from gambling. in daily life rarely people who depend on gambling, because of the fluctuate income. most people just play to get extra income and fill spare time.

[pieppiep]

Exactly to become a professional gambler we will have to get skills in games we like to gamble. Poker is also good game I have seen experts who wins huge amount of dollars at single sitting. So to become like them it’s important to have practice, money, well trusted casino and a partner, try to gamble with fun it increases the chances to win.

Poker can be a good choice if you want to become a professional gambler, but we need to have skills to wins the games. For some people, to learn poker will be difficult and I don't think that they can master the games if they don't have passion for the card games. By practicing the games with many people, we can have experience which will improve the skill. The experience will be needed for every poker gambler because they can anticipate every moves from the opponent.

[AliMan]

if a professional gambler is used to make a living from gambling. in daily life rarely people who depend on gambling, because of the fluctuate income. most people just play to get extra income and fill spare time.

Maybe some of them were already professional particular on handling gambling pressures, but not with profit. Lucky wins was only the probability of a gambler to gain from his invested bets. Once he enjoyed the company of lucky betting game, it became a daily routine and most people tend to become habitually addicted.

[Republikcoin.com]

if a professional gambler is used to make a living from gambling. in daily life rarely people who depend on gambling, because of the fluctuate income. most people just play to get extra income and fill spare time.

although they also depend on gambling, I think it requires considerable risk, courage, and capital. not always people will win in gambling, so they must have a deposit for it. I also rarely see people who depend their lives on gambling, especially if they already have their own families.

[peter0425]

if a professional gambler is used to make a living from gambling. in daily life rarely people who depend on gambling, because of the fluctuate income. most people just play to get extra income and fill spare time.

although they also depend on gambling, I think it requires considerable risk, courage, and capital. not always people will win in gambling, so they must have a deposit for it. I also rarely see people who depend their lives on gambling, especially if they already have their own families.

That’s the hard part to consider,gambling wasn’t for everyone to profit but for all to enjoy.

Gambling can be a fortune for few but a nightmare for many if mishandled and treat carelessly,we cannot win in gambling by money but we can win by fun

Let professionals make money here but don’t risk to become one if we aren’t really deserving

[Pearls Before Swine]

Well there are tons of professional poker players that manages to win hundreds of thousands, if not millions in one seating/tournament.

And that's a game of both luck and skill, but you can bet your ass that nobody makes an actual bona fide living at the craps table or with slot machines.  There are also skilled sports bettors, which is probably a better way to make money than poker but you've really got to have a lot of knowledge about far more things than what's in poker game.

Personally I couldn't see gambling for a living, but I'm sure its the fantasy of a lot of forumites here who gamble maybe more than they should. 

I also rarely see people who depend their lives on gambling, especially if they already have their own families.

I don't either except on TV during televised poker tournaments.  As to your second point, it would be almost irresponsible being a 'professional' gambler if you have a family to support. 

Regarding sportsbetting I know people that trade the change of odds while the match is happening and they make a pretty consistent gains. It requires quite a learning curve, but it's worth it especially if you are passionate about sports

I can only guess the psychological pressure they must be under

Not only in sports betting but any game which involves chance.  Anybody who's ever gambled knows the kinds of emotions evoked either during a winning streak or a complete crapout.  People tend to conceal those emotions pretty well, but that doesn't mean they aren't present.  It's got to be like an emotional rollercoaster betting or playing poker or whatever and knowing you have to come out ahead just to pay your rent and eat.

[Apes]

although they also depend on gambling, I think it requires considerable risk, courage, and capital. not always people will win in gambling, so they must have a deposit for it. I also rarely see people who depend their lives on gambling, especially if they already have their own families.

people who have a family would rather seek income from work that has a fixed salary, they will not sacrifice their families from uncertain income
for example from gambling

That’s the hard part to consider,gambling wasn’t for everyone to profit but for all to enjoy.

Gambling can be a fortune for few but a nightmare for many if mishandled and treat carelessly,we cannot win in gambling by money but we can win by fun

Let professionals make money here but don’t risk to become one if we aren’t really deserving

professionals are used to facing of their jobs risks, in my opinion because they already have a second plan and are ready to anticipate it if they face the worst scenario of gambling, like bankruptcy.

[deisik]

Regarding sportsbetting I know people that trade the change of odds while the match is happening and they make a pretty consistent gains. It requires quite a learning curve, but it's worth it especially if you are passionate about sports

I can only guess the psychological pressure they must be under

Not only in sports betting but any game which involves chance.  Anybody who's ever gambled knows the kinds of emotions evoked either during a winning streak or a complete crapout.  People tend to conceal those emotions pretty well, but that doesn't mean they aren't present.  It's got to be like an emotional rollercoaster betting or playing poker or whatever and knowing you have to come out ahead just to pay your rent and eat

Yep, we can summarize that as follows:

Whenever you are running out of time (sportbetting in the given circumstances, arbitrage in trading, poker in general, etc) and forced to make a decision, you will be under severe stress (which may well end in distress). It is not something which most people can enjoy in general and no one can enjoy it all the time. It is called burning out when it starts to take its toll on one's health. That's where you should stop and probably switch to games (or varieties of trading) where the factor of time is either negligible (as in dice when manual) or doesn't have such a devastating effect on one's psyche and state of mind (turning you into a neurotic)

people who have a family would rather seek income from work that has a fixed salary, they will not sacrifice their families from uncertain income

If this "uncertain income" can last you and your family for a couple of years, I don't see any advantage in taking a regular job. Some people cannot live even on a fixed income, big or small

[TheNewAnon135246]

Living off gambling would be very hard where I live, due to the high amount of taxes.

[Kasabus]

Living off gambling would be very hard where I live, due to the high amount of taxes.

I think the first thing you have to consider is on how to win, and taxes would not be a problem if you keep winning.
If I'm not mistaken, you will be tax based on your income, so income after tax, you will still end up profitable with your net income. Right?

[cloudfir3e]

I have a friend who works for a living by gambling. he once told me if he could provide for his family with gambling results.
and I ask him. Can you get money from gambling every day? he answered not necessarily every day to get money from gambling.
and I ask again, if not every day can make money from gambling how can you meet the needs of your family? he answered, even though not every day but when I get the results of gambling I get more money and be able to meet the needs of my family in the next few days.
and I concluded that gambling cannot be made a permanent job to meet daily needs

[Betwrong]

~
exactly, Pro poker players are professional gamblers, indeed. Those are people who spend their lives to polish their skills and their style of playing card games.
If you polish your skills in gambling, become known, you can meet them at the same table.

Or, alternatively, you can just be born rich, and play in those massively hyped tournaments with tens of thousands USD buy-ins. You can spot those guys watching High Stakes Poker on YouTube. The funny part is that some people think that they have made their fortune with poker, while, in fact, they mostly lose playing this game. And when they win, they make a big show out of it, saying to everybody that they make their living from playing poker. Why? Because it sounds cool, that's why. Much cooler than the true story of their life anyway.

[stadus]

Living off gambling would be very hard where I live, due to the high amount of taxes.

I think the first thing you have to consider is on how to win, and taxes would not be a problem if you keep winning.
If I'm not mistaken, you will be tax based on your income, so income after tax, you will still end up profitable with your net income. Right?

I agree with you, tax is not a problem if you are consistently winning in gambling, you are like having a profitable business where you are required to pay for your taxes. I don't know exactly what TheNewAnon135246  means about his statement, if he could expound it, it would be better so we can all get his real point.

In every country there are different tax system, and in our country, I can hide my winning and therefore I don't have to remit taxes on it. 

[Ridwan Fauzi]

Living off gambling would be very hard where I live, due to the high amount of taxes.

I think the first thing you have to consider is on how to win, and taxes would not be a problem if you keep winning.
If I'm not mistaken, you will be tax based on your income, so income after tax, you will still end up profitable with your net income. Right?

And yeah he will have two problems at least, risking his money to gamble if he loses and he can't get anything but if he just win then he will divide his income to pay tax and gamble again. No wonder and deserve to make gambling is not a source income for him. Actually I don't know how much money that should be spend by some gambler when their government oblige to pay taxes from gambling results, since I just live in the country who which does not require paying taxes from gambling.

[Vaculin]

Living off gambling would be very hard where I live, due to the high amount of taxes.

I think the first thing you have to consider is on how to win, and taxes would not be a problem if you keep winning.
If I'm not mistaken, you will be tax based on your income, so income after tax, you will still end up profitable with your net income. Right?

And yeah he will have two problems at least, risking his money to gamble if he loses and he can't get anything but if he just win then he will divide his income to pay tax and gamble again. No wonder and deserve to make gambling is not a source income for him. Actually I don't know how much money that should be spend by some gambler when their government oblige to pay taxes from gambling results, since I just live in the country who which does not require paying taxes from gambling.

Its expected that in big countries, their IRS are strict when it comes to taxes as tax is the lifeblood of the government, so they have to maximize their tax collection so they can continue to develop their country and tax evasion is a big crime that could bring the perpetrators to jail, so a citizen of such country will surely ensure they will pay the right taxes, for us who belongs in countries that does not require tax on gambling, we might not feel the pressure of possible tax evasion.

[Colt81]

Just curious here.
I know there are tons of way to live.

but is there such a thing as professional gamblers?

people who make a living onlyout of gambling (online or on rl)?

resources and comments on that are really welcome.

In my own personal opinion, there are no such person who consider himself or herself a professionals gambler because it will be difficult for you to live if you gamble all day. It will not be consider as a living or a profession because it is already an addiction to gambling. Gambling is not one of the good ways for you to earn money because even you experience a win streak you will still end up losing all of it.