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

[panganib999]

professionals does not do that, they gamble regularly and they will only stop when they needed to, either they will win or lose.

Yes, they gamble regularly but a professional gambler knows how to stop and it happens mostly if they keep on losing.

I disagree with this. I think the professional gamblers are those who are in the tournament. And aside from it, every player that is not playing in a match is not professional at all. Because there's a gambler that is always winning and living the life through gambling, but he is professional because he is just a simple player, those people that are joining the tournament is the one that is professional because they compete for the title. Professionalism is not something to be claimed when you are good at something, but it is when you are fighting for something.
There's several gambling tournaments just like poker that's need a Professionalism to win.

[vintages]

It’s very difficult to make a casino yourself. There is an opportunity to invest in an already functioning gaming site. And there are actually a lot of such sites that want to attract investors for their business. One such site is Mintdice https://mintdice.com/guide/investing But I am not familiar with the details of investing.

Online casino are not difficult to make, a simple Google online will reveal people who are selling its scripts depending on the casinos site you want the script like. There are now even software for simple setup and installation but one thing players will miss is the uniqueness in such site.

[btcmegastar]

It’s very difficult to make a casino yourself. There is an opportunity to invest in an already functioning gaming site. And there are actually a lot of such sites that want to attract investors for their business. One such site is Mintdice https://mintdice.com/guide/investing But I am not familiar with the details of investing.

Online casino are not difficult to make, a simple Google online will reveal people who are selling its scripts depending on the casinos site you want the script like. There are now even software for simple setup and installation but one thing players will miss is the uniqueness in such site.

Everyone will get the script based code according to their budget, but they need to secure the Casino website from the hackers because buying a script and installation is very easy but to gain trust in the Gambling market is a really tough job. You need to prove yourself you are the best casino website with all sorts of person's funds.

[Ucy]

The remaining 1% are those who are making a living from gambling.

That's means gambling industry are so rich because they take the 99% chance of making money compared to only 1% of their gamblers who make a living in gambling. I don't know what percentage exactly but I do believe it's possible to make a living in gambling and 1% is just too small, maybe like 5%, but like I said, I really don't know because I myself is not making a living in gambling although in the past I tried to find ways to make it possible, but failed.

Its hard to determine the rate, but it's easy to determine who really are making profit in gambling, and it's non other than the gambling operators.
Aiming to make gambling as a living is a hard job, maybe the hardest kind of job in this world as we know that majority of the gamblers loses over time.

If we have enough capital, maybe the easiest way to make a living in gambling is just to start our own casino or gambling sites.

Contrary to the popular belief , casinos don't have huge profit margin. From my experience , they have less than 10%, after they pay all the taxes and licenses, and taxes for these kind of business are quite high. Truth to be told,i worked in Europe where taxes on these things are quite high, some specific places like Vegas or Macau might have lower taxes.

So it is not so easy, to just open casino and make easy money.

Interesting. People don't take those aspects into consideration when they imagine what owners of businesses are making.
If making money by owning a gambling company is that easy many failed gambling companies would still be in existence.

[deisik]

It’s very difficult to make a casino yourself. There is an opportunity to invest in an already functioning gaming site. And there are actually a lot of such sites that want to attract investors for their business. One such site is Mintdice https://mintdice.com/guide/investing But I am not familiar with the details of investing.

Online casino are not difficult to make, a simple Google online will reveal people who are selling its scripts depending on the casinos site you want the script like. There are now even software for simple setup and installation but one thing players will miss is the uniqueness in such site

Well, that depends on the specific definition of "making a casino yourself"

If you ask me (for example), running a casino script in the Internet is not exactly the same as making a casino yourself (as in self-made man). It doesn't take a lot to start the script and make it public. That's a piece of cake really. It is attracting experienced, hard-nosed and pragmatic gamblers (then getting them to stay) what makes the game

Look at the lengths that the new kids in this kindergarten go to in order to get there. PrimeDice had to run a signature campaign on the forum for long months to make itself a recognized name, but they were essentially first comers and had that unbeatable first mover advantage. Now it takes a lot more than just running a signature campaign here

[Betwrong]

You can call yourself as a professional gambler or whatever who make a living out of it successfully for years ... until the time where you lost everything because of gambling come.

I don't think people who go home with nothing but stories of the casino after losing everything can be called professionals!

Well you have a point because professionals has the ability to be almost perfect on their field before they can claim professionalism but before that they cannot be considered as one.
~

In my opinion, most of the so called "professionals" are just people who were lucky enough to be in profit from their gambling activity for several years in row. When some of them lose big time we just forget about them, and don't call them "professionals" any more, but we always have others taking their place. I watched a lot of high stakes poker games on YouTube, and I can say there is nothing special about most of the players there. They make mistakes, like anyone else, and lose a lot, and sometimes they win big because of luck, and that's pretty much it.

[nydiacaskey01]

Would you consider someone working in a POGO (Philippine offshore gaming operator) type of business as living out from Gambling? They are the ones who take bets online and recently there's a lot of Chinese citizen going to the Philippines to work in a BPO type set up.

How about those who collects bets for the illegal numbers game? In the morning I see this guy in a bicycle roaming around the city and will collect bets for the illegal numbers game and in the afternoon he will return with the winnings if someone wins.

[Rikafip]

You can call yourself as a professional gambler or whatever who make a living out of it successfully for years ... until the time where you lost everything because of gambling come.

I don't think people who go home with nothing but stories of the casino after losing everything can be called professionals!

Well you have a point because professionals has the ability to be almost perfect on their field before they can claim professionalism but before that they cannot be considered as one.
~

In my opinion, most of the so called "professionals" are just people who were lucky enough to be in profit from their gambling activity for several years in row. When some of them lose big time we just forget about them, and don't call them "professionals" any more, but we always have others taking their place. I watched a lot of high stakes poker games on YouTube, and I can say there is nothing special about most of the players there. They make mistakes, like anyone else, and lose a lot, and sometimes they win big because of luck, and that's pretty much it.

Maybe you watched those poker games on YouTube, but seems like you didn't pay much attention if you think it is all about luck. Poker is complex game, where risk management is incredibly important, and relying on luck won't get you far. Maybe once or twice you can luck your way out to final table at some big poker tournament, but certainly it wont happen often, like it is case with top poker players.

Just check  players like Daniel Negreanu and Scotty Nguyen, they are professionals for decades, and you don't stay at that level by sheer luck, for that you need skill. Sure they made mistakes, like every professional in every sport imaginable, sometimes even a lot of them, but in the end, they make nice living out of it.

[tvplus006]

Contrary to the popular belief , casinos don't have huge profit margin. From my experience , they have less than 10%, after they pay all the taxes and licenses, and taxes for these kind of business are quite high. Truth to be told,i worked in Europe where taxes on these things are quite high, some specific places like Vegas or Macau might have lower taxes.
So it is not so easy, to just open casino and make easy money.

If you look at a real casino, then the payout percentage is up to 98%. And the casino lives on these 2% very well) The main thing here is to have a big turnaround. In an online casino, it is not known what percentage is paid. And this is the main problem.

[Rikafip]

Contrary to the popular belief , casinos don't have huge profit margin. From my experience , they have less than 10%, after they pay all the taxes and licenses, and taxes for these kind of business are quite high. Truth to be told,i worked in Europe where taxes on these things are quite high, some specific places like Vegas or Macau might have lower taxes.
So it is not so easy, to just open casino and make easy money.

If you look at a real casino, then the payout percentage is up to 98%. And the casino lives on these 2% very well) The main thing here is to have a big turnaround. In an online casino, it is not known what percentage is paid. And this is the main problem.

98% payout might happen only in short period of time like few weeks, but in the long run casino wouldn't be able to function with that kind of payout percentage. It would be hard for casino to pay taxes, licenses, salaries etc with 2% and keep on running for a longer period.
From my work experience  in casinos, payout percentage is approximately 90% (talking about 1 year period).

[tvplus006]

Contrary to the popular belief , casinos don't have huge profit margin. From my experience , they have less than 10%, after they pay all the taxes and licenses, and taxes for these kind of business are quite high. Truth to be told,i worked in Europe where taxes on these things are quite high, some specific places like Vegas or Macau might have lower taxes.
So it is not so easy, to just open casino and make easy money.

If you look at a real casino, then the payout percentage is up to 98%. And the casino lives on these 2% very well) The main thing here is to have a big turnaround. In an online casino, it is not known what percentage is paid. And this is the main problem.

98% payout might happen only in short period of time like few weeks, but in the long run casino wouldn't be able to function with that kind of payout percentage. It would be hard for casino to pay taxes, licenses, salaries etc with 2% and keep on running for a longer period.
From my work experience  in casinos, payout percentage is approximately 90% (talking about 1 year period).

I don’t know what position you occupied in the casino, but I’m sure that not all employees have access to financial documents. I did not work in a casino, but I gave these figures based on reports from Las Vegas casinos. I understand that in other casinos this percentage is lower.

[Rikafip]

Contrary to the popular belief , casinos don't have huge profit margin. From my experience , they have less than 10%, after they pay all the taxes and licenses, and taxes for these kind of business are quite high. Truth to be told,i worked in Europe where taxes on these things are quite high, some specific places like Vegas or Macau might have lower taxes.
So it is not so easy, to just open casino and make easy money.

If you look at a real casino, then the payout percentage is up to 98%. And the casino lives on these 2% very well) The main thing here is to have a big turnaround. In an online casino, it is not known what percentage is paid. And this is the main problem.

98% payout might happen only in short period of time like few weeks, but in the long run casino wouldn't be able to function with that kind of payout percentage. It would be hard for casino to pay taxes, licenses, salaries etc with 2% and keep on running for a longer period.
From my work experience  in casinos, payout percentage is approximately 90% (talking about 1 year period).

I don’t know what position you occupied in the casino, but I’m sure that not all employees have access to financial documents. I did not work in a casino, but I gave these figures based on reports from Las Vegas casinos. I understand that in other casinos this percentage is lower.

You have to differentiate payout percentage on 1 specific slot machine in some specific amount of time, that can go up to 98%, to average payout percentage across let's say 100 slot machines that some casino has. So slot machine 1 can have 75%, slot machine 2 85%, slot machine 3 90%. and slot machine 4 98% and so on..

Just to add, payout percentage is regulated, so in some states minimum is set at 75%, while some have 80+%.

[tvplus006]

Its hard to determine the rate, but it's easy to determine who really are making profit in gambling, and it's non other than the gambling operators.
Aiming to make gambling as a living is a hard job, maybe the hardest kind of job in this world as we know that majority of the gamblers loses over time.

If we have enough capital, maybe the easiest way to make a living in gambling is just to start our own casino or gambling sites.

It’s very difficult to make a casino yourself. There is an opportunity to invest in an already functioning gaming site. And there are actually a lot of such sites that want to attract investors for their business. One such site is Mintdice https://mintdice.com/guide/investing But I am not familiar with the details of investing.

You make a good point and I also support the act of investing in gambling bankroll cause is another way of making passive income. However, the creation of a gambling site is a long process but ones don't need to have huge capital before he can create a because he can just make use of IEO scheme if have what it take.

Yes, you can create an online casino for little money. Such casinos usually operate outside the legal field. I do not think that their owners will spend their money on a license.
Recently, I don’t remember such an IEO that managed to raise money to create a gambling site. And the competition in this business is very high.

[stadus]

Yes, you can create an online casino for little money. Such casinos usually operate outside the legal field. I do not think that their owners will spend their money on a license.

There are some who get license for their casinos, and we can see a lot of casinos that has an ANN thread in the forum that is registered and AFAIR most of them are registered in Curacao Gaming Licence, but actually gamblers does not ask or bother to know where they are registered, they gamble because the site has a good reputation.

So with less  money, you can still create a casino even without license but building your reputation will take time especially that the competition in the gambling world is high.

Recently, I don’t remember such an IEO that managed to raise money to create a gambling site.

Maybe because serious gambling operators will start their own money in venturing this kind of business, when they run their own money, they can maximize their profit as long as the casino will become a success. As an investor, I would also not choose to invest in a certain gambling casino IEO as in the past, I can't remember any gambling sites that has an ICO that were having big success even if they raise a decent amount of money.

[deisik]

After working there, i must say i respect anyone going into that business, it ain't as easy as some would like to think

I basically agree with this point

But we should not forget either about scams which just pretend to be "provably fair" casinos. As far as I remember, there were a few such cases discussed here in the past. Some were not outright scams but their bets were proven to be far from fair. Once it had become known with irresistible evidence provided, they had to close the shop. Some casinos were legit but their bankroll management sucked massively so it didn't take long for some whale to come and ruin them by betting big time and taking away all their money

[hahay]

The remaining 1% are those who are making a living from gambling.

That's means gambling industry are so rich because they take the 99% chance of making money compared to only 1% of their gamblers who make a living in gambling. I don't know what percentage exactly but I do believe it's possible to make a living in gambling and 1% is just too small, maybe like 5%, but like I said, I really don't know because I myself is not making a living in gambling although in the past I tried to find ways to make it possible, but failed.

Its hard to determine the rate, but it's easy to determine who really are making profit in gambling, and it's non other than the gambling operators.
Aiming to make gambling as a living is a hard job, maybe the hardest kind of job in this world as we know that majority of the gamblers loses over time.

If we have enough capital, maybe the easiest way to make a living in gambling is just to start our own casino or gambling sites.

It’s very difficult to make a casino yourself. There is an opportunity to invest in an already functioning gaming site. And there are actually a lot of such sites that want to attract investors for their business. One such site is Mintdice https://mintdice.com/guide/investing But I am not familiar with the details of investing.

a lot of capital must be spent to create your own casino site, and of course that is not easy to do. indeed the profit generated by the owner of the comparison site is far greater than the gamblers who can benefit every day from gambling they do. however, only a few people can depend every day to get money from gambling itself and of course it can only be done by professional gamblers

So, what is impossible is to make gambling a profession. Indeed, there will be very large income differences between developers and users, and of course users or players will only get a small profit because players will receive more losses at any time from gambling. In this case it can be said that a gambler does not need to make gambling as the main profession because it will only spend your money from time to time.

[Malsetid]

The remaining 1% are those who are making a living from gambling.

That's means gambling industry are so rich because they take the 99% chance of making money compared to only 1% of their gamblers who make a living in gambling. I don't know what percentage exactly but I do believe it's possible to make a living in gambling and 1% is just too small, maybe like 5%, but like I said, I really don't know because I myself is not making a living in gambling although in the past I tried to find ways to make it possible, but failed.

Its hard to determine the rate, but it's easy to determine who really are making profit in gambling, and it's non other than the gambling operators.
Aiming to make gambling as a living is a hard job, maybe the hardest kind of job in this world as we know that majority of the gamblers loses over time.

If we have enough capital, maybe the easiest way to make a living in gambling is just to start our own casino or gambling sites.

It’s very difficult to make a casino yourself. There is an opportunity to invest in an already functioning gaming site. And there are actually a lot of such sites that want to attract investors for their business. One such site is Mintdice https://mintdice.com/guide/investing But I am not familiar with the details of investing.

a lot of capital must be spent to create your own casino site, and of course that is not easy to do. indeed the profit generated by the owner of the comparison site is far greater than the gamblers who can benefit every day from gambling they do. however, only a few people can depend every day to get money from gambling itself and of course it can only be done by professional gamblers

So, what is impossible is to make gambling a profession. Indeed, there will be very large income differences between developers and users, and of course users or players will only get a small profit because players will receive more losses at any time from gambling. In this case it can be said that a gambler does not need to make gambling as the main profession because it will only spend your money from time to time.

But there are people who have gambling as their main profession, that's the thing.  It's possible for that to work, though it xan't be applied to everyone. It's like working in the entertainment industry. These gamblers get paid because they're good at what they do. They don't live off of their winnings. People pay them to gamble, probably to promote a brand or something.

[Shinpako09]

Yep, there is professional gamblers. One of them are those professional poker players. They are making a living out of gambling. You can also search in youtube some successful winnings of individuals in different kind of gambling. We all know luck is not always on our side so it's very risky, because in just blink of an eye your wealthy status could be gone or worst you'll be in deep debt.

[Ailmand]

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.

Well, there are. There are poker players who are famous in gambling industry and they are earning a lot of money from gambling by joining tournaments and other poker events. I think there are other people who are making a living thru gambling. Anyway, it's great to earn why you are doing what you love, but take note that being to addicted in gambling is not a good trait to have and this big time gamblers already a huge pocket on them that's why  they have the luxury to gamble with a huge amount of money.

[maydna]

Yep, there is professional gamblers. One of them are those professional poker players. They are making a living out of gambling. You can also search in youtube some successful winnings of individuals in different kind of gambling. We all know luck is not always on our side so it's very risky, because in just blink of an eye your wealthy status could be gone or worst you'll be in deep debt.

Yes, I believe many professional poker players can make a living from the poker games. Although not many of them, they are surely making money for their life. But I thought that some professional sports betting is already to make money too as the poker players so they can use gambling as a profession.

Those professional pokers will have a unique technique to win the games, including how to bluff the opponent so their chance to win will bigger. Their skills cannot be learned in a short time because we need to have the experience too. The more skills we have, the more chance we can win the poker game.