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

[The Cryptologist]

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.

Yeah, I sometimes see them on television on cable. But man, these people must have a lot of filthy rich relatives around them to continue gambling because poker is a favorite game of rich gamblers and with just a small mistake, they could lose millions and a lot of their properties. But I guess some of them have already mastered not being emotional and with great discipline so that is why they can continue as a professional gambler.

[Eugenar]

As far as I know you can't classify the gambling as profession. The only way you can earn through this is that if you were the owner or you have huge amount of luck. Apparently, gambling is supposedly for entertainment not for profit due to the fact that you have a low chance of winning. But this is just my opinon, I haven't encounter any professional gambler so this is the only I can say regard this.

[Rikafip]

As far as I know you can't classify the gambling as profession. The only way you can earn through this is that if you were the owner or you have huge amount of luck. Apparently, gambling is supposedly for entertainment not for profit due to the fact that you have a low chance of winning. But this is just my opinon, I haven't encounter any professional gambler so this is the only I can say regard this.

When you are professional gambler, that means it is your profession, and you are doing it full time. You even pay special taxes on it. At least in the United States, it would be interesting to see how it is in some other countries.

The professional gambler reports gambling winnings and losses for federal purposes on Schedule C, Profit or Loss From Business. To compute his or her business income, the professional gambler may net all wagering activity but cannot report an overall wagering loss. In addition, the taxpayer may deduct "ordinary and necessary" business expenses (expenses other than wagers) incurred in connection with the business.

Whether a gambler is an amateur or a professional for tax purposes is based on the "facts and circumstances." In Groetzinger, 480 U.S. 23 (1987), the Supreme Court established the professional gambler standard: "If one's gambling activity is pursued full time, in good faith, and with regularity, to the production of income for a livelihood, and is not a mere hobby, it is a trade or business." The burden is on the gambler to prove this status.

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[Yatsan]

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.

I think of professionals that they were the ones who compete on tournaments with prize pools. Those who are just playing to entertain themselves are just casual players or those who are spending time and expecting to make profit. But these professionals wouldn't be professional without the luck and fortune.

"They make mistakes, like anyone else, and lose a lot, and sometimes they win big because of luck, and that's pretty much it."
 There is nothing special on them, they are just experienced ones but then again they commit mistakes like normal players.

[Ucy]

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.

Or maybe they do not raise fund through ICO because online casinos especially cryptocurrency-based ones are not that expensive to start?
Maybe they are "not having big success" because they are Blockchain-based or are not experienced in running casinos?

[wxa7115]

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.

While it is true that you can buy scripts that will allow you to set up an online casino almost immediately you must remember that casinos need a huge amount of money just to start operations, do you really think that they are going to invest so much money while relying on a script written by someone else? You do not know if such a script has backdoors that could allow the person that wrote that script to steal money from the casino or to somehow predict the outcomes of the games and earn money that way.

If you really want to create a casino you need to do it the hard way and hire software developers that create a unique script that you know is safe for you and your potential customers.

[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.

Yeah, I sometimes see them on television on cable. But man, these people must have a lot of filthy rich relatives around them to continue gambling because poker is a favorite game of rich gamblers and with just a small mistake, they could lose millions and a lot of their properties. But I guess some of them have already mastered not being emotional and with great discipline so that is why they can continue as a professional gambler.

I don't know in reality, but yes poker is one of gambling game that has been favored by the rich people. When they were playing gambling, they will use a lot of money without any feeling as they don't think about losing the money. Perhaps, that is happening in Vegas, Macao, or another big country which allows gambling. The rich person can be the next target from the professional poker player to get their money because they can win from those people.

[peter0425]

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.

I get your point here and yes that’s what really happening because losers are forgotten but winners always popular.in my own experiences I think luck have a big part on this professional claims.i have been lucky in gambling when I was young,most of the games I played is successful until I rested in gambling after college and focus in real life profited.
But maybe if I continue to gamble then it’s either I become professional gambler or a total pain in the ass for my family,lucky that they are always there to remind me about valuing money from work and not just from gambling

[Best Dreams]

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.

While it is true that you can buy scripts that will allow you to set up an online casino almost immediately you must remember that casinos need a huge amount of money just to start operations, do you really think that they are going to invest so much money while relying on a script written by someone else? You do not know if such a script has backdoors that could allow the person that wrote that script to steal money from the casino or to somehow predict the outcomes of the games and earn money that way.

If you really want to create a casino you need to do it the hard way and hire software developers that create a unique script that you know is safe for you and your potential customers.

Blockchain is not an easy site, i know it’s quite hard to downs your money better use good amount that is spare from you. I like gambling as fun based earning instead of one way basic earning. I use it in my extra time it never disturb myself for it and never take any kind of situation as lose gives us lesson and experience.

[AicecreaME]

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.

How much is this "little money" you were talking about I'm lost for words. Creating an online casino is no joke, and if you only have "little money" to create one, enlighten me on how you are going to manage your payrolls, who will be on your team to manage your online casino, a lot of money is need and not just little. Having a "little money" to create a casino will lead to a "little casino" and how will your "little casino" earn if you don't have players on it.

A lot of things should be consider if a certain individual is really serious about creating online casino as a business to make money everyday.

[Betwrong]

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.

I said "there is nothing special about most of the players there." I didn't say "it is all about luck". I play poker a lot myself, and I know that in this game skills play a big part, probably the biggest part than that in all other games, and yet I think that luck is the main factor even in poker. I mean if 10,000 games were played, Daniel Negreanu would definitely win more of them than an average poker player, but he could win low stakes games and lose high stakes ones, and that would totally depend on luck.

I will cite the following quote in confirmation of my words:

Poker pro Daniel Negreanu has cashed for more money in poker tournaments than anyone else in history, but he has now posted two straight years of losses.

Apparently, even Daniel Negreanu, whom I personally admire very much, can have a very long losing streak because of bad luck.

[qwertyup23]

I think there are professional gamblers who live out of gambling but I’m not too sure though if that is the only job they have. I know a few people whom I think are professional gamblers but they do have businesses too aside from just gambling.

Some people are blinded by the fact that being a professional gambler is profitable. Don't get me wrong, but the number of professional gamblers out there COMPARED to the people who actually attempted to become one is significantly lowered.

Sometimes it all boils down on the luck, opportunity, and patience that determines the success of an individual. Even if you faithfully exercise those values, there is really no guarantee that it will lead you to a successful life.

As far as I know you can't classify the gambling as profession. The only way you can earn through this is that if you were the owner or you have huge amount of luck. Apparently, gambling is supposedly for entertainment not for profit due to the fact that you have a low chance of winning. But this is just my opinon, I haven't encounter any professional gambler so this is the only I can say regard this.

Well in fact, there are a number of professional gamblers especially in the poker field. There are even hosted tournaments around the world which is aired on television. Being a professional gambler also revolves around luck, like any gambling field. There is really no guarantee that one will become successful especially in a field where luck governs everything.

[Finestream]

Well in fact, there are a number of professional gamblers especially in the poker field. There are even hosted tournaments around the world which is aired on television. Being a professional gambler also revolves around luck, like any gambling field. There is really no guarantee that one will become successful especially in a field where luck governs everything.

This is what you called a professional gambler and a player itself, if looks like you are betting on yourself, and I think I don't belong here and I don't have future if I will go with poker to make a living, I've seen some who makes money but we really don't know if they are profitable overall as not everything they do is visible to us.

For me, if ever I will make gambling as my profession, I would always choose sports betting as this is simple and you can hide what you are doing since you can do it at home, and with a big number of sports book here in crypto, you can be as high as you want, so if I'm consistent, maybe I can make money here.

[Sadlife]

I think there are professional gamblers who live out of gambling but I’m not too sure though if that is the only job they have. I know a few people whom I think are professional gamblers but they do have businesses too aside from just gambling.

This question of OP is not just for being a “professional Gambler” instead all areas in which people are profiting from gambling like Casino Dealers or employees.casino owner as well and other branches of gambling in which the profit is good enough to make a living and feed the family.
I have a close friend who works in casino as dealer and I must admit that she is now living luxurious from her job as Dealer.because he is bright and good in handling her money,what she did is those gamblers that in losing moment and desperate to win back is offering their jewelry’s and Cars also for lower amount or bargaining just to continue playing so my friend and her partner isn’t taking this items and in just couple of years she already managed to buy another house and car from the profit.

[tvplus006]

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.

How much is this "little money" you were talking about I'm lost for words. Creating an online casino is no joke, and if you only have "little money" to create one, enlighten me on how you are going to manage your payrolls, who will be on your team to manage your online casino, a lot of money is need and not just little. Having a "little money" to create a casino will lead to a "little casino" and how will your "little casino" earn if you don't have players on it.

A lot of things should be consider if a certain individual is really serious about creating online casino as a business to make money everyday.

I wrote that for a little money you can buy a script of a primitive casino. Or maybe you can get it for free. But this does not solve the security problem. And no team we can not hire. In such a casino you can just play it yourself and be glad that you are the owner of your own casino.

[bitzizzix]

The profession as a gambler or can make a living from gambling seems to exist, but it is more suitable for people who play whatever gambling is played and does not only depend on a few gambling.
because I saw it and there was one of my friends who made a living playing gambling and whatever gambling he played and he learned it before playing and always won, even though he lost but would win again and daily activities always play gambling and in my opinion he was a true gambler and can make a living from gambling.

[AicecreaME]

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.

How much is this "little money" you were talking about I'm lost for words. Creating an online casino is no joke, and if you only have "little money" to create one, enlighten me on how you are going to manage your payrolls, who will be on your team to manage your online casino, a lot of money is need and not just little. Having a "little money" to create a casino will lead to a "little casino" and how will your "little casino" earn if you don't have players on it.

A lot of things should be consider if a certain individual is really serious about creating online casino as a business to make money everyday.

I wrote that for a little money you can buy a script of a primitive casino. Or maybe you can get it for free. But this does not solve the security problem. And no team we can not hire. In such a casino you can just play it yourself and be glad that you are the owner of your own casino.

I assume by this that this "casino" that you were talking about is a little dream or a way to satisfy your dream that could never happen unless you are fully prepared on creating a legit one. However, I'm still not convince that someone is going to be happy by creating his own casino that he is the only one who can play on it, what is the point of creating one if you can't earn money on it.

The purpose of creating a real casino is to earn money in a very easy way though it is going to need a big fund, but the returns on you would be in your wallet in no time.

[Lucasgabd]

wow. I'm surprised to see how much attention this thread got.
20 pages!
thank you so much for all the responses folks, will go into detail on it soon.

[Betwrong]

The profession as a gambler or can make a living from gambling seems to exist, but it is more suitable for people who play whatever gambling is played and does not only depend on a few gambling.
because I saw it and there was one of my friends who made a living playing gambling and whatever gambling he played and he learned it before playing and always won, even though he lost but would win again and daily activities always play gambling and in my opinion he was a true gambler and can make a living from gambling.

There are two possible explanations to your story(which looks very unrealistic btw):

1. Your friend loses and wins, like everybody else, but he tells you only about his winnings, or, rather more about his winnings than about his losses.

2. He's lucky to be among those who wins more than loses with gambling by pure chance. From your words, I seriously doubt that he is a professional poker player who's winning thanks to his skills.

"Learning" a game like Slots or Dice is an illusion, but I too know people who think they are "experts" in those games.

[yoseph]

The profession as a gambler or can make a living from gambling seems to exist, but it is more suitable for people who play whatever gambling is played and does not only depend on a few gambling.
because I saw it and there was one of my friends who made a living playing gambling and whatever gambling he played and he learned it before playing and always won, even though he lost but would win again and daily activities always play gambling and in my opinion he was a true gambler and can make a living from gambling.

There are two possible explanations to your story(which looks very unrealistic btw):

1. Your friend loses and wins, like everybody else, but he tells you only about his winnings, or, rather more about his winnings than about his losses.

2. He's lucky to be among those who wins more than loses with gambling by pure chance. From your words, I seriously doubt that he is a professional poker player who's winning thanks to his skills.

"Learning" a game like Slots or Dice is an illusion, but I too know people who think they are "experts" in those games.

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.