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

[rand1919]

I know 1 or 2 people who earn hundreds of thousands of € monthly on betting. It's their living, and they are doing pretty good. But they do bet professionally using math and statistics formulas for their calculations, and other various things. Very smart people i would say.

I bet for hobby (esports), but i earn decent amount of money too. If you bet smartly and know the game you can earn hundreds / thousands of €. Depends on the budget and knowledge.

[maydna]

The only people I know that are making a living through gambling are those professionals in Poker and cockfighting. Through their gambling career they are making huge amount of money and even put up a business and acquire luxurious properties out of their income enough to support their families. But for ordinary gamblers I bet its impossible.

Nothing impossible, but it's very hard to earn money from gambling. If you don't know when luck comes, then that will almost impossible but still possible because perhaps, luck will comes to you on another day. I am sure that professional gamblers in a poker game can earn money from the tournament or playing with another player. But they need to have skills inside the games so they can win many times. We can also have skills like them, but we need to learn hard to master the skills.

[Yamifoud]

I know 1 or 2 people who earn hundreds of thousands of € monthly on betting. It's their living, and they are doing pretty good. But they do bet professionally using math and statistics formulas for their calculations, and other various things. Very smart people i would say.

I bet for hobby (esports), but i earn decent amount of money too. If you bet smartly and know the game you can earn hundreds / thousands of €. Depends on the budget and knowledge.

That is really amazing...Does it gives you an idea to ask how they did it? Cause it sounds like very interesting to see how they did it, in fact, if their strategies will work with them it possible that it work for you or with the others. But, I supposed to think that they keep it hiding and never want to share it...lol

[djsugar]

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.

Although gambling industry is a huge industry and is source of income for the authorities in some places like Las Vegas (U.S.A.) Thailand , Macau, Goa ( India ). Gambling industry is one of the vibrant entertainment industry in the world and leads to increase in travellers and also creates jobs.
Gambling money being unstable in nature, i believe there are very few people who professionally depend on gambling and have that as a source of primary income. Friends around me have their corporate jobs while at night or weekends they do go for professional gambling tournaments, offline of online. I really dont believe there are players who only depend on gambling until you are retired with settled kids and have lot of time and savings in your hand

[deisik]

Maybe the richest person is the one who are making gambling as a profession because they have a lot of funds to bet or gamble. They just gamble their money and they earn while sitting and just playing in some casinos. You can meet those people in the famous casinos that they are the one who are just playing and they earn money. For me gambling as a profession is a hard time or a big risk taking because you can lose a lot of money by this and I see a lot of people down on debt because of gambling.

Most of them don't earn with gambling. Those rich people you are talking about can lose $10k without even noticing. So, they play big games without fear of losing, and if they lose they don't talk about it. But when they win (which happens too, of course, because as much as no one can be constantly winning, no one can be constantly losing either), they talk about it a lot, and then we get the impression that they can make big money with gambling

If I'm not mistaken, this is called selection bias

And it is the same with lottery. We hear a lot about lottery winners ("from shithouse to penthouse") and know almost nothing about losers (who are standing small indeed). So even if we do understand in a semiconscious way that there cannot be only winners or their number cannot be big, we are still subliminally made to believe that it is not really so (this technique is called priming). And I'm not even talking about cases of "natural" selection bias when it occurs spontaneously without someone's ill intent or purpose

[LogitechMouse]

Probably there are some gamblers out there who makes gambling their living already but the capital that they need is huge for sure.

Gambling industry is very huge and there are many gamblers around the world who are gambling but most of them are rich people already and just having fun thru gambling. Getting rich in gambling is not impossible but the chances of it are very low because you don't know when luck will come to you and aside from that, you will not win every day. There will be times that you will win and at the same time lose.

[Botnake]

Probably there are some gamblers out there who makes gambling their living already but the capital that they need is huge for sure.

It won't matter if you start small or big as long you are consistent in your betting strategy.
if you keep winning, making a living in gambling is never a problem, and actually that's every gamblers dream but that dream are not mean for everyone.
Even me, I already accepted that making a living in gambling for me is just too hard, but I have to try but not so aggressive.

[l3pox]

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.

I think you can live from the gambling, but it seems to be more easy to live by doing financial gambling, because the house edge is lower and because there is a little bit less randomness. What is the more similar as gamble in the finance, is the trade of options I think, because it's very similar as betting.

just because options is high volatility trading I wouldn't say it's simmilar to betting, it can also be mastered and I bet (pun intended) that there are some small % amount of traders that can be profitable even with options trading.

[senne]

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.

Living just off gambling money is not a good idea and soon you will fall on your face to realize your mistake. I have story of a friend to support this. Working for a MNC, this friend was introduced to sports betting. Winning fast and easy money made it an addiction for him and soon he left his corporate job. i saw him fulfilling all his desires with gambling money, bought a fancy bike and a rare dog breed. But this dint last long and soon he found himself covered with debt to cover his losses. He is still looking back for a white collar job without any luck 

[Sahyadri]

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.

I believe you really cant sustain life with easy and unstable source of income, gambling as a profession being one of them. I am sure professional gamblers too have stable earning streams or side hustles if not gambling. I know few friends who tried to live off from winnings from gambling , went profession but soon landed in stable jobs when the things became rough !

[Eugenar]

For me, living a life through gambling isn't possible. But it depends upon the platform where gamblers bet. Mostly a trick can be catch by those gamblers that is too observant on the other hand, there are those gambling platforms that have a really fair systems. But for a person to trust his life with a 50/50 chance isn't good. they still need another income if bad fate happens.

[Webetcoins]

I know 1 or 2 people who earn hundreds of thousands of € monthly on betting. It's their living, and they are doing pretty good. But they do bet professionally using math and statistics formulas for their calculations, and other various things. Very smart people i would say.

I bet for hobby (esports), but i earn decent amount of money too. If you bet smartly and know the game you can earn hundreds / thousands of €. Depends on the budget and knowledge.

That is really amazing...Does it gives you an idea to ask how they did it? Cause it sounds like very interesting to see how they did it, in fact, if their strategies will work with them it possible that it work for you or with the others. But, I supposed to think that they keep it hiding and never want to share it...lol

I think it is very hard to make gambling as a profession and a source of money because in gambling people either win very big or sometimes the luck never comes and people constantly lose each and every bet, well in my point of view people should have to set their own business or do some other jobs apart from gambling because the money of gambling is not regular.

[Betwrong]

Maybe the richest person is the one who are making gambling as a profession because they have a lot of funds to bet or gamble. They just gamble their money and they earn while sitting and just playing in some casinos. You can meet those people in the famous casinos that they are the one who are just playing and they earn money. For me gambling as a profession is a hard time or a big risk taking because you can lose a lot of money by this and I see a lot of people down on debt because of gambling.

Most of them don't earn with gambling. Those rich people you are talking about can lose $10k without even noticing. So, they play big games without fear of losing, and if they lose they don't talk about it. But when they win (which happens too, of course, because as much as no one can be constantly winning, no one can be constantly losing either), they talk about it a lot, and then we get the impression that they can make big money with gambling

If I'm not mistaken, this is called selection bias
~

That's right, and because of that bias we have an impression of a group of people, the so called "professional gamblers", as if they "know how to play", and thus mostly win and rarely lose. But if it were so, if they were winning because of their skills, they would be becoming better and better with time, right? But this is not what's happening. In reality a big part of those who were winners 2-3 years ago, have become losers, but we don't want to hear about that part, and now we concentrate our attention on the new winners who took their place. We pay little attention to the fact that the winners are not the same people all the time.

[logicgate]

Maybe the richest person is the one who are making gambling as a profession because they have a lot of funds to bet or gamble. They just gamble their money and they earn while sitting and just playing in some casinos. You can meet those people in the famous casinos that they are the one who are just playing and they earn money. For me gambling as a profession is a hard time or a big risk taking because you can lose a lot of money by this and I see a lot of people down on debt because of gambling.

Most of them don't earn with gambling. Those rich people you are talking about can lose $10k without even noticing. So, they play big games without fear of losing, and if they lose they don't talk about it. But when they win (which happens too, of course, because as much as no one can be constantly winning, no one can be constantly losing either), they talk about it a lot, and then we get the impression that they can make big money with gambling

If I'm not mistaken, this is called selection bias
~

That's right, and because of that bias we have an impression of a group of people, the so called "professional gamblers", as if they "know how to play", and thus mostly win and rarely lose. But if it were so, if they were winning because of their skills, they would be becoming better and better with time, right? But this is not what's happening. In reality a big part of those who were winners 2-3 years ago, have become losers, but we don't want to hear about that part, and now we concentrate our attention on the new winners who took their place. We pay little attention to the fact that the winners are not the same people all the time.

   It use to happen with the people who lose interest in gambling with but those who keep learning and never stop at any cost mostly gets profit. I know as time passes people gets more knowledge and gain skills in gambling to become an expert it’s important to spend time with it as much as possible and if you are satisfied with your earning from gambling then you can choose it as a profession.

[iamsheikhadil]

For me, living a life through gambling isn't possible. But it depends upon the platform where gamblers bet. Mostly a trick can be catch by those gamblers that is too observant on the other hand, there are those gambling platforms that have a really fair systems. But for a person to trust his life with a 50/50 chance isn't good. they still need another income if bad fate happens.

I agree on the last line. Professional gamblers who gamble only on traditional games are bound to lose in the long run. Unless they have huge money to spend in life or they are digging their own grave as the house edge will ensure how a person will only lose in the long run. There's no trick. But in sports betting it's possible since an expert on sports will have an upper hand in sports betting.

[oktana]

I have discussed with several big gamblers several times, it is true that they have almost no other business and consider this a profession.

they have been rich from the start and gambled every day just to warm up by gathering a small profit estimate. they are not as complicated as imagined because they only practice for bigger targets in monthly tournaments, in a month it can be 2-3x special events. Their principle is only one, a strong belief to at least enter the top 5 winners.

[Triffin]

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.

I believe you really cant sustain life with easy and unstable source of income, gambling as a profession being one of them. I am sure professional gamblers too have stable earning streams or side hustles if not gambling. I know few friends who tried to live off from winnings from gambling , went profession but soon landed in stable jobs when the things became rough !

Gambling is not a source of income. If it was the case, then this world would have been full of financially settled gamblers. In reality we have more ruined gamblers than the successful ones. It is not a profession so no one can really meet his daily needs with the help of this. Like you, I am also against considering it as a way of earning money on regular basis. Rare are the cases where gamblers get benefits.

[freedomgo]

I have discussed with several big gamblers several times, it is true that they have almost no other business and consider this a profession.

they have been rich from the start and gambled every day just to warm up by gathering a small profit estimate. they are not as complicated as imagined because they only practice for bigger targets in monthly tournaments, in a month it can be 2-3x special events. Their principle is only one, a strong belief to at least enter the top 5 winners.

This isn't a success story that what most gamblers like to see, they want to see a gambler who start from nothing and end up being something.
Usually rich people are just smart enough that they know how to manage the risk and focus on what they are doing.

If they are making money in gambling, they will ensure that they will maximize their profit as they already have the consistency but at the same time they are also very discipline to always stick with the game plan.

[batang_bitcoin]

I have discussed with several big gamblers several times, it is true that they have almost no other business and consider this a profession.

they have been rich from the start and gambled every day just to warm up by gathering a small profit estimate. they are not as complicated as imagined because they only practice for bigger targets in monthly tournaments, in a month it can be 2-3x special events. Their principle is only one, a strong belief to at least enter the top 5 winners.

So that's what most of them are aiming whenever they will enter huge prize tournaments? that principle isn't so high but it seems stable if they will only aim for that goal. About the small daily profits that they do, I think that from that kind of strategy, they really are very disciplined as a gambler making it as their entire career.

[Kittygalore]

Well maybe there are some people that are lucky when it comes to gambling or maybe because they are too smart to think on how they will survive through gambling, well i dont exactly know one but maybe there and im sure it is limited. But in the first place gambling as a profession? I think it is a big risk to decide, if someone confidently take gambling as a profession knowing that he/she is not that lucky and skill enough to succeed then it's life will be a mess and you cant ensure your future with it. Maybe what im referring that become successful through gambling is that the people who runs a casino or gambling place maybe that's more possible.