The journey of successful business man who were professional gamblers

[coinerer]

Gambling is a place of entertainment that anyone can enter to kill their bad mood or have a bad time. And in this case, big businessmen can definitely take up gambling to keep their mind away from various worries and keep their mind happy this time.  This is a normal thing. Because the source of money for big businessmen is their business.  So from gambling they don't care about winning they go there only for entertainment. Not only businessmen but also many rich people choose gambling as their place of entertainment nowadays.

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[piebeyb]

Gambling is a place of entertainment that anyone can enter to kill their bad mood or have a bad time. And in this case, big businessmen can definitely take up gambling to keep their mind away from various worries and keep their mind happy this time.  This is a normal thing. Because the source of money for big businessmen is their business.  So from gambling they don't care about winning they go there only for entertainment. Not only businessmen but also many rich people choose gambling as their place of entertainment nowadays.

usually rich people will throw a little money in the casino to have fun, I think if I were them I would definitely do the same thing, after all not many successful gamblers become businessmen, most business people go bankrupt because of gambling, we rarely find them too people are successful and rich because of gambling, therefore play wisely don't focus on achieving results but play happily when you win a game you will take it as normal and so will when you lose 

[goaldigger]

Gambling is a place of entertainment that anyone can enter to kill their bad mood or have a bad time. And in this case, big businessmen can definitely take up gambling to keep their mind away from various worries and keep their mind happy this time.  This is a normal thing. Because the source of money for big businessmen is their business.  So from gambling they don't care about winning they go there only for entertainment. Not only businessmen but also many rich people choose gambling as their place of entertainment nowadays.

The real question is that, if they build those empire out of gambling profit, or it is because they know how to play in the market itself and know how to attract investors to support their ideas. Good to finally know the founder of those popular casinos, I think they are also a gambler but yes I agree, they don't care about losing the money or making money, they just gamble to attract investors just like in the movie. Well, its one in a million bet before you even hit a jackpot or more so if you are going to start from zero, don't expect that much.

[Wiwo]

Well many people keep saying the casino always win and you will make a lot money after creating a casino, but it's not that simple because the developer need to pay a programmer to create the site, pay the operational costs e.g. live support, marketing etc, they need to pay license, pay the gambling provider etc. If there's not many gamblers who want to gamble, the casino will not make any profit and they need to keep paying the operational costs.

That is why casinos design the provably fair system to favour the house, the house edge will always put the casino ahead of the player and as a matter of fact, luck doesn't always come by, so we all lose to the house at some point.

-But in some instances, the gamblers winz against the house, the impact of high revenue demand on the casino's operators by various bills that wish to be paid, this have made running costs very high and left the casino operator with no choice but to grab all there could from the players.

[BobK71]

This proves that the money earned through the casino can be used professionally to establish themselves. But the number will not be very high and that success is not very easy to achieve. Keeping money from casino gambling is not possible for everyone. But there is no evidence that those who have succeeded here have only collected money from casinos. But I won't deny that they probably use that money. Maybe they have other more financial sources.

[jrrsparkles]

OP you managed to pull out 6 names all over the world but what about the winning ratio, I assume that it will be atleast 1 in a million so never try to get admire from this and try to make money via gambling then you can be a one successful individual too.

I remember one of the famous story about lottery winner who used to work as in a garage or something and won millions of dollars in lottery but in next 4 or 5 years he again came back to same work after exhausting all the money from lottery winnings.

[Fortify]

There are some people who can dream and some others who dare to it. Many of those who can dream big but some times can't make it through traditional platforms. Today I will mention the names of some people who started their business life with the help of gambling money. Who were initially professional gamblers later became reputed businessman. Many of whom are now active philanthropists, supporting various charities. If responsible gambling can be practiced then luck can be expended. He can make himself known differently in a shortest possible of time.

Sheldon Adelson- The founder of the Las Vegas Sands Corporation, The Venetian and The Palazzo in Las Vegas and Marina Bay Sands in Singapore.

Kirk Kerkorian- He founded MGM Resorts International, the airline company and  Trans International.

Steve Wynn- He founded Wynn Resorts, Wynn Las Vegas and Encore Las Vegas.

Calvin Ayre- Founder of Bodog Entertainment.

Terry Benedict- Founder of BJB Properties.

Tony Bloom- Founder and owner of the Brighton & Hove Albion Football Club and.

Phil Ruffin- Treasure Island Hotel, a casino in Las Vegas and the Wichita Greyhound Park.

If one tries to change the destiny he may succeed or fail but he may get a result. But there are many people in the world who only dream inactively without taking any initiative.

But one should keep in mind that gambling is a risky platform. As there are lot of histories of victory, there will be defeats as well. Use gambling money as much as you can afford to lose.

Let's face it - these guys made these empires on the Las Vegas strip in a much different era and it's almost impossible to break on to the strip now with all these massively established names around. They would also have had a hell of a lot of financial and even political backing because back when they were created it was still very much the era of the "Goodfella's" film with a lot of murky backroom deals taking place. Most likely involving a lot of powerful friends and family because while they make huge money, you certainly need to keep palms of all kinds greased - police, gaming commissions, political campaigns, various unions, etc. Plus the rivalry between them must have been intense.

[madnessteat]

OP you managed to pull out 6 names all over the world but what about the winning ratio, I assume that it will be atleast 1 in a million so never try to get admire from this and try to make money via gambling then you can be a one successful individual too.

I remember one of the famous story about lottery winner who used to work as in a garage or something and won millions of dollars in lottery but in next 4 or 5 years he again came back to same work after exhausting all the money from lottery winnings.

You gave a very good example of a garage worker. As I said above, these people succeeded in their lives because of their personal qualities and hard work and only in part because of gambling winnings.

If the garage attendant does not have qualities that would help him to multiply the money he has, then no matter how much money he wins, he will still go back to working in a garage, because he probably can't do anything else.

[swogerino]

Many of whom are now active philanthropists, supporting various charities.

And scammers! Like Calvin, who out of his feel for charity supports a mentally challenged doctor of theology CSW. He probably made Calvin believe God made him invent bitcoin.

From wikipedia:
In 2012, Ayre was indicted by the US Attorney for Maryland on charges of illegal gambling and money laundering.

It's great that  they made their fortunes in gambling industry, I have nothing against that, but what's the point of the thread? If you think you can make it in this business, think again. These people weren't starting with nothing and aren't really role models to follow in all aspects.

I agree that these people are not the best role models to follow but anyone who sees anything as a business and has great ideas about it including gambling can become a successful businessman,beside that these people are very few compared to the hundred thousands that keep losing money and they have left a fortune in gambling,they have gone from successful persons to failed ones,they lost everything because of gambling,work,status,friends and family.

So in gambling there is little good and a lot of bad if you are not cautious to not venture deep down in becoming an obsessed gambler.We should point out that the people who have become successful with gambling can be counted with the fingers of just one hand while the people ruined from it cannot be "counted" as they are a huge number.

[dunfida]

OP you managed to pull out 6 names all over the world but what about the winning ratio, I assume that it will be atleast 1 in a million so never try to get admire from this and try to make money via gambling then you can be a one successful individual too.

I remember one of the famous story about lottery winner who used to work as in a garage or something and won millions of dollars in lottery but in next 4 or 5 years he again came back to same work after exhausting all the money from lottery winnings.

You gave a very good example of a garage worker. As I said above, these people succeeded in their lives because of their personal qualities and hard work and only in part because of gambling winnings.

If the garage attendant does not have qualities that would help him to multiply the money he has, then no matter how much money he wins, he will still go back to working in a garage, because he probably can't do anything else.

If you are a type of person who are really that too materialistic and hits up some lottery then it wont really be that surprising nor shocking that you would really be committing out these kind of acts towards your winning

amounts which you wouldnt really be bothering yourself on putting it into a good use but rather you would be buying all the things that you do and you do want to do like a mad man, until you would be able to realize

sooner or later on the time that you do see your money is almost close to the floor line.If you are a person who does mind about your future then of course you would be putting
those amounts in good use on which you do really be wise on making investment rather than on spending it all again on playing gambling or buying lots of useless things.

[Sandra_hakeem]

When peeps simply don't wanna go into gambling, it doesn't mean it's not influencing other people's life positively, it is....but that's not just enough reasons why you should jump into it; people wey meant to make it major through different ways....it's not necessary that you go ahead to try something your instincts doesn't tell you anything positive about...it's called "LUCK".
It's really important that anyone sets his parts right; cus that's what defines you most time.....I'm sure those successful ex gamblers haven't mentioned how much they' Spent already init,  just to win big ??..

Sandra 🧑‍🦰

[harizen]

Let's also take note of the fact that these businessmen are already at the stage of being a success in other industries outside of gambling.

They became professional gamblers on the way since they have a decent bankroll to sustain that habit. I'm expecting a story wherein they came from scratch so I think it's not that they can be considered an inspiration to us.

Kidding aside, once we really have a stable source of income thru our respective investments, it's really relaxing to do gambling as we are not pressured to think that we will lose, and will help us to always be in a relaxed state of mind when doing gambling.

[Oceat]

If become a professional gambler will make them rich and easy to make money, they wouldn't jump become a businessman, so the conclusion is a professional gambler isn't a good way to make money, but become a businessman is better.

Or maybe they're get restricted or blacklisted by those casinos because they always make money on the casinos, so they don't have any way to continue to make money except become the house or looking for the other opportunity.

I think this is the only possible answers on why they choose to become a business owner.

If you have a lot of money of course you will choose to make your own business just like how the casino made it. One can only dream but if he doesn't have enough money to gamble or to raise their own business then those are privilege already to these mentioned people.

Being a gambler is not a good choice to take to become like them at the end because first of all they are at their success when they made their business. But if you are a loser in gamble then you don't have a chance to become like them, better think twice what you should do with your hard earned money.

[Gozie51]

We also have to know that there is a link with family history or genealogy with gambling. For example a father who is always gambling is inexplicitly or by implication teaching and introducing the children to his trade and source of income and this means the children will always find themselves around the corridor of such business. So apart from other business investment, someone like that will likely go back to there route. Therefore the link between family business and history should also be x-rayed in these names mentioned and others who have succeeded through gambling. The passion built over childhood is always directional to how successful we are to what we do. They may not have stumbled into gambling but have been built over the years through it and it is not about fate that they went and have succeeded in it but either they had already capital they could toss around with on gambling just like other business endeavour.

[speedy963]

This proves that the money earned through the casino can be used professionally to establish themselves. But the number will not be very high and that success is not very easy to achieve. Keeping money from casino gambling is not possible for everyone. But there is no evidence that those who have succeeded here have only collected money from casinos. But I won't deny that they probably use that money. Maybe they have other more financial sources.

I highly agree with that since relying solely on casino to start your business is not advisable and indeed very risky, but it's not that earning from gambling is unacceptable, it's just that this is not for everyone. I also believe that this isn't the only source of income they have, and since they are entrepreneurs they do know the risks involved and how to manage their finances and investment. In short they got lucky enough to win those amazing prizes and used it as an additional investment to further increase their networth.

[maydna]

This proves that the money earned through the casino can be used professionally to establish themselves. But the number will not be very high and that success is not very easy to achieve. Keeping money from casino gambling is not possible for everyone. But there is no evidence that those who have succeeded here have only collected money from casinos. But I won't deny that they probably use that money. Maybe they have other more financial sources.

I highly agree with that since relying solely on casino to start your business is not advisable and indeed very risky, but it's not that earning from gambling is unacceptable, it's just that this is not for everyone. I also believe that this isn't the only source of income they have, and since they are entrepreneurs they do know the risks involved and how to manage their finances and investment. In short they got lucky enough to win those amazing prizes and used it as an additional investment to further increase their networth.

If they are really lucky and can save their winnings well, can limit their gambling, I think they can build a gambling business like @OP said. It all depends on how hard they try to set up a business, manage it to be big, and can be a source of income for them.

That's why not many people can succeed in doing their business, especially in the gambling business, because many things must really be considered. Everything looks possible with the terms and conditions that apply so they can make it come true. And the luck factor in running a business also helps the business get bigger.

[Accardo]

It's a continuous business, so making money will be unlimited as long as they can preserve the greatness of their venues.
But these guys didn't really start their business by making money at gambling first. Correct me if I am wrong. There are loads of stories about people who won in gambling but ended up in a different industry.
A strong example is the founder of the FedEx company.

In the early days of FedEx, Smith had to go to great lengths to keep the company afloat. In one instance, after a crucial business loan was denied, he took the company's last $5,000 to Las Vegas and won $27,000 gambling on blackjack to cover the company's $24,000 fuel bill. It kept FedEx alive for one more week.[13]

https://en.wikipedia.org/wiki/Frederick_W._Smith#:~:text=In%20the%20early%20days%20of,the%20company's%20%2424%2C000%20fuel%20bill.

Each list of people above has a different business trip even though some of them develop other businesses from gambling results, but I am very interested in the story of the founder of the FedEx company because he fought for his company even though he had to sacrifice all the money he had in bets, the point is that he quit gambling after he obtain targeted profits to continue the company's business. The important point is that there are no other gamblers because of their greedy attitude to target high profits but in the end they spend funds in gambling, so we can conclude that any high profits from gambling must be diverted to other business/job opportunities to get passive income, gambling must be set funding limits.

Indeed, its an amazing story, after reading his story I thought about, why business owners should be skilled in different ways including gambling. But, on the second flip, I saw his story as the reason behind the numerous failure of CEX companies including FTX; most of the CEOs during interogation or interviews, regarding the failure of their company and loss of investor's money, they'll say, in order to generate profits for investors, they used investment money to gamble. They must have seen Smith as a role model, not knowing that what worked for Smith may not work for Sam. Smith was lucky, despite risking it all, but I'm not sure he would advise anybody to follow such route. Like you said, he knew when to stop gambling, which is the main skill all gambler should acquire, else they'll watch their business fold right in their own eyes.

[348Judah]

Well many people keep saying the casino always win and you will make a lot money after creating a casino, but it's not that simple because the developer need to pay a programmer to create the site, pay the operational costs e.g. live support, marketing etc, they need to pay license, pay the gambling provider etc. If there's not many gamblers who want to gamble, the casino will not make any profit and they need to keep paying the operational costs.

That is why casinos design the provably fair system to favour the house, the house edge will always put the casino ahead of the player and as a matter of fact, luck doesn't always come by, so we all lose to the house at some point.

-But in some instances, the gamblers winz against the house, the impact of high revenue demand on the casino's operators by various bills that wish to be paid, this have made running costs very high and left the casino operator with no choice but to grab all there could from the players.

There's no side that is more in favour than the other because we all take the risk to make money at the end with gambling, the casino, the developers and the gamblers all have their own target they set but things doesn't work accurately sometimes as planned or expected by them all, that is why if you gambles you are taking a risk on either winning or loosing except for those gamblers who don't mind or give count to how many times they are loosing.

[molsewid]

Indeed, its an amazing story, after reading his story I thought about, why business owners should be skilled in different ways including gambling. But, on the second flip, I saw his story as the reason behind the numerous failure of CEX companies including FTX; most of the CEOs during interogation or interviews, regarding the failure of their company and loss of investor's money, they'll say, in order to generate profits for investors, they used investment money to gamble. They must have seen Smith as a role model, not knowing that what worked for Smith may not work for Sam. Smith was lucky, despite risking it all, but I'm not sure he would advise anybody to follow such route. Like you said, he knew when to stop gambling, which is the main skill all gambler should acquire, else they'll watch their business fold right in their own eyes.

Yes, it is better for a business owner to really know what he is selling take for an example with Mr Sheldon, I don't know he is a professional gambler and we can really say that Marina Bay is very successful and it is very known all over the world, he is just not doing business to earn but it shows how much he loves to gamble and how it gives him joy and entertained.

[darewaller]

Gambling is a very profitable thing to engage in if done responsibly. Gambling has indeed made many men rich and it is still making even though most people are loosing in it. But I think that those that are making much money or already made much money from gambling are those who are favoured or those who never chased losses. It takes a lot of strategies to be a professional gambler. As a wise gambler, the moment you win big in gambling, the best thing to do at the moment is to use the money you won in gambling and invest. You can still be gambling but let it be that you have another source of income and an investment also.

To gamble responsibly means to gamble in a controlled manner. You won't gamble often or with huge amount so how can you be profitable this way? The only good thing that it can bring to you is you feel more stress free. You will feel entertained and you won't be minding your losses since they are not too much.

I think most gamblers doesn't put their won money in investments because their winnings are not that much. They will only use it again to gamble and entertain their self. It's hard to depend on gambling to make money and use that money outside gambling because there is a tendency that you will feel bad and possibly become an addict because you will always try to make a profit.