How professional gamblers make their money
Can you make a living from gambling?
A professional gambler makes a living from gambling and spends most of their time in casinos. These can be either online or land-based casinos. Professional gamblers earn their salary by placing the right bets at the right time.
The lifestyle of gamblers has been portrayed as very glamorous by film clips about Las Vegas, among other things. Men are always neatly dressed, and women always look sexy and provocative. Everyone seems to be having a good time. They win money, eat at 5-star restaurants and drink the best champagne. You might just get the thought that you want to be a part of that. However, the reality of the casino world is very different.
What makes a professional gambler?
The term “professional gambler” can be used for people who make their money gambling either full- or part-time. In this article, we distinguish between professionals and semi-professionals.
Professional gamblers earn enough to pay all their expenses and make a living. This includes housing, energy costs, loans, insurance, food, clothing, and other essentials.
A semi-professional is someone who earns enough to supplement his income. However, they do not reach a total income from gambling. When professional players do not get good results, they will soon doubt their skills. The reality is that professional gambling is a dismal business when such a thing happens.
On the other hand, it can be a very lucrative way to earn money. However, the hard truth is that the mindset of a professional casino player is similar to that of a manic depressive.
The gambling world does not offer an abundance of opportunities to earn a living. However, there are a small number of games where excellent profits can be made. At least, if you play smart and follow a specific plan.
Profitable casino games
In the casino, you can find a wide range of different games. Only a few offer the potential for long-term profit. The games where this is possible are:
- Blackjack
- Roulette
- Baccarat
- CrapsIn blackjack, you try to win money from the casino. You play against the casino, and they will do everything they can to prevent you from counting cards. For example, they use machines that shuffle cards continuously or multiple decks of cards.
Players caught counting cards are often banned from the casino. This is why it is so crucial that card counters blend in with regular players.
The platform you play earns only a small percentage of the tournament fees or pots. Betting companies create systems where they earn from players’ losses. Each form of betting has its advantages and disadvantages. With each skill, it is possible to build a stable income.
Counting cards
Since the early 1960s, people have been making money from counting cards. Even though casinos have taken all sorts of measures in this regard, it’s still possible. However, you’ll need a sizable bankroll to spread your bets and survive the game’s variance. Think of a bankroll of between $20,000 and $40,000.
Your earnings will depend on the following factors, among others:
- Skill level – Successful card counters have a 0.5% and 1.5% advantage over casinos.
- Hands per hour – 50 to 200, depending on the speed of the dealer and the table size.
- Bet spread – The difference between your lowest and highest bets.
- Deck penetration – The further you get into the deck, the higher the bets.
- Counting system – Some systems are more accurate than others.
- Game rules – You want to use inexpensive game rules with the lowest possible house edge.
- Tips – $5 per hour for the dealer is standard.
The final step is to figure out how many hours you will play and convert this into an annual salary. Again, the key is to keep records of your performance and income.