Professional Gamblers

[thebigguy]

Hi Guys

How many Professional Gamblers are on these forums?

What is your ballpark income levels?

Is it an attainable goal to be a pro gambler?

Thanks in advance any advice is appreciated.

[5 star bomb]

JJ will have a video for you shortly...

[thebigguy]

How much would JJ make a year?

[2Pac]

I bet there are......Less than 5.

Sure there may be a lot of people who have no job who keep themselves afloat by gambling, but they really don't count.

There is one on covers named MrBator. He's amazing.

[Wheell]

My advice on people who want to become professional gamblers is "Don't."

Not having a regular paycheck can destroy you. I know it is trite, but it is wiser to start with an amount of money that you can lose without it affecting your ability to pay for rent/food/alimony/hookers and see if you can make that amount slowly grow over a period of a few hundred bets. If you can consistently make money, and you know you can scale up in size, that is the time to start thinking about going pro.

[VegasDave]

The problem, Wheell, is that you can't get a true indication of what kind of a pro you'd be this way.

If you wake up in the morning, check stats for 15 mins to a half hour, place bets, then go to work from 10 - 7, you may pick say 52% winners.

But without that job, you could spend hours a day crunching numbers, developing systems, line shopping, etc. that would give you that extra edge and be a completely different experience.

Not saying its smart to just give it all up to go pro, I'm just saying the whole "try it on the side" thing doesn't make sense to me.

[Thremp]

I love the speculation. Pretty funny ish.

[Wheell]

The problem, Wheell, is that you can't get a true indication of what kind of a pro you'd be this way.

If you wake up in the morning, check stats for 15 mins to a half hour, place bets, then go to work from 10 - 7, you may pick say 52% winners.

But without that job, you could spend hours a day crunching numbers, developing systems, line shopping, etc. that would give you that extra edge and be a completely different experience.

Not saying its smart to just give it all up to go pro, I'm just saying the whole "try it on the side" thing doesn't make sense to me.

I respect that opinion, but I've worked multiple jobs before, if you want to do the work, find the time to do the work and see if you can beat 52%. The fact is, there is no way to find out if your any good in the short run. Variance can make a sharp get creamed and a square make a fortune. Of course, over a 300 bet span I'll take the sharp and lay odds. It takes serious testing to see if you really can beat the house and I feel that testing should be done while maintaining a "day job."

[jjgold]

I will make a video on this after lunch

[Dark Horse]

- Be careful who you listen to. Don't confuse the years people spend in this business with expertise.
- By the time you figure it out you'll pretty much be an accountant; someone able to juggle numbers well, but a far cry from the bandito image that many associate with beating the house.
- Can you handle a prolonged losing streak (of, say, a year), financially and emotionally?

Embrace risk. But be sure to spread it. If you do have the mindset of an investor, give it your best shot, without putting all your eggs in one basket. There are other ways to invest, like the stock market. If you don't have the skills of an investor, walk away. There are other ways to make money.

[thebigguy]

JJ looking forward to your video.

[Cyclone]

I am finding that it is easier to beat the stock market than becoming a professional gambler. Maybe a few people can do it, but probably only a very few.

[Thremp]

I am finding that it is easier to beat the stock market than becoming a professional gambler.

Duh. One is zero sum and the other isn't.

[thebigguy]

If you buy a stock and it falls then that is like betting on a horse who missed the start. However the good thing about the stock market there is no finish line so if you have done your homework your stock at some stage should be higher than what you bought it for and then you have the opportunity to sell only if the fundamentals have changed. Time is on your side in the stock market but not in gambling market. But Gambling on Sports is much more fun!

Hope this all makes sense...........

[thebigguy]

JJGold any chance of a video?