Possible To Make A Living Gambling??

[warriorfan707]

keep in mind that saying that something is "possible" isn't saying a whole lot

[Vaughany]

ha Anybody who thinks they are gonna make a decent living off gambling on NBA, American football or whatever is deluded unless they are reforming the computer group!

[Marauders]

When you are are on a roll, everything seems possible and you feel on top of the world. Try losing a few games and have a bad streak and see how you handle it. If you can stay even keel and not go on crazy tilt chasing, then you have a better chance. Like most poster said, sample size is way too small, test yourself over a long period to give yourself a better idea whether you can do it or not.

[senseionline]

dream and reality is totally different

[Tomahawk]

there's gotta be people who are rich doing this



why can't I be one of those people??

Because you have to be rich at the 1st place to make a living in gambling.

You wanna make 100-150 grand a year, ok, you'll need a 1 million dollar investment in matchbook and pinnacle sports if americans can't register you need to leave the country to register.

You can hit 70% after 100-200 EVEN bets.

But you won't hit 70% after 10000 EVEN bets, I personally guarantee that.

If you still think that you can hit 70% and make 150 grands a year with investing less money then 1 million dollar then you're an addict or you came from the future.

[katstale]

Just play recreationally. Get your money out there on a side so I can get on the other side. I am constantly recruiting people to take up this avocation.

[Tomahawk]

go in with about 5-10,000 dollar bankroll and fukking dominate every night

This is a suicide plan you will not dominate every night it looks like you started gambling a week ago with a lucky streak. It is not true that a guy who loses money after 50 bets is a bad gambler.

I have lost money after 200 bets as well but I made profit in the long run after thousand of bets. You have no clue how much risk is in this business, you are a lucky newbie who thinks can make it big.

I'm profiting from gambling for 2 years now and I'm only in the 4 digits but I can't make my living out of it.

I could make a living if I would invest 1 million bucks but I don't have that much.

My suggest to you:
Never be more then 1% of your bankroll!!! If you make profit this way you won't make a living with your 10 grand investment but at least you will have hope to profit in long term.

[Powerball]

It's almost impossible to make a living sports gambling. Poker on the other hand is completely doable. I did it for 4 years before going back to my desk job.

[Romanov]

All right pal, have a seat:

70% over 20 plays you say? So you hit 14/20 correct?

The odds that you a 51% (losing) gambler hits 70% over 20 plays is this:

n(pi) = 20(.51) =10.2
n(1-pi) = 20(.49) = 9.8
e(x) = .51(20) = 10.2
var(x) = 20(.51)(.49) = 4.998
standard deviation = sqrt of var(x) = 2.2356

so lets z score this binomial!

z = (14-10.2)/2.2356 = 1.69977 (standard deviations from the mean)

1.69 standard deviations from the mean = .4545

So..

.5-.4545 = .0455

What .0455 means is that out of lets say 2000 plays (100 sets of 20 (your sample)) you would have 4 or 5 sets of 20 plays in which you would go 14/20. What THAT means is that this is such a small sample size (and you only deviated from the mean by 3.8) that your assumption that you are a good gambler is totally incorrect. A person flipping coins would hit 14/20 about 4 times out of 100 sets of 20. Please don't become a professional if you have only ever made 20 bets

[Vaughany]

It's almost impossible to make a living sports gambling. Poker on the other hand is completely doable. I did it for 4 years before going back to my desk job.

Why would u go back to a desk job then brah?!

[the_mathman]

The only reasonable hit rate that you can have (on long run) is 55%-57%...
...if you are a great handicapper!

else with a good money management system you can have a profit with a 53% of hits.

[MarlinsFan2212]

Of course you can, but you need to be an excellent capper and have a huge bankroll to follow it. At one point in late February, early March, I won 14 consecutive bets. But eventually you come back down to earth. If you can sustain 55% you can make some quality money. If you can sustain 60-65%, consider yourself blessed.

Look at Mayweather. Im sure he only posts winning tickets on twitter, but in about 1 months time the guy has made 1 million + betting sports.

If you win 100 per day = 36,500 per year.
If you win 400 per day = 146,000 per year.

For every person that makes a living sports-betting, there is about 10,000 who don't. If it was easy, everyone would be winning.

[mminkovski]

nice math from Romanov.

[BeatingBaseball]

Ironically - the only thing that makes professional sports gambling possible for a few is the very presence of so many individuals in the wagering pool who have this insufficient level of respect for and understanding of its difficulty.

[noober]

nice post by romanov

[Wrecktangle]

OP: probably not in this country with its main sports any more.

[str]

I have known several pro gamblers from the race track days.While these guys did make a living it varied from year to year.
One in particular was single and did fine but once he got married and had a kid things got more difficult for him.Think it was simply the stress of having to make payments timely,the time your child takes out of your day thus breaking his daily routine of study time, and overall pressures that come with raising a family that did him in.It is not that he lost money.He just lost that edge and level of confidence that you need in that business.Eventually got a real job.
Very tough business and not the life that it seems to be.Many,many hours of work.
Most people are just not cut out for it over time.

[Marv001]

Anyone that uses the term "brah" cannot make a living gambling.

Ahha, hilarious. I don't think it is possible to do it for a living.

[crjohnson32]

why pose the question if you're only going to accept one answer???

Yes, it is possible and quite simple in fact. After going on a streak of 5-1 you can do this easily.

[Regul8er]

You can try. The odds are against you at about 99.99 to 1. I wish I was lying, but Im not.

[kidk]

I think you can if u take it as a job espicially poker....instead of trying to win it all at once try win a certain amount everyday and keep a track ...most people try to win it all big at one 1x if u win 1000k a day thats awesome but if u win 100 a day for a month thats even better .....

[Monitor-Tan]

It's possible, law of large numbers apply if u can win higher then 53% (rounded), you will need a significant bank roll. Just like any business, there's no such thing as a "steady flow income" some months u will be up, some down but on average you will be able to do but do it, in th efirst 1-4 years is fairly difficult to near almost impossible

[GarbageMan]

To make 100-150K per year you need

1) Have a starting bankroll of at least 25K which you can afford to lose

Not even close, to win 100k @ say 10% ROI, you'd need to wager a million $ a year, or 2740$ a day. 25k would go up in smoke with a single case of variance, looking at more like a 750k+ roll to earn this sort o moolah, and a whole lotta knowledge and hard work.
Think this thread is a level anyways

[leafs_ducks]

Where do I sign up

[Stallion]

NO!!!

[Regul8er]

Guys, let's be honest if your on sbr, it's not possible!!

[teecee]

of course it's possible. everyone on these boards is making a killing.

[dr_wolf]

no it can be possible you need to have a lot of money to bet for winning your salary.

[mr.inpak]

only can be done scalping and middling need alot of outs a big bankroll reduced juice and self disipline

[aceking]

sure , if you have a time machine .

there are so many fixed matches that you can't win.

[paintball1084]

not going to happen. you need a lot of initial money to start betting.

[DevilCheese]

nope but sounds like you got the confidence it takes to make a living as a tout

[warriorfan707]

All right pal, have a seat:

70% over 20 plays you say? So you hit 14/20 correct?

The odds that you a 51% (losing) gambler hits 70% over 20 plays is this:

n(pi) = 20(.51) =10.2
n(1-pi) = 20(.49) = 9.8
e(x) = .51(20) = 10.2
var(x) = 20(.51)(.49) = 4.998
standard deviation = sqrt of var(x) = 2.2356

so lets z score this binomial!

z = (14-10.2)/2.2356 = 1.69977 (standard deviations from the mean)

1.69 standard deviations from the mean = .4545

So..

.5-.4545 = .0455

What .0455 means is that out of lets say 2000 plays (100 sets of 20 (your sample)) you would have 4 or 5 sets of 20 plays in which you would go 14/20. What THAT means is that this is such a small sample size (and you only deviated from the mean by 3.8) that your assumption that you are a good gambler is totally incorrect. A person flipping coins would hit 14/20 about 4 times out of 100 sets of 20. Please don't become a professional if you have only ever made 20 bets

I don't see any human element in the equation, in all fairness

[HeeeHAWWWW]

Perfectly possible with research and discipline ..... plus good money management and a decent sized bankroll to start with.

Most people just try "picking winners" for a while, have up and downstreaks, and quit.

[hockeyman30304]

not on online poker sites