Many people believe that it is really difficult to make a living from gambling and to thrive from this activity. However, there are also many who refute these views and believe that anything can happen if the player is lucky and has the right way to play. So what is the truth? What is the story? Let’s follow the article below to find out in detail.
Understanding the Reality of Making a Living from Gambling
Gambling, also known as playing cards, betting, or playing games of chance, is when players accept to put money or valuable items to bet on a game in order to earn more money or other valuable items.
In gambling, the element of luck accounts for 50%, while the remaining part is calculation and your calmness when participating will lead to victory. Usually, a gambling game takes place in a short time, and players quickly get results, such as playing dice, Baccarat, Dragon Tiger, Roulette, etc.
However, there are also gambling games where players have to wait for results over a long period, such as betting on football. Currently, gambling is a large-scale commercial activity, and many countries have even legalized this form. Nowadays, gambling does not necessarily require cash or valuable items; instead, players can exchange chips or corresponding currencies to participate.
You can play online gambling anytime and anywhere you want. Please refer to the shared article Guide to Playing Online Gambling to diversify your playing methods.
You Can Also Make a Living from Gambling
If you really want to live well from this job, then refer to the advice below. It is not just about entering the casino and relying on luck to become wealthy.
1. If You Are a Player
As a player, it takes a long time to get rich from gambling, but that does not mean it is impossible. Many players can earn a lot of money from the house and luck continuously comes to them.
However, it requires a long process, as mastering greed when gambling is not something everyone can do. To play well and win a lot in gambling, you need to:
- Understand the rules of the game very well.
- Only participate in games you are confident and skilled at.
- Accumulate experience, learn skills from seasoned players and experts.
- Know how to divide your capital and manage it wisely.
- Most importantly, adjust your mindset and greed. Do not be arrogant when winning, and do not be discouraged when losing; know when to stop.
- Play at a reputable and secure house to avoid being scammed.
There is a truth that the number of people living well and making a living from gambling is extremely rare. It may be less than 1%, so when you clearly determine that you want to become such a person, you need to train and learn a lot.
Many people occasionally have a winning streak, bringing home a mountain of prize money. However, later on, they may still lose everything, and this is probably too familiar to the houses.
2. If You Are a Casino Owner or House
Basically, a casino owner or house never loses. Any player who participates in a house or casino must deduct a portion of the profit, commission for the house, whether they win or tie.
A bookmaker or casino with many participants will inevitably have some winners and some losers. It is impossible for 100% of players to win, and it is also impossible for 100% to lose. The bookmaker knows how to allocate this and coordinate the money from the losers to pay the winners. Bookmakers and casinos will always have many games to attract more participants.
At that time, besides commissions, the bookmaker also receives a considerable amount of money lost from unlucky players. That is why if you are the owner of a casino or a bookmaker, you can completely make a living from gambling. However, here you are organizing and managing betting activities, not participating, so the risks are much lower than those of the players. Not only the bookmaker but also the agents receive a portion of the commission from gambling activities.
However, becoming a bookmaker or casino owner is quite challenging. You need to have strong financial resources to immediately pay the winnings to the players. You even need to have a large team of staff and experienced management experts to handle any situations that arise.
3. Intermediary agents
If you do not have the means to become a casino owner or bookmaker, becoming an intermediary agent connecting players with bookmakers is also a way for you to earn money from this profession.
In reality, many bookmakers recruit agents both domestically and internationally to manage players more easily. At that time, the intermediary agents will receive commissions.
The more players participate through the agents, the more commission the agents earn. Typically, online bookmakers today pay agents a commission of up to 40% of the money that players lose at the bookmaker.
And you know, not everyone is lucky enough to win in betting. Most inexperienced players will just deposit money without withdrawing any.
Therefore, your income from being an agent is also not low. For example, street vendors selling drinks or lottery tickets.
In reality, their income from selling drinks is negligible compared to the income they receive from taking lottery bets from customers who come to their stalls.
Vaobo88 has delved into the world of “agents” in this field, which is fully covered in the article How to Take Lottery Bets, please refer to it.
Things to know if you want to make a living from gambling
Do you know why bookmakers always win? If you still do not know why you win or lose, check it out now.
Who knows, after understanding these reasons, you might be able to turn the situation around and turn losses into wins.
1. Understand the true nature of gambling
Gambling is a game of chance; you should not cling to it desperately. Treat it as a form of entertainment rather than a primary source of income.
Simply put, when you play, holding the dice in your hand, even the outcome of opening the bowl is still a 50-50 chance, let alone putting all your assets on the line with the bookmaker.
To make money from any game, you need to study and practice that game more to increase your chances. This field divides people into three types:
- Extremely successful, becoming professional players and making money from it
- People with enough courage, clearly identifying that gambling is for entertainment, so they do not lose much money
- Losers, whose money dwindles
Therefore, understanding its nature helps you not to fear losing control and burning money. Especially when you are unfortunate enough to encounter a casino full of experts, your chances of winning are very slim.
2. Psychology
The psychological factor in gambling is extremely important; it determines the wins and losses, the wealth or ruin of gamblers.
Play with a relaxed mindset, do not let external factors affect your game results. If you play for a long time, take a break; don’t make it a life-or-death situation. Scientific studies have shown that winning a hand and earning money brings an extremely exhilarating feeling. The brain releases a hormone that makes you feel very happy. Therefore, those who are weak-willed can easily become addicted. Even if you lose 10 rounds, just winning one round is enough to make you feel euphoric, right? Don’t fall into the psychological traps created by this game; instead, train your willpower and learn to control yourself. That is the way to help you live with the gambling profession.
3. Gambling has many cheating tricks
Gambling is one of the games with the most cheating. The risks come not only from the house organizing the game but also from the people playing with you. Gambling is tied to money, and money is closely related to emotions. Many people intentionally cheat or use cheating devices to gain an advantage. Therefore, we always remind you to only play at reputable houses. They are managed by competent authorities to ensure that the gaming area cannot be cheated or interfered with by tools, hacks, cheats, etc.
Some famous figures living by gambling worldwide
There is evidence that many people have become wealthy from gambling. Below are some of the world’s famous gamblers.
1. Bill Benter
Bill Benter earns $100 million a year. He is a master mathematician who applied his calculations to the game of Blackjack.
This game made his name in the world of gambling. He later developed software to predict outcomes in horse racing, which successfully brought him an income of $100 million per year. Indeed, if you are a gambling genius, you can make money in any field. And in the world, there are only a handful of people like him.
2. Edward Thorp
He earns $80 million a year. He is the genius who created the card counting technique in Blackjack.
At that time, all Las Vegas casinos were defeated by him, which created his legendary reputation across the United States. After many years of battling in gambling, he switched to stock trading and amazed Wall Street. You can refer to the entire career that shook the world of Edward Thorp.
3. Don Johnson
Don Johnson with his strange betting strategy in Blackjack has earned $15 million. His most iconic match took place at the Atlantic City casino and was even featured in a talk show about his game. In case you want to refer to more millionaire characters from casinos, please check out the article: TOP 10 famous poker kings in the world that make casinos “shake”
Conclusion
Basically, you can make a living from gambling, but it depends on your role and how you operate. If you are a casino owner, a bookmaker, or a middleman and fail to attract players, the consequences can be even worse. The best way is still to become a wise player who knows how to win in every bet. Vaobo88 will always be a reliable companion to help you enhance your betting experience.
