Have you ever wondered if you can gamble for a living, or should you gamble for a living? I’ve thought about this many times and want to share some things I’ve learned with you.
Yes, you can gamble for a living. But a better question might be should you gamble for a living?
Some people gamble for a living. But it’s not an easy life. And before you can consider gambling for a living, you need to learn how to gamble for a living. I cover how you can gamble for a living in the next section.
I also cover the downsides to gambling for a living and a few thoughts about whether you should give it a try.
The Only Ways to Gamble for a Living
If you want to gamble for a living you can only do certain things. And you can’t do most of the things that normal gamblers do.
People who gamble for a living do things that give them an edge. Most gamblers never do anything that gives them an edge.
If you want to gamble for a living, you need to do one of the following:
- Play blackjack with an advantage.
- Learn how to profitably handicap sporting events.
- Learn enough poker strategy to make a profit.
These aren’t the only ways to gamble for a living. But most people who gamble for a living do at least one of these things.
Playing blackjack with an advantage usually starts with counting cards. Profitably handicapping sporting events requires a lot of work and practice. And learning enough poker strategy to make a profit also takes a lot of work.
If you don’t know how to find an advantage, learn how to find an advantage. And if you know how to gamble with an advantage, you just need to exploit advantages as often as possible.
Downsides to Gambling for a Living
You might wonder how gambling for a living could possibly have any downsides. But there are several downsides to gambling for a living. Here are a few downsides to gambling for a living:
- You need a large bankroll.
- It takes a lot of time.
- Some gamblers have to travel a great deal.
- No health insurance, benefits, or retirement plan.
- Stress.
To make enough money gambling to make a decent living you need to put a lot of money at risk. And this requires a large bankroll. It doesn’t matter if you bet on sports, play blackjack, or play poker; you need a lot of money.
The best opportunities for gambling with an advantage are usually in a casino, sportsbook, or poker room. While some people can gamble for a living online, most advantage gamblers have to spend a lot of time away from home.
Professional gamblers don’t have benefits like health insurance and a retirement plan unless they take care of them themselves. While this might not be a deal breaker for everyone, it can be important later in your life.
No matter how good you are at gambling, doing it for a living comes with a lot of stress. If you don’t know how to handle the stress of gambling for a living you need to find something else to do.
Is Gambling for Living Worth It?
I’ve spent a lot of time gambling in my life, and have considered trying to do it for a living several times. But in the end, I decided gambling for a living wasn’t for me.
For me, the time away from home and the need for a large bankroll are too much. I can handle the stress and other issues, but I’m happier gambling part time. I still focus on doing things that give me an advantage. But I don’t do them full time.
Spend some time going over the downsides listed in the last section. If you can live with all of the downsides and know how to gamble with an advantage, gambling for a living can be worth it.
Conclusion
I know you can gamble for a living because I know some people who do it. But just because you can gamble for a living doesn’t mean you should do it.
It’s not easy to gamble for a living. But if you learn how to get an advantage playing the right games you can do it. But the downsides often outweigh the benefits.
Don’t jump into trying to gamble for a living lightly. Consider all of the plusses and minuses before taking the plunge.