Are there really effective ways to live off gambling?

Question

Are there really effective ways to live off gambling?

Answer 1

Sure, there are "effective" ways of living off gambling - look at pro poker players, they're all rich, right?

But not all poker players become pro. Those are the ones who aren't so rich...

If you find yourself wondering wether or not you can make a living off gambling, I'm guessing you're not quite ready to do it.

Answer 2

The most effective way is to buy a casino.

Answer 3

Absolutely, however it is most definately not easy.

Professional poker players win money in the long term due to the number of amatuer players at the tables they play with, by playing ideally, they hold an edge over the other players at the table and that edge is large enough to overcome the amoutn of money the casinos take from the pot.

Professional Blackjack players keep track of the cards dealt from a shoe to get an idea of what is left in the undealt portion of the shoe, they then calculate the new house advantage and ONLY place bets when it is in their favor.  By doing this they can gain an edge of almost 2% depending on their skill.  They employ other tactics as well which are trade secrets and can dramatically increase theyre edge to as much as a 53% advanatage.

Lastly there is the comp hustle, shich you really cnat live off of but basically its a method of playing that ensures you get more free stuff than you lose in money.  I suppose if you were able to get comped a hotel room and food every night you could live off of it, but eventually you would run out of money.

-edit-  To clarify confusion, gaining an edge in blackjack is entirely still possible, to learn about it visit:

http://www.qfit.com/blackjack.htm

Answer 4

No, if it were easy to make money gambling then nobody would be working for a living.  The simple fact is that the only people making money from gambling are the casinos.  In the casinos the games all have odds that favor the house so you can forget about making a living there, unless you own a casino.

Answer 5

. It's mostly called "Luck".

If it was easy, everybody would do it and there wouldn't be any Losers.

Answer 6

Yes become a pro poker player its so easy. Trust me.

Answer 7

It is possible to make profit off of a game like poker, because it is played against other players, not against the house.  Therefore, as long as you are a better player than your opponents, you stand to profit over the long term.  

However, becoming a good poker player is very difficult, so not everyone is capable of handling the pressure.

I think just about anyone stands to lose in the games against the house.  Blackjack used to be an exception, but with the multi-deck shoes, reshuffling frequently, and adjusted payouts for 21, I think the casinos have eliminated the edge that card counters once relied on.

Answer 8

No though some are good at it most lose all their money . Its a multi billion industry and they are the only winners...I stopped in time but I still lost a lot of my money ...

Answer 9

i just read Antonio Espandiari's advice for this same question. In summary:

Don't quit your day job. 9 out of 10 who try to become pro players fail. Everybody has the same knowledge, but the successful pros have a little extra something that makes their reads on people more accurate, and you're either born with that or you're not.