Making a living of gambling - is it possible or not?

[RichardBens14]

The desire to love your job is not new. It's a life's dream for many working individuals, and if you have a penchant for gambling, you may have wondered: can you earn a living from betting? The quick answer is yes, but being a professional gambler is neither simple nor without risk.

Moreover, betting comes with major financial hazards, which you should be aware of before you begin. In fact, your goal to become a professional gambler should not come before your competence in a specific area of gambling. So, anyone may become a professional gambler depending on chance and luck.

Can You Make a Living From Gambling?​
The quick answer is that you can make a life off of gambling. There are several examples of people who have defied logic and won large sums of money through their passion of sports betting or casino games. Some famous examples are Benjamin Tucker and Billy Walters who won $1 million and over $300 million through betting respectively.

Most casino games are based on luck and skill​
Though casino games are often assumed to be completely reliant on luck, the reality is that a significant amount of skill is equally required to win. In fact, many experienced casino gamers make a living by playing games like blackjack and poker.

However, it is vital to realize that in most casino games, luck does play a factor. Even the most proficient player might have bad luck and lose money. Thus, in the end, whether or not you win at a casino game is determined by a combo of luck and skill.

RNG - the technology behind casino games​
The term RNG refers to the Random Number Generator. It is a system that produces random symbols or numerals in a series corresponding to events. This system, which is mostly utilized in lotteries and online casino games like blackjack, slots, video poker, and roulette, works on a non-cyclic basis. In other terms, every individual result is completely random and does not follow any trend or sequence over time.

Remember, casinos always have a house edge​
Have you ever wondered how casinos earn money? Is it due to players losing bets? Well no.

All casino games have an inherent edge that works in the establishment's favor, known as the house edge. It's something that is found on any table game, lotto, or slot machine.

The house edge informs each game's earning and games with greatest returns. So, regardless of where you put your money, if you're wagering on casino games, you can't escape house edge.

Managing risk is everything​
Risk management is critical, especially while gambling or playing at casinos, where some games are largely based on luck.

In a casino, for instance, it's always a good idea to limit the luck aspect by emphasizing on what the player can and cannot influence. The player will therefore be able to manage risk properly, understanding how much of their money to play with and how much of an advantage they have.

This is why many players choose to play table games like blackjack, where the result is determined by skill, strategy and technique. Thus, risk management is the backbone of betting.

Pro tip: Take a break when you are losing​
woman-hands-using-mobile-smart-phone.jpgCoping with a gambling losing streak is obviously unpleasant, but it may also be risky. So, if you need to take a break you can seek expert assistance when necessary, but keep in mind that losing streaks are common and happen to everyone.

Don't place a large bet assuming it will fix all your problems. Because, most likely, it will not. Finns who love gambling know this in particular. Finns who have already been introduced to gambling at a young age know that a deposit of just 10 euros (10e talletus in Finnish) will last for a long time when playing with a moderate bet. With 10 euros you can often redeem a bonus that extends the playing time.

Keeping this in mind, take a breath, rethink your plan, and then try to make up for defeats with one win at a time. Aiming for five tiny wins is safer than one massive stake that could cause more damage than you can afford.

Before betting evaluate the money you can spend or lose​
Prior to gambling always review the plan. Remember that each table has upper and lower limits bets. So, while managing your finances may be the last thing on your mind when you're gambling, it's critical that you keep a record of what you're spending.

Furthermore, it's a great idea to decide how much money you can stand to lose before you begin playing so you know when and how to quit. Also, if you play frequently, you should set daily or weekly or monthly limits. Stick to that budget as strictly as possible to avoid losing more than you can manage.

First step as professional gambler: Creating your own betting system​
A betting system is an independent reference point from which players can calculate the likelihood of an outcome in a specific game.

The model, which employs statistics, charts, and databases, should provide a more accurate representation of a game's potential. If you can spot worth that others may not, you're midway to owning a completely functional model that serves its goal.

Finding the right data is not easy, though. Billy Walters, who became a millionaire by betting on sports, says that finding useful information from all the data is the most difficult part of gambling. Most of the players don