Can You Make a Living Off Gambling?
Gambling is one of the oldest activities that have attracted millions of players across the world. Nowadays, people can play casino games for real money or entertainment. The thrill of landing a lucrative win is what keeps many players gambling regularly. In both land-based and online casinos, players can play a wide range of games for money. Some prefer sports betting while others play skill-based games like poker and blackjack. Slot machine games with huge progressive jackpots also have a growing fan base.
Many players aspire to be professionals and have lots of questions in their mind. Can I make a living off gambling? What does it take to become a professional gambler? How much money does a professional gambler make per year? Can I make money through sports betting? These are some of the questions people who want to gamble for a living ask themselves. If these questions have been troubling you, I’ll try to answer them in this article. Continue reading to find out more.
Can I Gamble for a Living?
While it’s possible to lose money in gambling, you can make a living gambling full time. Keeping in mind that some players have won millions of euros gambling, it’s possible to gamble for a living. In fact, some people have won enough money to sustain them for a lifetime. Also, some wins are good enough to sustain you for several months or a few years. However, it is not a proper and guaranteed way to make a living. Instead, I recommend you to gamble for fun. Otherwise, you’d find yourself in between some mental and monetary problems, as the most gambling addicts do.
Luck vs Skill and Strategy
Sometimes you don’t have to gamble full time to win an amount that’s big enough to change your life. For example, it takes a single spin for a progressive slot game player to win tens of millions of euros. Even new players with no experience can win an enormous progressive slot jackpot without experience. This is what I call pure luck because no skills are needed to win big when playing slots.
On the other hand, it takes time for poker players, blackjack gamers and sports bettors to master their skills. Once you understand the odds and do your research, you can sharpen your skills and utilise the best strategy. And if your strategy is right, you could make a living gambling.
List of Online Gambling Sites with Highest RTPs & Bonuses
If you want to make enough money as a gambler, you need to be able to identify good casinos. First of all, the selected casino must be licensed by a reputable licensing body. I’m talking about licensors like the United Kingdom Gambling Commission and the Malta Gaming Authority. Without a gaming license, it’s hard to trust a casino operator because you never know what they are up to. By following my guides and playing at the casinos that I listed here, you can have proper gaming experience.
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Casino Games with the Best RTPs
One of the key determinants of your success as a professional gambler is your choice of games. All gambling sites are not the same, so it’s important to identify the ones with the best game library. I always look for games with the highest RTPs and the lowest house edge.
RTP stands for a return to the player, which is the theoretical payout percentage of each game in the long term. An RTP of 95% means that players can expect to get back 95% of their wagers in the long run. The remaining 5% is what is known as the house edge or casino advantage. To win a lot of money, the house edge must be as low as possible.
When looking for the best gambling sites, you want to find those with generous bonus offers. And why is that important? Well, your bankroll may dry up from time to time if you gamble frequently. Casino bonuses come in handy if you run out of money and you are unable to top up your account. The bottom line is that a good bonus will boost your bankroll and keep you playing. As a professional gambler, you should pay attention to casinos that offer lucrative bonus deals.
I have been a gambler for years, so I know the challenges gamblers face when it comes to finding great bonuses. With many years of experience, I’m able to identify gambling sites with the best bonuses. Whether you play for fun or real money, I can help you find casinos with amazing bonus offers. Make sure to check my list of recommended casinos for the best bonus deals.
One way to know a reliable casino site is to look at the welcome bonus. For me, a good bonus must at least match my deposit. This is what is commonly known as a match bonus in the casino industry. It’s 100% of your deposit amount, so it doubles the amount deposited. For instance, if you deposit €500 and receive a match bonus at that rate, you’ll have €1,000 in your casino account. However, welcome bonuses are meant for new players to warm them up to the casino.
Deposit and No Deposit Bonuses
Great casinos are generous enough to reward gamblers with different types of bonuses. You may receive the deposit and no deposit bonuses to increase your bankroll. To receive a deposit bonus, you need to make a deposit and meet the minimum deposit requirements. On the other hand, no deposit bonuses do not require a deposit to claim. And if you play slot machines, you may receive some free spins in addition to your welcome bonus.
Bonuses for Existing Gamblers
Pro gamblers can capitalise on a wide range of bonuses that are awarded to existing players. If you become a casino’s loyal customer, you may be rewarded for your loyalty. Some casinos have a loyalty or VIP programme for their esteemed customers. Here, players earn loyalty point and get paid with cash prizes, incentives and other perks. For professional players, a massive cash prize presents an opportunity to gamble for real money.
A reload bonus is similar to a deposit bonus. It’s awarded to existing players if they keep depositing and playing. Some casinos have huge reload bonuses that could be useful when you run out of cash. In other cases, they frankly fulfil your tank to be in full spate.
What Percentage of Gamblers Win?
It’s hard to give an exact percentage of gamblers who win regularly. However, it’s said that about 1% of pro poker players and 5% of pro sports bettors become successful. Looking at these figures, it’s evident that less than 10% of gamblers win constantly. For sports bettors, the truth is that it’s difficult to win more than 55% of the games you bet on. Moreover, it’s widely believed that sports gamblers need to win at least 52.4% of the time to make profits.
Pro Gambler Tips by GamblerGuy
Having gambled for a long time, I have gathered enough information to assist you if you want to gamble professionally. I am not an expert, but I know one or two things that will help you get started. Many people who want to gamble professionally fail because they have no idea where to begin. Others have no one to talk to and thus end up being disappointed with the choices they make. The following are some useful tips to keep in mind to make a living as a gambler.
Identify Your Favourite Niche
One of the reasons why some people fail to succeed as pro gamblers is because they don’t know their niche. For anyone to be successful in any field, it’s important to know their passion. The same rule applies when it comes to gambling because people don’t always have the same preferences.
While it’s possible to fall in love with one casino game from day one, it doesn’t happen all the time. If you find yourself stuck between choices, I would advise you to try various disciplines. The more games you try, the more the chances of discovering your passion. You need to be able to identify your favourite niche and focus on it to become a successful pro gambler. I’ll talk about the best game options for pro gamblers later.
Diversify if Possible
Finding your favourite discipline is a great way to start your profession. However, you can make more money if you choose to diversify. There are numerous opportunities to make money. If you play professional poker, for example, you may partner with online poker sites and look for sponsorships.
Talk to Pro Gamblers and Experts
Most people may not be lucky to interact with a pro gambler, but it’s worth it if you can. Suppose you can’t find one to talk to, read my blog to learn about the best gambling strategies. You can also talk to experts in the field and make use of their advice whenever you gamble.
I’ve always said that gambling is a risky game because players can either win or make devastating losses. And as every experienced gambler knows, the house always wins. This means that casinos have higher chances of making profits than gamblers. For this reason, you should always manage your risks.
A pro gambler always aims to win, and it’s all about taking risks. But you cannot afford to place huge wagers all the time. I also discourage gamblers from wagering everything they have at once. If you do, you might lose all of your money in a few seconds. That’s not the kind of experience you want to have before your career takes off.
Don’t Give Up Everything Else Immediately
It’s a big mistake to give up everything else just because you want to make a living as a gambler. Honestly, you cannot make a living through gambling in a day or week, unless you win a huge jackpot. If you choose to gamble professionally, bear in mind that it’s a process that demands patience.
It takes time to learn how things work, so don’t be quick to resign or close your business. I recommend that you keep your job for as long as possible until your gambling income is good enough. When the time to focus on gambling alone comes, take time before you give up your previous sources of income.
Invest Your Winnings
Although it’s possible to make a living off gambling, you can never know what the future holds. For this and other uncertainties, it’s wise to invest your winnings. I can attest to the fact that gamblers can make more money if they invest in lucrative sectors. Some people make a lot of money by establishing businesses, while others play the stock market. Find your passion and invest while you can.
Professional Gambler Salary
Many people who aspire to be professional gamblers want to know how much money a pro gambler earns per year. It’s important to be familiar with the figures so you can know what to expect in the long term. Of course, the amount you can win through professional gambling varies depending on your gambling activity or behaviour.
The truth is that it’s possible to earn a lot of money if you master certain games. For instance, some people have become millionaires betting on poker, blackjack and sports. Such games require some level of skill and learning, unlike slot machines that depend on pure luck. I’ll talk about game choices for professional gamblers later, so keep reading.
Average Annual Salary for Professional Gamblers
So, how much does a professional gambler earn per year? The potential earnings as a professional gambler can be vast if you make the right choices. Pro gamblers can earn from tens of thousands of euros to as high as €150,000 per year. The average annual salary is about €65,000 per year, which is good enough to sustain you without other sources of income. As you can see, the average salary is more than the average annual salary in Europe.
Winning Millions as a Professional Gambler
For some pro gamblers, an annual salary of €150,000 is not the limit. Many people have won millions playing different types of casino games. Some players have won enormous progressive slot jackpots while others have scooped millions by participating in poker tournaments. Lucky sports gamblers have also won massive jackpot prizes worth a lot of money.
Hard Work Will Determine Your Salary
I would like to point out that there’s no guarantee that you’ll get €65,000 every year by gambling. You need to put a lot of effort to win that amount every year. The fact is that your income will depend on how much work you are willing to put in. You must be committed to the professional to reap from it. And still, if you are not lucky enough, you can lose everything in a blink of an eye.
Allow me to use poker as an example because it’s a great choice for professional players. To stand a chance to get a decent income playing poker, you must put more work into the game. This includes regularly practising, setting goals and managing your bankroll properly. If you do everything right, it’s possible to win millions of euros per year playing poker. However, let me remind once again, only less than 10% of the gamblers can reach there. So, better be careful about while placing your bets.
How to Become a Professional Gambler
Now that you know how much you could earn as a gambler, let’s talk about professional gambling. Gambling for a living is what differentiates professionals from other people who mostly depend on other sources of income. Some people make a living gambling part-time while others gamble full time. But the big question is, what makes a pro gambler?
What Makes You a Professional Gambler?
The term profession is defined as a job done by people to get paid. A profession also involves some form of training to improve your skills. In the gambling industry, you can make money by gambling occasionally or frequently. You also need training in one way or another to perfect your gambling skills.
To become a professional gambler, you should be able to support your lifestyle through gambling. You should not only make money through it but earn enough to take care of your bills. This includes earning enough money for basic needs and everything you need to live a good life.
I normally refer to people who gamble part-time as semi-professionals because gambling is not their primary source of income. If you have a permanent job and only gamble on weekends, I would categorise you as a semi-professional gambler. Real professional gamblers mainly focus on gambling activity and invest all or a large sum of their money in gambling.
Training for a Professional Gambler
If you want to make money through gambling, you need to invest in training. Certain games like slots are easy to play and may, therefore, not require training. However, pro gamblers mainly focus on skill-based games. And it’s hard to win good money if you are unaware of the rules and strategies.
Gambling Resources and Courses
It’s important for people who are interested in professional gambling to take training seriously. Although there are many gaming resources online, there are training schools for novice gamblers. Yes, if you want to stand out as a professional, I recommend such schools. They give players the opportunity to learn about various casino games, including poker, roulette and blackjack. To be honest, school is a perfect place where students acquire practical skills and learn everything about professionalism.
Most gambling activities are governed by laws to ensure fair gaming and professionalism. To become a pro gambler, you need to be of an acceptable age. Of course, this age depends on gambling laws in your country. Also, gambling laws outline both legal and illegal gambling activities.
Training helps you learn about how to deal with taxes when you win taxable amounts. Most countries have put in place laws outlining the amount of taxable income form gambling activity. If you gamble professionally and fail to pay your taxes, the authorities will eventually catch up with you.
A game like a blackjack requires some basic math skills because it involves calculations, particularly addition. Moreover, you need to do the math as fast as possible to keep up with the dealer. In fact, casino dealers undergo training, so they are able to meet their job requirements. If you’ve watched a skilled blackjack dealer, you know that it takes training and practice to deal fast.
If you don’t train and practise, you will have trouble following the dealer’s calculations. This is especially true when dealing with an experienced dealer in a land-based casino.
Besides training at school, some skills can be acquired through personal training. For example, every pro gambler knows that observation skills are essential. And you don’t need to go to school to learn how to be observant. My point is that paying attention to the dealer is something you can perfect in the course of your profession. If you are not keen, a dealer with malicious intentions might manipulate the cards without your knowledge. You need to follow every move made by the dealer.
If you want to make money that can sustain you as a professional gambler, it’s important to have a bankroll. In addition, you need to possess bankroll management skills. Simply put, a bankroll is the amount of money you set aside for casino gaming. Even if you are an experienced gambler, my advice is that you should spend what you can afford to lose. And that’s why bankroll management is paramount for all gamblers. Let’s talk about some useful bankroll management strategies.
Create a Budget
If you want to make money as a pro gambler, you must have a budget for your gaming activity. For me, budgeting is the first thing you should do because your bankroll dictates what you can do. Even at home, it’s hard to live well if you fail to allocate money where it’s needed. For example, you cannot plan to buy an expensive car if you can’t afford to buy basic items like food. Likewise, you cannot spend a lot of money on casino gaming if you can’t take care of your bills. My point is that you need to set a budget that matches your lifestyle and follow it.
Know Your Limits
As I said earlier, you should only spend what you can afford to lose. With that in mind, you need to know your limits or bet range. Usually, gamblers are discouraged from placing bets worth more than 1% of the amount in their bankroll. So, if you deposit €200, the best decision is to never place bets bigger than €2. However, experienced gamblers and high rollers may place higher bets. You want to make sure that your bankroll lasts for the longest time possible.
Know When to Take a Break
Your bankroll won’t last long if you don’t know when to take a break. Whenever you decide to gamble, you can expect to win or lose money. A big win can lead to a spike in adrenaline and make you want to gamble more and more. Also, you might want to gamble more if you keep losing and consequently end up with an empty casino account. Sometimes you need to take a break, especially when you are on a prolonged losing streak. Take time to rethink your strategy and ensure that you don’t deplete your bankroll chasing losses.
Choosing Your Game
I’ve already talked about the need to identify your favourite niche or casino game to become a pro gambler. You are probably want to know where to start. Luckily, I have searched around and identified the most popular options for pro gamblers. I’ll focus on games with the lowest house edge in the long term.
Blackjack is one of the most played casino games because it presents numerous benefits compared to other games. All games at casinos are designed to give the house an edge, which is difficult to beat. The best thing to do as a gambler is to play games with the lowest house edge. Blackjack is one of the best games with the lowest casino advantage.
If you play blackjack, you can enjoy a low house edge because the house rules can lower the edge. For experts who understand blackjack strategy, it’s possible to play with a house edge of 0.5%. Sometimes the house edge goes below 0.5%. Players with little experience may have to deal with a house edge of 2%. And that’s why you need to train and practice to sharpen your gaming skills and strategy.
One of the best ways to get an edge when playing blackjack is to count cards. Card counting is the practice of memorising cards to get an edge over the casino. The less the number of decks, the easier it is to count cards. When counting cards, players estimate the number of high cards and low cards in the deck. High cards include tens and aces while low cards are deuces through sixes.
More high cards in the deck translate to more blackjacks for the player. In this case, the player can make more money because those hands pay 3:2. Also, keep in mind that the odds change during gameplay. So, if you know how to count cards, you can know when the odds are on your side. For instance, you may choose to double down if the odds of getting a blackjack are high. And that’s when there are many tens and aces in the deck.
Poker is another casino game with a large number of followers and big winners. Many gamblers have made a living playing professional poker, especially in tournaments. I love this game because poker players play against other players instead of the house. If you think about it, you can increase your odds of winning if you play better than other players.
Casinos that offer poker only make money by taking a small amount of money from each pot. This amount is known as the rake and ranges from 2.5% to 10%. Most of the cardrooms I know take 5% rake, which is fair enough. So, if the pot has €1,000, the casino will keep €50. As mentioned earlier, it takes a lot of effort to win big as a professional gambler. If you choose to play poker, you need to read and practice a lot to perfect your gaming skills.
Video poker is also a great option if you have no problem competing with a machine. Unlike a slot machine, you know the odds of winning a jackpot when playing video poker. Therefore, you can easily calculate how big the jackpot needs to be for you to have high expectations.
However, you need to work harder to become a professional video poker player. Usually, professional video poker players collaborate with other players. If you have positive expectations, every member of the team plays until one of them wins. Because everyone has participated in winning the jackpot, players get paid by sharing the prize. For those interested in playing poker alone, I recommend Texas Hold ’em.
Sports betting has gained popularity in recent years with players betting on all sorts of sports. Sports bettors can bet on football, hockey, horse racing, basketball, tennis and many more. I believe it’s possible to make a living off sports betting because many sportsbooks offer lucrative odds. Bookmakers set the odds and may change them based on the size of your bet.
To increase your edge in the long term, you need to know the game. I’m talking about the ability to analyse players and teams with the best value. The key to winning big on sports betting is to identify many value sports. The more the selected sports, the higher the possible win.
Prospective sports bettors should keep in mind that the profit margin is usually not big enough. This could be a challenge for pro sports bettors who want to win huge sums of money. Due to the low-profit margin, bettors have to place huge bets to win big.
In sum, it’s possible to make a living if you choose to become a pro gambler. To become a successful gambler, you must choose the right games and know your probability of winning. You also need to train and work closely with experts. Overall, your success depends on your efforts.
I hope that the tips presented here will help you succeed as a gambler. Make the most of them and remember to gamble responsibly. Finally, I have recommended the best casinos on this page, so feel free to sign up to grab generous bonuses and enjoy placing your bets freely.
There are numerous options, but the best ones include poker, blackjack and sports betting.