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The question of whether or not it is possible to make a living by gambling is a commonly asked question. I can tell you right now that it is possible to make a living gambling, but it’s not easy. The days of walking into a casino, counting a few cards and making millions are long gone.

The answer to this question depends partially on your definition of “gambling.” If you consider activities such as poker and sports betting to be gambling, then yes it is entirely possible to make a good living by gambling. I personally don’t consider it gambling if you use skill to make a consistent income, but we’ll just lump all casino games into the gambling category for the sake of this one article.

Blackjack Card Counting for a Living

Card counting is possible at live casinos but not at online casinos. The problem with card counting at online casinos is that the deck is constantly shuffled. Every hand of blackjack that you play at an online casino comes from a fresh deck.

Live casinos typically do not use a deck that is continuously shuffled. This makes it possible for you to count cards and determine when the deck is rich in aces. However, live casinos take many steps to prevent people from card counting and earning a consistent income.

First of all, most live casinos simply ban known card counters. These casinos use surveillance and facial recognition technology to spot known card counters and remove them from the premises. Some states, however, have made it illegal to ban casino patrons simply because they count cards. But even in these states, casinos still find ways to make life difficult for blackjack card counters.

One simple tactic casinos use to prevent card counters is to send people down to the casino floor to distract or intimidate card counters. This casino employee may dress as a patron and make small talk in order to distract the card counter or the employee might dress in a dark suit and give the card counter dirty looks.

Having said that, there are still some people out there who can count cards successfully. It’s not an easy thing, though, because it requires great concentration, skill and the ability to count cards without appearing to do so.

Poker for a Living

Poker is the only game in the casino that does not have a house advantage. This is the one game where I’ll tell you it is possible to make money for a living. In fact, most people (including me) do not even consider poker gambling.

Thousands of people make a living by playing online and/or live poker. This career choice is not easy but it is realistic. I myself spent the last year of college playing poker professionally. If you’re bound and determined to make a living by playing games, poker is definitely the way to go.

Sports Betting for a Living

Some people do make a living by betting on sports, but it’s very difficult to make it to that point. Not only does professional sports betting require extreme dedication and knowledge, but it requires a massive bankroll to make any decent money. Professional sports bettors are happy with a 57% win rate. The ups and downs associated with such a minor advantage require a huge bankroll.

If you would like to pursue professional sports betting, your best bet is to hang around online sports betting forums and learn the business from the ground up. Pay no mind to scam sites that promise you a 90%+ win rate. If it was that easy, everybody would be raking the money in hand over fist.

Video Poker for a Living

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There are professional video poker players out there but getting started is not easy. There’s just not a lot of information out there because winning video poker players do not often reveal which video poker player machines are profitable. From what I’ve read, the right strategy used at the right machine can yield a return of about 103% of all money wagered at that machine.

Most of the return in video poker machines is found in the jackpots that are given out for royal flushes. This means that you have to put in a lot of volume to see a consistent return. A large bankroll and strong stomach for variance are both required to even have a chance as a professional video poker player.

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Beethoven9th

Ahigh, what in the world are you talking about? Baccarat is a negative expectation game. Everybody loses in the long run.

Fighting BS one post at a time!

rdw4potus

Don't professional gamblers limit their play to games that are beatable? +EV VP, counting BJ, hole-carding carnival games, etc. Why would they play Baccarat, when it's not possible to get an edge in that game?

'So as the clock ticked and the day passed, opportunity met preparation, and luck happened.' - Maurice Clarett

rdw4potus

Baccarat is an example of a game where there is a larger percentage of people who play that game who have been lucky enough to have lifetime wins compared to other games (for example, double-zero roulette).
For those lucky people, they can play the game professionally.
But as far as setting out to be one of those lucky people, it's like setting out to inherit money. It happens to you, not as a result of something you do, you just either have it or you don't.

Whether they've had luck in the past or not, every additional visit to the table is like setting out to inherit money. Sure, there are people who set out hoping to continue their good luck. But, there's no logical reason at all why the luck would/should continue in the future.

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'So as the clock ticked and the day passed, opportunity met preparation, and luck happened.' - Maurice Clarett

Ibeatyouraces

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klimate10

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You can only win at Baccarat if you practice card control/card influence. With only 1% HE, you only need to influence one hand out of a 100 before you have an edge. (I didn't write this..hmmm)

thecesspit

Ahigh, what in the world are you talking about? Baccarat is a negative expectation game. Everybody loses in the long run.

Define the long run. Not everyone loses over their life times. Everyone is -expected- to lose, but they may not actually lose.
It's possible over a large number of hands of baccarat to be in the positive. It's rare, and the variance of baccarat is so low, I'd expect the large number of hands to be less than other games to have more than 1% of the players to be positive. I'd even guess that the number of hands is less than that for playing a number straight up on a double zero roulette wheel.

'Then you can admire the real gambler, who has neither eaten, slept, thought nor lived, he has so smarted under the scourge of his martingale, so suffered on the rack of his desire for a coup at trente-et-quarante' - Honore de Balzac, 1829

Beethoven9th

Define the long run. Not everyone loses over their life times. Everyone is -expected- to lose, but they may not actually lose.

I knew somebody was going to ask this. As you well know, it's not definable, but since he was talki