It’s the dream of many; playing casino games, having fun, and actually not losing money but earning an income. Is this some form of illusion or can you make a living from being a professional gambler?
Before we get started, it’s important to point out that all types of gambling are based on luck. There is no secret formula for winning money or else it would be illegal. However, there are certain games where skill can contribute to better outcomes and puts you in control of your profit & loss statement. Let’s have a look!
Poker is the casino game where your chances of winning money is by far the greatest. While you do need some luck in getting the right hands, there is an exceptional amount of skill involved that directly impacts the outcome of your game. Reading the hands of your opponents, keeping track on which cards have been dealt, raising your bets at the right time, and bluffing when required. In Poker, skill plays a tremendous role, which is why players like Dan Bilzerian or Phil Ivy have made millions of dollars with it. Funny enough, because Poker is regarded as part luck and part skill game, you might be required to pay taxes on your winnings. This all depends on your country of residence, so make sure you’re informed and comply with the law.
Blackjack is one of the traditional and most popular games in casinos. The rules are simple; you’re being dealt two cards at the beginning of the game and play against the dealer. The goal is to get as close to 21 as possible by taking new cards. If you go over, you lose, if the dealer goes over, he loses.
The best thing about Blackjack; it’s beatable! Back in the 1980s, a group of students called the “MIT Blackjack Team” used card counting techniques to beat casinos in Atlantic City and Las Vegas regularly, and they won millions. However, casinos recognise that counting cards work and hence it’s illegal to use this technique at any casino worldwide. Even online casinos prohibit it in their terms although it seems implausible that players could count cards on the Internet. Check out SisterSites for more information to casino games, operators, and their rules.
Last but not least; sports betting is the third form of gambling where skill can make a difference. In the United Kingdom, horse race betting is extremely popular and some bettors do this full-time. It’s because predicting a horse to win is not only based on luck but also your knowledge of the horse itself, the jockey, as well as the horse breeder. If you’re well-informed and smart in the way you bet, you will significantly increase your chances of winning.
Roulette is another popular game that can be found at literally any casino. The game consists of a field with 36 numbers split into two colour sections, black and red, as well as a spinning wheel with said numbers and colours. Players can place their jetons on either a particular number, in between numbers, on a range of numbers (1-18 and 19-36) as well as on either colour. The goal is to predict which number and colour the wheel will return at the next spin.
While there are some techniques to lower your chances of losing and make a win more probably, Roulette is purely based on luck. There is simply no chance to predict which number will show next. Some would disagree and refer to Martingale, the infamous probability strategy. In the simplest terms, this betting strategy says that whenever a loss occurs, gamblers should double their bets in the next round to recoup all previous losses and make a profit on the original stake. It doesn’t sound like a plausible system minus the fact a gambler’s wealth is finite. There might come the time when you cannot double your previous bet and lead you straight into bankruptcy. As such, Martingale cannot be considered a working strategy and should be avoided at all costs.
The by far most popular game at casinos are slots. They come in all shape and forms, follow different themes, and big casinos often feature thousands of them. Slot machines are tempting considering you can often spin the reels for a few coins with the possibility of winning big bucks. However, if you’re aiming for generating predictable revenue, slots are definitely not your friend.
Slot machines are purely based on luck and there is literally nothing you can do to make a positive outcome more likely. You are absolutely dependent on the algorithm the machine is running on, which some people fear could be rigged. While there is no proof for such a claim and it is rather unlikely, considering casinos have to comply with strict regulations set out by gaming and gambling commissions, chances to walk away with a profit in the long-term are slim.
However, that being said, slots do have a relatively high return to player rates, which refer to the percentage the casino pays back in winnings for each $1 wagered. So when playing at a slot machine, you will most likely win smaller amounts of money frequently, and if you know when to stop, there is a good chance that you are going to walk away with more money in your pocket than you had before. Unfortunately, most people struggle to stop at the right moment and end up losing most of their gambling budget.
Bottom line: In gambling, there are ways to predict the outcome of a game and use your skills to earn more than you lose. For some, it works out, and they make a living from it, but in general, it should be said that becoming a professional gambler is the exception to the norm. If there are bills to pay, you should probably still have a regular job to be on the safe side.