2007-03-20 03:13:11 · 11 answers · asked by Anonymous in Games & Recreation ➔ Gambling
If you want to learn how to make a living gambling, know that you will likely lose a lot of money in the process of learning how to do it. In my experience, gambling is a skill, and gambling professionally is like any other profession. It takes lots of practice, a winning system, and then the discipline to appy it in the right circumstances. Most gamblers, me included, start out by believing in false systems and then throwing a lot of money away; its only by learning what doesn't work, that you might eventually find something that does.
2007-03-20 04:01:29 · answer #1 · answered by slywakka250 1 · 0⤊ 0⤋
If the bookie balances action, he's not really taking a risk. Getting equal action on two sides of a -110 line will get a riskless payoff. In reality, though, they are not going to equally balance the line even if they want to; often they will intentionally take some unbalanced action. It is definitely possible to beat the bookie at sports betting. You have to find situations where the bookie's line is significantly different from the "actual" line. It isn't easy. The vast majority of people are long-term losers.
2016-03-16 23:28:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It is possible to make a living gambling. However, the vast majority lose more than they win. Also, there are some people that throw their lives down the toilet and become addicted to gambling (and lose).
Most people that make a living gambling do so by winning heads up against other people, where there is a significant skill component. For evidence, just look at the World Poker Tour.
2007-03-20 03:18:58 · answer #3 · answered by Anonymous · 0⤊ 1⤋
If you want to earn a living from gambling then open a bookies that way your sure to win
2007-03-20 03:23:02 · answer #4 · answered by dreams 6 · 0⤊ 0⤋
I dont make a living out of gambling however I cannot fail to win as I am a mystery shopper I get £5 to bet with which is refunded and an £8 fee and if the selection wins I keep the winnings to :-)
2007-03-20 06:40:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Yes, you can make a living gambling but not on games of chance since the house needs only a small margin in its favour to regularly come out on top . For instance the margin in roulette with 37 numbers, 18 black, 18 red and one white /green is 1/37 which is less than 3%. Yet you cannot devise a system to beat it.
However betting on horses is in a different category since it is essentially a game of skill and, because you refer to a bookie rather than a club/casino, I guess that this is the kind of betting you are interested in. I decline to refer to betting on horses as gambling. You must remember that the bookie's margin or 'take' is the ONLY advantage which the bookie has since all the other choices are in the punter's domain. All you have to do then is beat the figures and you do that by betting horses which YOUR judgement tells you are overpriced. This means for the most part betting against the majority opinion since there is hardly ever any value in a favourite and because the betting market follows to some extent supply and demand.
However the confidence in your own judgement must be well founded and you must not delude yourself in this. It takes years of experience and is very difficult "to make it pay." Bookies are rich because the majority of punters need somebody to tell them what to bet on, be it a newspaper tipster or other so called professional, yet they delude themselves that they are using their own judgement. Professionals do not give away good tips until they are "on" themselves and if they do it is in order to bet with your money rather than their own. In short, although I have made it rather long, It can be done but on the whole it is not worth the effort that you need to put in to get the experience and expertise to benefit from it.
2007-03-20 07:34:37 · answer #6 · answered by Eddie D 6 · 2⤊ 1⤋
Very very few people make a living at gambling, and they know as much about when not to bet then when to bet.
Did you ever see a poor bookie?
2007-03-20 03:23:11 · answer #7 · answered by Corneilius 7 · 0⤊ 0⤋
Wow that guy wrote a whole life story, just give the "Best Answer" to him, Im sure your answer is some where in that book he wrote lol good stuff
2007-03-20 07:53:26 · answer #8 · answered by chase.casey 3 · 0⤊ 0⤋
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the only time you win is when you walk in with your hand still on your wallet and you pick the door that says exit.
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2007-03-20 11:52:42 · answer #9 · answered by andygames07 3 · 0⤊ 0⤋
not a chance pal, take it from me, i went down that path before
i have yet to meet someone who dares to claim he/she can make an honet living doing it
2007-03-20 06:42:17 · answer #10 · answered by thinker 4 · 0⤊ 0⤋