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trying to make a living gambling fulltime

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Posted: #26
Quote Originally Posted by hayseed:

So who knows anybody that makes a living doing this? You hear stories but other than Len Banker (Barker?) and Bill Walters, is there anybody? Proof?

I don't believe thesithkiller either. I must be gay.

 

I knew 2 guys in Vegas who lived off betting sports. They were really good. However, they were getting collared like crazy by the casinos.

 It took me about 4 years of trial and error to finally start winning, but that's when they started collaring me. Now I only bet with offshore books. Vegas don't want any winners.

It is possible to live off betting sports, but it takes a loooong time and a whole lot of donations to sportsbooks to learn the trade.

 

 
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Posted: #27

I knew 2 guys in Vegas who lived off betting sports. They were really good. However, they were getting collared like crazy by the casinos.

 It took me about 4 years of trial and error to finally start winning, but that's when they started collaring me. Now I only bet with offshore books. Vegas don't want any winners.

It is possible to live off betting sports, but it takes a loooong time and a whole lot of donations to sportsbooks to learn the trade.

 
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Posted: #28
Quote Originally Posted by jebe99:

I knew 2 guys in Vegas who lived off betting sports. They were really good. However, they were getting collared like crazy by the casinos.

 It took me about 4 years of trial and error to finally start winning, but that's when they started collaring me. Now I only bet with offshore books. Vegas don't want any winners.

It is possible to live off betting sports, but it takes a loooong time and a whole lot of donations to sportsbooks to learn the trade.


Any Vegas pro uses both the Casinos and offshore as well. 
 
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Posted: #29
Quote Originally Posted by fsutomahawk:


Any Vegas pro uses both the Casinos and offshore as well. 

You could, but the casinos aren't worth the trouble anymore, with all the legwork and line shopping in person.
Only casino that still took big bets from pros was Barbary Coast, only because it was managed by last of the old school guy. Forget his name, it's been years, he was short old Italian guy.
All the other casino books are now run by bean counters who are their to just keep their jobs. 

I hated living in Vegas. Thank god for the offshores.
Now, if I can only figure out a way to get a Pinny account.....
Any suggestions?     
 
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Posted: #30
Get a job.
 
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Posted: #31
Quote Originally Posted by kohli4:

Get a job.


This is my job. Yeah, there are some who do make it. Jealous?  
 
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Posted: #32
if you have one of those live game betting sites u can make some real good money betting both sides ive seen the favorites get 10 points in the first quarter live betting is def the way to go if u want some money making chances the spreads will hange like every score which gives u a great oppourtunity to take both sides
 
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Posted: #33

The best way to view gambling is as a part time job.  Yeh going to work sucks, but doing nothign all day sucks just as much.  

I once heard this from some professional poker player and it really hit home with me.

What he said is that he would rather be a part time gambler than a full time one.  Think about it you work and make 45-60 k  a year.  Thats not that much these days esp. in NJ, however, what happens if you are good enough gambling where you can make an extra 10-20k.  Now you are up to 80 k and jumping into the upper middle class area.  Gambling is so friggen stressful and some pro gamblers who make a 100k a year are gambling 1k a game.

I tried to be a "professional poker player" and just realized I hated the lifestyle. I'd make a few thousand dollars to only see my bankroll destroyed by life expenses.  I started realizing that I was not ever going to become an adult grinding my MTT and sit n goes.   I eventually went back to school for my masters degree which while in this economy doesn't mean much, its nice to always know I have it as a backup.

My dream now is to have a real job and make guaranteed money and get to a point where I make 10-20k a year gambling.

Life is much less stressful and still sweeter as your getting money you don't deserve which is always fun.  And who knows maybe one day you hit that parlay/ multi table tournament/ superfecta in the sky and can give up the real job. 

 

 
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Posted: #34
I too dream of this. Do put in the homework, start small, build build, money management, look at all the angles all this is work it can be done is being done by many.
 
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Posted: #35

Some interesting responses here. Seems like there are a few who can survive.

Then there is card counting, but that's also awfully hard to get away with for long.

 
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Posted: #36
Offshore betting is no guarantee of continued access if you are consistently successful at a significant level of action. Making a commitment to this activity certainly seems like a fool's errand. This should come as no surprise to anyone but it's certainly useful to keep your eyes open. Congrats to anyone who can sustain this. I'd be reaching for my heart meds.
 
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Posted: #37
play every game like a hand of poker. make the best decision possible after studying the situation. picks your spots and wait for the "pocket ACES" before unloading on ONE SINGLE play. spread your units thin and shoot for 56 %  set goals and little by little you will start stacking chips. its a grind and its not for everyone. there actually are some pretty good services you could pick up and tail until you become a veteran at this raquette
 
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Posted: #38
it's your lucky day forget it brother your talking to a wise guy you have a better chance of becoming a rock star, I have been gambling for over   + 40 year's and there is about 12 or 24 gambler's then can do this in the world it's 100 percent fact I know a few of them and if I said there name's you would no right away, but gambling as a pro it's been 31 year's get out right away because if you don't you will lose everything brother believe me I know what i'm saying if your young go to school because it's not worth it because your health become's very bad you get old very fast you will lose your home your wife your kid's i'm just trying to help I really hope you listen
Dilaudid8
 
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Posted: #39
It can be done. However, prepare to forfeit your personal life. Professional sports betting sucks. High stress, unpredictable returns, living within the parameters of stress and fear (so much for realizing homeostasis). You're never truly at peace, because you're always worried about the outcome of your next bet.

Easiest way to be a successful pro... Lower your yearly living expenses, maximize your bankroll ($10,000 or more), lay your bets in increments of $100, NO PARLAYS, cash out your winnings on a weekly basis, and bank your winnings (minus living expenses) for a rainy day. There will be rainy days.

With time, your bankroll will grow. In turn, your income will grow, but your can't force it. Stick to the routine. Variation in successful betting habits will most likely trigger losing streaks. If you want to test a system, test it without real money on the line.

Good Luck.




 
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Posted: #40
One last thing... If you can master this... You can master anything... The levels of mental strength needed to be a successful professional sports bettor are virtually unmatched in the real world. Mathematically speaking, you'd have a better chance surviving close combat conditions in a war torn country.

Once again... Good Luck.


 
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Posted: #41
Quote Originally Posted by Money2theBank:



To the OP: Read the bold portion again. Best advice you can get.

No doubt
 
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Posted: #42
Quote Originally Posted by jebe99:


You could, but the casinos aren't worth the trouble anymore, with all the legwork and line shopping in person.
Only casino that still took big bets from pros was Barbary Coast, only because it was managed by last of the old school guy. Forget his name, it's been years, he was short old Italian guy.
All the other casino books are now run by bean counters who are their to just keep their jobs. 

I hated living in Vegas. Thank god for the offshores.
Now, if I can only figure out a way to get a Pinny account.....
Any suggestions?     
where do  u live now?can u mention some offshore books which r good now?
 
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Posted: #43
@jebe
Going to require, in ascending order of difficulty, an overseas vacation in a land serviced & supported by the sportsbook desired; an overseas and trustworthy friend residing in a supported country; a proxy connection which will hide your originating IP address, i.e., your true current location.  
 
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Posted: #44

You will learn the hard way.... or I should say you should have learved already.  Maybe you won't learn?

 
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Posted: #45
Quote Originally Posted by stackedpack:

Probably around 5% or less who try to do this for a living succeed long term, and all of that 5% at one point or another busted their bankroll several times over before they got it right. Even if you get it right, it's hard to stay on track.

The biggest enemy isn't the sportsbook, nor the difficulty of picking more winners than losers, the biggest enemy is yourself.

The fear, emotion, and anger that comes with the daily grind will eat you alive if you can't control yourself. You can be talented at picking winners just like Josh Hamilton is as talented at baseball, but if you have a vice you can't control, you will destroy yourself.

You have to be better than smart. Most of the people who can succeed at this, probably would succeed at anything they try to do. Most of the people here are advising you not to do it, don't take it as negative, they are trying to do you a favor.

Its starts and ends with money management.  Start with the maximum you can afford to lose that won't affect your daily living nor affect you psychologically but enough money to keep you honest. If you can only afford $10 bets so be it. If you can't afford to lose anything DO NOT BET. You can still handicap and learn for free.

Scared money doesn't win. Secure your finances first and you'll sleep better at night when the losing streaks hit.

Good luck!



 
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Posted: #46
[Quote: Originally Posted by jebe99]

I knew 2 guys in Vegas who lived off betting sports. They were really good. However, they were getting collared like crazy by the casinos.

 It took me about 4 years of trial and error to finally start winning, but that's when they started collaring me. Now I only bet with offshore books. Vegas don't want any winners.

It is possible to live off betting sports, but it takes a loooong time and a whole lot of donations to sportsbooks to learn the trade.

[/Quote

isnt that that the truth...1 thing you defInetly need is EXPERIENCE
 
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Posted: #47
I thought Cantor was taking big bets and sharps as well???

I knew 2 guys in Vegas who lived off betting sports. They were really good. However, they were getting collared like crazy by the casinos.

 It took me about 4 years of trial and error to finally start winning, but that's when they started collaring me. Now I only bet with offshore books. Vegas don't want any winners.

It is possible to live off betting sports, but it takes a loooong time and a whole lot of donations to sportsbooks to learn the trade.

[/Quote

isnt that that the truth...1 thing you defInetly need is EXPERIENCE
[/Quote]
 
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Posted: #48
Quote Originally Posted by Wizerguy:

Quote Originally Posted by jebe99:

I knew 2 guys in Vegas who lived off betting sports. They were really good. However, they were getting collared like crazy by the casinos.

 It took me about 4 years of trial and error to finally start winning, but that's when they started collaring me. Now I only bet with offshore books. Vegas don't want any winners.

It is possible to live off betting sports, but it takes a loooong time and a whole lot of donations to sportsbooks to learn the trade.

[/Quote

isnt that that the truth...1 thing you defInetly need is EXPERIENCE

I though Cantor was taking big bets and not scared of action?
 
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Posted: #49
You'll  make it.  Here is the secret.  Don't run out of money.
 
 
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Posted: #50
Quote Originally Posted by Mkuhi:

The best way to view gambling is as a part time job.  Yeh going to work sucks, but doing nothign all day sucks just as much.  

What he said is that he would rather be a part time gambler than a full time one.  

Gambling is so friggen stressful 

I tried to be a "professional poker player" and just realized I hated the lifestyle. 

My dream now is to have a real job 



Probably the most insightful posts you will ever read on Covers. 

This guy gets it. Anyone who has 'dreams' of living the gamblers life has never tried. The grinding, bad beats, long hours, variance, bankroll swings, luck and generally feeling like a scumbag take its toll on you.

Also, if gambling is your "job," you will have to face all the challenges I listed above, and did I mention you will have to go through all this and there will be many days when you go to ''work'' and LOSE MONEY.
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