Making a Living from Online Gambling

According to reports on different studies on gambling behavior, there are 1.6 billion people gambling globally. Only a small percentage claim to make a living from it.

Hey there, fellow gamblers! Today’s subject will keep you on the edge of your seat.

So, is it really possible to crack the code and make a living from online gambling? In this article, I’ll show you some success stories and reveal common myths about earning money from gambling. What does it take? What are the risks involved? And real-life examples.

Let’s get to it!

How to Make a Living from Online Gambling

The dream of earning money from playing your favorite casino games surely attracts many people, but not all succeed or understand how it has to be done. I get it – the freedom of working on your own, quick money, and the excitement of the games, but is it really possible to make a living from this?

I’ll start with the balance between skill and luck. So, if you’re planning on making gambling your job, you should focus on skill-based games like poker or blackjack. By improving your skills, you ensure long-term success. Do you know what is the most essential skill? Bankroll management. Even professional gamblers face long losing streaks, and keeping it under control is a must.

Don’t rush to romanticize the idea of playing all day and winning big. Gambling full-time is mostly about time and effort. Those successful professional gamblers spend hours, if not days, studying games and practicing strategies. In addition, there is the emotional part, which you have to manage. Have you thought about the pressure of losing and winning money regularly? Luck is still an essential factor.

So, what does it really take to make a living from online gambling? Here are a few factors worth your attention:

Skill and Strategy. Invest time in learning and practicing to reduce the house edge, such as using basic strategy and card counting in blackjack.

Bankroll Management. You should have a wise approach to money. Set aside a dedicated amount for gambling, and never wager more than you can afford. Professional gamblers often use the 1% rule – never betting more than 1% of their budget on a single play.

Narrowing Focus. If you really want to succeed, you should specialize in one game and become a true expert. Professional players pick one and stick to it.

Discipline. Really? You may think. Well, being calm and making wise decisions isn’t that easy with all the pressure from real money gambling. Even if you win or lose, maintaining emotional control is key.

Time Investment. It’s not just the hours you play but also the time you study, improve, and analyze.

Variance Management. All professional gamblers face variance – a period when they lose even when making the right decisions. Emotional and financial resilience is paramount.

Legal Considerations. It’s not like you’re playing, making money, and everything is fine. Professional gamblers stay within the legal framework of their country. This means paying taxes if gambling is your main source of income, but it depends on the country.

Success Stories: Too Good to Be True?

Here are some of the most successful stories of those who broke the code and made online gambling their full-time job.

Chris Moorman: The Poker Millionaire

One of the most successful poker players in history started with casual playing. Discipline and a sharp understanding of strategy earned him more than $15 million later from online poker tournaments.

Niklas Astedt: The Poker Mastermind

Unlike other popularized players, he is a quiet professional who focuses on the game and always stays ahead of poker strategy trends, avoiding the spotlight. His discipline, mastery of the game, and patience made him earn over $22 million in poker tournaments.

Charlie Carrel: From $15 to $3 Million

Another success story of playing poker. Carrel started with a small deposit of $15 and turned it into $3 million. An analytical mind and calmness helped him climb the online poker ranks. He also won multiple high-stakes live poker tournaments, showing that starting with a small deposit doesn’t mean you won’t succeed.

Alok Bansal: The Indian Poker Pro

While poker is new in India, Alok managed to earn millions from online poker tournaments. He shows that you can make a living from online gambling even in regions where the industry is not developed. He even encouraged a new generation of players from India.

Myths About Online Gambling

Here are a few common misconceptions about making a living from online gambling that trap new professional players.

It’s easy to earn from online gambling. That’s probably the most popular myth. It doesn’t only take a few good bets but also discipline, skill, and strategy.

Casinos are always in the win. I have to say, it is true. But you can still make an income out of gambling. The rule is to play at regulated casinos, and professional gamblers know this.

Follow a system to always win. Such systems like the Martingale or others are not a guarantee of consistent success. Professional gamblers rely on smart betting and bankroll management.

You need a big budget to make a living. Even the success stories show that you don’t need much to make your first deposit and turn it into millions through discipline and strategy.

Online gambling is a reliable source of income. Even the most successful professional players know this is not true. There is always a risk, and strong bankroll management is one of the key rules.

Now, back to the question: Is it really possible to make a living from online gambling?

Yes, it is, and the success stories are proof of it. And it’s not about the money you start with but the skill, time, and effort you put into improving your strategy. Professional players have a really strong hold on their emotions and know how to manage losing streaks without giving up. After all, discipline is key.

There is no code to break; there is work. So, are you ready to get into business and make a living from gambling?