What is a professional gambler?
Professional gambling isn’t just about driving fast cars and sipping on expensive alcoholic beverages such as vodka martinis. No, a pro gambler will be someone who is accustomed to hustling when it comes to playing casino games and wagering on them.
Aside from casino games, a professional gambler might be finely attuned to sports betting, and betting on their favorite sports team to accrue huge sums of money.
They will have strong analytical skills as well as be good when it comes to money management. A professional gambler will view their work as a job or a business, and they will do everything they can to ensure they are a success in the long run.
Although you can make a living out of gambling, it is very much a solitary activity, and being a professional punter comes with its ups and downs, which we will reveal in more depth later in this guide.
How do professional gamblers make money?
A professional gambler will be dedicated to his or her craft, and although Las Vegas has a propensity of accentuating the lifestyle of a pro gambler, there is no point sugarcoating that it takes hard work and a lot of work for professional bettors to reach the top of their game in the gambling industry.
First and foremost, those who like to indulge in sports betting may well take advantage of the best odds. So, if they were betting on football, and on a particular game, they wouldn’t just wager on the moneyline. They may choose to plump for the Correct Score or Anytime Goalscorer, as the odds might be longer in that section, and they can scoop bigger winnings.
Or if we were to use horse racing as an example, they might choose a particular horse race, and place a trifecta style of bet. The premise of this is you would bet on a horse to finish first, second, or third in a race, and they must finish in that exact order. This would be paid out at long odds, however, if successful, they would take a lot of money from the bookmakers.
Although there will be a lot of luck along the way, gamblers will be well placed to find lines that have value betting, which will give them the edge over bookies. For some, gambling is a full time job, and if they do well, then it can cover their living expenses such as bills and utilities, and also provide them with betting opportunities down the line such as being able to take their trade across the world and compete in tournaments.
The Types Of Professional Gambler
A pro gambler isn’t pigeonholed, but they will be those who are hugely competitive and take their job very seriously. Let’s review them below.
Sports bettors – They will be placing bets all the time on all kinds of games week in and week out. Some of these will entail accumulators, where all legs of a bet on a single betting slip will need to win for a wager to be returned as a successful wager, and they can pay out at long odds. Invariably, there will be a football club that concedes a last-minute goal that can inevitably ruin a slip.
Matched bettors – Sports betting sites and casinos will have offers all the time, predominantly welcome bonuses with the idea behind them to grab your attention and convince you to register an account. Those who have chosen to have a gambling career will take advantage of free spins or free bets offers without having to risk their own capital. However, eventually, you will have to play at one site, and some will have bigger wagering requirements, so it will take longer to claim winnings.
Arb bettors – Short for arbitage betting, these professional bettors will use statistical models and mathematical aptitude to ascertain the difference in odds offered by a bookmaker. By capitalising on finer margins, it is possible to back and lay on the same sporting event and make plenty of cash in the long run.
The card counter – In traditional casino games such as blackjack and poker, there will be those gamblers that will know the order in which cards are dealt and played. While not illegal as a gambling technique, a casino will take a dim view of it and you could be booted out of the game.
Sports trader – For sports betting, you will use the same techniques and strategies that hedge funds and investment banks will utilise to predict how the stock market will perform. There are sports betting exchanges out there, and trades will give you strategies to buy and sell these bets. You just have to be aware of the risk involved.
4 Steps to become a professional gambler
To become a professional gambler, there is no fast route to being successful, and you will need to bankroll your lifestyle properly. However, there are a few things to take into consideration before you decide to take this course of action.
Make sure this is something you want to do
If you are serious about making gambling your day job, make sure this is something you want to do. Gambling comes with lots of highs and lows, especially when you lose, so professional gambling isn’t something that should be undertaken lightly. You won’t have an hourly wage like regular full-time workers, and there will be more pressure to strike lucky right from the get go.
Pick your preferred game to gamble on
Gambling comes in many forms, which include casino games as well as wagering on sports. Within this, no matter what you wish to bet on, the key will be to play wisely. Some times, you will have a winning streak, and at other times, you will lose, so you need to be persistent and not get too disheartened quickly.
Have realistic expectations
Some professional gamblers may expect instant success, but don’t quit if things don’t go your way. If you have the discernible skills, then the rest should fall into place. And when it comes to making a living, it’s just as easy to lose playing say blackjack as it is to make money winning playing other games.
Collect reading material
There is a bounty of reading resources out there for those who are keen on gambling professionally. You can see how poker players made their millions, and you can also pick up some useful nuggets of information if you read widely about the types of games you wish to play. After all, if you treat it like a job, then you need to be knowledgeable, and not just rely on luck to make cash.
Pros And Cons Of Being A Professional Gambler
Professional gambling isn’t easy, but there are some advantages associated with it that are worth discussing.
Advantages
Can be satisfying to beat the bookmakers
You can enhance your gambling skills and reputation if you can beat the bookmakers. While it might not happen regularly, the gamblers who will thrive will be the ones who can make a smart bet will be able to pocket a huge win, which can often reflect badly on the gambling industry.
Will feel like a hobby
Those who enjoy gambling professionally won’t perceive what they do as a job. They will be able to enjoy the fruits of labour, and have the life they feel that they deserve.
Disadvantages
Can be a costly habit
While many professional gamblers can make a lot of money, those who exercise poor money management skills can find themselves in the red and racking up huge debts if they aren’t careful.
Extremely time consuming
While gambling might be a fun pastime for some, if you are making bets on a professional basis, then it can be quite time consuming. You will need to constantly update your research and knowledge to stay ahead of the game. This over time may be seen as a chore for those who choose to make a living from gambling.
Professional gambler strategies
Below are a couple of useful strategies that will help those hone their gambling skills.
Have a specialty
When playing games, you should try and stick to one sport or particular casino title, and create a niche for yourself. A good example would be NFL betting and taking on the point spread or trying the Total Over/Under section as you can collect bigger wins if you are successful.
Always look for value
When betting, don’t always back the favourite. Sometimes, it can pay off to back a team with a longer price, because they might defy expectations and you can end up winning more than you first thought.
Professional gambler tips
Being a professional gambler may sound inherently more exciting than your current job, but we have a few useful tips that will stand you in good stead.
Record everything
The most meticulous gamblers will be great when it comes to record keeping. They will use any free time they have in between bets to keep a running written or printed record of all wagers and how they performed. They will be able to determine what went right and wrong. And if something went wrong, they would be able to tweak things accordingly.
Don’t be overambitious
While it can be tempting to bet on anything and everything, start small before expanding your horizons. So, if you are betting at an online sportsbook, start with the moneyline before venturing out and placing more complicated bets.
Common mistakes that novice professional gamblers make
Gambling is big business, and online operators are always happy to profit from those bettors that are perhaps more naive. Here are some common mistakes that beginner bettors will make.
Chasing losses – If they lose, some players can naturally berate themselves and in a bid to try and win, they stake more money, and things spiral out of control. They should stop playing or take a break if they are on a slippery slope.
Betting on every market – It can be tempting to push the boat and spread wagers across a multitude of markets. However, a novice gambler may do so without understanding how the market works, and they end up in trouble.
Overlooking terms and conditions – The T&Cs are there for a reason, and they are designed to ensure you make the most of your time betting at say an online casino. For example, some novice bettors may be disqualified from a welcome bonus for trying to use a payment method that isn’t accepted for making deposits and withdrawals on their preferred slots.
What kind of skills does a professional gambler need to have?
A professional gambler will boast plenty of skills, and we have outlined the skills we deem to be the most important below:
Analytical skills
A gambler will always take into account and crunch the numbers before placing a bet. They will be well equipped to seek value, and they will also know when to push and make an aggressive bet or take a rest and reset if needs be.
Emotional intelligence
Emotions are key when it comes to gambling. Sometimes, it can be easy to neglect emotions, however, those with emotional intelligence will refrain from getting angry if things don’t go their way, and on the flip side, won’t get too excited if they embark on a winning streak. Ego and emotions should be parked up before beginning a betting session.
Financial know-how
To bankroll your gambling career, players will know what to expect, so they don’t get in too deep. They will have worked out exactly how they can make living, devise a budget, as well as how to make their job as rewarding as possible.
How looks the life of a professional gambler?
The schedule of a professional gambler is very unpredictable as it can change from one day to another. You may drift from one online casino to another trying to find deals on poker games, or for those that have reached the top of their game, they will be jetting the globe taking part in the biggest competitions. While it is not as always lucrative as it is portrayed, some have enhanced their reputations through gambling.
What are the risks of being a professional gambler?
Gambling like some other professions carries a great deal of risk. Perhaps the biggest of them, is that you run out of luck and haemorrhage lots of money if you don’t bankroll your playing properly.
You also could alienate your friends if you borrow sums of money to feed your gambling lifestyle, and you can’t afford to pay them back.
Try your skills at EnergyCasino
Becoming a professional gambler isn’t something that will necessarily appeal to everyone, and you have to possess the right mindset if you want to make a proper living out of it. While it is not impossible to become a professional gambler, you need more than just luck, and you need to be dedicated to your craft.
If you want to test yourself, then join EnergyCasino today. This online casino is packed with many of the best games around, and aside from winning money, you will also have a lot of fun in the process.
⭐ Is it possible to become a professional gambler without any prior experience?
Yes, you don't require a professional license or need to pass a test to have a career in gambling, however, you must accept the risks that come with it.
⭐ Do professional gamblers work alone or in teams?
Generally, professional gamblers will work alone and gambling is an individual pursuit. They will play games by themselves and they will be single-minded in their pursuit of success.
⭐ How do professional gamblers handle losses and setbacks?
Professional gamblers need tough skin to deal with losses and setbacks. Although you can make a living from it, those that are resilient and can bounce back from adversity will be able to draw a huge amount of confidence when things went against them.
⭐ How do professional gamblers network and learn from each other?
Networking should be an educational process, and you shouldn't overpromise and under deliver. Aside from conventions, there are plenty of educational resources for those who wish to make a career from gambling can benefit from.
⭐ What are some alternative career paths for former professional gamblers?
For those who are looking to leave the gambling scene, there are plenty of viable career options, which include but isn't limited to: freelance writer, accountant, salesperson, or stockbroker. This could be the case for say a poker player who will have plenty of transferrable skills.