How To Get Rich Gambling

In short: Keep as much money as possible from free bets. Matched betting is the. Start a Brick-and-Mortar Casino The best way to make money gambling is to make money off other people gambling. Casinos reap in heaps of cash via gamblers, food, drinks, entertainment and hotel rooms. The gambling industry has taken a bit of a hit during the.

What’s the difference between rich gamblers and poor gamblers?

And what’s the difference between people who build wealth when they’re gambling and people who get poorer while gambling?

This post looks at that difference so you can decide which category you fall into.

It’s Hard to Get Rich Gambling

I used to own a bookstore, and I like to tell people the secret to winding up with a small fortune after owning a bookstore for five years:

Start with a larger fortune.

The same humor applies toward most gamblers and most gambling.

If you’re the average recreational gambler, you’re going to lose money over time. That’s just how it works, regardless of whether you’re a casino gambler, a poker player, a sports bettor, or all three.

But even if you’re that rarest of breeds – an advantage gambler – it’s easy to go broke as a gambler.

The experts gave Donald Trump only a 30% probability of winning the 2016 presidential election, but if you bet on Hillary Clinton, you saw what a run of bad luck really means.

The same holds true for any sporting event you can think of. There’s an upset every Sunday.

If your bankroll is small, you stand the risk of going broke even if the odds are in your favor all the time. It just takes a short string of bad luck to lose all your money.

That’s why it’s easier for rich people to get ahead as advantage gamblers – they have enough money to avoid going broke before their long-term mathematical advantage kicks in.

Rich Gamblers Get Different Treatment From the Casinos

If you want an eye-opening account of what it’s like to be a rich gambler in a casino, check out a book called Whale Hunt in the Desert: The Secret Las Vegas Of Superhost Steve Cyr by Deke Castleman.

It’s the story of Steve Cyr, the most revered casino host in Las Vegas. As a casino host, he caters to the biggest whales – the richest gamblers. You’ll be amazed at the kind of treatment big gamblers get at the casino compared to the rank and file working class gamblers like you and I get.

Unlike many of the books I recommend, Whale Hunt in the Desert doesn’t offer you any kinds of tips to make you a better gambler who wins more often. It’s just a look into the side of the business that makes literally almost anything available to casino gamblers who are willing to bet life-changing sums of money on a single hand of blackjack or a single roll of the dice in craps.

It Is Possible to Get Rich Gambling

You can get rich gambling in different ways. The easiest but least likely way is to get really lucky and win the lottery or hit a progressive jackpot. The problem with that approach is that you’re more likely to get struck by lightning than you are to win the lottery or a progressive jackpot. Most people who play regularly their entire lives just lose the money they’re wagering on such games.

Most professional gamblers might as well be actuaries or accountants for all the excitement they get out of their chosen profession.

And I have some friends I’m close with who are accountants. Lively, exciting people they are not.

How to Get Rich Counting Cards in Blackjack

One of the only casino games where you can get an edge over the casino is blackjack.

But it’s not enough to just play every hand correctly. That’s a good first step, but you need more than just the mathematically best way to play every hand in every situation.

That’s called being a “basic strategy” player, and it minimizes the house edge.

But it doesn’t eliminate the house edge or put the math in your favor.

To get a mathematical edge at blackjack, you need some kind of advantage play technique. The most common way to get an edge at blackjack is to learn how to count cards.

That adds up.

The more you’re able to wager per hand, the faster you can make your fortune in blackjack by counting cards.

But you need a big enough bankroll that you can avoid going broke because of a streak of bad luck before your edge kicks in.

You can learn to count cards from any number of books on the subject. Look for something by Sanford Wong or Arnold Snyder. It’s easier than you think, and no, you don’t need to memorize an entire deck of cards. (Even that’s easier than most people think. It just requires some focus and attention.)

How to Get Rich by Becoming an Expert Poker Player

Most real money poker players wildly overestimate how good they are at playing. If you truly want to get rich playing poker, you need to start by keeping careful records of how much you’re winning and/or losing in the long run.

I read somewhere that you know you’re a serious poker player when you start keeping written records. That’s easy. Just by a spiral notebook, write down what you started with at the beginning of each session, how long you played, and how much you wound up with. You can subtract one from the other to find out how much you won or lost.

And you can divide the amount of time you spent at the table by your loss or your win and calculate your win or loss rate per hour.

In the short run, this won’t accurately reflect how good you are at poker.

But as you gain data, you’ll start to see a long-term pattern for how much you’re winning or losing per hour.

There’s more to playing winning poker than just keeping records, though.

That’s critical, but there’s a lot more to learn.

You should constantly be reading books about how to improve and watching videos. You might consider investing in some coaching or mentoring, too.

95% of the player at the table are losing money in the long run.

If you want to be profitable – if you want to be in the top 5% — you’re going to have to put in the effort.

How to Get Rich as a Sports Bettor

I suspect that the 95% to 5% ratio of losing sports bettors to winning sports bettors is also accurate. I’m not as sure about that number as I am the poker number, but I am convinced that most sports bettors are losing money in the long run.

How do you turn that around and become a winning sports bettor?

If you have the discipline to only take those bets you think are mathematically in your favor, you’re well on your way to profitability already.

The other trick is to come up with some strategies and systems for choosing winners that will overcome the book’s vig. You need to win 52.4% of your bets just to break even because of the vig.

51% won’t cut it.

You’re still losing money at that rate.

Getting Into the Biz

Of course, the surest way to get rich as a gambler is to own the casino. You don’t have to worry much about the odds being in your favor when you own the casino because that’s how the games are designed.

Owning a big Las Vegas casino is beyond the means of most people, though. But even if you only own a gas station or a neighborhood bar, casino style gambling is something you can offer.

Just be wary of the gambling regulations where you live.

I’m in Texas, and every bar and convenience store in the state has slot machines, but none of them are operating entirely legally. They seem to get away with it, but it will be a drag when that ends.

Other states are probably more draconian in their enforcement of gambling regulations.

This doesn’t mean you can’t get rich from the gambling business unless you own your own business.

You can also go to work in a casino in various capacities and get rich the old-fashioned way – keep your expenses below your income and save the difference.

After that, the power of compound interest will make you rich.

You just have to wait.

Conclusion

If you want to be a rich gambler, it helps to start off being wealthy in the first place.

If you want to make your fortune gambling, blackjack, poker, or sports betting is the way to go.

But 95% of the gamblers who play those games lose money.

Gambling isn’t an easy or sure route to riches, but it can be a lot of fun.

Have you ever dreamed about getting rich gambling? Some gamblers are able to do it, so why not you? What could be better than taking a risk and having it pay off in a big way?

Gamblers have been trying to get rich for years. Some of them have been able to do it by getting lucky and hitting a big progressive jackpot or a big lottery. But others have been able to amass riches by a more practical and straightforward method.

I’ve put together seven ways you can get rich gambling with real money below. Some of them are easy, just requiring a small bet and a great deal of luck. But some of them are within your reach, if you’re willing to do the work and put in the time.

1 – Win a Big Poker Tournament

Just about every poker player knows the winner of the WSOP main event takes home millions every year. But did you know there are hundreds of poker tournaments that pay out over $100,000 played every year?

You don’t have to win the WSOP main event to win a big score. But even if you only look at the biggest poker tournament in the world, your odds of winning are still much better than you get with things like one of the big lottery drawings.

2 – Grind It out as a Blackjack Card Counter

This one isn’t glamorous like some of the other ways to get rich gambling on this list, but it’s one of the things that offers a realistic opportunity for anyone with the skill and desire to make some serious money.

When you buy a lottery ticket, you have the chance to win a huge prize, but the odds are strongly stacked against you. If you learn how to count cards, you can methodically make money.

But there’s one thing you need to understand, and it’s in the title of this section. Getting rich by blackjack card counting is a grind. You have to play as much as you can, you have to keep your mind in top shape, and you’re always doing your best not to get caught.

Even if the money is good, the grind can wear you down. On the plus side, you don’t have to be a genius to learn how to count cards, and like I mentioned above, it gives you a realistic opportunity to make money gambling. Anyone with average intelligence and the desire to master it can become a winning card counter.

3 – Hit a Progressive Jackpot

Most large progressive jackpots are available on slot machines, but some other games have them also. The problem with slot machines is they have a high house edge. The odds of hitting a progressive jackpot are also highly against you, but they’re not worse than hitting the lottery.

One thing you need to watch for is many of the slot machines with big progressives require a large bet per spin to be eligible for the top prize. If you’re betting $2 or $2.50 per spin, it doesn’t take long to burn through your bankroll.

4 – Win a Big Lottery

If you’re like me and most other people, you’ve probably spent some time thinking about what you’d do if you hit a big lottery prize. After all, most of us have never had a million to spend, much less 10 or 100 million. And the cost of a ticket is only $2 or $3.

I don’t know of any other bet you can make that offers the chance at such a high return for a small investment. This is one of the reasons why the lottery is so popular, and I’m all for taking a small risk for a big reward.

The odds of you hitting a big lottery, even if you play every day your entire life, are very small. It’s not really a realistic chance, but someone is going to win, so I don’t blame you for buying a ticket. If you want a better chance at riches, read one of the two sections on this page about grinding out your fortune.

5 – Poker Grinding

It’s not as flashy as it looks on television, but many poker players are able to grind out a good living at the tables. They play hour after hour, making $20 to $30 or even $50 an hour.

The first thing you need to do is learn how to win on a consistent basis. This isn’t easy, but it’s possible with enough study and practice. Once you learn how to win, the next key is to find the most profitable games and play in them as much as possible.

It might become less profitable because the players change or because you start getting tired and start making mistakes. But if you’re killing the game, you need to ride it until you can’t do it anymore.

Just like grinding out a living as a card counter, making good money as a poker player is a grind. It quickly changes from a fun game to something much like a job. This is acceptable to some players, but it makes many players quit playing. Only you can decide if this is a good option for you, but be aware that it can turn a game you love into one you dread.

6 – Sports Gambling

Sports gambling is a tough business to get rich in, but a few players are able to do it. I cover it more in the next section, but one way to use sports betting to take a shot at fast riches is by trying to win multiple bets in a row while rolling your profits into the next bet. Another way to try for quick money is by betting a multi-team parlay ticket.

Most sports bettors who try to roll their profits, or win a big parlay, usually fail. The sports bettors who make money are the ones that grind out wins over time, like some poker players and blackjack card counters.

Most successful sports bettors develop their own systems or models and use them to find games and lines that might be profitable. Then, they combine their models and systems with study of the players and teams involved, and find profitable betting situations.

The biggest problem sports bettors run into while trying to get rich, even when they figure out how to win more than they lose, is getting a large enough amount of money in action to win big. It’s easy to get large bets down on big games like the Super Bowl, but how do you get $50,000 or $100,000 down on a small conference game in the middle of the season?

If you want to try for fast riches sports betting, pick a multi-team parlay and take your chances. The odds are better than the lottery, but the rewards are smaller, too.

7 – Let It Ride

I’m not talking about the popular table game Let It Ride here. Instead, I’m talking about making a bet and betting the total amount again when you win. When you win a bet and place the original wager, then win back into action, it’s often called “let it ride.”

Many times, these types of bets are made on even money wagers, like red or odd at the roulette wheel. But this requires a long series of wins to add up to a large amount. The same concept is in use in sports betting using multiple game parlay bets.

But let’s look at the numbers using an example with a much higher pay out than even money.

If you place a $100 wager on a single number on roulette, you get your original wager back and a win of $3,500 when you win. If you let the $3,600 ride and hit a single number again, you suddenly have $126,000 plus your bet of $3,600.

The odds are heavily stacked against you, but not as much as they’re stacked against you in the lottery. If you’re playing on a single zero wheel, you have a 1 in 37 chance of hitting any single number. The odds of hitting a single number two times in a row are 1 in 1,369. This translates to .0007304602, or if you convert it to a percentage, it’s .073%.

You can use the “let it ride” strategy in many different situations. At the dog or horse track, you can bet on a long shot, then let your win ride on another long shot to try for a big win.

How To Get Rich Gambling Real Money

Conclusion

If you want to get rich gambling, you can either try to develop the skills you need then grind out profits over time, or you can rely on luck of the draw and try for a huge win on very long odds. The grinding method offers a more realistic path, but it takes a great deal of work.

How To Become Rich Through Gambling

Even if you aren’t willing to be a grinder, you can still take a shot from time to time at a big poker tournament, the lottery, or by letting your profits ride.