The Best Tips on How to Make Money Gambling
Are you ready to clock in at the casino?
If you’re thinking about becoming a professional gambler, there’s no better role model than Phil Ivey. At a young age, Phil realized he could make money gambling, and once he started he never looked back.
After starting his career as a professional poker player, Phil Ivey has won 10 world series of Poker bracelets and 1 World Poker Tour title. During the 2009 World Series of Poker, he walked away from the poker table with winnings that totaled $6.34 million. By 2017, he was even nominated for the Poker Hall of Fame.
The best part of this story is that Phil isn’t a once in a lifetime situation. The world is full of famous gamblers like Amarillo Slim, Archie Karas or Billy Walters. People who are making a living just by playing the games they love.
Yet, how do you make the jump from playing a game, to earning an income? Read on to learn the best tips for being a professional gambler.
Ways to Make Money Gambling
Before you can start raking in the big wins, you’ll first need to perfect your playing style. To do this, take a moment to decide what you want your gambling specialty to be. Instead of spreading yourself thin, dabbling in different types of gambling, pick one outlet you’ll focus all of your attention on.
Here are a few different gambling outlets to consider:
- Casino games
- Card games
Once you choose your preferred gambling outlet, you’re ready to start doing some research. It’s your job to become an expert in your chosen outlet, learning all of the rules, strategies, and playing styles.
After you’ve read all you can read about the game, you’ll need to start gaining some firsthand experience. It’s only through playing and betting a first hand that you can begin to build your logical system.
Create a Logical System
It doesn’t matter what gambling outlet you’ve chosen, you can always create a logical system. A logical system is a way for you to figure out exactly what you need as a player to win consistently, time and time again.
Here are the steps to build a logical system for winning consistently:
- Know the odds
- Record your wins and losses
- Practice often
Will you be playing a game based on probability, like roulette? Or do you prefer games that involve critical thinking, and deception, like poker? Whatever your personal choice of gameplay is, your personal system will be how you push the odds in your favor.
Know the Odds
Your system could include a variety of strategies for different types of occasions. Yet, it won’t matter how many strategies you have planned if you don’t first understand what’s at stake.
Make sure you fully understand the odds of whatever game your playing, and each type of wager you can place. Don’t be afraid to ask questions to staff members, especially at casinos.
If you’re using a casino online, take a moment to search for your answer online. Do whatever it takes to fully understand the odds of the game. Even if it means having to step away from playing for a moment.
Record Wins and Losses
Every time you place a bet, or play a hand, write down what happens. Over time you’ll be able to track your progress to determine what works and what doesn’t.
After enough time passes you’ll start noticing winning trends. Small observations about winning trends can be valuable clues about how to polish your game.
When it comes to gambling it doesn’t matter if you win or lose, as long as you’re getting in the practice time. Since gambling will always rely on an element of luck and chance, the experience is more valuable than how many times you’ve won.
Gambling Games to Play and Avoid
Whenever you’re in a casino, you can be certain that the house will always have the advantage. There isn’t a single game, no matter what type it is, that doesn’t push the odds in the favor of the house. While you can’t avoid playing a game that gives the house a slight edge, you can steer clear from the games that drastically disadvantage the player.
Here are the gambling games professionals avoid:
- Lottery style games
- Three card poker
- Texas Shootout
- Texas Holdem
- Caribbean Stud
The games above are similar to carnival games, whereas they’re meant for fun, not winning big. For example, lottery-style games like Keno, are exciting and fast-paced.
Yet the player rarely wins at carnival-type games. You’d be better off switching to a slower-paced game of bingo, where the odds of winning are more evenly distributed.
Truth About Slot Machines
If you want to make money gambling, avoid the slot machines entirely. While slot machines are fun, their programming is set to take a fixed amount of money from players over a set period. Plus, slot machines don’t allow you to influence your wins and losses because there’s no decision making involved.
Try Video Poker
If you love being on the slot machines, try hopping over to a video poker machine instead. You’ll still get the same solo playing experience, yet your odds of winning will greatly increase. Since poker involves critical thinking skills, you won’t have to be entirely at the mercy of the machine for your winnings.
How To Win at Bingo
Are you ready to make money gambling, playing bingo? While many people don’t think of bingo as a gambling game, it most certainly is.
If you want to up your bingo game, you should start by purchasing several bingo cards. The more cards you have the higher your chances of winning will be.
Next, try to get a seat as close to the caller as possible. Sitting close to the bingo caller makes easier to have your bingo heard first, while also making it less likely that you’ll miss the chance to mark a number. Finally, to win at bingo you have to learn to concentrate for a long period.
Being able to concentrate is a skill that will help you in any gambling outlet. Whether you’re playing casino games or betting on sports, your ability to concentrate can make or break the bank.
Not sure you have the attention span you’ll need to be a professional gambler? For the best tips on how to improve your concentration, go ahead and check out our health and fitness section today!