How To Earn A Living Gambling Online
Online gaming is praised around the world for its convenience. As of now, gaming enthusiasts can enjoy gambling online from anywhere through a tablet or smartphone.
Now, consider how incredible it can be to earn a living through this fascinating form of gaming. Essentially, some players have the ability and skills to make good money from online gambling.
The most important part of this understanding revolves around selecting the most profitable forms of gambling. This is because they are some forms of gaming that offer them a better chance of winning than others.
How do you become a professional gambler and make more money? The following are some forms of online gaming that can earn you big profits.
If you really want to earn a living to gamble online, you must have a bankroll. Technically, all types of gambling have their ups and downs. As a result, there is nothing you can do to ensure you will win all the wagers you place.
A bankroll is money you are willing to spend at the online casino. You won’t win any money if you are not willing to take any risks.
The most important thing is to ensure you have enough funds in your account balance so that you can survive both the losing and winning streaks. One of the most common mistakes made by new gamblers is not having enough money in their bankroll.
You should have enough money to live on, as you try out your luck at the casino and eventually start making a good profit from it.
For example, if you make $100,000, you should take at least $2,000 from your bankroll weekly. This means you should have a big bankroll to make wagers that are large enough to allow you to beat the house in the long term.
The amount of money you should have in your bankroll depends on the variance in the form of gambling you choose. Some of the most profitable forms of gambling that you can make a living from include sports betting, poker, and blackjack.
While the required bankroll varies, you can learn more about bankroll management.
Sports betting in the form of gambling where you place real money bets on the outcome of sporting events. Moneyline is the most common type of bet concerning sporting events. Moneyline is a straight-up bet on the team that will win the match.
- Seattle Seahawks +155
- San Francisco – 185
As you can see in the example above, the odds attached to the wagers are not even. A bettor stands a chance of winning $100 for every $185 bet on San Francisco. On the other hand, a bettor will make $155 for each $100 they wager on San Francisco.
It is the uneven odds that give bookies a profit margin, also known as the Juice. As long as the bookie doesn’t consistently lose lots of money to the professional gamblers, they will make money in the long run, thanks to the profit margin.
The “juice” may seem like the house edge. This means that the average bettor will lose in the long run. However, sports betting works differently.
It is easy for you to make big profits in the long term by betting on sports. All you need to do is make sure you win at a higher rate to beat the juice and odds.
The most amazing thing about betting on sports is that you don’t have to win every wager you place to make huge profits. At a 10% profit margin, an average gambler will only win between 53% and 55% rate.
Overall, handicapping might be the best strategy when betting on sports. This involves assessing different variables involved in a fixture and then determine the side that offers a better chance of winning.
Finding An Edge
For you to make $100,000, a year from online gambling, you must find gaming activities where you can easily get a better edge. Gambling and casino games are created in such a way that the house always has an edge. Therefore, you have limited options when it comes to finding the best edge.
A game such as blackjack is created in such a way that the rules can change the edge. Also, it is placed with a set of specific cards. This offers you a chance to track the low and high cards and very the size of your bet to acquire a long-term edge. Technically, this is referred to as card counting.
Poker online is a unique form of online gambling, because rather than playing against the casino, you play against real players. In other words, the house only takes a small cut from every pot. This means you can create a long-term edge if you play better than other players.
On the other hand, sports betting is another form of gaming where you can make a living gambling online. It is easy for you to create a long-term edge betting on sports. The money lines are primarily set by the bookies and can sometimes change depending on the amount of money involved in every game.
This creates opportunities for professional sports bettors to find matches that offer better value than others easily. If you can identify a few games with great value and wager enough on each of these games, you can turn the odds in your favour.
Other forms of gambling where you can easily find a long term edge include some video poker games where you can rely on ace tracking, shuffle tracking, hole carding, and arbitrage for a long term edge.
Playing Full Time
It’s lots of fun to bet on sports, play poker, or online blackjack as a pastime activity. However, it can easily become a grind if you are looking to make a living gambling online or as a way of paying your bills.
For example, if you are a professional poker player who only makes $10 every hour, this means you must be willing to play up to 100 hours to earn $1000 a week. Although it’s possible to play online poker 100 hours a week, it will, without a doubt, be hard on you both physically and mentally. You might likely burn out quickly if you try doing this.
For instance, blackjack card counters spend most of their time looking for blackjack games and moving from one game to another. Therefore, if you have to play a minimum of 80 hours to earn $100,000 a week, you will have to spend another 80 hours looking for the right games and avoiding being detected.
As of now, you know the number of games that you should wager on every month as a professional sports bettor. So, betting on sports can be a full-time job.
Nevertheless, this doesn’t mean that gambling for a living is a farce. But you must be aware of what you are doing. It would be best if you had a large bankroll to make larger wagers so that you don’t have to spend more time betting.
A smart online poker player playing $500 or higher can make $500 a week faster as compared to a player wagering $200. On the other hand, a person placing $5000 bets on sports doesn’t have to waste time looking for games with low wagers.
Keep in mind that the constant stress of trying to find a long-term edge and make large sums of money every week can easily burn you out. As a result, you should always ensure that you are physically and mentally prepare for gambling for a living before you get started. While you can easily make a living gambling, it’s also important to note that it is not for everyone. It would help if you had the skills and discipline to do this.
Are you still wondering whether you can make a living gambling online? If you have read through this post, it’s pretty simple.
All you have to do is consider different factors before you decide whether making living gambling online is worthwhile. The most important thing is to make sure that you are having fun, as you also try to make money gambling online.
Furthermore, you must be willing to spend more time perfecting your gaming skills based on the form of gambling you choose. You cannot make a living gambling online if you aren’t passionate about the gaming option you have chosen.
Proper bankroll management is another important aspect to take into account. You need a bankroll that will help you get over your losses and take you to the next phase of profitability.
Keep in mind that bankroll requirements differ based on the unique stakes of the games you are playing. As a result, it’s upon you to decide exactly the amount of money that you are willing to spend trying to make a living gambling online.
Professional online gambling to make a living can be a profitable career that lets you choose when to play and earn huge profits.
28 May. 2020, by Ari Waknine