In 2018, I made more money off gambling than investing. Losses included, I enjoyed a 148% return on investment.
That’s like earning $1.48 for every $1 you bet.
Today’s article looks at gambling as a side business. Something I personally find easier than day trading stocks or flipping Crypto Currencies.
If you’re curious about high-stakes, exciting world of betting, this article is for you.
The Biggest Gambling Myth Debunked
Non-bettors think it’s impossible to earn money gambling. To them all wagers are rigged and there’s no way to win.
This is only true with certain games. Roulette and slot machines carry a massive house edge. That’s why casino love promoting both. Additionally, each of these is a game of chance with little to no strategy involved. You have no control over the outcome.
Other table games, like Craps and Blackjack, are more “winnable.” Each of these has a low house edge and strategic players will actually turn a profit, if they know what they’re doing.
Lastly, sports bets and poker are very lucrative if you’re good at them. But more on that later.
How To Make Money On Table Games
Avoid slot machines, roulette, or any specialty games like Caribbean Stud.
Instead, stick to Blackjack, Baccarat, or Craps.
If you’re serious about playing for profit, read the following three books:
- Gambling 102 – Covers all the basic rules and probabilities for every major table game.
- The Dice Doctor – An excellent book all about Craps. Details the best betting strategies multiplying your money.
- Blackjack Bluebook – The ultimate guide to beating casinos at blackjack. A must read.
Each of these provides in-depth information on maximizing your advantage to beat the house.
My last table game tip is this:
Think about your wins as a percentage, not a dollar amount.
If you walk into the casino with $100, and you win $20, that’s a 20% return on investment. Might as well cash out while you’re ahead.
How To Make Money Sports Betting
Sports betting offers bigger, faster returns than most traditional investments. Likewise, picking a winning football team is much easier than day trading stocks or timing the BitCoin market.
(My Biggest Prediction Of 2017)
Starting out, I used Zcode Systems to help with my picks. They did a great job and I won money overall, but I later switched to making my own picks once I got comfortable.
When it comes to sports betting, I suggest picking a handful of events to gamble on.
Do your research, wager on whatever you think is the most likely outcome, and bet big. The lets you take your time and make informed decisions, giving you a major advantage over most fair weather fans.
How To Make Money Playing Poker
Here’s a consistent money-maker and great hobby. When it comes to gambling, nothing beats a good poker game.
One of the coolest things about poker is how you can go anywhere in the world and make money playing it. Even low-level players often clear $15 an hour, making it way more lucrative than your average retail job.
As with everything else in this article, it’s important to do your homework.
Invest in some books on poker (Education Of A Poker Payer and Super System are great starting points). Read them cover to cover and take notes.
After this, find a free card room or app and start playing for fun (not real money) every day. Once you’re consistently good, move on to playing for cash.
Final Gambling Tips
If you want to make money gambling, you need self-discipline. Contrary to popular myth, professional gamblers are incredibly high IQ.
I really can’t stress the importance of doing your homework and becoming an informed bettor.
Doing so gives you a massive advantage and helps ensure long-term success.
If you’re willing to learn the art of gambling, there’s no better hobby. It’s fun, exciting, and very lucrative.