[Romo9]

I was wondering if anyone made a good income gambling.

Do you make your money on online casino's? sports betting? both?

I'm currently a college student and if I could make an extra grand a month doing this, it would help out alot.

I'm probably just going to start off with a small deposit. About $200. Any advice on how to build that up to a good amount?

[trumpdown]

How soon you need to make that grand per month will best determine your strategy.

ie: With a starting point of 200, and you need to make a grand in March will most likely be of a much more aggressive nature than needing a grand per month by September. Of course this aggressive nature could very well backfire and left with nothing may be a likely result.

Stay away from the casinos..my .02

If you are just starting out and don't really know what you are doing it will take many ups and downs and that small roll won't survive without a re-load (or many many re-loads) so just start small and slow until you get the hang of things which could take many many months...but don't take my word for it as I'm not a pro

[katstale]

In before Thremp or snack chip dude!! Alot wrong with OP premise. If you knew what you were doing you would be at least a year away from making 1k per month (given your starting bankroll).

I will only leave one tip. Make some bonus money along the way at least for 1st 3 months. Only way you will overcome withdrawal fees with small starting roll.

[BigdaddyQH]

I make a good living wagering. But it takes money to make money. If you, for example, are fortunate enough to win 6 out of 10 wagers (and believe me, over a 40 year run at this, I have not hit that average overall) do the math.

You are starting with $200.00. Let's say that you wager $20.00/game. (we will forget about the vig for now) If you win 6 games, you will collect $240.00 ( 6 wins at $20.00 per win, plus your original investment back. You will have 4 losses totaling $80.00. Your profit $120.00 minus your losses $80.00 gives you a $40.00 net profit, a good ROI, but nowheres near what you want to do. And that does not include the vig.

This past college football season I wagered on 55 games. Two ended up in pushes, so I will eliminate those. So I had decisions on 53 games. If I wagered $20.00/game and paid the normal 10% vig, my total cash outlay would have been $1166.00 I won 34 and lost 19, a very good year by anyone's standards, and a great year by my standards. So if I wagered $20.00/game, I would have received $42.00 per win. That equals out to $1428.00. My net profit is 262 dollars. That is over a 55 wager period of time. I think that anyone will tell you that my ROI was very good, but still, nowheres near what you want to do.

If you are very good at gaming (and 85% of people who gamble lose money), it still would take you a very long time to see a $1000.00 profit starting with $200.00. Sure, you can wager the entire amount and then take the winnings, and go all in again. But even doing that, you would have to win twice in a row just to win $800.00, and if you lose, you are busted.

Gaming is a "grind it out" effort. To be successful, you must have realistic goals. If you are just starting out, what I suggest is that you develop a money management system, and a system for every game you are going to play. It took me 5 years to develop my system and it is constantly being tweeked. The successful gambler has to have patience, an understanding that you are not going to win every time, and the ability to accept defeat, no matter what the reason is.

[durito]

Originally Posted by BigdaddyQH

I make a good living wagering. But it takes money to make money. If you, for example, are fortunate enough to win 6 out of 10 wagers (and believe me, over a 40 year run at this, I have not hit that average overall) do the math.

You are starting with $200.00. Let's say that you wager $20.00/game. (we will forget about the vig for now) If you win 6 games, you will collect $240.00 ( 6 wins at $20.00 per win, plus your original investment back. You will have 4 losses totaling $80.00. Your profit $120.00 minus your losses $80.00 gives you a $40.00 net profit, a good ROI, but nowheres near what you want to do. And that does not include the vig.

This past college football season I wagered on 55 games. Two ended up in pushes, so I will eliminate those. So I had decisions on 53 games. If I wagered $20.00/game and paid the normal 10% vig, my total cash outlay would have been $1166.00 I won 34 and lost 19, a very good year by anyone's standards, and a great year by my standards. So if I wagered $20.00/game, I would have received $42.00 per win. That equals out to $1428.00. My net profit is 262 dollars. That is over a 55 wager period of time. I think that anyone will tell you that my ROI was very good, but still, nowheres near what you want to do.

If you are very good at gaming (and 85% of people who gamble lose money), it still would take you a very long time to see a $1000.00 profit starting with $200.00. Sure, you can wager the entire amount and then take the winnings, and go all in again. But even doing that, you would have to win twice in a row just to win $800.00, and if you lose, you are busted.

Gaming is a "grind it out" effort. To be successful, you must have realistic goals. If you are just starting out, what I suggest is that you develop a money management system, and a system for every game you are going to play. It took me 5 years to develop my system and it is constantly being tweeked. The successful gambler has to have patience, an understanding that you are not going to win every time, and the ability to accept defeat, no matter what the reason is.

you have to be someones ghost

[mintybetmachine]

Originally Posted by BigdaddyQH

I make a good living wagering. But it takes money to make money. If you, for example, are fortunate enough to win 6 out of 10 wagers (and believe me, over a 40 year run at this, I have not hit that average overall) do the math.

You are starting with $200.00. Let's say that you wager $20.00/game. (we will forget about the vig for now) If you win 6 games, you will collect $240.00 ( 6 wins at $20.00 per win, plus your original investment back. You will have 4 losses totaling $80.00. Your profit $120.00 minus your losses $80.00 gives you a $40.00 net profit, a good ROI, but nowheres near what you want to do. And that does not include the vig.

This past college football season I wagered on 55 games. Two ended up in pushes, so I will eliminate those. So I had decisions on 53 games. If I wagered $20.00/game and paid the normal 10% vig, my total cash outlay would have been $1166.00 I won 34 and lost 19, a very good year by anyone's standards, and a great year by my standards. So if I wagered $20.00/game, I would have received $42.00 per win. That equals out to $1428.00. My net profit is 262 dollars. That is over a 55 wager period of time. I think that anyone will tell you that my ROI was very good, but still, nowheres near what you want to do.

If you are very good at gaming (and 85% of people who gamble lose money), it still would take you a very long time to see a $1000.00 profit starting with $200.00. Sure, you can wager the entire amount and then take the winnings, and go all in again. But even doing that, you would have to win twice in a row just to win $800.00, and if you lose, you are busted.

Gaming is a "grind it out" effort. To be successful, you must have realistic goals. If you are just starting out, what I suggest is that you develop a money management system, and a system for every game you are going to play. It took me 5 years to develop my system and it is constantly being tweeked. The successful gambler has to have patience, an understanding that you are not going to win every time, and the ability to accept defeat, no matter what the reason is.

Only 85% lose? Isn't it more like 95%?

[ararat2010]

2 BigDaddyQH: Could u explain ur system and $$ management?

[blix177]

You need to think in terms of ROI, with $200 your not going to earn $1000 per month anytime soon. That is a 6000% ROI. Even the best business only brings in 10% ROI.

But $200 is a good starting point, I.E. all the mistakes and stuff like that.

[Jrod124]

I agree 200 will work man, good luck!

[Peeig]

You could spend that $200 on lottery tix, or you could just get a job..........or, if you want to make money doing this, spend some time absorbing older posts in the Think Tank..........good luck and check back with us after you are done

[gambleballs]

Originally Posted by mintybetmachine

Only 85% lose? Isn't it more like 95%?

99.5%

[Climate]

Originally Posted by gambleballs

99.5%

At least now we're in the ballpark.

[philswin]

The guys who make lines know what they are doing. Many have been doing for over 20 years. It is a consensus of these experts that make the lines. To think you as a college student just starting are going to start beating them consistantly and overcoming the juice is un-realistic. If you get into Sports Betting do it for the fun and experience with the expectation you will probably lose in the long term. Money Mgmt will keep you in the game and pick a reduced juice book, easier to overcome a 5% line than 10%.

[Climate]

Winning in sports gambling, or any type of gambling is going to require a lengthy apprenticeship is my experience. I would suggest buying a book called Gambling for A Living by Mason Malmouth and David Slansky. This will get you started.

I used to be a lot more generous with my advice, but I grew tired of people taking all the information I had to give them, asking for addtional requests and favors, and giving nothing in return. Right now I'm slightly bitter in that regard, and I apologize. But this info should put you in the right direction.

[frank21]

iTS NOT IMPOSSIBLE TO HIT A BIG PARLAY!

[Hareeba!]

If you are talking about doing it professionally, the best you should be expecting is to make $100 p.a. off a $200 bank

You would do far better to invest your funds in acquiring as much material about punting profitably - and there's a wealth of it in sites such as this elsewhere on the net too and save up for a decent starting bank. Initially you should be reinvesting any profits, building up your bank rather than drawing them down for living expenses. So if you want to draw down $12K p.a. you should be looking to have a $24k bank.

[Slainte]

Forget about your superego, don't chase, don't gamble in -EV games, have discipline. Everybody knows this but still few are doing it in reality.

[durito]

Reload gave BigdaddyQH 2 SBR Point(s) for this post.

This might be the best thing I've ever seen.

[moonbeam]

Originally Posted by Romo9

I was wondering if anyone made a good income gambling.

Do you make your money on online casino's? sports betting? both?

I'm currently a college student and if I could make an extra grand a month doing this, it would help out alot.

I'm probably just going to start off with a small deposit. About $200. Any advice on how to build that up to a good amount?

If you are young, please stay away from this kind of income.

All you can earn is a very sad life.

[BigdaddyQH]

Originally Posted by mintybetmachine

Only 85% lose? Isn't it more like 95%?

No. 85% of all gamblers are losers overall. That is the latest number I have. 3% break statistically even, and 12% are winners. Now the degreee to which they lose varies considerably. Many lose around 15-20% of their starting backroll. Others lose more. Still others, the suiciders who you have seen post in here many times, lose it all. The bottom line is few people who gamble are winners on a consistant basis. You have to be very good at it to win enough money on a consistant basis to live off of.

[moonbeam]

Originally Posted by BigdaddyQH

No. 85% of all gamblers are losers overall. That is the latest number I have. 3% break statistically even, and 12% are winners. Now the degreee to which they lose varies considerably. Many lose around 15-20% of their starting backroll. Others lose more. Still others, the suiciders who you have seen post in here many times, lose it all. The bottom line is few people who gamble are winners on a consistant basis. You have to be very good at it to win enough money on a consistant basis to live off of.

It´s very hard to be very good at it to win enough money on a consistant basis to live ... because nearly every book cheat you and limits you to cents.

[BigdaddyQH]

Originally Posted by ararat2010

2 BigDaddyQH: Could u explain ur system and $$ management?

Can I explain the system? Yes, but it would take about 3 weeks to do and a computer expert to help me out with the details. I can explain this. When it comes to serious sports wagering, I only wager in College and Pro Football. Normally College games, and normally less games as the year progresses. That is because as the year progresses, the linemakers get sharper with their lines.

I can tell you that we have a group of gamblers that base our wagers on a computer generated basis, plus a good old fashioned gut feeling about the wager. Our computer is fed facts about all 120 NCAA teams and 36 NFL teams. It keeps data for a 10 year period. The type of data stored is data concerning the players, coaches, recruits, schedules, angles and trends, as well as past performances. The computer uses a formula and generates what it considers to be the legitimate line. We then compare this line to the "lead" or "come out" lines (the lines that come out on Sunday Afternoon in Vegas for the following week) and decide how to react.

Now each of us in this little group of happy drunk football lovers invest a fixed amount of money into a general account. It takes at least 10 of us to agree on a wager to get any action. There are more than 10 of us, and no one is forced to make any wager that they do not want to. Generally speaking, we get a unanimous vote. Obviously we wager on very few games overall, compared to some of the fools we see wagering on 15-25 games a week. Obvioulsy we wager large sums of money on these games. The amount per player is always the same. We believe that a wager worth making is as good or as bad as the next. We NEVER play the sucker plays, those being parlays, teasers, reverse, if, or prop wagers. We look to play as many middles as possible, because middles give the best ROI by far in the business.

I follow the normal money management rules. Some of those are:

Leave the rent money at home.
Leave the plastic at home.
Never chase.
Never drink when gambling.
Develop a money management system that you are comfortable with.
When playing table games, learn how to hit and run.
Take care of the casino/book employees and they will take care of you.
Never get into a serious conversation about sports wagering with a very attractive female stranger. (You guys have no idea what you may be getting yourself into)

As far as a specific money management system is concerned, people differ. The important thing is to stick to a system once you develop it.

One other thing. NEVER EVER play poker against a professional gambler. The successful gambler knows more about you in 30 minutes playing time than you know about yourself. The professional poker player realizes that the cards are secondary, and the reading players is what is so important. I love to play a bit conservative at first, then piss people off so they get thrown off of their game. That makes them very uncomfortable, just where I want them.

[Hareeba!]

Originally Posted by BigdaddyQH

No. 85% of all gamblers are losers overall. That is the latest number I have. 3% break statistically even, and 12% are winners. Now the degreee to which they lose varies considerably. Many lose around 15-20% of their starting backroll. Others lose more. Still others, the suiciders who you have seen post in here many times, lose it all. The bottom line is few people who gamble are winners on a consistant basis. You have to be very good at it to win enough money on a consistant basis to live off of.

where do you get those numbers from?
never before have I seen anywhere near as high as 12% winners mentioned

[Hareeba!]

Originally Posted by moonbeam

It´s very hard to be very good at it to win enough money on a consistant basis to live ... because nearly every book cheat you and limits you to cents.

what a negative view!

yes most books limit you, some to the point where it isn't worth maintaining an account any more

but cheat?

only a couple of the 60+ I've dealt with I'd say cheated me in any way.

[moonbeam]

Originally Posted by BigdaddyQH

Never drink when gambling.
.

Bullshit.

Always drink when you are gambling.

Because your bookmaker is drunked also.

You only need to fugg him.

Easy buiseness

[MonkeyF0cker]

Originally Posted by BigdaddyQH

Can I explain the system? Yes, but it would take about 3 weeks to do and a computer expert to help me out with the details. I can explain this. When it comes to serious sports wagering, I only wager in College and Pro Football. Normally College games, and normally less games as the year progresses. That is because as the year progresses, the linemakers get sharper with their lines.

I can tell you that we have a group of gamblers that base our wagers on a computer generated basis, plus a good old fashioned gut feeling about the wager. Our computer is fed facts about all 120 NCAA teams and 36 NFL teams. It keeps data for a 10 year period. The type of data stored is data concerning the players, coaches, recruits, schedules, angles and trends, as well as past performances. The computer uses a formula and generates what it considers to be the legitimate line. We then compare this line to the "lead" or "come out" lines (the lines that come out on Sunday Afternoon in Vegas for the following week) and decide how to react.

Now each of us in this little group of happy drunk football lovers invest a fixed amount of money into a general account. It takes at least 10 of us to agree on a wager to get any action. There are more than 10 of us, and no one is forced to make any wager that they do not want to. Generally speaking, we get a unanimous vote. Obviously we wager on very few games overall, compared to some of the fools we see wagerin gon 15-25 games a week. Obvioulsy we wager large sums of money on these games. The amount per player is always the same. We believe that a wager worth making is as good or as bad as the next. We NEVER play the sucker plays, those being parlays, teasers, reverse, if, or prop wagers. We look to play as many middles as possible, because middles give the best ROI by far in the business.

I follow the normal money management rules. Some of those are:

Leave the rent money at home.
Leave the plastic at home.
Never chase.
Never drink when gambling.
Develop a money management system that you are comfortable with.
When playing table games, learn how to hit and run.
Take care of the casino/book employees and they will take care of you.
Never get into a serious conversation about sports wagering with a very attractive female stranger. (You guys have no idea what you may be getting yourself into)

As far as a specific money management system is concerned, people differ. The important thing is to stick to a system once you develop it.

One other thing. NEVER EVER play poker against a professional gambler. The successful gambler knows more about you in 30 minutes playing time than you know about yourself. The professional poker player realizes that the cards are secondary, and the reading players is what is so important. I love to play a bit conservative at first, then piss people off so they get thrown off of their game. That makes them very uncomfortable, just where I want them.

Jesus Christ. Don't listen to this guy.

[moonbeam]

Originally Posted by Hareeba!

what a negative view!

yes most books limit you, some to the point where it isn't worth maintaining an account any more

but cheat?

only a couple of the 60+ I've dealt with I'd say cheated me in any way.

Nearly every book of the 60+ cheated me in any way Hareeba, but that´s ok, thats their buiseness

[moonbeam]

Originally Posted by MonkeyF0cker

Jesus Christ. Don't listen to this guy.

That´s right Monkey

[durito]

Originally Posted by BigdaddyQH

Can I explain the system? Yes, but it would take about 3 weeks to do and a computer expert to help me out with the details. I can explain this. When it comes to serious sports wagering, I only wager in College and Pro Football. Normally College games, and normally less games as the year progresses. That is because as the year progresses, the linemakers get sharper with their lines.

I can tell you that we have a group of gamblers that base our wagers on a computer generated basis, plus a good old fashioned gut feeling about the wager. Our computer is fed facts about all 120 NCAA teams and 36 NFL teams. It keeps data for a 10 year period. The type of data stored is data concerning the players, coaches, recruits, schedules, angles and trends, as well as past performances. The computer uses a formula and generates what it considers to be the legitimate line. We then compare this line to the "lead" or "come out" lines (the lines that come out on Sunday Afternoon in Vegas for the following week) and decide how to react.

Now each of us in this little group of happy drunk football lovers invest a fixed amount of money into a general account. It takes at least 10 of us to agree on a wager to get any action. There are more than 10 of us, and no one is forced to make any wager that they do not want to. Generally speaking, we get a unanimous vote. Obviously we wager on very few games overall, compared to some of the fools we see wagerin gon 15-25 games a week. Obvioulsy we wager large sums of money on these games. The amount per player is always the same. We believe that a wager worth making is as good or as bad as the next. We NEVER play the sucker plays, those being parlays, teasers, reverse, if, or prop wagers. We look to play as many middles as possible, because middles give the best ROI by far in the business.

I follow the normal money management rules. Some of those are:

Leave the rent money at home.
Leave the plastic at home.
Never chase.
Never drink when gambling.
Develop a money management system that you are comfortable with.
When playing table games, learn how to hit and run.
Take care of the casino/book employees and they will take care of you.
Never get into a serious conversation about sports wagering with a very attractive female stranger. (You guys have no idea what you may be getting yourself into)

As far as a specific money management system is concerned, people differ. The important thing is to stick to a system once you develop it.

One other thing. NEVER EVER play poker against a professional gambler. The successful gambler knows more about you in 30 minutes playing time than you know about yourself. The professional poker player realizes that the cards are secondary, and the reading players is what is so important. I love to play a bit conservative at first, then piss people off so they get thrown off of their game. That makes them very uncomfortable, just where I want them.

[tltaylor89]

This game is for the strong of mind you have to be a cold blooded bastard to stay in it

[Romo9]

Thanks for all the advice guys.

Being a math junkie and major, I tried to see what my best statistical odds are.

Here's what I think can be profitable. Please tell me if I'm wrong.

My Plan: Place $2 on 32 numbers on a roulett board, with also a $1 chip on 00(just a number I like.) So my total invest is $65.

If I hit on a number I make $72. That's a $7 profit every spin. There's a 85% chance i hit on one of my numbers (I put $1 on 00 because that seems to hit for me alot, so instead of losing 65, i just lose 30.)

Now I realize betting 65 to make 7 is very risky, but it's all about increasing your odds with me. Blackjack is 50/50 and unless your counting cards, there is really no way of knowing your percentenges. At least with this you know there is a 85% you will win.

What I will do is play 3 spins to make $21($7 a win). I'll stop and come back to it again a little later in the day. Hopefully make $21 and then stop. I'll come back again for the 3rd time and make $21 again. I'm up 63 in one day.

If I happen to lose 65, I will then just take away one of my numbers and my 00 and make $10 a spin. I can make up my loss in 5 or 6 spins.

I've found that by splitting it up in 3 intervals rather than just sitting down for an hour straight is better.

What do you guys think?

[MonkeyF0cker]

Originally Posted by Romo9

Thanks for all the advice guys.

Being a math junkie and major, I tried to see what my best statistical odds are.

Here's what I think can be profitable. Please tell me if I'm wrong.

My Plan: Place $2 on 32 numbers on a roulett board, with also a $1 chip on 00(just a number I like.) So my total invest is $65.

If I hit on a number I make $72. That's a $7 profit every spin. There's a 85% chance i hit on one of my numbers (I put $1 on 00 because that seems to hit for me alot, so instead of losing 65, i just lose 30.)

Now I realize betting 65 to make 7 is very risky, but it's all about increasing your odds with me. Blackjack is 50/50 and unless your counting cards, there is really no way of knowing your percentenges. At least with this you know there is a 85% you will win.

What I will do is play 3 spins to make $21($7 a win). I'll stop and come back to it again a little later in the day. Hopefully make $21 and then stop. I'll come back again for the 3rd time and make $21 again. I'm up 63 in one day.

If I happen to lose 65, I will then just take away one of my numbers and my 00 and make $10 a spin. I can make up my loss in 5 or 6 spins.

I've found that by splitting it up in 3 intervals rather than just sitting down for an hour straight is better.

What do you guys think?

I think you're not a math junkie at all. And if you're a math major, good luck graduating.

[BackDoorCover]

Originally Posted by BigdaddyQH

Our computer is fed facts about all 120 NCAA teams and 36 NFL teams.

Super sharp there......

[whatsgood5]

Bigdaddy has been spot-on throughout this thread

[whatsgood5]

Originally Posted by BackDoorCover

Super sharp there......

Except for this