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How You Can Become a Professional Gambler

I get an annoying amount of email from people asking me how to gamble like I used to. The truth is that what I used to do isn't profitable anymore. It was a right time, right place sort of scenario. Although I'm not a professional gambler anymore, I have been spending time studying and improving at poker (I'm a break-even or slightly profitable player), and I have friends who are pros. There are surely several different paths you can take to make a living gambling; this is the one that I'm aware of and is feasible for someone of above average intelligence.

Despite offering a rough guide to making money gambling, I don't necessarily recommend that you do so. I gambled professionally for seven years. During that time I made a lot of money and enjoyed my life. One morning I woke up and all of my money was gone. The story behind that is complicated, but the gist is that "they caught on". The strongest emotion I felt was a sense of relief. Gambling is fun, but it's not "big". It doesn't contribute in a meaningful way or leave you with a body of work.

Most casino games have a house advantage ranging from 2-5%, assuming "perfect play". That means that if you play perfectly, you can expect to lose, on average, about 2-5% of the action you put through a machine. Perfect play for slot machines is simply to bet the maximum amount of coins (the jackpot is skewed heavily in favor of maximum coins). For blackjack you need to memorize what to do for every combination of player hands vs. dealer hands, specific to each set of rules (hit on soft 17, resplitting aces, etc).

Working with more focus and motivation, not necessarily harder

On Ideas in the Making

At the start of the year I said I was going to work harder than ever before and that I was excited to trade the markets everyday. Unfortunately this has been easier said than done, not nessecarily because the markets are hard (although they are) but because I have been lazy and not willing to learn and put in the time.

I've written here before about taking massive action. I don't believe in "balance" or moderation when it comes to achieving great things, especially when one is starting out. A good analogy is the way bamboo grows. It takes a while for bamboo to properly root itself, but once it does, it grows faster than any other tree known to man. Skills are similar. If you put in hours and motivation into learning and applying knowledge you can root yourself fast. I call it the time value of skill in a way, where if you "make" all the skill now its much more valuable than making all the skill "later" just like interest and money in the time value of money theory.

Anyways I frankly Haven't been putting in as much time and effort as I wish I were. Back in the day I would play video games for hours trying to achieve something like acquiring a super strong weapon or leveling up my character. In some cases where I knew I was against the clock ( They said they were removing XYZ soon, I had a bet with someone) I would work for longer, be more motivated, and think up of more effective strategies.

A lot of people tell me "but you will burn out". I think this is another myth. There is no "burning out" if you really decide to make what you are doing your priority. Top programmers program for 12 hrs+ a day. Stock traders and online poker players reevaluate their trades/ hands and test strategies day in and day out. I don't want to be mediocre.

Here is what I have been doing and needs to change. I am out lining it here for myself.

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