Tynan

Life Outside the Box

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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).

Playing in the World Series of Poker as an Underqualified Amateur

To my left is Barry Schulman, the owner of CardPlayer magazine, and a professional poker player. At the next table over is Jennifer Harman, considered to be one of the very best limit hold'em players in the world. As the dealer starts flinging the cards around our table, Jennifer stands up. She's just been busted out of the same tournament I'm playing.

I look down at my cards and see pocket queens, the third best hand you can be dealt. I've been waiting for a hand like this for hours.

Amid a field of 675 poker players, the majority of them professionals, and a handful of them famous, only 100 players remain. Improbably, I'm one of them. Luck has a giant part to play in this, of course. If not, I would have been busted out long before Jennifer Harman was. But at the same time, playing for twelve hours with some of the best poker players on earth has given me a lot of confidence. They're better than me, but I've held my own. I'm good enough, at least, to not be totally run over.

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