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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).

Irrationality & Economics

On A Germinating Seed

This semester, I'm actually really excited about my classes. I spent the last year and half taking breadth (general education) requirements. I still have some to go, but I had a lot more freedom this semester to take whatever I wanted.

One of the classes that I'm most excited about is a class called Public Policy C103: Wealth and Poverty taught by Robert Reich. This was the turn out for the first day of class.

(Photo credit: Michelle Galemmo)

The lecture hall is designed to fit about 750 people. But, there are about 300 people on the waitlist, so about 1000 showed up. I sat on the floor in the waaaay back.

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