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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).

Wanting Everyone to Win

On SEBASTIAN MARSHALL

I just got a good email from a friend about emotions and biochemistry. It got me thinking.

Envy and schadenfreude are common emotions. People like seeing their opponents fail.

Is it possible to get over that? Would it be desirable to get over that?

I think envy and schadenfreude and hatred are usually a detriment to people feeling them. This is obvious enough when you're playing a positive sum game - because Positive Sum Games Don't Require Natural Talent, and have a near infinite opportunity for success. Disciplines like inventing, engineering, finance, entrepreneurship, mathematics, and the natural sciences work hand in hand. Every win by an inventor opens lots of doors for engineering, finance, entrepreneurship, math, and science. And indeed, for other inventors.

A lot of people mistake positive sum games - like the economy at large - for a zero sum game. They think that if you get money, they'll get less money. Of course, it doesn't work like that, as our exponentially growing standard of living shows. Even if someone loses a local conflict (to gain market share in a new technology, for instance) they can still go on to invent and innovate in a new field.

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