Tynan

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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).

How To Become a Profitable Mid-Stakes Poker Player

First, the results. Since the World Series of Poker last year, I've played 174 hours of poker. I play limit hold'em, with almost all of my play at the $10/20 or $15/30 level. In that time I've made $7594, which is $43.70 per hour.

I say that I'm a semi-professional, because obviously 5 hours of "work" per week isn't really playing at a professional level. Statistically speaking, it's also somewhat possible that I've just gotten lucky over this time. Considering my level of understanding of the game, including knowing what I don't know, honest evaluation of the competition, and a general comfort level with the game, I can objectively say that I don't think luck plays a large part in my results.

Anyway, I say all that to let you judge for yourself my playing level, rather than having to take my word for it. Real professionals might disagree with some of my advice, but I'm offering it because I think that it's difficult to find the correct path towards becoming a winning poker player, and I've now discovered one such path.

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