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Donât worry. Iâm not going to lecture you on the imprudence of trading your 9-to-5 routine and a guaranteed paycheck for the uncertainty of a gamblerâs life. But it would be irresponsible of me not to at least touch on the basic demanding prerequisites and a few of the potential pitfalls associated with this line of work.
This article does not address gambling skills or strategy. But I hope you realize that you have to be able to beat the games before you can even think about trying to make a living from them. Iâve found that many successful gamblers play all games well. If you were the kid who always won at Monopoly and Risk, you probably possess the requisite skills. Thatâs not enough, though. Youâll have to develop the specific expertise necessary to win at the gambling game(s) you choose to play. Obtaining this knowledge and developing these skills is hard work. It demands the same commitment to study and practice that you would devote to learning any other trade or money-making skill.
Numbers are the foundation of gambling, so you need to possess a certain mathematical aptitude. You must be able to remember strategy tables and run numbers in your head. You must also have analytical skills. Not for playingwith the exception of poker, rote recall is usually all you need during actual play. Rather, analysis is required for evaluating the myriad gambling options and determining the best strategy before you play. You donât have to own a Ph.D. in mathematics, but a working knowledge of algebra and a fundamental understanding of probability theory are very important. The ability to solve combinatorial problems is a big plus.
Another essential is money. If youâre not sufficiently financed, your efforts will be wasted. Once youâve identified (or engineered) an advantage, gambling earnings are directly related to how much you bet. You might be the best card counter in Las Vegas, but if you can only afford to make $5 and $10 bets, you wonât clear minimum wage. How much money do you need to start? Among other considerations, it depends on the games you play, how much you want to earn, and the standard of living youâre accustomed to. Iâd say the minimum buy-in is $10,000, and thatâs cutting it close. Some of the most talented potential pros Iâve ever seen are back working in the real world because they were undercapitalized in their initial gambling forays and found themselves stopped out of the game by a run of bad luck.
Youâll need endurance and dedication to putting in the time. If you donât get out and play, you canât earn. In that respect, gambling for a living is little different than punching a time clock. Flexible hours are a benefit of the biz, but that freedom makes strong self-motivation (to get out and work) a must for the gambling pro.
Gambling is boring; many players are surprised by the drudgery that goes with the long hours. Sure, you feel like you want to play around the clock when youâre out on a vacation. But when you have to do it to pay the grocery bill, playing the games for hours on end gets tedious. To get a feel for the monotony, check out a new book called Las Vegas Blackjack Diary, by Stuart Perry (ConJelco), which chronicles the authorâs eight-week stint as a card counter. Youâll conclude very quickly that this job is not exciting. Nor is it romantic; the ability to prop yourself up in front of a video poker machine for 36 hours straight probably wonât drive someone of the opposite sex mad for you.
And, finally, you must be emotionally prepared to deal with unfathomable bankroll swings and the consternation of the casinos. When you lose, the casinos donât care about you, but when you win, youâll feel the heat. To casino bosses, youâre a pirate, no matter how gentlemanly you conduct yourself. |
