Professional Gamblers

Professional Gamblers

Yes, it is possible mathematically to be a professional gambler.  We’ll even tell you how.  But before we do, it’s vital to understand one very key point.

The percentage of players who gamble profitably in the long term is extremely low.  Tiny.  Miniscule.  Infinitesimal.

In this lesson, we’ll explore the world of professional gamblers, and dispel some common, and we think dangerous, myths.

The Reality of Professional Gamblers

As we said, the number of people who successfully gamble professionally is extremely small.  This fact runs counter to the hundreds of people on Social Media claiming to be professionals, and almost always trying to get you to buy their “information”.

The research* shows that in fact most gamblers that identify as professionals are mistaken.  

Putting those people aside for a moment…

For the vast majority of players, the odds are against long-term profitability due to the mathematical advantage held by the casino in gambling activities.  While there may be occasional individual cases of players experiencing short-term profits or winning streaks, sustaining profitability over an extended period is challenging and subject to significant variance.

So How Do Some People Make Money Consistently?

Professional gamblers are able to win over the long run by gaining enough information to turn the mathematical Expected Value (EV) from negative to positive in specific situations. 

As we know from the mathematics of gambling, if you have the advantage, and you can consistently repeat the process a very large number of times, you will come out ahead in the long-run.

There are only a very small number of games that you can gain a positive Expected Value in:

• Poker

• Sports Betting

• Card Counting (Blackjack)

The details around how you gain an advantage in poker, sports betting, or card counting are unique to that specific game.

That doesn’t even begin to account for the other challenges such as casinos systematically identifying and removing people counting cards at Blackjack, or the lifestyle and stress associated with looking to gambling as a means to support yourself financially.  

What is important to take away from this is that anyone who tells you they are a professional, or has “a system” in games like roulette, baccarat, slots, etc. is either misinformed, or more likely, trying to exploit you.  Mathematically, it is not possible.  

Furthermore, what really separates the professionals is their ability to control their behavior, manage their bankroll, and manage the variance that comes with gambling.  These are all the same exact skills that we need to master to build a healthy relationship with gambling.  So if you’re really interested in improving your gambling ability, risk management and intentionality are the best place to start.

Social Media "Professionals"

Back to all the “Professionals” you see on Instagram looking to sell you their “expert picks”.  We’ll leave it to you to assess the legitimacy of a specific “Pro” you come across on social media.  But we would encourage you to ask yourself a couple questions:

• Who is this person? Do they have a credible background in sports or gambling, or are they simply self-proclaimed experts?  Can you verify their results independently?

• Are they transparent? Do they provide details of their success and failure rates? Transparency about their track record is crucial.

• Is there a conflict of interest? Are they promoting a particular betting platform or service where they may earn a commission? This could affect the impartiality of their advice.

• What is their motivation? Are they primarily trying to help their followers, or is their primary goal to gain more viewers and followers?  Are they asking you for money?

Let's Reflect

Consider the lifestyle of a professional gambler. What do you imagine their daily routine and mindset are like, and how does it differ from that of a recreational gambler?

Reflect on the misconceptions or stereotypes surrounding professional gambling. How do media portrayals or societal attitudes shape our perception of this profession?

Closing Thought

It's crucial for us to approach gambling with a realistic understanding of the odds and the mathematical certainty that, in the long run, the vast majority of players will experience net losses.