Any of you capable of consistently profiting through gambling?

[SSgt Dickweed]

If so, by what? Sports betting, blackjack, roulette?

I'm not talking about huge scores like in heist movies or whatever but consistent profits. No need to share the secret sauce.

 

[Get To Da Choppa]

I have won a lot of Sherdog Sportscash by betting against whatever Chael Sonnen predicts

Also doing the opposite of what Jim Cramer recommends will net you consistent gains

 

[Domitian]

Yes I play poker but that's the only thing I'm profitable at. I suck at blackjack and sports betting. At one time I would take a portion of my poker profits to make sports bets but that shit didn't work out very well.

Other than poker I don't gamble at all. I might buy a scratchoff like once a year or whatnot but that's it. If poker wasn't profitable for me, I wouldn't be doing that either.

 

[jeff7b9]

Poker* seems to me like the only place where you can make a profit in the long term. Everything else is mathematically rigged for the house and quite upfront about it.

Poker you just need to be smarter than the average Poker player and pick your games/opponents well, but I would BET that there are more than enough rich dumbasses to keep a decent Poker player in sufficient supply of beer and cheap hookers if he knew the game well enough.

MMA you could make money with sufficient insider info, such as knowing who kicks whose ass in the gym or who is going into a fight injured. You would also, imo, need to get pretty well versed at identifying mistakes in the odds or situations where the money line is shifted irrationally, as in due to sentimental reasons, such as taking money from people that don't realize their favorite fighter is old, shot and not that guy anymore.


_____________


** presuming no house skimming off the pot, which probably doesn't exist in any sufficiently profitable scale.
Yeah, can't say I'm surprised that would be to good to be true.

 

[Domitian]

Poker seems to me like the only place where you can make a profit in the long term. Everything else is mathematically rigged for the house and quite upfront about it.

Poker you just need to be smarter than the average Poker player and pick your games/opponents well, but I would BET that there are more than enough rich dumbasses to keep a decent Poker player in sufficient supply of beer and cheap hookers if he knew the game well enough.

MMA you could make money with sufficient insider info, such as knowing who kicks whose ass in the gym or who is going into a fight injured. You would also, imo, need to get pretty well versed at identifying mistakes in the odds or situations where the money line is shifted irrationally, as in due to sentimental reasons, such as taking money from people that don't realize their favorite fighter is old, shot and not that guy anymore.

Ehhh 90% of poker players are losers in the long-term. Not only do you have to beat the players, but you have to beat the rake as well. Only the top 5% are really making money. Then there's another 5% that are breakeven players who aren't losers but aren't really winners either. It's tough. It's a lot tougher than it sounds and it takes a LOT of time and dedication in order to get on that level.

Then there are other factors as well, like bankroll management. You can be the most skilled player on the planet but if you can't handle tilt and if you can't efficiently manage your money, it's not good.

 

[Hellowhosthat]

I'm pretty consistent at making a profit in MMA betting now but it took me a while to keep the discipline to hit the right spots and hold back the urge to bet on every fight.

I stick to MMA because it's the area I feel I have a big knowledge advantage over most people who are betting on the sport

 

[jeff7b9]

Ehhh 90% of poker players are losers in the long-term. Not only do you have to beat the players, but you have to beat the rake as well. Only the top 5% are really making money. Then there's another 5% that are breakeven players who aren't losers but aren't really winners either. It's tough. It's a lot tougher than it sounds and it takes a LOT of time and dedication in order to get on that level.

Then there are other factors as well, like bankroll management. You can be the most skilled player on the planet but if you can't handle tilt and if you can't efficiently manage your money, it's not good.

What's the rake?

Is there a house cut in poker I am unaware of?

My post, regarding poker, was assuming basically a table of poker players, even money in and out. Then you just need to be better than average to be profitable.
I'm guessing casinos don't like anything they can't dip their fingers in and thus "the rake" come in? Is that a tournament thing or something?

I'll freely admit the first time I saw the inside of a casino and all the flashy lights and employees I worked out that they aren't in the business of giving away free money and that gambling is basically for suckers, as such I have devoted pretty much no energy to learning about it.

 

[Domitian]

What's the rake?

Is there a house cut in poker I am unaware of?

My post, regarding poker, was assuming basically a table of poker players, even money in and out. Then you just need to be better than average to be profitable.
I'm guessing casinos don't like anything they can't dip their fingers in and thus "the rake" come in? Is that a tournament thing or something?

The rake is a percentage of the pot they take out of every pot no matter who wins the pot. That's how the casino makes their money by hosting poker games.

For tournaments there is a fee you have to pay on top of the tournament entry or they could take money out of the prize pool. Depends on the location.

 

[jeff7b9]

The rake is a percentage of the pot they take out of every pot no matter who wins the pot. That's how the casino makes their money by hosting poker games.

Yeah, that figures.

So, on a smaller scale, what i said would basically be true about local games among friends?

but anything larger scale you have a host skimming off the top, and that removes the profitability (as money out is no long equal to money in).

Right?


What about the local mobster type games you see in movies (assuming they exist) is there also a skim to that?

 

[Domitian]

Yeah, that figures.

So, on a smaller scale, what i said would basically be true about local games among friends?

but anything larger scale you have a host skimming off the top, and that removes the profitability (as money out is no long equal to money in).

Right?


What about the local mobster type games you see in movies (assuming they exist) is there also a skim to that?

Home games can be pretty fucking sketchy so I stay away from those unless I know the people and I know the hosts. There's lots of benefits to being in the safety of inside a casino.

Most hosts who hold poker games and invite businessmen and the like to play usually aren't doing it for free. The main benefit here is not to avoid the rake, but to play with these wealthier players who may not be very good and you may also make some good contacts with people.

 

[KBE6EKCTAH_CCP]

I'm pretty consistent at making a profit in MMA betting now but it took me a while to keep the discipline to hit the right spots and hold back the urge to bet on every fight.

I stick to MMA because it's the area I feel I have a big knowledge advantage over most people who are betting on the sport

I also have the feeling that decent money can be made in MMA for someone like you who does have a deep knowledge.

I do feel like the odds tend to be directionally correct more often than not. But every once in a while i think odds are wrong likeBSD Poirier. However I have lost a few such bets in the past, where the veteran ends up getting beaten by the hungry hyped younger guy.

You also need to be aware of rigging byjudges.

 

[fordman7795]

I’ve been a winning poker player for 20 years and sports betting became legal in my state 4 years ago so I’ve been doing that also. I do not consider myself a gambler though.

 

[SKYNET]

I did very well consistently from October 2023 until Feb 2024 using PrizePicks.

A very forgiving system that offers 25x payouts for 6 out of 6, double up on 5 of 6 and 1.2 % on 4 of 6

No longer eligible to use that app in Florida, now we're stuck with only Hard Rock which has been pure ass so far. I highly recommend PP if you have it available in your area

 

[Bacco]

Soccer gambling with a work buddy

It's a period of inactivity though, do it well takes time to check stuff

 

[LEWIS540]

Ehhh 90% of poker players are losers in the long-term. Not only do you have to beat the players, but you have to beat the rake as well. Only the top 5% are really making money. Then there's another 5% that are breakeven players who aren't losers but aren't really winners either. It's tough. It's a lot tougher than it sounds and it takes a LOT of time and dedication in order to get on that level.

Then there are other factors as well, like bankroll management. You can be the most skilled player on the planet but if you can't handle tilt and if you can't efficiently manage your money, it's not good.

I'd guess far less than 5% of poker players are making good money (say consistently making 100k+ profit per year).

Depends who you class as a poker player, I guess.

 

[HUNTERMANIA]

No.

I tried gambling earlier last year as I thought I 'should' be good at it. It was like giving away money so I quit after about a month. I'd just be spending money like crazy if I kept it up.

 

[Orgasmo]

The odds are always stacked in favour of the house.

 

[Uber_Noober]

Absolutely not, I never saw the appeal in gambling. If I gamble it’s the same as me throwing money in a fire.

 

[RoastBeast]

Inverse Cramer ETF lmao

I'll "gamble" on some stock market and crypto plays but if I'm at a casino, my $40 that I gamble away is just spent on the entertainment of it and not because I believe that I have any chance of winning anything.

 

[chardog]

I know of one guy, a good friend of mine, that does poker for a living. He makes ok money, 100-200K a year, but he has to put in a lot of work gambling. He plays online poker and plays against people he knows he can profit from, at a certain level. He doesnt play at the highest levels, it's a job, and he's good at it for a guy with no formal education. To me, he's super good in that he beats all of our friends and group consistently, but in the money making world, it can be a different story. He's been doing it for a decade+, it's doable, but you need to be seriously good and be able to beat out your peers consistently.