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What You Need to Know Before Pursuing a Gambling Career

January 11, 2021 3 0
What You Need to Know Before Pursuing a Gambling Career

Since you spend most of the day either at work, traveling to and from work, or thinking about work, it inevitably plays a significant role in your life. Focusing for long periods on tasks you find boring, repetitive, or unsatisfying can take a dangerous toll on your mental and physical health. When it comes to finding satisfaction at work, it’s best to choose a career you are passionate about, even if that is gambling. 

Many gamblers dream of leaving their regular job behind to gamble full time. For most individuals, gambling as a full-time career is an unwise idea. However, a good number of individuals have managed to make a career out of gambling. Sure it’s fun to imagine your life as a successful career gambler. But before you quit your day job and jump headlong into a gambling career, it’d be sensible to stop and think. Properly weigh the pros and cons. See if you have what it takes to make gambling a lucrative career. 

Pros and Cons of Being a Career Gambler

Embarking on a professional gambling career is about balancing risk and reward. You must understand the odds and make wise decisions. Below are some of the pros and cons of being a career gambler.

Pros

  • Opportunity to make money while traveling the world.
  • Big winnings can secure the financial future of your family.
  • It only takes a single huge win to become quite a celebrity. 
  • You can establish new connections, including high profile individuals.
  • You’ll develop mental resilience, which can be useful in other spheres of life.
  • You’ll be free from the shackles of the 9-5 and have time for other significant activities.

Cons 

  • You might have to live with a bit of a social stigma in certain circles.
  • Due to its nature, a career in gambling can expose you to all sorts of vices.
  • Your success hinges heavily on the whims and caprices of gambling institutions.
  • The probability of becoming a financial failure is higher than in most other activities.

Questions to Ask Before Starting a Professional Gambling Career

As mentioned previously, you have to consider a lot of things before deciding whether you should embark on a professional gambling career or not. For starters, here are some questions to ask:

What makes successful professional gamblers successful?

Contrary to popular belief, it takes more than luck to do well at gambling. The best gamblers are strategical players. Strategies boost their success rate. That explains why a lot of gamblers remain calm amid a losing streak. They are well aware that they can immediately make back whatever their loss if they adhere to their strategy. Successful gamblers have faith in what they are doing and manage their casino bankroll efficiently.

Am I willing to let go of the benefits I get from my regular job?

Becoming a professional gambler means saying goodbye to the stability and other perks of having a regular job. That includes such benefits as steady income and healthcare. In case of an accident while at “work,” you’ll have to cover all your medical costs and other expenses. Sure, you can sign up for health insurance anytime, but until you’re making enough money to afford it, you might have to put such a thing on hold. Other stuff you sacrifice in your pursuit of a gambling career include a pension plan, paid vacations off, and sick days.

How much will I make?

Unless you have the caliber of those poker experts in the movies, you must know that gambling is not a surefire way to earn. Making money as a professional gambler is feasible but not a walk in the park. You have to rise above your opponents, minimize massive losses, and maximize gains. A good deal of practice is also necessary to build the right skill level required to start a gambling career. Remember, a professional gambler can’t profit enormous sums of money without gambling skills and taking risks. 

To match your current earning, you have to find a game you can excel at and consistently win. Make sure you have enough capital to fund your transition and ample time to play every week to at least make what you’re already earning at your day job. 

Important Reminders Before Pursuing a Gambling Career  

For sure, the last thing you want to do is make the mistake of going all in and quitting your job before you even see consistent success with your gambling. Below are some additional nuggets to remember as you build your gambling career. Remember these every day until they become part of you.

Always have a predetermined plan

Before starting any gambling session, figure out your overall goal for it. Determine when it’s the to give up and take home your gambling earnings instead of reinvesting. You must include these details in your plan.

Stay in your comfort zone

Throughout your gambling career, you’ll realize you have the most success in certain games. Whatever game that is, the key is to make sure you stay within this comfort zone. Never venture out except to learn about new areas. The games you are most skilled at are those you have an edge on for whatever reason.

Never go on a revenge gambling session

Simply put, revenge gambling directly means chasing your losses. By doing this, you throw caution to the wind and forget about your strategy. And more often than not, it finishes in disaster. If you have dreams of making a fortune as a professional gambler, it may be best to re-assess your position.

Keep your emotions in check

It’s fun to make a few thousand dollars, but you can quickly lose all that and more if you let overexcitement creep in. Avoid overexcitement during and after the game. You have to stay grounded to make smart decisions and avoid mental patterns that will place you under pressure in your next match. Think about how you are going to spend the next lot of winnings later on. Always play with your head and never your heart.

How to Avoid the Worst-Case Scenario

Many gamblers overrate their ability to win always while underrating the difficulty in consistently winning enough to survive. Even worse, some gamblers fool themselves into believing they have an advantage when, in reality, they don’t.

The worst-case scenario is leaving the casino floor without winning enough to survive and seeing your funds go down the drain. If that happens, you’re going to need to return to your day job. And unfortunately, finding a steady regular job can take a long time, especially with a gap in your employment for the time where you gambled for a living. 

You can survive such a scenario by building a reserve of at least a year’s worth of living expenses before you start a full-time gambling career. Note that this is on top of your gambling bankroll. It’s also wise to put your worst-case scenario fund in an interest-bearing account of some kind. You can only touch it if you have to find a regular job again. Don’t make the mistake of using this fund to replenish your bankroll if you start losing. 

Ideally, your gambling bankroll has to be large enough to withstand normal swings. Once you lose your bankroll, it’s time to kiss professional gambling goodbye. 

The Bottom Line

A gambling career is challenging and comes with many dangers. But on the upside, it can be rewarding if you stay level headed and employ a long-term strategy that puts you at an advantage. Unless you are truly skilled or gifted enough to make it big in this activity, just gambling for fun is not a bad idea. If you’re confident you have what it takes and are still hell-bent on making gambling your full-time career, use the advice in this article to your advantage. 

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