How do poor people earn a living from gambling?

Whenever you hear such a question, you should be absolutely aware that a hot discussion is just about to begin. Countless minds are being bothered by this problem, unable to find any honest-ish or non-misleading answers. The best betting companies in Nigeria and around the world promise you mountains of gold, but in reality, the bankroll grows slightly, if not being wasted. There are so many stories out there about poor guys making a fortune in casinos and sportsbooks, but there’s no unambiguous recipe for such success. That’s exactly why we decided to gather all the available information in one place and answer this question once and for all: "How do poor people earn a living from gambling?"

With the intention of starting off our path at the right spot, we’d like to address another question before answering the main one. Is it a real thing to earn from gambling, without being poor and without earning enough to live on? Simply put, is it possible to earn anything at all?

Usually, it all comes down to your personal skills, characteristics, knowledge, and even more so, luck. You can never be certain whether you are coming back home with a jackpot or with empty pockets. Talking about casinos as a form of gambling, luck tends to be the main factor in determining the outcome of the play. While sports betting, as another form of gambling, reduces the influence of luck, it does not disappear overall. With a huge volume of time taken for preparation and tons of statistics read, there’s still room for a random tiny element to blow the game up. That’s why professional bettors always factor risk into their calculations and do not stake a good part of their bankroll.

Nevertheless, the most genius punters happen to make a profit in the long run without constantly going below the red line. They actively use various investment and hedging strategies, scrupulously study statistics and analytics, and know each league of selected sports. And even that does not provide immunity to failure. As for 2022, official international reports suggest that only 5% of bettors manage to make money. Sadly, that’s the showcase here. Realistically and statistically, it’s almost impossible to earn money from gambling, if you are not in that five-percent club.

As the idiom goes, it’s always tempting to cover two things at once. But that’s not the case with gambling. In the pursuit of easy money, lots of people happen to forget about the fact that gambling is only a form of entertainment. Yes, theoretically, there’s always a chance to make some money, but its primary focus is providing you with a desirable emotional outburst and a breath-taking ride on nerves just like on a rollercoaster.

With this thought in mind it’s quite easy to look at gambling straightforwardly. Back in the days it was ultimately designed to be fun and exciting for everyone who has money, and quite beneficial for those who own casinos and bookmaking companies. Think of the industry this way: it was never intended to help people out with money. It’s not a charity. It’s a tough business in which only the strongest survive.

The answer is as simple as it only could be. They don’t. It doesn’t really matter if the person is poor or rich. What truly matters is the fact that gambling is only a game of chances, and there’s nothing that can be predicted with 100% confidence. People who claim to make a living either lie or exaggerate. You can’t say that you’re actually making a living if the winning does not cover your basic monthly needs and the needs of the people who depend on you.

A fair thing to highlight here is that people who make a living from gambling either own a casino or sportsbook, work for them, or are offensively lucky. The last ones can also be called very skilled gamblers since it takes a long time and usually bags of money, which you can consider as hundreds of losses. Genuinely, they think of gambling as a fun hobby that they can afford. It’s brave not to doubt that these gamblers would do the same without a financial airbag behind them.

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As for owners, just like we mentioned before, it’s a profitable business if enough effort is invested in the development. They will do everything to secure the income, which sometimes leads to the permanent exclusion of certain people from a casino. These fortunate souls might be just lucky, might be smart, or even might be cheating, but no matter the reason, the staff will do everything to cut the losses. Casino’s employees also have their own KPIs to juggle, and they won’t put their income in danger just to help someone win.

Talking about the situation in general, it's realistic to rely on occasional small luck with cash from casinos or sports bets. But at the same time, it's quite naive to believe that you can make enough money to live off gambling alone.

We’re not the mythbusters, nor are we the bringers of bad news. Science studied everything for us, and the big brains said a million words on the given topic before we started to write. We want you to get along with the correct perception of gambling, and when you do so, the unnecessary questions will disappear. While you might think you’re exceptional and this is your ticket to a better life, don’t kid yourself.

Gambling is great! It’s thrilling, unpredictable, challenging, and dramatic to some extent. Taken only as entertainment, we have no questions about why it was invented and is in such demand. But whenever you try to "hack the system," be aware that, with a higher probability, the system might hack you first.

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