- How To Make Money Fast Online Gambling
- How To Make Money Fast For Free
- Win Real Money Gambling Online
- Real Money Online Gambling
- How To Win Money Gambling
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First, let’s say a few words how the big guys work in this business.
- The Bottom Line of How to Make Money Gambling Online. Hopefully, if you’ve read until this point, you have a pretty strong idea of the different options you have when it comes to making money gambling online. Depending on whether you’re just looking for some recreational fun or a way to.
- Did you know that you can make money with free spins casinos that offer bonuses without needing to make a deposit? Online casinos have been around for a good 20 years now, and if you are not aware of them, well they exist and many new casinos are launching every month online. One promotional feature of a casino that probably will never disappear is the no deposit bonus.
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The gambling industry is mostly made up of sports betting operators, casinos and poker rooms. These are the industry’s big winners, due to how games are stacked against players. Bookmakers make money due to vig, casinos are guaranteed to profit due to the house edge and poker rooms receive rake from every pot.
Total global gambling market gross win from 2003 to 2015 [Courtesy of Statista.com]
If you want to win big and constantly, you need to start a gambling business. No other way around. You cannot take a bigger cut of the gambling pie unless you are one of these companies. Even the most successful poker players and sports bettors cannot compete them in profitability.
Yet, these businesses are not one-man shows. Plenty of people work in the gambling venues, from dealers and odds compilers to marketers and public relations staff. They are real businesses with business plans that guarantee them a profit for offering a service to the public. That service is entertainment. Because that is what gambling is.
Entertainment.
For all that people to work and get paid their salaries, gambling companies need big cheques and margins. Otherwise, their business isn’t sustainable.
There are two ways to accomplish that: by either having bigger-than-average profit margins or increasing their turnover. Usually, brand new gambling companies go for the former. As they build up their customer base, they reduce their margins to attract more turnover and compete with the big guys. By the time a gambling operator generates sufficient revenue and net profit every year, their business is safe, as long as they don’t fall behind to competition.
Then, it’s a matter of how many more gamblers find their service attractive. The more they do, the bigger the cut for the company.
Either way, gambling companies are after punters’ money. Those 300 billion dollars. Gamblers are feeding the whole gambling industry. Even in poker where at first glance whales (wealthy bad players) lose to better, regular players. Note “regulars”. Eventually, those regulars will keep playing, paying rake on a daily basis, giving a portion of their winnings back to the poker room.
So, here’s how to stop feeding the gambling industry.
Stop gambling!
If you have been gambling, stop. Unless you are a winner, you need to stop. And since you are reading these lines, you have been losing money. So, stop losing money!
So simple.
Now that your bankroll stopped depleting, it’s time to understand the ins and outs of the gambling industry. That is known as the iGaming industry if you are gambling online.
Size of the online gaming market from 2003 to 2015 [Courtesy of Statista.com]
In gambling, someone has an edge. It’s either you or the man on the other side of the betting line. That usually is the house, standing for bookmakers and casinos. That edge is either predetermined (think of roulette, where you are paid 35-to-1 on a 37-number wheel) or fluctuating (think of betting odds that move up or down).
The best way to comprehend the edge is a coin toss.
Imagine you bet on a coin flip, at less than even odds. No matter your choice of heads or tails, you are going to lose money, in the long run. You are betting on a 50-50 chance but only get paid less than double your money on each coin flip! Depending on how much less you are getting paid, your bankroll will withstand a certain amount of bets.
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So, if I’m offering you 1.90 (decimal odds) for each coin flip, your money will end up in my pockets after 200-300 coin flips. That’s how you have been feeding the gambling industry. And that’s what the house edge is all about.
But how do I know how big is your bankroll?
Risk management in gambling
Before you even think of beating the casinos or the bookies, you must understand risk management. Also known as bankroll or capital management, risk management will be the decisive factor in your success. No matter how much edge you gain over the gambling companies, bad risk management will make your betting bankroll evaporate.
If you are going to remember one thing from this article, note this:
That’s easy to remember, right? Set aside a specific amount of money for your gambling habit and split it into 100 parts. No matter your gambling medium, you should risk no more than one part on each bet you are placing.
That’s pretty much it!
That would also get you in a safe distance from disastrous staking plans, like martingale systems. When the time comes, you’ll move up to more advanced staking strategies than flat betting, such as the Kelly staking plan. Until then though, stick to risking 1 per cent of your bankroll and you’ll be fine.
Remember that this rule applies to small and big bankrolls alike! So, your bankroll’s size doesn’t matter when it comes to risk. Size only determines how much money you will make or lose in currency terms.
Find a gambling system
Now comes the really tedious task of creating a profitable gambling strategy. Finding an edge in the market isn’t easy, I’ll tell you that. If it were that easy, and given the simple risk management rule I explained, everyone would be a winner. But you already know that only 5% or so of gamblers can make it pay.
In order for you to make money, someone has to lose. It’s a zero-sum game, where gambling operators also get their cut. Thus, we need to exploit the market, looking for leaks and biases, like the favorite-longshot bias . The average gambler follows specific betting patterns. You mustn’t do the same. Always do something different, always think different.
Be the first to … or be the best in exploiting a known fallacy.
Oh, and if you do, don’t let the world know unless you are after fame and reputation. Otherwise, your edge will diminish as more people will imitate you, and market finds its new balance.
Finally, don’t worry if your first betting system fails!
Be disciplined, stay on your toes and avoid burnout
So, by now you should have a viable system and know how much to bet on the next game. You are on your way to becoming one of the elite professional gamblers. What can go wrong?
First, you may not be disciplined enough to follow your own rules! Wouldn’t it be pity to lose money, after all that research and study? Yet, even reputable and notable sharp bettors may lose their discipline after a long losing streak.
Don’t be that guy.
Trust your proven strategy, stick to your risk management plan and always be prepared for variance. Embrace the drawdown and never question yourself at tough times, as long as you are doing everything by the book.
By the time you experience several months or years of successful gambling, there’s a big chance you feel… bored! Yes, believe it or not, no matter how much money you are making, doing the same, dull thing every single day, will get you bored. At first, making money from gambling seems like a dream. But like in every other business, routine will take the pleasure away.
Find the missed fun, by exploiting new markets, trying something new or improve your methods.
Finally, burnout is a serious hazard in all kinds of successful gambling. Take breaks, go on holidays, and enjoy your profits and hard work. Don’t let gambling consume you, no matter how big you are winning.
Enjoy life, because in the end, isn’t that the meaning of living?
Let’s not hurry things up though. Most probably, you’re having a difficult time to break even to say the least. Winning in the long run seems too far away at the moment. Don’t despair. Stop gambling your money away, find an edge, forward test your system in paper and when you feel ready, do not risk more than 1% of your bankroll. I am sure, we’ll be hearing from you soon!
You can make money fast in gambling. Faster than you would think. Surprised? Why, that is the truth. Yet, it is also true that you are going to lose even more money in the long run. Disappointed?
You could be betting on sports, trading stocks or currencies, playing poker or blackjack. You can make money from all that on the very first day! Is that fast enough? Does that mean you are going to be profitable for the rest of your life? Of course not.
In fact, 90% of you will end up losing.
Don’t take it personal. It is just how gambling is set up. Come on, you have heard it before:
The house always wins.
For 9 out of 10 gamblers, that statement is spot on. For the singled out gambler, it isn’t. He or she will either break even or manage to make money from gambling. However, even they won’t make money fast, if that is what you are asking.
Do you want a better analogy?
90 out of 100 gamblers will lose money by gambling in the long run, 5 will break even, 3 will end up small winners and only two out of 100 gamblers will see their names at headlines! Why headlines?
Because it sure is very difficult to win big in online gambling. Let alone, fast!
Did you actually mean to ask how to make money fast or how to make a lot of money? Because, making money fast doesn’t necessarily mean to win big. And when I say big, I mean to make a comfortable living out of stock trading, online poker, sports betting or by becoming a card counter at blackjack.
SportsTradingLife.com discussed months ago how long it takes to become a profitable Betfair trader. First things first: What is Betfair trading? Go read that if you haven’t heard of that before. I’ll wait for you…
Ok, now that you have an understanding of what sports trading is, let’s return to that question.
How long will it take to start making money?
The issue here isn’t how long it will be before you make money, rather than for how much longer you are going to make money, if you are finally successful.
At SportsTradingLife’s post they are quoting Centre Court Trading.
Expect to be learning for years.
While that is true, I am a bit skeptical. Not that I don’t agree with that, but let’s face it. In what line of work are you not expected to be learning? To be adapting? To keep up with the industry’s standards? To evolve and learn new tactics, new methods to improve your work? For years to come.
Can you imagine a surgeon operating in the same exact way for 35 years, or a teacher educating your children nowadays with absolute zero knowledge of internet, just because internet wasn’t so evolved in the 90s? How about an engineer building bridges or your home, based on what they learned 15 years ago.
Sure, the fundamentals are still applicable. Surgeons still need to cut through with a scalpel, teachers still teach algebra and engineers still have to start from the foundation of a construction. But new technology and new techniques will make their job easier and more efficient.
And if they don’t improve their skills, their competition will
And then, patients will look for another surgeon, parents will search for better schools and you will employ an engineer who will build an inexpensive sturdier house quicker!
In gambling terms, your strategy will no longer work. You will stop making money because the competition play/trade/bet better and smarter than you. Finally, you will end up wondering what went wrong, cursing your luck.
Believe me, luck is totally unrelated.
Now you are not worried why you don’t make money fast, but why you don’t make any money! You are back to ground zero.
Hence gamblers, investors and traders never stop learning their craft. Much like any other craftsman.
You can make money fast in gambling right from the start
So, let’s go back at the very first point of this article. I told you that you can make money fast, even from day one. Luck does have an effect on that though. Half of you will be lucky to get away as winners on their first day of gambling, while half of you will return home empty-handed. Doing the same exact thing. How is that possible?
Let me explain.
Variance will decide who wins or loses
Variance. What is that, right? Flip a coin. Tens of times. I bet the results won’t be heads-tails-heads-tails…. In other words, the coin will not land on either side half of the times, and even worse, it won’t follow that exact pattern, switching back and forth between heads and tails.
The same principle applies to you. Some of you will win, some will lose, some will have 3 winning days in a row and a few unfortunate souls will be losing money for 5 days straight!
Now, remember what I told you:
90 out of 100 gamblers will end up losers.
Those people who were lucky enough to make money fast for 3 consecutive days are probably among those losers! And that is because their strategy is flawed, their money management is non-existent and they cannot stop gambling when the odds are against them. For them, there is no turning back, unless they quit and begin studying the mathematics of gambling. They are like doctors who haven’t studied medicine for more than a year.
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I am sure they won’t be good gamblers as they wouldn’t have been good doctors. Don’t be one of those.
On the other hand, those unlucky ones who experienced the longest losing streak could be the big winners there. Can you rule that out? It’s really too soon to say. Variance is testing their patience. For them it seems like the coin always lands on the wrong side.
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Eventually, they will manage to make money in the long run though. Not because of their luck, but because of the proven record of their profitable strategy, because of managing their money properly and because of having the discipline not to gamble away their money.
They didn’t plan to make money fast. Their plan was to make money in the long run.
Making money isn’t a sprint, it’s a marathon
Photo: entrepreneurhandbook.co.uk
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Personally I have been none of those gamblers. Variance was kind to me and my bankroll began climbing right from the start. Even when my risk of ruin percentage was through the roof. Even when I was taking bigger risks than my capital afforded.
Have I been super lucky? Of course I have.
But remember.
I always had a strategy that guaranteed I would make money in gambling. It was just that I wasn’t bankrolled enough to sustain big drawdowns, when I was counting cards at the casino. As most young gamblers are.
How To Win Money Gambling
So, if you have found that strategy, it won’t be long before you become profitable in gambling. But if you haven’t, please stay out of gambling, stop wondering how you could make money fast and come back when you have tried your strategy on paper. You would still have money to invest in your strategy. Money you saved by not gambling randomly, based on your ego, trying to make money fast.