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    Making a living from betting

    I was wandering a few days already, and can't come with an answer yet.
    What qualities should I have, in order to make enough money for a living, betting only?

    #2
    Avoid gambling. Gambling and bankruptcy make strange bedfellows.

    (That's all I'm going to say.)
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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      #3
      Making a living from betting rarely happens. Most gamblers lose, they just never admit it, they always think they're winning. Not betting makes you a winner already.

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        #4
        I actually met a WSOP player in Las Vegas. He was at my Ultimate Texas Hold 'Em table. He was waiting to get in the poker room and said he pops onto the table once in a while to kill time. He was very smart, knew all the win/lose percentages and gave me pointers. He also had "the" bracelet and was wearing it. He said that he made a living and I believe him. But he is (was) a different type of person. He truly did it for a living. He made a couple of hundred while waiting to get into the poker room. I lost that much.

        I no longer gamble except Powerball and Mega Millions but not all the time. I try to avoid the casinos because I know it's an easy trap.

        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog

        Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

        Comment


          #5
          This is coming from a person who thought he would make a killing wagering on sports. Unfortunately I've lost everything I've ever worked for. It's real hard even getting out of bed some days knowing what I've done. I very much strongly advise against gambling. The house always wins in the end.

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            #6
            I like to gamble but only as entertainment and never more than I carry on me. If dh & I are going to casino, we make & save a budget just for that. We don't carry anything with us except ID's and cash. We never go expecting to win but do expect to go home with less in our pockets. I'm not sure I would ever want to try to make a living at gambling. I don't even play the lottery 😂😂

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              #7
              The idea of gambling with actual money is a foreign concept to me, and something I cannot for the life of me understand. It makes zero sense to me to wager actual money on anything under any circumstances. Whatever fun might exist in playing card games, games of chance, betting on sporting events, etc. could be had by playing for entertainment only, with no money changing hands. Similarly, whenever someone asks me if I want to bet on something, I always say the same thing: sure, I will be happy to bet you the satisfaction of being right. What could be more valuable than that?

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                #8
                I suppose "actual money" is a relative term; some of the guys in my former neighborhood organized a roving poker party; $25 buy-in, $0.25 ante; on a good night you'd walk away with up to $50, on a bad night you'd lose the $25. So what was the point? It was several hours of sitting around, drinking a few beers, and telling lies.
                Chapter 13 (not 100%):
                • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank cum Bank of Southern California
                • Filed: 26-Feb-2015
                • MoC: 01-Mar-2015
                • 1st Payment (posted): 23-Mar-2015
                • 60th Payment (posted): 07-Feb-2020
                • Discharged: 04-Mar-2020
                • Closed: 23-Jun-2020

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