Hi there,

I am curious, do you think it is possible to make a living off gambling? I have heard of people doing this but don't know of any.

In my opinion, it would be possible with sports betting. I don't think you could with Racing though.

What do you think?

Anythings possible, just depends how big your starting bank is.

Plus to make a living you need to make what 50k a year profit every year.

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GO VOUVRAY

Buy a TAB outlet, sell betting methods or tips or even get a forum going like this !

On a more serious note, try making a profit on $2 bets [only] over 12 mth. because if you can't make a profit on $2 bets, you certainly won't on $500 bets either!

If you are good enough to achieve that goal, work out the % profit you have made. From there it's easy to work out how much you need to bet with to live for a year [providing you can repeat your 1st. year's success [if any] :-))

Yeah I created a couple of spreadsheets around 4 or 5 months ago with 'virtual bets' on rugby league. Using $100 bets each time (more after a loss) they both produced a nice consistant profit.

But the thing is, I don't think I'd be able to bring myself around to place such large bets which means minimal profits = Small part time income.

It is possible and if I increased my bet size I could be doing it right now.

But it is hard work and I don't think I would continue to get the enjoyment I do out of it if I took it on as my sole income. I do make a nice little side pot though and this year looks like it might be 5 digits.

I think I have found the more I understand and focus on my own betting the more I am less willing to share ideas and the less I frequent the forums that are around the net. I guess once you find your own holy grail you don't need to search the forums for other peoples holy grails.

Good Luck.

wesmip1, an excellent thread mate, maybe cos it's somewhere near where I'm at; at the moment after 4 years plus of serious betting.

Like you I have actually turned around a "lifetime" of being a "GUT" gambler (and ultimate loser, some people call it personal handicapping) I now have a record of PROFITS, so why can't I just increase stakes and end up living off the punt???
well for me it's something to do with what I'm comfortable with, i.e. I started with what I considererd serious stuff with $50 bets, then $100, then $200, I KNOW I have to be at $1000 bets right now to have any chance of "living off the punt" but I find it hard, VERY hard to progress to that level even with $100,000 available, in fact $300,000 available, but I'm not sure what losing run would make me "WOBBLE" seriously, I think somewhere around 10, hee hee, with my place betting I've never had 10 losers in a row but I have been in a serious loss situation several times only to recover later, BUT it sure scared the hell out of me, I'm very interested to hear any thoughts from people here who have actually taken that "NEXT" step??

i have lived off gambling for the past 7 months

to cut a long story short i worked for dad in the family business but then he got too good of an offer and sold it
i was making ok money from it just by betting on the weekends on sports, and it was consistent money too. so while i was looking for a new job i decided to take my bets a little more serious. i researched throughout the week and bet. i was doing ok so i decided to take it up full time just for this year(i have enrolled for uni next year)

to be honest i cant see myself doing it for the rest of my life(i am in my 20's). i have been lucky this year that i have not had a losing streak for more than a month but it is hard knowing that if you dont win, you dont get paid where as in a proper job you know your getting a pay check at the end of the week.

anyways theres my 2 cents
good luck and happy punting

There is a huge psychological stumbling block moving from betting small amount of money that a punter can reasonably afford to lose, to large amounts of money they cannot afford or don't wish to lose.

The old adage about never betting what you can't afford to lose [never bet the rent money] is a very good one.

The problem for anyone wishing to make enough on the punt to live comfortably on is: [a] having the ability [b] having the psychological makeup required [c] being able to afford largish bets and the inevitable runs of outs on large bets.

Anyone possessing both [a] and [b] have the problem of [c] and anyone possessing [c] will find there are far more profitable and less risky things to do with capital that to play the high risk futures market, which is exactly what punting is.

Would anyone here consider investing in and living off the Futures Market a wise career move? Punting on the horses is easier and safer and isn't playing the Futures Market?

$50k and up sitting in a bank can earn 10% with no effort or risk. A lot more than 10% can be made with some risk and a little work.
Even the best pro. punters work 24/7 and would be seriously struggling to make 10% on turnover after costs. Some years they make nothing and even lose in others.

'Living off the punt' [getting rid of the Boss or current business life?] is a no-brainier. I punt for pleasure, win or lose.

Here is my idea for living off the punt:
I will provide a max. of 100 [lucky] punters 10 selections a week from the sweat and toil I put into handicapping with all the latest computer input. Min. bets by those [lucky] punters will be considered $100 [bet more if you like]. For all winners they will pay $10 into my bank account [no payment and no more tips].
If any selection doesn't win the customers pay nothing ..can't be fairer than that!

JOIN UP NOW ! :-))

The above should read: '......For all winners they will pay 10% of winning payouts [unitab] into my bank account [no payment and no more tips].

Some interesting points crash.

Punting is a challenge, it's fun, enjoyable, entertaining, frustrating, sometimes rewarding, often not.
Putting the pressure of income dependancy into the mix, with the losses, the run of outs, the poor returns, certainly takes the enjoyment, the entertainment value, the fun out of it.
I certainly agree that there are far easier ways to make a dollar, nothing wrong with treating the punt as a part time salary, but to go fulltime would take all the enjoyment away for me, not to mention the stress level.
The fact that one has to put very large bets on to even make a conservative fulltime income is a level I don't want to be at.
"Professional punters" are regarded by many as having achieved the ultimate, but I certainly don't think it would be an easy life.

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