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??