How To Be Rich Through Gambling

4/5/2022/ Comments off

How To Be Rich Through Gambling Rating: 3,8/5 6666 votes

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We all think about it sometime – somehow finding a trick, shortcut or secret method to getting rich quickly. Gambling is often considered by enterprising millionaires-to-be because gambling offers the allure of massive cash payouts in a short amount of time. The question, of course, is if it’s possible to get rich gambling.

So is it?

Yes, it is possible to get rich gambling and I’m going to show you a few methods for getting rich gambling. I don’t want to waste your time so I’ll tell you up front that none of the following methods are easy or simple. If everyone could get rich gambling, well, you know… everyone already would be rich.

Open a land-based sportsbook in a country where it’s legal to do so. Become an illegal bookie and serve your local neighborhood. Open an online sportsbook or betting shop in a licensed market. Launch an online sportsbook in an offshore market. Gambling wins are reported on the front page of Form 1040 for tax years 2017 and prior. Gambling wins are reported on Schedule 1, Line 21 for tax year 2018. All gambling wins are required to be reported even if the casino doesn’t report the win to the IRS. Gambling wins are reported on a W-2G for. A 2019 YouGov poll reports that despite 13% of Americans make over $90,000, only 44% of respondents to the survey said someone making that much money was considered “rich.” But 56% of survey.

The good news is that at least one person has used each of the following methods to make a fortune gambling. People have (and do) use all of the following methods to get rich gambling. It’s not easy but it is very possible. In fact, I’m using one of these very methods myself to build my own fortune.

Count Blackjack at a Live Casino

Blackjack is one of the only games in the casino in which it is possible to gain an advantage over the house. The key to winning in blackjack is to learn how to count cards. Card counting involves keeping a running count of the high cards and low cards that appear on the table. This allows you to know when the deck is rich in high cards. When the deck is rich in high cards, you have an advantage and can then increase the sizes of your bets.

Card counting itself is pretty simple. I don’t want to get into a whole discussion about how it works here, but you can run a few quick Google searches to see how to keep count. It’s really not difficult at all. The difficulty in card counting is actually getting away with it.

Casinos also keep track of the current count and if you frequently place bigger bets at the right moments, the casino will know. It is not illegal to count cards, but casinos do have the right to kick you out in some states. So, you have to find ways to cover your play, such as playing with a team.

Play a Smart Video Poker Game

Video poker is another casino game in which you can gain an advantage if you play correctly. In certain cases, video poker machines return more than 100% when you play with perfect strategy. There are numerous resources on the internet that explain exactly how to play every single hand for every single video poker variant.

The difficulty in playing video poker for a profit is that every machine is a little different and you have to play with the perfect strategy 100% of the time. Video poker does require some serious volume as well, because the advantage is found over the long term. Royal Flush jackpots account for the player advantage, and that means you have to play a lot before you reach the full potential of player advantage.

Further adding to the complication is the fact that not every video poker machine can be beaten. Only certain video poker variants with the right pay tables can be beaten by the player. In some cases, the advantage comes from clearing bonuses or taking advantage of player comps.

Entire books have been written on beating video poker, so I’m not going to try to cover everything here. A great resource for getting started is the Wizard of Odds video poker page.

Start a Brick-and-Mortar Casino

The best way to make money gambling is to make money off other people gambling. Casinos reap in heaps of cash via gamblers, food, drinks, entertainment and hotel rooms. The gambling industry has taken a bit of a hit during the recent recession, but it’s still alive and well. They say that gambling and entertainment are the only recession-proof industries.

Obviously, there are a few challenges with starting your own casino. First of all, you’ll have to talk to a lawyer to work your way through the legal process for starting your own casino. The casino industry is regulated and protected to death. You will face a long, uphill battle in the beginning. If you can maintain the fight, the rewards will be great.

Casino mogul Sheldon Adelson is a great example of getting rich via gambling. As the Chairman and CEO of Las Vegas Sands, it is estimated that his personal fortune exceeds $20 billion.

Start an Underground Casino

If you can’t get a license to own a casino legally, the underground casino is always an option. This is actually a pretty bad idea though because it is highly illegal to run an underground casino in most countries. Additionally, it’s tough to make a lot of money while remaining under the radar.

Having said that, I do know of a few people who have made a lot of money with underground casinos. I wouldn’t recommend this method to anyone, but it makes the list simply because people have made money off underground casinos.

Start an Online Casino

If you live outside the US, an online casino may be a better option than running a brick-and-mortar operation. Online casinos are cheaper to start than traditional casinos and they generate cash quickly. You can build your own gambling site from scratch or use a white-label solution for the software and payment processing.

There are two obstacles to overcome with an online casino. First, you must figure out the legality of running an online casino in your country. In some countries, it’s pretty easy to start an online casino. You just need to get a quick certification and you’re good to go. In the United States, it is illegal to run an online casino at all.

The second obstacle to overcome is the competition. The ease of starting a gambling site has led many people to open their own casinos. You will have to fight to bring business to your casino. I recommend starting an affiliate program, connecting with website owners via online marketing forums and running a reputable organization.

When done right, online casinos can be hugely profitable. The operating costs of online casinos are minimized because there is no building to keep up, no dealers to pay, customers to clean up after and so on.

Become an Online Casino Affiliate

This is the path that I have taken to get rich gambling and it’s the path that I recommend to everyone else. Casino affiliates make money by referring players to online casinos. Every player that you send to a casino is tracked to you and you receive a percentage of that player’s losses.

For example, let’s say I send a player to Buzzluck Casino. If that player loses money at the casino, I keep a percentage of those losses. I know this may make me sound like a bad person, but that’s how every gambling website works. If it helps any, I always give honest reviews, never recommend bad casinos and I always give players legitimate gambling advice.

Anyways, most online casinos have affiliate programs that you can join for free. Just visit the casino’s website and look for a small text link that says “affiliates.” After you sign up for the affiliate program, you can log in to your account and receive special links that you can post on your own website or blog. Any time someone clicks on one of your links and signs up, that person is tagged as one of your players.

The reason I chose this path is because it requires the least upfront investment. I didn’t have to spend thousands of dollars practicing card counting or setting up an offshore gaming site. What makes it difficult is that there is a lot of competition. You have to be willing to put in a lot of work before you get any return.

Gambling has been part of the world system almost since the creation of the world.

In the earlier days of our existence on the planet earth, human beings usually desire to know future, so they result into divination. Some others had to use lot or dice to decide which is wrong or right.

Bible has some traces of how people used lot to divide properties, i.e., the soldiers who used lot to decide who will go with Jesus` clothes.

Either dice or lot, there was never certainty.

As human race advanced, gambling too got advanced.

Now to 21 century. Gambling has grown up in wing. Now every single day, millions of naira are wasted and gained through gambling.

So many people who will read this tutorial are gamblers, especially football gambling.

I have earlier written a tutorial where I explained 5 reasons why I hate football and one of those reasons is because football makes gambling more popular.

Football has become the most popular hobby of man (did I call it hubby or a time water?), so you`ll see many online portals which are specialized on football bet.

Our question is, can you become rich through gambling?

The answer is… NO. it`s not possible.

The first time I was exposed to gambling was when I was around 13/14. I continued in the act and grew in addiction.

At a point in time when my father gave me money to pay for my WAEC examination, I gambled with it and nearly lost all the money I wanted to use for my examination.

I have also managed a gambling business alongside with my step-brother, then I saw who actually is making money through gambling… the owner of the game (or online portal) you use to place bet.

Take for instance, there was a game we usually call Snocker when I was a boy. I will be in charge as people come and play. Along the line some of them will place bet. Let`s say they are betting with #100 each, I may charge #20 as my on commission.

Both of them are gambling so they cannot tell who can win, but I was not gambling. I would always get my own interest… 20%

So think about what usually happen.

Mr. A wins the first game, Mr. B wins the second and third game. Mr. A wins the fourth game. On and on like that. A will win, B will win.

At the end of the day if they had play 20 games, they might have won 13/7. Though Mr. A would be happy of winning more bet than his opponent, they are still coming back tomorrow. When they came the next day, it might be the time of Mr. B to score 15/5.

A may win today and B win tomorrow, the only person who doesn`t lose is the owner of the game or the portal.

That is why gamblers cannot be rich through gambling.

If you win today you will lose tomorrow.

The primary motivator of gambling is call Mr. Covetousness.

When people think there could be a way to make money without work, that`s covetousness.

In fact, I recently read a comment on facebook from someone who claimed that gambling is good because gambling is just like acquiring shares of a company.

Is that true?

Lie.

Acquiring a company`s share is like partnering with that company to do business. Everybody in Nigeria can acquire share and make money because we are doing business.

Gambling is not business. It`s a kind of “collect from K and give to M stuff”. Someone must lose in gambling for another person to gain. This is not so in the case of acquiring share.

When I replied that man on facebook, I went to the spiritual aspect of this deadly, addictive habit (you know I am an evangelist), but I will not want to do that here.

The summary of it all is, you cannot become a millionaire through gambling. If you have being gambling before, you understand what I am saying… you`ll lose one day and win another.

Some internet “guru” are out there promising that they can teach you how to make millions through football betting. If it were real, they would never have told you their “secret”.

How should I round off this tutorial?

Ok, let me preach to you.

Never go into gambling. If you`re already a gambler, repent.

The surest way to make money is to be a business owner.