Online gambling is finding an edge, investing and making money online. Learning how to invest takes time and professional gamblers need to manage their bankrolls thoughtfully, since money management is more than 50% of their work. Investments can go wrong and that will cost money. Casinos, sports betting and poker are regarded by many people as forms of gambling where people ruin their lives and destroy their future. While that is correct for most gamblers, there is a small portion of them who are actually investors, exploiting an edge such as value betting at wrongly set odds, card counting at blackjack tables and making poker decisions that have positive expected value (+EV).
How to invest in online gambling
First you need to find an edge against other players or the house. Depending on the edge, money management rules dictate how much to risk on each investment. For instance, if you are a card counter at blackjack, that gives you 2-5% edge depending on the count. Comparing that edge with the edge you gain playing poker with 8 very bad players, you can quickly understand that you will not need such a big bankroll at poker tables, given you are a very good player. A small edge increases the bankroll’s variance while the opposite is true for bigger edge. However even finding an edge is difficult, let alone a big one! Nonetheless, not applying proper money management will quickly lead gamblers and investors to the poor house, before taking advantage of their edge due to risking too much money.
As a professional gambler, you will need to make preparations before starting your online gambling career. The first thing to do is to allocate a gambling bankroll, which will be set aside of any other living expenses. Losing that bankroll means your gambling activities end, no more day dreaming. Respect your starting capital and never add money when you face a downswing. Lower your stakes and risk less money per bet will do just fine.
Make money online investing
I often get questioned whether you can make a living from gambling. You can make money in online investing as long as you are disciplined, patient and focused.
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