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Making Money Online with Gambling

Olimac21

Bronze Contributor
Speedway Pass
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Dec 3, 2015
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Belo Horizonte, Brasil
I am very curious to see if someone in the forum has experience making money with betting or playing poker online.

By coincidence today I found a course on tennis trade and although I do not plan to do this full time or imagine this will turn me into a millonaire, I have heard stories of people making a decent amount of money with bets in sports like football, basketball and tennis.

About poker I have no idea how much you can make without breaking your neck playing or taking too much risk for a positive outcome
 

Logomet

Bronze Contributor
Dec 4, 2018
117
139
130
www.blooform.com
You can check Betfair Exchange (not Betfair regular sports betting).

For example, you BACK (buy) odd when it's 1,12 and LAY (sell) when it's 1,90 for example...and you can do it other way around. This is live exchange (betting). You can choose any sport you like. One of the most popular is UK horse racing.

I know people making $60k per tennis match or $3k per horse race.

You can trade in a way to get yourself in the position you win no matter who wins the race/match.

But for good trading you will need a 3rd party software that is approved by Betfair (one of the biggest betting company in the world).

Here is a good video:

View: https://www.youtube.com/watch?v=9lvuk-wgZ8I
 

Patrick Jones

growing
Speedway Pass
Dec 9, 2018
118
321
170
Berlin
I played online poker for several years, from 2008 on I think. You can start out with very little investment and work your way up to higher stakes.

The micro stakes (where you sit down at the table with $2) are very easy, but obviously with only cents at stake, you won't exactly clear a month's rent there. The higher limits ($100 and up) are much tougher and you will face competition with years of experience.

Most important "skill" to have is discipline. You can loose an evening's winnings in a minute of frustrated tilting.

Two good resources on the subject are 2+2 and PS:
Two Plus Two Poker Forum - Poker Strategy Forums
Online Poker Strategy School - PokerStrategy.com
 

Olimac21

Bronze Contributor
Speedway Pass
Read Millionaire Fastlane
Dec 3, 2015
338
408
222
26
Belo Horizonte, Brasil
You can check Betfair Exchange (not Betfair regular sports betting).

For example, you BACK (buy) odd when it's 1,12 and LAY (sell) when it's 1,90 for example...and you can do it other way around. This is live exchange (betting). You can choose any sport you like. One of the most popular is UK horse racing.

I know people making $60k per tennis match or $3k per horse race.

You can trade in a way to get yourself in the position you win no matter who wins the race/match.

But for good trading you will need a 3rd party software that is approved by Betfair (one of the biggest betting company in the world).

Here is a good video:

View: https://www.youtube.com/watch?v=9lvuk-wgZ8I
This is exactly what I was looking for, thanks mate!
 

Olimac21

Bronze Contributor
Speedway Pass
Read Millionaire Fastlane
Dec 3, 2015
338
408
222
26
Belo Horizonte, Brasil
I played online poker for several years, from 2008 on I think. You can start out with very little investment and work your way up to higher stakes.

The micro stakes (where you sit down at the table with $2) are very easy, but obviously with only cents at stake, you won't exactly clear a month's rent there. The higher limits ($100 and up) are much tougher and you will face competition with years of experience.

Most important "skill" to have is discipline. You can loose an evening's winnings in a minute of frustrated tilting.

Two good resources on the subject are 2+2 and PS:
Two Plus Two Poker Forum - Poker Strategy Forums
Online Poker Strategy School - PokerStrategy.com
Thank you! Do you have any books recommendations to get started?
 

Patrick Jones

growing
Speedway Pass
Dec 9, 2018
118
321
170
Berlin

msufan

Bronze Contributor
Speedway Pass
Mar 13, 2013
139
278
168
Yes, skill gaming and advantage gaming have been a $250K+ side income for me over the past 17 years (so only about $15K/year). It can definitely be done!
 

LittleMissFancy

Contributor
Sep 8, 2014
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I am very curious to see if someone in the forum has experience making money with betting or playing poker online.
I've played poker recreationally both live and online for several years and can tell you that I don't personally know anyone currently making a living playing online poker however I know several who play live poker for a living (at a brick and mortar casino). Can it be done online? Sure, plenty do. But the time and energy spent playing, learning, studying, reviewing hands in your poker tracking software, etc. versus what you would likely make, wouldn't make the juice worth the squeeze in my opinion. You'd be better served putting that energy into another business that has the potential to grow into an operation in which you aren't trading your time for money.

Having said that, I enjoy learning the game and the deeper strategic nuances and playing poker as a hobby in my spare time for fun. I look at it as a fun way to have some friendly competition but I also track my results because I like to measure those kinda things! :cool:
 

LittleMissFancy

Contributor
Sep 8, 2014
30
25
45
35
Yes, skill gaming and advantage gaming have been a $250K+ side income for me over the past 17 years (so only about $15K/year). It can definitely be done!
Would you be interested in sharing more about your experience doing this? I'm super intrigued!
 

richRich

Contributor
Jan 28, 2019
54
59
116
Berlin
gocloudgreen.com
I've played poker recreationally both live and online for several years and can tell you that I don't personally know anyone currently making a living playing online poker however I know several who play live poker for a living (at a brick and mortar casino). Can it be done online? Sure, plenty do. But the time and energy spent playing, learning, studying, reviewing hands in your poker tracking software, etc. versus what you would likely make, wouldn't make the juice worth the squeeze in my opinion. You'd be better served putting that energy into another business that has the potential to grow into an operation in which you aren't trading your time for money.

Having said that, I enjoy learning the game and the deeper strategic nuances and playing poker as a hobby in my spare time for fun. I look at it as a fun way to have some friendly competition but I also track my results because I like to measure those kinda things! :cool:
Having played professionally live and offline I just can underline the points made above.

It may be fun at the beginning but can also quickly become a liability and repetitive as time goes by. You may feel sometimes as an assembly line worker. Being on this forum you might be more interested in ways to make money where you don't trade your (night-!) time for money.

Unless you plan a solid business model around that (staking other players, running your own [illegal] games, creating an educational portal/blog/books or building other passive income sources) you can also go educate yourself on something more stable and meaningful, like running SaaS businesses.
Your income will depend on the stakes you play. I had a very good run over one thousand hours in a live casino with 10 big blinds per hour which is a very high rate. Your winrate will drop the higher you go. If you play online you'll have a trade-off between playing many table with a lower rate or a higher rate with a few tables. Just google poker winrates to get a feeling if that is what you want to trade your time for.
 

FreshNash

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Jan 28, 2019
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I'm your man!
Professional Poker Player since 2014.
Currently making 15/20k/month, after years of studying strategies.

I'm planning to quit next year, too much stress and study compared to the money I earn!
 

Jakeeck

Silver Contributor
Speedway Pass
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Jun 24, 2014
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Phoenix, Arizona
Don't do it is my advice. (poker)

I played professionally for a couple years. Made OK money. ^^ This guy right above me is a savage making that much, but not only is it extremely competitive now, but you're also competing against bots and AI that is getting smarter every single day, and those bots don't have emotions -- they don't tilt. They can play perfect poker all day.

Plus, it's not very fun to think about how the majority of your income is coming against degenerate addicted gamblers (the fish) sitting at stakes they can't afford to play.

Made me feel dirty in a way and that weighed on me as time went on.

Long story short, poker is almost dead, don't do it.
 

FreshNash

New Contributor
Read Millionaire Fastlane
Jan 28, 2019
7
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Don't do it is my advice. (poker)

I played professionally for a couple years. Made OK money. ^^ This guy right above me is a savage making that much, but not only is it extremely competitive now, but you're also competing against bots and AI that is getting smarter every single day, and those bots don't have emotions -- they don't tilt. They can play perfect poker all day.

Plus, it's not very fun to think about how the majority of your income is coming against degenerate addicted gamblers (the fish) sitting at stakes they can't afford to play.

Made me feel dirty in a way and that weighed on me as time went on.

Long story short, poker is almost dead, don't do it.
I agree that making 200/250k per year is quite a lot with this actual situation in the poker scenario. The top 5 in the world make only 5M/year (and not legally). I say "only" because the effort needed to climb to the elite is insanely mad!
 

richRich

Contributor
Jan 28, 2019
54
59
116
Berlin
gocloudgreen.com
I'm your man!
Professional Poker Player since 2014.
Currently making 15/20k/month, after years of studying strategies.

I'm planning to quit next year, too much stress and study compared to the money I earn!
So, you are out for our TMF-poker-night. Only solid fish allowed :hilarious:

Does your winrate come from playing online cash game?

Yeah, the stress factor is not to be underestimated: all the highs and lows in addition to the inhuman lifestyle (living at night, f*cked up casino food if you play live or social isolation if you play online etc.) can mess up your hormone system, unless you are well aware of all that and working on your mental/meta game as hard as on your strategy skills.
 
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Conrad

Contributor
May 17, 2017
15
21
17
33
Brussels
I have done statistical experiments with online sports betting. You will lose in the long term, what ever you do. Look for trading & risk management, leverage trading...higher odds & losses can be controlled. You want to win in the long run.

EDIT: The only winner in the long run is the betting organizer :D
 

oa92

New Contributor
Jan 7, 2019
9
6
17
I do matched betting and casino offers.

Matched betting is risk free and is simply taking advantage of bookies free bets (backing and laying opposing outcomes).

Casino offers is taking advantage of the casino offers where they give you free spins if you wager X amount. This relies on the expected value off the offers over a long period of time.

For about an hours work a day you can make about £1000 per month, but I know of some people who spend a lot more time on it and make way more than £1000 per month.
 

Olimac21

Bronze Contributor
Speedway Pass
Read Millionaire Fastlane
Dec 3, 2015
338
408
222
26
Belo Horizonte, Brasil
I do matched betting and casino offers.

Matched betting is risk free and is simply taking advantage of bookies free bets (backing and laying opposing outcomes).

Casino offers is taking advantage of the casino offers where they give you free spins if you wager X amount. This relies on the expected value off the offers over a long period of time.

For about an hours work a day you can make about £1000 per month, but I know of some people who spend a lot more time on it and make way more than £1000 per month.
Exactly I got excited about the matched betting/arbing kind of thing because I saw a guy talking about it on Udemy and in a sport I really like/ understand the odds (tennis).

To make 1000 pounds per month, how much do you actually have to put on matched betting?
 

oa92

New Contributor
Jan 7, 2019
9
6
17
Exactly I got excited about the matched betting/arbing kind of thing because I saw a guy talking about it on Udemy and in a sport I really like/ understand the odds (tennis).

To make 1000 pounds per month, how much do you actually have to put on matched betting?
I make most of my money from the casino offers. The most lucrative matched betting offers are Bet365 2UP, ACCA offers, and the horse racing such as the William Hill 2 Clear offer.

It all depends on how big your bank is on how much you can make, if you put on a big back bet at the bookie you need a lot of money in the exchange for liability.
 

Maxboost

Silver Contributor
Speedway Pass
Apr 4, 2016
398
789
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39
Baccarat is the only game worth playing with a small house advantage of -1% EV. I think it's no different than day trading.

Online poker is the worse game to play since the competition is too good, you are better off playing in a live casino.
 

LA_Jau

Food Entrepreneur
FASTLANE INSIDER
Oct 2, 2018
13
28
29
Ex-low stakes cash table grinder here. Reflecting exactly what other guys here have said, online poker is ridiculously competitive and you need insane robotic focus and discipline to maintain an edge. After playing millions of hands and an embarrassing number of hours on poker, I reckon I could have made similar money working a minimum wage job. = Slowlane

As for sports betting, I had fun 'career' making around £10k to help me through uni. But once again, it is all about the time, energy and focus you waste that could be spent learning how to make REAL money through business. = Slowlane

I only wish I could go back and force my 16 year old self to apply the same focus to entrepreneurship. Sure gambling can be a bit of fun, but as a way of making money, it's an obvious HYPERREALITY meant for the masses.

Hopefully other young men can see this thread to stop them from wasting their time like I did.

TLDR: Spend your time learning business, not gambling for the hope of thousands.

Good luck!
 

FreshNash

New Contributor
Read Millionaire Fastlane
Jan 28, 2019
7
14
18
So, you are out for our TMF-poker-night. Only solid fish allowed :hilarious:

Does your winrate come from playing online cash game?

Yeah, the stress factor is not to be underestimated: all the highs and lows in addition to the inhuman lifestyle (living at night, f*cked up casino food if you play live or social isolation if you play online etc.) can mess up your hormone system, unless you are well aware of all that and working on your mental/meta game as hard as on your strategy skills.
Only online cash game, yeah, and never been a tournament's fan! My main game is Heads up but nowaday it's definitely dead since in this speciality Bots are way too good! I had to switch to 6-max and fullring pretty fast :D

For the stress, you are right, it's quite hard to be balanced! An entrepreneur can focus on his job, follow some basic healty routines and do well. A Poker player who wants to compete in order to make >100k/year need to be F*cking accurate with his lifestyle. I personally have a lot of routines and my life is pretty strict. I meditate, I have a personal trainer for the gym workouts and one for the nutrition+supplements, I have a life coach (not a fake guru, a real therapist) for the downswing periods/burnouts, I live in a sunny city to take a lot of sun. Plus, I work on my strategic game and mental game everyday and I pay a personal coach 400$/h.

I feel that I'm doing too much for 250k/year lol
 

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