It may not be easy, but it is possible to make a living as a professional gambler. Before making this kind of commitment, however, be sure that you know just what it takes to walk away from a consistent and dependable day job to move out into the world of the unpredictable paycheck. Most professionals save up to ensure that they have at least one year’s worth of living expenses before making the commitment. There is plenty of stress and anxiety surrounding gambling without needing worry about from where the family’s next meal will come.
Advantages of Being a Professional Gambler
Being a professional gambler is a lot like being self-employed. You get to make your own hours, work when you want to work and for the most part you don’t have to answer to a boss. Aside from visions of winning millions of dollars, the independence of the profession is probably what draws people in and makes this career option appealing. This is not a 9 to 5 job that requires a time card. Most of the time, a player is completely independent and has the ability to pick and choose the amount that he or she works. It could be live online blackjack in the morning and something completely different in the evening if you want.
Being a professional gambler also comes with some of the tax benefits that a self-employed person or independent contractor would enjoy. Losses are calculated to detract from tax liability and all expenses related to gambling including travel, food and even networking is often a tax write off. It is important to keep accurate records of all wins, losses and money spent to ensure that when tax season comes around, you have everything you need.
While these benefits are great, there are very few people that have the ability to become a professional poker gambler. People watch TV and see men and women walking away with large sums of money for sitting at a table and playing cards. They have no idea that one win is not enough to make a person a professional. That win may only cover the losses from other games earlier in the month or year. It takes discipline, determination and a considerable savings to get started.
Disadvantages of Being a Professional Gambler
It takes a lot of money to get started in professional gambling. Most players set aside money that will support them throughout the year in case they go through a losing streak. Even with money saved, each time a person joins into a game, he needs to pay some money upfront. The more money the players front, the more money the jackpot is worth. In this case, you need to have money to make money.
This means that you need to have a considerable amount of money before you declare yourself to be a professional. You can use gambling to accumulate your money and get the experience you need to be a professional, but don’t leave behind all of your other options until you are sure that you can sustain yourself.
Stress is often another drawback to the life of a professional gambler. If you spend one night playing live roulette and lose it all, the worries start immediately. If you have had a bad luck streak, there is a chance that you could go an extended amount of time without any type of payoff. Most people expect a regular paycheck and they depend on the consistency. When you are a professional gambler, you could go months with no wins but are still steadily using up your cash reserve.
It is possible to become a professional gambler and leave a desk job with all its benefits to take on cards at a table. It isn’t easy and many people will try and fail, but the opportunity is out there.