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Best Ways to Get Rich Gambling – Win the WSOP and More
Can gambling make you rich?
The short answer is yes, it can. Many people around the world have made a fortune from gambling. But that doesn’t guarantee that you can. Even if you own the best “how to get rich gambling” blueprint, the risks of losing are still present.
Now, I don’t want to be a bore here, but I must point something important out before we start — most people will not get rich from gambling. Much has to do with luck, but there are also more practical reasons to consider here. Casinos stack the odds against players, right? Poker players face the rake, which makes things tougher. Sports bettors must deal with the vig, etc.
But some people do beat the odds and win big. From hitting a large slots jackpot at the top online casinos to landing the Powerball lottery, someone must win. And it could happen to you. There are ways to get rich from gambling, and your chances of winning will increase exponentially if you’re partaking!
You’re here because you want to know how gambling can make you rich—no shame in that. I hope this will outline the numerous ways any John or Jane Doe can transform their life with one wager. Or perhaps even in a way that might trigger the next big thing in the mind of any reader.
But it’s also good to remember that trying to make a living from betting is not for everyone. By its very nature, the risks involved mean that gambling must always be treated as a risk. I’ll explain that in greater detail as we go along.
Can you get rich from gambling? Join me as I run through some of the likeliest ways you could.
You Could Win the Lottery
There are no foolproof ways to win a fortune through gambling. So, the next time you come across anyone trying to sell you a sure-fire way of getting rich via gambling, remember that.
Perhaps no one way of getting rich while gambling is as mocked and parodied as playing the lottery. Known as the “poor man’s tax,” your chances of winning the lottery depend on the one you are playing. If it’s a national lottery, the odds will be astronomical.
Winning the lottery is the least likely way of getting rich from gambling, but it’s possible. People win the lottery regularly. And even if the odds are slim, the cost is low! So, for the casual gambler, playing the lottery is — and will almost certainly endure being — an acceptable vice that carries little risk but a staggering potential reward.
Most American states now offer a lottery. And many of them offer Mega Millions and Powerball, which offer the biggest life-changing jackpots. While you might theoretically get rich playing scratch-off tickets, winning Mega Millions or Powerball is what dreams are made of. And like most dreams, the odds of them coming true are slim.
The lottery is perfect for getting out of the way first, especially for those wondering, “can gambling make you rich?” Unlike other ways to get rich gambling, this is almost certainly the most lucrative in the short term, as the odds are so high. But do you know just how low they are, though?
At the time of writing, your odds of winning Mega Millions is 1 in 302 million. I could list several potentially strange and exciting things that come with better odds, but I won’t waste your time nor insult your intelligence.
Again, you can win the lottery. But there’s no real strategy or methodology to winning. You could play every game there is and still never win the jackpot. This is the risk involved. As an alternative, you could look to minimize the odds, perhaps by playing smaller community lotteries. Or even state-run versions.
With that said, you could learn everything about how US State lotteries work and still be like, “Nah, not for me.” Even if it is a fast way to get rich gambling, the odds are against you.
To say the least!
You Can Hit a Progressive Slot Machine Jackpot
Can you get rich gambling from playing progressive slots?
Yes. You can. Even better, winning a progressive slot machine jackpot is far likelier than winning the lottery. All sounds good, right? It does. But it must also be pointed out that the odds of getting rich from traditional, progressive slots are still considerably long.
The topic of how often progressive slots payout is always one that gaming enthusiasts like to entertain. There is a strange ambivalence between wanting better odds but also desiring to be the one who overcomes these huge odds!
When you’re dealing with it all stacked against you, it’s almost useless to compare them. Either way, your chances of winning are small. But if you dream of winning life-changing sums of money and want a better shot than the Powerball or Mega Millions, then progressive slot machines are worth considering. They also offer a couple of other advantages over playing the lottery.
- You can play any time and get instant results
- You’re more likely to get some small wins along the way
- There is a wide range of different games to choose from
- The emergence of new progressive slots jackpot games has made it easier to win a jackpot
In 2020, a lucky Canadian player scooped CA$16,496,347.95 — which is just under 13 million US dollars — while playing Mega Moolah on Jackpot City.
Does gambling make you rich? This would suggest that it can, certainly. But while no one with sense would suggest that lotteries or progressive slots are a clear pathway to gambling riches, they are possible ways to win big. Like the lottery, this is a quick path to wealth and an unlikely path to wealth.
That has changed somewhat with the advent of new progressive slots recently hitting the market. The following two are certainly worth looking at.
Now, if you’re looking to join the list of the biggest progressive jackpot winners of all time, it’s unlikely that playing the variants above will get you there.
The traditional, colossal progressives are the ones to target if you want mega wins.
Of course, you can find those still going from strength to strength at the top online casinos for slots. If you’re hoping to win big with a major progressive, you can find somewhere to take a shot below.
You Can Win the World Series of Poker (WSOP)
Of all the ways to get rich by gambling that we have covered so far, this might raise some eyebrows.
I mean, have you ever wondered how hard it is to win the World Series of Poker? If so, you’ll know that no mug with a buck and a lottery ticket will get there. But hypothetically speaking, winning the WSOP will make you rich!
Here’s a look at the biggest winners in the World Series of Poker History.
- Jamie Gold – 2006 WSOP Main Event – $12,000,000
- Hossein Ensan – 2019 WSOP Main Event – $10,000,000
- John Cynn – 2018 WSOP Main Event – $8,800,000
- Jonathan Duhamel – WSOP Main Event – $8,944,310
- Scott Blumstein – 2017 WSOP Main Event – $8,150,000
Comparing getting rich gambling in poker to doing so on the lottery might seem redundant.
After all, one is a game of skill while the other involves absolute luck. The former does, to some extent, but it’s much more of a game of skill than the lottery. This makes the odds a little tougher to work out. But let’s give it a shot.
There were 8,569 individuals in the field playing for the main event prize at the last tournament at the time of writing. If you argue that all players are equally skilled, the odds of winning the WSOP come in at 8,569 to 1. That sounds much more appealing than trying to get rich playing lotteries, no?
The only problem here is that you and I know the field is comprised of a mix of players with varying skill sets. So, it’s something we can’t quantify. But if you want to get rich gambling on poker, you can chop away at those odds to win the WSOP by working on your game.
The best place to start? I’d recommend the following guide!
You Can Make a Million Dollars Playing Video Poker
This has been done before. That doesn’t exactly mean it still can be achieved, however.
Bob Dancer wrote a book called Million Dollar Video Poker in 2003, which recounts his exploits of winning a ‘mil’ in Las Vegas from September 2000 to March 2001. Dancer and his wife, Shirley, started with just $6000 in this video poker memoir. Dancer would later release more books that were more strategic in their subject matter.
To break down what it takes to win a million playing video poker could be done the easy way or the hard way. The easy way is to win 2.5 jackpots on $100 per-hand games on machines with a top limit. As the payout for a royal flush comes in at $400,000, the math does itself.
But can you get rich playing this game? Or were the Dancer’s exploits just down to luck. I have provided some advice for winning consistently at video poker, but I would be surprised to see anyone enjoy the same success as Bob and Shirley.
Although video poker variants come with some of the lowest house edges in casino gaming and sometimes with positive edges when played with optimal strategy, finding these machines is tough. They will likely be low-stake games even if you locate one or two. Progressive jackpot poker games are an alternative, but they are usually tough to get a seat at.
You can win tremendous amounts of money playing video poker. But it’s going to take a lot of time and effort. So, get reading!
You Can Count Cards in Blackjack
Can gambling make you rich if you learn how to count cards, you ask?
Potentially. But let’s be clear — you’re going to struggle to get rich quickly this way. Saying that, if you’re looking for a strategy for getting rich at gambling where you have better odds than hoping to win the lottery, counting cards might be just the ticket. It does depend on a few factors, however.
One is that playing on the top real money blackjack apps, while having many perks, will not favor a card counter. As card counting works by estimating the ratio of high cards to low cards in the deck, it’s impossible to do with Random Number Generator (RNGs) games. And not easier with live dealer blackjack, either.
With more high cards (10s and aces) in the deck, you have a better probability of getting a blackjack. And since a blackjack pays off at 3 to 2 instead of even money, you can get an edge by raising your bets when the deck is favorable. This means that counting cards can give you an edge of 1% or 1.5% over the casino, but it will not guarantee you a winning session or even a winning week or month.
Remember, your edge works like the house edge. It’s a long-term expectation, which means the more time you put in and the more hands you play, the more likely you will see that expected return.
What does the hourly wage for a card counter in blackjack look like? It varies, but it’s relatively easy to predict a long-term expectation. Just multiply the average bet size by your estimated edge and then multiply that by the number of hands per hour you play.
Let’s assume you have an estimated edge of 1% versus the house, and you play for an average of $100 per hand. If you get in 60 hands per hour on average, your long-term hourly win should look like $60/hour. To make a million dollars at $60 per hour, you need to put in 16,667 hours. This means if you played blackjack full-time (40 hours per week), it would take well over eight years to earn a million dollars.
And that’s if you keep all your winnings.
If you need to spend some of those winnings to live, it will take a long time to accumulate that fortune. You could up your average bet to $1000, but you’d need to be rich to have a bankroll large enough to avoid going bankrupt in the short run. Some card counters and advantage players do get rich playing blackjack. But it’s not typical.
Card counting in blackjack is a grind and a slow way to get rich. But don’t let that stop you from trying!
You Can Bet on Sports Professionally
Numerous gambling experts recommend betting on sports to get rich. Will everyone betting on sports for money make money doing so? No. They won’t.
And that’s why there are so many gambling sites out there willing to take your bets. But if you want to be a professional sports bettor, it’s time to stop asking, “can you get rich off gambling?” and educate yourself on how to make it work for you.
There are tons of sports you can bet on to make money. Here are some of the ones favored by professionals.
- Horse Racing
Of course, the key to being a successful sports bettor is not to focus on the ones above. It’s to find your niche and excel in that area.
Regardless of the sport you are betting on. However, there are some things that you should be looking out for. The most important of them all is learning how to find value in betting odds. This is the only real way to make money from sports betting in the long run.
Remember, bookmakers are not providing a public service. They’ll take your bets, but they ensure that things are ultimately in their favor. They set the odds and lines, and they do that in a way that gives them a built-in advantage.
To get rich from sports gambling, you need to be putting an enormous amount of money into action each week. To pull that off, you’ll need multiple accounts with multiple bookmakers. The real pros who are making lots of money betting on sports employ runners to make their bets for them.
Once a bookmaker, online or off, realizes that you’re a sharp sports bettor, they’ll limit the amount of action they’ll accept from you. If you can find ways around that, you’ll be on your way to gambling riches.
Like the gambling games where you can get an edge (blackjack, poker, and video poker), sports betting is a slow way to get rich. But it can be done.
I’d recommend following our in-house betting experts and tipsters to get the best insight into sports betting. You can do so by regularly visiting both our sports betting blog and picks sections.
You Could Get Into the Casino Business
Instead of playing to make millions, have you thought of creating one of the best new casinos online?
Given that the house edge you were up against as a player would be working in your favor, it could potentially be a more lucrative endeavor. Failing that, you could consider opening the doors to your own casino and gaming resort? Sure, buying your own casino might be beyond your means right now, but that might not always be the case.
Another alternative is to buy a stake in an existing casino. It turns out that this is easier to do than many think, given some casinos in the United States and beyond are public companies. This means you can buy shares of these companies on the stock market and have a tiny percentage ownership stake in them.
Can you imagine how pissed you would be if you owned a casino in, say, a certain former Portuguese trading post in China? With Macau’s gambling law changes set to wreak havoc on existing operators’ plans, you would not be happy at all.
So, perhaps looking to start your own casino business might be a better idea if you have the means, the nous, and the drive. It won’t be easy, of course. But before you see another post titled “can casino make you rich” from someone who knows not what they are talking about, consider the potential wealth that could be made.
In 2018, sports betting became legal in the United States following the decision of the Supreme Court to strike down a federal law on gambling. That has opened up so many possibilities for investors and would-be creatives to tap into what is a colossal industry.
Could it be worth a shot?
You Can Write and Sell Books About Gambling
Sharing your expertise could be a great way to make some passive income if you want to write and sell how-to books.
Perhaps you’ve already put ink to paper on your first book, “Can gambling make you rich?” I hate to break it to you, but that’s not the most imaginative topic. You’ll need to think a little outside the box, so to speak. Then, of course, you’ll need to consider how you want to publish anything you feel will be a hit.
There is so much information out there regarding self-publishing books. By self-publishing, you’re eliminating all the other hands that the profits go through before they get to you. If you can get the books manufactured for $5 a volume and sell them for $30 a volume, you’re looking at a $25 profit per book. Putting the numbers together, selling 40,000 books would make you a million.
If that sounds like a lot, it’s because it is a lot. I don’t think you can make a million dollars selling one book about gambling. I think it’s realistic to think you can sell 200 to 400 books per year, however. Your income stream will grow with every book you publish if you write multiple books.
If you publish two books a year, which is realistic if you’re dedicated and willing to hustle, you’ll have ten books for sale in five years. If you’re selling 200 of each of them, you’re looking at 2000 sales per year. At $25 profit per book, that’s $50,000 a year.
Not bad at all.
It’s a slow way to make a million dollars, but it’s also a means of growing your income like a snowball. Every year your income grows until you finally reach your financial goals.
Anyone with knowledge of this way to make money from gambling, or your gambling expertise, might suggest self-publishing. There are so many YouTube videos on publishing you could use, such as the one above.
Furthermore, an example of someone who knows what they are talking about on this topic is John T. Reed. Reed’s excellent self-published volume, How to Write, Publish, and Sell Your Own How-To Book, is a great place to start. I recommend checking it out if you’re wondering if you can get rich from gambling by writing about it.
Writing a gambling book is probably one of the most realistic and attainable ways gambling can make you rich. Period.
You Can Become a Professional Gambling Coach
“Can you get rich off gambling?”
Imagine being in a position where you are the one to answer that question. And providing you can substantiate your answer with evidence, you could use your existing skills to show others how it is done. For example, you could advertise your services and be in for a prospective client anytime someone decides to Google “Best poker coaches near me.”
Now, it would be both foolish and downright silly to be advertising services you don’t have. It might also land you in hot water. But if you’re slamming the local competition at poker tournaments or even highly well-versed in how to find the best casino bonuses online, there is a chance someone, somewhere, could do with your services.
There is nothing worse in this world than a charlatan, of course. So don’t flip people off for free content that they can find online. I mean, there is probably everything you need to know about any sport or casino game on this site that we offer for free. It wouldn’t be wise to force someone to cough up their hard-earned cash for that.
But if you can help someone understand a game better, or coach them to a point where they are capable of growing from your advice, go ahead! Make money from gambling experience. Get some additional beer tokens by using your skills in a way that helps others.
Many good poker coaches charge around $200 per hour. It’s probably unrealistic to think you can stay booked for 40 hours a week coaching poker players, but if you can, that’s $8000 per week. That’s 125 weeks to get your $1 million, which falls short of three years. Of course, this assumes that you’re not spending any of those fees on your living expenses. If we assume you need to spend half of that money on living expenses, you’ll still be a millionaire in a few years.
Unlike many professions, you don’t need any kind of degree or certification to be a poker coach. You just need a marketing engine to send you customers. All of this can be researched and picked up relatively quickly.
Being Realistic with Your Gambling
Although there are numerous potential ways to get rich from gambling, the odds are against you.
Fortune might favor the brave. Then again, possessing such a cavalier attitude at the craps table might lose every chip you have on the table. Betting, in any capacity, is something never to be taken lightly. While taking a significant risk can be rewarded, it can also blow up in your face.
Does this mean you should call the dogs off in your pursuit of making a fortune from gambling? No. It’s just a healthy reminder to stay vigilant. The temptation to ‘throw it all on black’ might be strong, but is it a good idea? The same concept applies to handing in your notice at work to write “12 Gambling Secrets of Ancient Aliens” or moving to Monte Carlo to become a blackjack guru.
Due to the nature of how the internet works, “professional” gambling tips are ten a penny.
But never trust anyone who believes there is a proven way to win when betting because such a thing does not exist. The gambling industry is just that; it’s an industry. And like all industries in a capitalist society, they rely on exceeding last year’s profits to please shareholders. Where do you think these profits come from? Right.
Start slowly. Find your feet. Learn to walk before you run. Sure, the conservative approach might not be as sexy or exciting as throwing all the chips down in one fell swoop, but the odds will be against anyone brazen enough to treat gambling as a joke. If you’re gambling for real money, that is.
Before you catch the next Greyhound to the Las Vegas Strip in search of your first million, have a word with yourself. Take it slowly! And I’m not suggesting asking the driver to ease off the gas! Sample some games with safe online casinos you can trust. Play for small stakes, or start with some of the free demo games for players who sign up with these casinos.
For reference, I’ve been in the industry for years and still try some free-play slots demos before I buy. I know Bovada has some excellent ones to try out and other casino games you can sample gratis. Or for small stakes, if you’re playing for real money!
Can You Get Rich Gambling in Other Ways?
Can gambling make you rich? Yes, it can. But remember that there is always a risk involved, whatever way you want to look at it.
Many famous gamblers made millions in sports betting, poker, and casino games over the years. There are plenty of sports betting millionaires you can learn from who crushed it over the years. If you have a genuine interest in making money from betting, I’d recommend reading into their stories.
But has the ceiling for making money from gambling been lowered? Some might suggest that it has. I don’t. In fact, on the contrary, I believe there are plenty of ways you can make millions in the gambling industry.
Another, perhaps more important over the past few decades, is the ability to spot an opening. The online casino and sports betting industries are full of success stories about those who got on the next big thing.
I will not be sharing my exact secrets of how I intend to join the pantheon of these greats. But I will say that there are multiple opportunities to make money from gambling that exist right now and will be available to jump on in the future.
For now, consider brushing up on your knowledge of casino games to give yourself that edge. Who knows when it might come in handy?