Episode # 126 Make a Living Gambling?

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Show Notes:

Coach Fav explains how difficult it is to make $100,000 yearly gambling and not have any other income backup. In fact, the IRS notes that the number of strictly career gamblers who do not declare any income outside of gambling is very small. Poker and Sports Betting are the areas of casinos where most of these career gamblers work. Outside of Blackjack card counters, few career gamblers make a living from gambling alone. Year by year the number is from 200 to under 1,000 taxpayers. It is almost always closer to 200 than 1,000.

Coach Fav lists how many gambling decisions per hour occur in the main table games and the House Edge a player faces in several popular games. He then gives examples of mistakes most of us make in gambling at casino table games.  He warns that betting systems that describe gambling with “house money” – “casino money” neglect to state that betting “house money” really means gambling with your profits. Coach recommends the John Marchel’s “Guide to Gambling” book, which goes  deeper into this topic.

Craps Talk: Here’s an inexpensive Regression Craps betting system.  REGRESS-PLACE-PRESS. As with any system there is not a guarantee to make money, but Coach Fav believes using this $36 initial bet regression, one has a very good chance of being successful. The decision to press and how many hits before you come off or down, comes down to  your own judgement and risk tolerance.  Remember it is the TAKE HOME MONEY that’s most important.

Odds and Ends: Janie presents a variety of important tips. She explains that the loss of the American Casino Guide make the Las Vegas Advisor REWARDS BOOK by Anthony Curtis all the more valuable, Janie makes the case that the dark days of winter are a good time to plan future casino resort trips. For example, she already has booked a casino hotel for the October college football game at Allegiant Stadium between Notre Dame and BYU. She is working on booking beach casino hotel locations for NASCAR, and shopping for antiques. It’s the Belterra in Southern Indiana.  She lists other possible casino resorts that offer such nearby attractions. Janie closes by talking about advantages of having an MLife Credit card. She encourages our listeners to check to see if your hotel choice in Vegas has an adequate sized pool with “Complimentary” pool chairs – important for the family that does not want to pay from $20 to $100 a day for pool chairs. Janie always wants a large pool to swim in because she is a power swimmer and likes to really swim.

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