Can you get rich off gambling? How do you do it?
We all know that gambling CAN make you rich. Whether it involves winning the lottery, hitting a slots jackpot, or winning the World Series of Poker, there are life-changing prizes up for grabs. Take the National Lottery. It’s created more than 5,700 millionaires since it began (and that’s excluding the Euromillions).
Let’s be honest, though, it’s not very likely.
But, is there a way to increase your chances of winning a life-changing amount of money? Yes, and as the old saying goes, “You have to be in it to win it.”.
So, which games should you be playing if you want to become rich?
Play the National Lottery
This is a good choice for those of you who want to be in with a chance of winning a lot of money, but don’t have any gambling skills. All you do is fill in the slip and pay.
A little tip is that your chances of winning are so small, you might as well only buy one ticket per draw. Your odds are barely increased by buying more tickets.
Not unless you can afford to buy ~45-million tickets! Maybe if you won the Euromillions you could buy that many tickets, but to ensure a Euromillions win, you’d have to buy ~139-million tickets!
So, yeah, as far as the odds go, buying 10 tickets is barely any different to buying 1 ticket, and when I say “barely different”, I mean fractions of a percentage different.
Play progressive slot machines
Some of the progressive slot jackpots are HUGE, in the millions. What I prefer about the slot machines compared to the lottery is that the slots are fun. You feel like you’re playing a game and it’s exciting.
The lottery is hardly exciting – you might have fun picking numbers or checking your numbers, but it’s not exciting in the same way that the lottery is.
Get really good at poker and enter the WSOP
Playing poker is one of the only ways that you can consistently make money from gambling. The problem is that you have to be clever if you want to make money from poker. If you’re IQ isn’t up there, your winnings won’t be either.
It takes all sorts of skills to win poker, from mastering the game to controlling your body language. Just watch this ludicrous display of bluffing:
It’s not easy. I couldn’t do it.
But that’s Victoria Cohen-Mitchell in the video. She’s won $2m+ during her lifetime poker play. She’s also a lot cleverer than average.
No matter how clever you are, though, you won’t get rich with poker unless you spend a lot of effort learning the strategies, including the bluff.
Although, there’s always video poker
If you’re the sort of person who can’t help but “leak” information (e.g., you tell people what you’ve bought them for Christmas before they open their presents), then video poker might be the one for you.
You’ll get to put your poker skills to the test, but you won’t have to get into the whole body language stuff.
Sports betting can be a way to get rich
People create elaborate ways to track sports trends, and if they do it well, they can make A LOT of money. It takes a little networking in order to get tips from the inside, coupled with a good grasp of the sports teams/individuals you’re betting on, and an excellent understanding of spreadsheets (e.g. Microsoft Excel), but there’s a lot of money in sports betting.
Sports can be a good way to get rich. I know someone who’s a millionaire now because he got into sports betting. OK, he was selling tips, but people keep paying him for them, so he’s obviously got his system right. Again, he’s a clever person.
Summing it up
It’s definitely possible to get rich from gambling. People do it all the time. Unfortunately, compared to the number of people who DON’T get rich, it’s much more likely that you’re not going to be one of the lucky ones (neither am I).