How Much Money Do You Need To Be A Pro Gambler?

**20Four7** · 11-05-07, 05:39 AM

Before you even consider bankroll you need at least 6 months living expenses set aside. Then you need your bank roll. If you had 20K for you roll then 1% of that would be $200. Look at what you bet and can you sustain your self off those $200 or so bets. If not, stay part time and build the roll.

Look in the mirror as well and see if you have the mental stability it takes to do this for a living. It's fun to watch a race, game, play poker etc but it is different when you do it for a job. It's a lonely world out there gambling are you prepared for it.

**imgv94** · 11-05-07, 05:42 AM

To make a career at least 50K..

Let's say you make 1,000 wagers in one year betting 2% units and hitting 55% you would make about 45k a year and thats not including any bonuses you may acquire and this is based off of -110 juice too.

Easier said then done of course..

**VegasDave** · 11-05-07, 05:43 AM

Originally posted by 20Four7

Before you even consider bankroll you need at least 6 months living expenses set aside. Then you need your bank roll. If you had 20K for you roll then 1% of that would be $200. Look at what you bet and can you sustain your self off those $200 or so bets. If not, stay part time and build the roll.

Look in the mirror as well and see if you have the mental stability it takes to do this for a living. It's fun to watch a race, game, play poker etc but it is different when you do it for a job. It's a lonely world out there gambling are you prepared for it.

Not going to be a pro gambler any time soon, just curious about the figures.

**Dead Money** · 11-05-07, 05:59 AM

Pretty tough to know how to cap the 4 major american sports, then add on others, soccer, auto, etc.. ****ing brutal.

If you use the figures that Imgv gave, it works out to maybe 650/week usd if you are lucky. Try to survive this day and age of that!!

Also remember you should now be reporting your gambling income to the irs, where you will only lose aprox. 28 %.(.28 x 50k / 52 = $692)

I can tell you that playing poker for a living is a lot easier than betting sports. Doing both works out well though.

**imgv94** · 11-05-07, 06:17 AM

Dead Money,

If one was to take advantage of bonuses and low juice it might be feasible to make a living with a 50k bankroll.

I was trying to lowball it as much as possible.

**jjgold** · 11-05-07, 07:04 AM

Well a sure bet is you will go broke trying to be a pro, no one wins betting sports.

**Skankdog** · 11-05-07, 07:37 AM

You do not need money, just good Credit.LOL

by the way- if you plan on hitting 53-55% of your winners, then you might need to find another hobby. 60% is the number you need to be at. Guys will give you computer breakdown, but what these guys can not do, is see what the juice will run every single play. Remember, sometimes the line stay the same and the juice goes up. So making plays at an average of -112 will get you killed at 53%. Just my thought, but what do I know.LOL

**Doc JS** · 11-05-07, 07:43 AM

Agree with the other responses...

6 months of living expenses to start just like you would in any new business.

And I agree with IMGV, but I'd say a bankroll of 100K.

And of course, there is that matter of picking enough winners...

**HedgeHog** · 11-05-07, 10:12 AM

More than just the money itself, and my bankroll fluctuates between 50-75k (depending on season and living expenses), spread your bankroll among low juice places (BOL, MB), free 1/2 point places (Skybook), a good teaser joint (ABC where ties win), places with adjusted lines and other props (5-dimes,Bookmaker) and so forth. In short, have 8-10 reputable Books to choose from to make your plays. It will help you tremendously in trying to hit a successful win average.

**robzilla** · 11-05-07, 10:19 AM

Originally posted by HedgeHog

More than just the money itself, and my bankroll fluctuates between 50-75k (depending on season and living expenses), spread your bankroll among low juice places (BOL, MB), free 1/2 point places (Skybook), a good teaser joint (ABC where ties win), places with adjusted lines and other props (5-dimes,Bookmaker) and so forth. In short, have 8-10 reputable Books to choose from to make your plays. It will help you tremendously in trying to hit a successful win average.

I agree...Shopping lines is the second most important thing.

**Justin7** · 11-05-07, 10:23 AM

50k is the minimum.

Most pros spend more time trading/shopping than handicapping.

If you're serious, you should learn other ways to make easy money - poker and blackjack among others.

**raiders72002** · 11-05-07, 10:29 AM

Dead Money- Jump in here and tell us some of the World Series of poker stories.

**durito** · 11-05-07, 10:58 AM

I would say you should have enough savings and other investment income so that you can live primarily off of that so you can then grow your bankroll without worrying about having to not be able to pay your bills if you hit a bad streak.

Probably at least $150k.

if you plan on hitting 53-55% of your winners, then you might need to find another hobby. 60% is the number you need to be at. Guys will give you computer breakdown, but what these guys can not do, is see what the juice will run every single play. Remember, sometimes the line stay the same and the juice goes up. So making plays at an average of -112 will get you killed at 53%. Just my thought, but what do I know.LOL

No one doing this "professionally" is making plays at an average of -112

**robzilla** · 11-05-07, 11:19 AM

By the way, if wagering on a game to you is like coke you need help.... that was for JJ. To me this is like work. its better than working in a factory, but there is trade offs. like i dont get benefits. i have to work longer hours. i dont have guarenteed pay check. i have to do all the household shit while the wife is at work...which isnt too bad.

I got my start playing 3 game parlays with proline, which I started in Grade 8. I guess that wouldve made me 12 years old....DAMN! I was making enough money eating chaulk on proline that it was the same as a part time jobs. skills just grew from there.

**pokernut9999** · 11-05-07, 11:28 AM

Originally posted by robzilla

By the way, if wagering on a game to you is like coke you need help.... that was for JJ. To me this is like work. its better than working in a factory, but there is trade offs. like i dont get benefits. i have to work longer hours. i dont have guarenteed pay check. i have to do all the household shit while the wife is at work...which isnt too bad.

I got my start playing 3 game parlays with proline, which I started in Grade 8. I guess that wouldve made me 12 years old....DAMN! I was making enough money eating chaulk on proline that it was the same as a part time jobs. skills just grew from there.

Hey we have the same arrangement with the household chores.

**Ganchrow** · 11-05-07, 11:38 AM

Originally posted by imgv94

Let's say you make 1,000 wagers in one year betting 2% units and hitting 55% you would make about 45k a year and thats not including any bonuses you may acquire and this is based off of -110 juice too.

Just to correct your math slightly, if you're hitting 55% at -110, and are betting 2% of bankroll per bet (that's 36.276%-Kelly), your expected bankroll after 1,000 wagers would be $135,844, and your median bankroll (in this case your most likely finishing bankroll) bankroll would be $113,406.

**Ganchrow** · 11-05-07, 11:44 AM

Originally posted by Skankdog

by the way- if you plan on hitting 53-55% of your winners, then you might need to find another hobby. 60% is the number you need to be at. Guys will give you computer breakdown, but what these guys can not do, is see what the juice will run every single play. Remember, sometimes the line stay the same and the juice goes up. So making plays at an average of -112 will get you killed at 53%. Just my thought, but what do I know.LOL

If you're hitting 60% winners and playing at -110, starting with a $50K bankroll, fully taking juice into account (but ignoring maximum bets), your expected bankroll after 1,000 wagers (using imgv's imputed 36.276%-Kelly figure) would be $246,767,393, and your median bankroll would be $54,678,073.

A person hitting 60% winners at -110 should be quite rich.

**HedgeHog** · 11-05-07, 12:05 PM

Originally posted by Ganchrow

If you're hitting 60% winners and playing at -110, starting with a $50K bankroll, fully taking juice into account (but ignoring maximum bets), your expected bankroll after 1,000 wagers (using imgv's imputed 36.276%-Kelly figure) would be $246,767,393, and your median bankroll would be $54,678,073.

A person hitting 60% winners at -110 should be quite rich.

A person that good, if he exists, would undoubtedly use 105 lines and be even richer. Imagine the collection problems he would have--especially if he lived in the USA. One of my books limits payouts to $2500 per day; I'd be requesting payouts constantly (what a problem to have).

**raiders72002** · 11-05-07, 03:20 PM

No one hits 60%.

**OldZig** · 11-05-07, 03:46 PM

Originally posted by Skankdog

You do not need money, just good Credit.LOL

by the way- if you plan on hitting 53-55% of your winners, then you might need to find another hobby. 60% is the number you need to be at. Guys will give you computer breakdown, but what these guys can not do, is see what the juice will run every single play. Remember, sometimes the line stay the same and the juice goes up. So making plays at an average of -112 will get you killed at 53%. Just my thought, but what do I know.LOL

Not even the best handicappers make 60% over the long run. You hit 53-55% in the long haul and you are doing about as well as anyone out there.

**jjgold** · 11-05-07, 04:29 PM

Just put money in bank and forget it and have guaranteed money

**SBR Lou** · 11-05-07, 05:06 PM

The answer depends on your situation. Comes down to how many mouths you have to feed, if you are not generating income elsewhere you better have enough to get by in savings. And oh yeah, there's always that thing of picking winners.

**imgv94** · 11-05-07, 07:56 PM

60% over 1,000 bets is impossible.

If you can hit 55% you are doing great. If someone is hitting over 58% over a long period of time it's pure luck.

**BigBollocks** · 11-05-07, 08:02 PM

The short answer is it all depends on your cost of living and lifestyle expectations. Obviously you'd need to make a lot more to get by in San Jose than say Billings, Montana. GL...