We get tons of questions that beat around the bush about being able to become a professional gambler – that is, somehow make money on it. But this question gets right to the direct point:
I am semi-retired, and my wife and I have done ok, not great but ok. We love playing, she is still working for another 2 years then we are both retired. Having said that, I love playing. Can one play and do pretty well, or at least break even. I mean can I make some $ as a gambler? I do not want to lose what we have. Your expert opinion.
Gil
We’ll start with the general answer, and then address some specific cases. Overall, no, you can’t make a living or even stay steady as a gambler. Brian’s certainly among those who people think they somehow make a living playing slots, but playing slots is the means to the various aspects that help generate an income – slots is a money loser for him just like it is everyone else.
Any games of chance are not going to do it in the long term. So most slots, games like craps and roulette where you’re betting on an outcome, it’s not going to be possible.
There are ways with games of skill to potentially make money. Playing perfect strategy on Video Poker, where you can in some cases have access to pay tables that pay above 100 percent either on their own or combined with the comps you earn, could open doors. These are hard to find, but exist.
Then there’s advantage play scenarios, like counting cards at Blackjack or learning about how specific slots work where you can have a better chance at winning.
But it’s important to note in both the Video Poker and advantage play scenarios, it’s usually an increased chance of winning over the long term, but not a guarantee in the short term – you could still lose money even when things are in your favor, just like someone playing Megabucks can be a lifetime slots winner thanks to a multi-million dollar win.
It also can turn casino fun into work, and requires crazy discipline – you have to avoid playing the games that won’t give you that opportunity. If casinos realize you’re doing this and decide they don’t want you to play anymore, there’s examples out there of card counters being banned from the tables or casinos altogether, among others.
So ultimately it’s not something we advise as a retirement side hustle – you should presume the money you bring to the casino is to be spent, just as you would going to a restaurant or attending a concert.
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