Top Professional Gamblers

Medically reviewed:06/22/2018
Last updated: 04/17/2020
Author: Addictions.com Medical Review

• Professional Gambler That Goes By Krackenhower
• Professional Gamblers List
• Top Professional Gamblers
• Top Professional Gamblers In Vegas
• Top Professional Sports Gamblers
• Irs Professional Gambler

• The best online gambling sites in 2021, ranked by experts. Legit, honest reviews of top rated betting sites, online casinos and other gambling websites.
• Riverboat Gamblers is an American punk rock band originally from Denton, Texas, formed in 1997, now residing in Austin, Texas.The band's current line-up comprises vocalist Mike Wiebe, guitarist Fadi El-Assad, guitarist Ian MacDougall, bassist Rob Marchant and drummer Ian Walling.

The desire to buy scratch tickets, play slot machines, and visit casinos aren’t necessarily signs of gambling addiction. But when the desire to gamble becomes overwhelming to the point you can’t stop thinking about it until you gamble on something, may be a sign you need help. In short: Keep as much money as possible from free bets. Matched betting is the.

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What is Gambling Addiction?

Gambling addiction or gambling disorder is defined as persistent and recurring problematic gambling behavior that causes distress and impairs your overall livelihood. Gambling addiction affects roughly 0.2% to 0.3% of the general U.S. population, and tends to affects males more than females, though this gender gap has narrowed in recent years. Gambling disorder is a behavioral addiction that can be effectively treated using a range of cognitive and behavioral therapies.

The desire to buy scratch tickets, play slot machines, and visit casinos aren’t necessarily signs of gambling addiction. But when the desire to gamble becomes overwhelming to the point you can’t stop thinking about it until you gamble on something, may be a sign you need help. Those who suffer from gambling addiction will continue to gamble despite negative financial, legal, and social consequences.

Gambling disorder is a brain disease that can cause you to do things you wouldn’t normally do if you weren’t suffering from addiction. Behavioral addictions like gambling disorder are often difficult to manage and control without getting professional help. Addiction treatment centers can help you overcome gambling addiction and teach you important skills aimed at helping you repair problems in your life caused by your disorder.

What are the Signs and Symptoms of Gambling Addiction?

There are no physical health symptoms associated with gambling disorder. Familiarizing yourself with common gambling addiction behaviors can clue you into whether you or a loved one may need professional help.

Chasing after losses is the most common tell-tale sign of gambling disorder. This particular symptom is marked by the urgent need to continue gambling to earn back a loss or series of losses. Individuals diagnosed with gambling disorder may abandon their usual gambling strategies to win back all losses at once and may lie to family, friends, and therapists to hide the severity of their addiction.

The following behaviors are potential signs of gambling addiction:

• Needing to gamble using increasing amounts of money to achieve the desired rush and excitement.
• Feeling restless or irritable when trying to reduce or stop gambling.
• Inability to control, reduce, or quit gambling despite numerous repeated attempts.
• Preoccupation with gambling, such as devising ways to get more gambling money and reliving past gambling experiences.
• Gambling when experiencing feelings of distress, helplessness, guilt, anxiety, and depression.
• Chasing after your losses to get even after losing money gambling.
• Lying to conceal the severity of gambling behaviors, and the addiction.
• Loss of personal relationships, job, and educational pursuits due to gambling.
• Replying on others to provide money to resolve financial situations caused by gambling, such as a threat of eviction from the home.

Those with a mild gambling addiction may exhibit between four and five of these behaviors, while those with a moderately severe gambling addiction may exhibit six to seven of these behaviors. People who suffer from severe gambling addiction will usually exhibit all nine behaviors. Moderate to severe cases of gambling disorder tend to be more common than mild cases.

You might have a gambling problem if:

• You feel compelled to keep gambling until you’ve spent your last dollar. You may keep bidding until you’ve spent everything to win your money back, or you continue increasing bet amounts.
• You hide your gambling from friends or family members. You may sneak off to gamble without telling anyone, or lie about your gambling activities.
• You spend money you don’t have on gambling. You may use money intended for important bills like rent, mortgage, car payments, credit card bills, and other expenses for gambling.
• You steal from others or sell your possessions so you can gamble. You may steal money or belongings from others so you can gamble, or sell or pawn valuable possessions like musical instruments and vehicles to obtain more gambling money.
• You prioritize gambling over obligations related to work, school, family. You may stop going to work or school so you can gamble, or stop buying household necessities so you can use the money for gambling instead.
• You’re experiencing financial hardships due to gambling. You may have lost your home, car, job, and important personal possessions due to gambling.
• You’re facing a range of negative emotions triggered by gambling. Gambling may be a serious problem in your life if it’s triggering depression, anxiety, frustration, agitation, and remorse.
• You want to stop gambling but can’t. You have tried to stop gambling but can’t seem to stop despite your desire to do better and to stop gambling.

Negative Effects of Gambling Addiction

Gambling addiction can produce many more negative effects than just financial hardship. Gambling disorder can affect your physical health, mental health, and social functioning, and lead to the loss of important relationships with friends and loved ones. You may also suffer a decline in work or school performance, and feel more restless and bored with all other areas of life that don’t involve gambling.

Those who suffer from gambling addiction tend to suffer from higher rates of poor general health than those who don’t gamble. Tachycardia and angina are common health problems among those diagnosed with gambling addiction. Many who suffer from gambling disorder also tend to experience distortions in thinking surrounding their addiction, such as superstitions, overconfidence, and a sense of power over the outcome of chance events. Nearly 50% of those receiving treatment for gambling disorder experience suicidal ideation, while an estimated 17% have tried to commit suicide.

The negative effects of problem gambling include:

• Financial problems including high debt, poverty, or bankruptcy
• Domestic violence and child abuse in families
• Suicidal thoughts, attempts, or the act of suicide
• Legal troubles, including arrests for theft or prostitution
• Behavior problems in children of problem gamblers
• Depression, anxiety, and other mental health disorders
• Loss of relationships with friends and family
• A decline in performance at work or school
• Suicide and death
• A risk for drug or alcohol abuse

How Does Gambling Addiction Interact with Addiction?

Alcohol and cocaine are the two most common substances associated with gambling and binge gambling, respectively. Alcohol is legally available in most gambling settings such as bars and casinos and is often rewarded to gamblers for free at many of these establishments. Roughly 44% of people with gambling disorder in the U.S. also suffer from an alcohol use disorder.

Binge gambling is defined as intermittent episodes of uncontrolled gambling after long periods of abstinence. For instance, a person who practices binge gambling may only visit the casino five times per year but gamble non-stop for long periods during their stay. Cocaine use tends to be common among these gamblers since it produces stimulating effects of increased energy, alertness, focus, concentration, and confidence.

Individuals with gambling disorders tend to suffer higher rates of co-occurring alcohol and drug use disorders compared to their peers. Gambling often takes place in environments that enable and encourage alcohol and drug use. Gambling can also trigger mental health conditions like anxiety and depression, which many may self-treat using alcohol and drugs like marijuana, painkillers, and other addictive substances.

How Are Gambling Addiction and Substance Use Treated?

Gambling addiction is commonly treated using cognitive and behavioral therapies that treat the root psychological causes of your addiction. These therapies also help you identify and change negative, unhealthy thoughts and behaviors that may have led to your gambling addiction. Treatments for gambling addiction can be tailored especially for you or your loved one based on the factors surrounding your disorder.

Gambling addiction can also be treated using community reinforcement, group therapy, and 12-step support groups like Gamblers Anonymous. These treatments help you identify your triggers that can lead to gambling and teach you ways to overcome and manage those triggers. For instance, if a stressful day at work usually makes you feel like gambling, you may learn yoga, deep breathing, or other healthy methods that relieve stress without putting your health and well-being at risk.

Gambling Addiction Help

If you or someone you love needs treatment for gambling addiction, it’s important that you use a treatment approach that best suits your recovery needs. Gambling addiction treatment is available in many different settings, including inpatient and outpatient treatment settings.

Inpatient gambling addiction treatment can greatly benefit those who suffer from severe gambling disorder, and who have suffered severe financial, legal, or social problems. Inpatient treatment includes around-the-clock supervision in a hospital-like setting where you can live for the duration of your treatment program. The intense level of therapy, counseling, and supervision provided by inpatient treatment centers can help significantly reduce the risk of relapse while in recovery.

Compulsive gamblers often need support from friends, family members, and peers to help them stop gambling. Gamblers Anonymous groups can provide peer and social support for those in recovery or for those who wish they can stop gambling. These groups can provide a solid, healthy foundation for a successful and long-term recovery from gambling addiction.

Here’s how to help a family member or loved one suffering from a gambling addiction:

• Understand the addiction. The first thing you can do to help a loved one who is addicted to gambling is to learn all you can about the addiction. Find a support group that can help you cope with the stress that comes from having a loved one who is addicted to gambling.
• Find support. Support for yourself and for your loved one who is addicted can be very beneficial in helping with a gambling addiction. Many support groups are available throughout communities and in treatment centers. Therapists and counselors can also provide support for gambling addiction.
• Manage money tightly. If your loved one is addicted to gambling and is actively pursuing help, take over managing all financial responsibilities for your loved one. This can help reduce any gambling impulses your loved one may be experiencing throughout their recovery.

To most sports gamblers, a professional bettor seems to have a perfect life. They wager on sports for a living, make their own hours, and earn serious profits.

That said, professional sports gambling may seem like a glorious career. However, it actually involves a long and slow climb to the top.

This guide discusses the realistic points of the path towards becoming a success when betting on sports. It also covers the small edges and long hours that gamblers must put it into turning pro.

Professional Sports Bettors Deal With Small Edges

When the general population envisions an expert sports bettor, they think of somebody who makes thousands of dollars with every wager.

They probably also picture a gambler who just can’t seem to lose night after night. The reality, though, is much different than this.

Instead, they have a small edge that they exploit through large bets.

Many sports gamblers consider themselves successful if they win 50% of their wagers at -110 odds. Of course, gamblers can win more far more bets against the sportsbooks if they back heavy favorites (e.g. -300 or better).

But -110 is a nice measuring stick for how successful you are in terms of win-loss percentage. Even if you win 50% of the time at these odds, though, you still won’t be making profits.

After all, you need to take the juice into account. A bookmaker takes 10% from the losing side in a -110 wager, meaning a 50% win rate won’t get it done.

Some handicappers claim they correctly guess over 60% of their sports betting picks. However, no handicapper or professional sustains such a win rate in the long run.

At best, one can only expect to be successful on 55% of their bets long term. This win rate certainly isn’t the 80% mark that many would envision for a pro.

You Can’t Expect to Win Big With a Small Bankroll

You won’t get very far if you have a 53% to 55% win rate and are only placing $10 bets. You can’t even earn a dollar profit from each wager at this rate.

You need to exploit your long-term edge with big bets in order to make serious profits.

Here’s an example on how much you might win as a lower-level pro:

• You place $2,000,000 worth of bets throughout the year.
• You win 54% of your wagers at -110 odds.
• 2,000,000 x 0.54 = $1,080,000 in winnings
• 2,000,000 x 0.46 = $920,000 in base losses
• 920,000 x 0.1 (juice) = $92,000 in juice paid
• 920,000 + 92,000 = $1,012,000 in total losses
• 1,080,000 – 1,012,000 = $68,000 profit on the year.

Unless you strictly bet point spreads, most profitable opportunities that you find aren’t going to be at exactly -110 odds. But I keep referring to these odds because they make for the simplest examples.

You also need to capitalize with large wagers as well. You can only place these big bets if you have the bankroll to do so.

You Must Build Your Skills & Bankroll

Sports gambling definitely isn’t something that you jump right into and immediately conquer. Instead, it requires you to put long hours into the matter.

You’re most likely not going to win right away. Therefore, you want to study general sports betting strategy while slowly increasing your bankroll at the same time.

You also need to work on your handicapping skills.

This way, you won’t lose too much money if your betting skills aren’t yet up to par.

All the while, you should also be slowly adding to your bankroll. This process involves saving money and using it to build your gambling funds.

You probably don’t have $50,000 or $100,000 just sitting around for gambling purposes. But you can build up to this amount through a combination of steady investments and improving your skills.

Eventually, You Need to Increase Your Bet Sizes

I highly advise that you don’t jump into sports gambling and start placing $1,000 wagers right away. Eventually, though, you want to up your bet sizes to make more money.

With a large enough bankroll, you may even theoretically earn thousands of dollars per wager.

Of course, you want that bankroll to back up those huge bets.

Otherwise, the volatility could ruin your betting career.

Therefore, you should put serious consideration into your bankroll size. Here’s an example:

• You want to place $500 bets.
• You also want a bankroll with at least 100 units to survive the volatility.
• You’ll risk 1-3 units on each match, depending upon how confident you are.
• 500 x 100 = 50,000
• You should start with at least $50,000 (100 units at $500 apiece).

Can You Grind From a Low Roller Into a Pro Bettor?

If you’re like most amateur online bettors, you’ll probably start with a $50 or $100 deposit. These amounts give you just enough money to make several bets on the games you watch.

However, you may also have aspirations of turning your small bankroll into a fortune someday.

The odds are definitely against you depositing $100 and eventually becoming a top pro. Then again, though, everybody has to start somewhere.

The reason why most sports bettors feel this way comes down to two aspects:

• They fail to put the work into strategy and handicapping.
• They exercise poor bankroll management.

Sure, everybody who sets out on the road towards professional gambling blames bad luck or external factors for their failures. In reality, though, the average bettor is lazy and impatient.

They don’t want to put an hour into handicapping a single bet. They want to put five minutes into handicapping 12 wagers and pray that they’ll win most of the bets.

Furthermore, the typical sports gambler doesn’t wish to grind their way up towards larger wagers. They want to quickly increase their bet sizes and take shots at the big time.

Long story short, it’s possible to go from a small initial deposit to becoming a professional gambler. But you also need discipline, patience, and steady investments into your bankroll.

Most gamblers aren’t willing to make these sacrifices. That said, it can sometimes feel impossible grinding up towards pro status.

Tips for Starting on the Path to Becoming a Pro

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As discussed throughout this post, you’re not going to become a professional bettor overnight. But you can at least get started on the right path by following the tips below.

Save Up for a Starting Bankroll

A $100 bankroll isn’t going to help you become a professional gambler. Even a $1,000 bankroll won’t do the trick.

You need a sizable bankroll so that you can make large bets and survive potential losing streaks. The amount needed all varies based on how much you want to get out of sports betting.

Of course, you don’t have to put your betting activities on hold just because you don’t have a small fortune.

Instead, you can learn the ropes by making small bets while slowly adding to your bankroll on the side. If you save up enough money, you’ll eventually be able to become a serious pro.

Break Your Bankroll Down Into Units

Most professionals don’t look at their bets in terms of dollars. Instead, they break their bankrolls down into units.

If you normally wager $100 per bet, then your unit size will be $100.

Of course, you’ll likely bet more than $100 when you feel extremely confident about an outcome. Therefore, you might risk 2-3 units in these situations.

In any a case, here’s an example on how to break your bankroll down into units:

• You have a bankroll worth $75,000.
• You want 100 units.
• 75,000 / 100 = 750
• Each unit size will be worth $750.

Narrow Your Focus

You might be tempted to bet on multiple markets. After all, wagering on a variety of sports is more entertaining than just one or two.

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But the goal here is mastery. You stand a much better chance of making profits someday if you truly know a market.

Top Professional Gamblers

Going further, you should also pay attention to a specific division rather than constantly trying to scout an entire league. If you know one division extremely well, then you’ll be an expert on matches involving that division.

Never Stop Studying

Sports betting is fun because you may never truly master it. You could dedicate a lifetime to this pursuit and still get fooled by the bookies sometimes.

That said, you have lots of room to grow with betting. If you truly dream of becoming a professional, you should constantly be studying general strategies and handicapping tips.

As long as you never stop researching advice, you’ll improve over time. Improve enough, and you could very well make a nice living off of sports gambling.

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Conclusion

Top Professional Sports Gamblers

Sports gambling may seem like a quick path to riches for skilled bettors. But in reality, it’s a long journey that involves lots of planning and patience.

You can’t go from zero to 60 and expect to win big right away. Instead, you should grind your way up the ladder while slowly adding money to your bankroll.

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With this approach, you can improve your handicapping efforts while also building your gambling funds. You should also steadily increase your bet sizes—especially as you develop an advantage.