• How Much Does A Casino Make Per Day Pass
• How Much Does A Casino Make Per Day

The word “comp” is short for “complimentary.” In the gambling industry, comps are free stuff you get from casinos and other gambling companies to incentivize you to gamble with them. Generally, you get more comps based on how much you’re gambling.

Although it is impossible to determine how much any particular casino makes each day due to variables such as size, location and number of visitors, the mean intake of a casino each day is about $73,000. There are about 1,500 casinos within the United States.

• The cost might work out to $10 per day per machine for 5 years and the casino might make $30 to $100 per day per slot machine, depending on a whole lot of factors. Obviously a slot machine at Caesars Palace in Las Vegas is going to generate much more than one at Terrible’s Casino in Searchlight.
• In the long run, the percentage will hold up and the casino will make its profit. But in the short term, results vary widely from the norm. The house advantages in casino games are narrow enough to produce winners - lots of winners, in fact - every day.

When discussing comps, it helps to understand the expression “action.” Being “in action” just means that you have money riding on a bet of any kind.

But “action” also refers to the amount of money you have wagered. It can refer to the amount of money you wager over a period of time, too.

For example, if you’re playing slot machines and betting $1 every time you spin the reels, you’re putting $1 into action every time you spin. If you make 600 spins per hour, then you’ve put $600/hour into action.

Based on the odds behind the game and the payout odds, casinos can estimate the long-term expected losses based on your hourly action. They can then calculate a percentage of that to return to you in the form of comps.

When you’re dealing with traditional land casinos, if you bring much action to the casino at all, you’ll be assigned a casino host. This is the person at the casino responsible for keeping you happy so that you don’t take your action elsewhere. Comps are the main tool a host uses to keep you happy.

Of course, not everyone has a host. You can also get comps almost automatically by signing up for the players’ club and inserting the card into the machines as you play. Pit bosses also have the authority to reward you with comps when you’re playing table games. In fact, the simplest and most common type of comp is the free drink. As long as you look like you’re playing a slot machine, a cocktail waitress will bring you free drinks all night. (She’ll be more attentive if you tip her well, though.)

This post explains the different kinds of gambling comps and what they mean to you as a gambler.

The Different Kinds of Comps Available

Comps are awarded in a hierarchy based on your value to the casino. The most basic comp is the free drink. Casinos have multiple motivations for gving you free drinks.

For one thing, a gambler who’s inebriated has lower inhibitions. He’s more likely to gamble more money longer. And the #1 factor affecting how much profit a casino makes from a gambler is the amount of time he spends playing.

That’s because casino games have an innate mathematical edge. This edge doesn’t have a huge effect in the short term, because in the short term, anything can happen. But the law of large numbers suggests that the more bets you make, the closer your actual results become to the theoretical results.

Here’s an example:

The mathematical expectation at blackjack is for you to lose roughly 1% of each bet you make on average over time. (This assumes you’re using basic strategy while you play.) That means the casino expects you to lose an average of $1 every time you place a $100 bet.

In the short run, that’s impossible. If you place a single bet at blackjack—which is the ultimate example of the short term—it’s impossible to lose $1 on a single $100 bet. You’ll lose $100, win $100, or win $150 most of the time. If you double down or split, you might win more–$200, $300, or even $400 wins are possible. You might also face a “push,” which is a tie. Your bet is returned, but you don’t win any money… that’s a loss or win of $0.

None of those outcomes come even close to a loss of $1.

That $1 loss is an average over time–over a huge number of bets. If you make 10,000 bets at $100 each, you’re likely to lose close to $10,000. Even with that many bets, it’s possible to deviate wildly from the mathematical expectation.

If you’re the casino, you want to get into the large number range as soon and as often as possible. This ensures your profit. The way to do this is to get players to make lots of bets for lots of money.

And providing free alcohol helps with that. In fact, it’s a small price to pay for the extra action they see.

You can expect more than just free drinks, though. Free food is a small step up from free drinks. At a casino of any respectable size, you’ll find multiple restaurants on site. The 2^nd most common type of comp is free food at one of the on-site restaurants.

The free food comp is usually awarded in the form of a coupon. You might have to put more money into action than you think to be awarded free food, but it sometimes depends on the generosity of the pit boss. It can also depend on what kind of rapport you have with the casino staff.

I once got into a spirited conversation with the cardroom manager at Planet Hollywood Casino in Las Vegas. They had a hot dog joint there called Pinks—I guess it’s popular on the West Coast. Anyway, I was trying to convince the cardroom manager that he should buy everyone at the table hot dogs.

Apparently, at the limits I play, you don’t get free hot dogs.

If you qualify for free food and free drinks, you’re not far from qualifying for free lodging, too. Most casinos are also hotels, but even casinos which don’t have attached hotels will get you lodging nearby—if you’re gambling enough.

You can also get upgraded to a nicer room by virtue of the action you bring the casino. (You might also be able to get upgraded to a suite or a nicer room by tipping the desk person $20 when you check in, but that’s not really related to comps.)

In fact, these 3 comps—room, food, and beverage—are so common that they have an abbreviation for it. Bettors who qualify for all 3 are called “RFB” customers.

Notice something about all these comps, too. You’re getting comps that seem to have a certain value. A drink is probably $5 at the bar at a casino. A meal is usually $15 or $20. A room can vary wildly in price, but is often at least $50, $100, or more.

But those are the retail prices for these comps. The casino doesn’t pay $5 when they mix you a drink. Their cost for that shot of Crown on the rocks is probably closer to $1. The meal at the buffet that the public pays $15 for probably only cost the restaurant $5 to make.

And a hotel room that’s sitting empty generates no money for the casino at all, so they might as well give it away. In fact, the Winstar in Oklahoma has such low occupancy rates during the week that almost anybody can get a comped room. You don’t have to bring them much action at all, really.

Those are just the standard comps for regular down-to-earth players like you and me. High rollers, or “whales,” as the industry calls them, are eligible for all kinds of free stuff. Many of these comps are customized based on what the host knows about the gambler’s interests.

It’s not unusual for a casino to pay for airfare and transportation to and from the airport for a big player. In fact, that’s expected for any high roller.

But entertainment is another popular comp. If you like golf, shows, or sporting events, you can usually get a “free” ride from the casino to go to those outings, too.

Rebates are common, too, even if you’re not a high roller. For low rollers, rebates are often awarded in the form of coupons or free play. High rollers can receive cash or a check as part of their rebate.

The comps program is part of the casino’s marketing plan. Most casinos make heavy use of direct mail to entice gamblers to return to their casino and play. If you’re a member of the players’ club at the casino, you’ll inevitably receive standard comps in the mail.

Based on your interests and betting tendencies, you’ll also get free offers for other perks in the mail, too.

Even low rollers can get free transport to and from the casino. I see buses taking groups of gamblers to the Winstar all the time. Many of the people riding those buses pay nothing for the ride, although they lose enough money at the casino to more than make up for that cost.

But calling these comps “free” is inaccurate. You pay for these comps in the form of gambling losses, even when you’re winning.

How Gambling Companies Do the Math That Makes Their Comps Program Profitable

Other than the free drinks and occasional free coupons sent in the mail, most casinos award comps based on your actual time spent playing. They account for how many bets per hour you make and at what amount when deciding how much to award you and when.

But comps aren’t based on how much you actually lose. Instead, casinos calculate your comps based on your theoretical expected loss. This is a function of the house edge for the games you’re playing, the time you spend playing, and how many bets per hour you’re making.

Over the long run—and casinos serve thousands of customers per day—the casino has an excellent idea of how much your play is worth. If you’re on a winning streak, you still get comps based on your action. The calculations are based on your expected losses, not your actual losses.

Here’s how the casino calculates this:

You play slots exclusively, but you bet $3 per spin. You’re an average player, so you’re making 600 spins per hour. That’s $1800 per hour you’re putting into action.

If the casino knows you like the machines with a 95% payback percentage, they figure that in the long run they’re going to make 5% of your hourly action—or $90 per hour. (5% of $1800 is $90.)

If you spend an average of 4 hours a day playing slots, the casino assumes you’re going to lose $360 a day while you’re there.

They then award you comps based on a percentage of that $360 per day.

How Can You Best Take Advantage of the Casinos’ Comps Programs?

If you’ve heard of the books The Frugal Gambler by Jean Scott or Comp City by Max Rubin, you probably already know a little bit about becoming a “comp hustler” or “comp wizard.” These are players who learn to maximize the amount of comps they receive in exchange for their action.

One way to maximize the comps you get for the money you lose is to play a game with a tiny house edge. If you can play blackjack with perfect basic strategy, you can get the edge in the game down to 0.5%. The average player loses about 4% at blackjack, because the average player doesn’t know perfect basic strategy.

When the casinos calculate your expected loss at the blackjack table, they assume you’re an average player losing 3% or 4%. Since you’re only expected to lose 0.5%, you’re getting comps based on a theoretical loss that’s actually overstated by a factor of between 5 and 10.

Another way to maximize the comps you get is to bet big when you’re being rated by the dealer and the pit boss. “Rating” players is how they estimate your hourly action. Fooling the pit boss is harder than you think.

I was playing blackjack in Kansas City for between $10 and $100 per hand, depending on the count. They rated me as a $10/hand player, even though I was betting more than that on a lot of hands. I complained, but I’m sure they realized I was counting. The last thing they were going to do is rate me higher when they knew I was counting cards.

(I was also a little drunk, so I didn’t notice immediately when they started shuffling the deck after every hand. Counting cards does you no good if the dealers shuffle after every hand.)

Taking lots of breaks can result in fewer hands per hour than the casino estimates, which reduces your expected hourly loss by a lot. If you’re at a blackjack table dealing 60 hands per hour, you could realistically only play 45 hands per hour by taking frequent bathroom breaks.

How Much Does A Casino Make Per Day Pass

What effect does that have on your expected hourly loss?

It reduces it by another 25% or so. Instead of losing $10/hour, you might only be losing $7.50/hour. The casino might be estimating that you’ll be losing an average of $40/hour and base your comps on that.

Expert video poker play can also result in smaller expected losses per hour. In fact, with certain video poker games, the combinations of comps with the tiny house edge can result in an overall positive expected value for the player. That’s an advantage gambling technique, but it’s not one you can realistically make a living at. The edge is too small, and games with those pay tables are usually only available for small stakes. You’d be lucky to make minimum wage playing video poker for comps.

How much of your expected losses can you expect back in comps?

It varies, but the casino calculates that they can afford to give you back 40% of your expected loss in the form of comps. You’ll more often see 20% through the players’ program if you’re a low roller, but you can even increase that amount by taking advantage of coupons and “happy hour” type promotions where you get 2X or 3X your standard comp rate.

How Do Online Casino Bonuses Work? Isn’t That Another Form of Comp?

Online casinos can’t serve you drinks or free food. They can’t really provide you with a free room for the night, either. And since you’re playing from home, they’re unlikely to offer you free show tickets, either.

Instead, online casinos offer you sign up bonuses and ongoing deposit bonuses. These amount to free amounts of money awarded to your account just for making a deposit—either as a new player or as an existing player.

Bonus hustlers used to take advantage of these offers to generate almost guaranteed profits. A friend of mine once bought a jukebox by taking advantage of casino bonuses at a dozen different casinos and cashing out his winnings.

Online casinos have responded to this by instituting wagering requirements that make it almost mathematically impossible to come out ahead when taking advantage of a bonus. They also watch player behavior closely, and if that behavior resembles that of known bonus hustlers, the casino might refuse to pay you based on “bonus abuse.”

The concept of wagering requirement seems more complicated than it is. Here’s how it works:

You sign up at a casino that offers you a 200% matching bonus on your first deposit of $1000. You deposit $1000, input your bonus code, and the casino adds $2000 to your balance.

You now have $3000 to play with.

But the casino requires you to wager this amount 35 times before cashing out. They also restrict your play to slot machines. You can play blackjack, too, but only 10% of your blackjack wagers count toward fulfilling your wagering requirements.

And you can’t cash out before fulfilling these wagering requirements.

Let’s assume you want to play the slots. A good ballpark estimate for the house edge on a slot machine game is 6%, but who knows? (The casino does, but you don’t.)

To wager $3000 35 times means you must put $105,000 into action.

The expected loss on that much action is 6% multiplied by $105,000, which is $6300.

Since you started with $3000, the mathematical expectation is for you to go broke before fulfilling your wagering requirements.

On the other hand, if you play blackjack, the house edge is only 0.5%. But since the casino only counts 10% of those wagers toward your wagering requirements, you need to make $1,050,000 in wagers before cashing out.

0.5% of $1,050,000 is still over $5000.

Again, that’s more than your starting bankroll, so it’s unlikely that you’ll have money left over after fulfilling your wagering requirement.

You can, of course, get lucky and win more than you’re expected to. I claimed a bonus at an online casino once for $1000, and I hit a $6000 jackpot on my 5^th spin of the reels on a slot machine game.

I was able to fulfill my wagering requirements and still have $2000 in profits.

But that’s because I got lucky—not because I took advantage of a mathematical edge given me by the bonus.

In fact, had I eschewed the signup bonus, I could have cashed out the entire $6000. I wouldn’t have been required to finish fulfilling the wagering requirements.

Conclusion

Casino and gambling comps are really cool, but they’re also a tool that casinos use to get you to lose more money than you’d otherwise lose. Understanding how those comps work is the first step in making sure you don’t get taken advantage of.

Some people learn how to take advantage of the comps system in such a way that they gamble practically for free. It’s even theoretically possible to come out ahead because of the comps program. That’s too much work for most people, but it’s nice to know that it’s possible.

The bottom line about comps is that the casino doesn’t have your best interest at heart. They want your money.

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Every gambler has thought about what it’d be like to earn a living through casino games. This spawns visions of making a 6-figure salary, feasting on comps, dressing like James Bond and traveling the world.

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But is being a professional gambler really this lucrative?

Let’s begin discussing the matter by defining what it means to be a pro. You and I will also cover the salaries that pro gamblers make in different games.

How Do We Define a Professional Gambler?

The term “professional gambler” is sometimes used interchangeably for both people who earn part-time and full-time income through gambling.

This makes sense because both groups have the skills to earn long-term profits. Therefore, you can technically be considered a pro gambler as long as you’re making profits of any kind throughout the year.

But I keep a much tighter definition of a professional gambler.

A true pro not only makes profits through gambling, but enough to pay all of their living expenses. This includes rent (house payment), utilities, car payment (transportation), insurance, meals, clothes and anything else deemed necessary.

A semi-professional is somebody who makes enough to supplement their income, but doesn’t earn full-time living through gambling. I’m only going to cover full-time professional gambler salaries in this post.

What Casino Games Offer the Chance to Make a Living?

The gambling world doesn’t offer an abundance of opportunities to make a living, but there are a few different games where you can earn some nice profits.

Here’s a list of the most common games that you can make long term profits with:

• Blackjack card counting
• Daily fantasy sports (DFS)
• Poker
• Sports betting
• Video poker

Blackjack and video poker both see you try to win money directly from the house.

Casinos do everything in their power to hinder successful card counters. This includes using continue shuffling machines, multi deck shoes and watching for counters.

Anybody who’s caught counting cards is often kicked out of the casino and banned. This is why it’s so important for card counters to blend in with normal players.

Casinos don’t usually worry about advantage video poker player. In fact, some games are set up to offer positive expected value (+EV) to players who use perfect strategy.

Another problem is that it’s now harder than ever before to find video poker games offering over 100% payback like Deuces Wild (100.76% payback), Double Bonus (100.17%) and Double-Double Bonus (100.07%).

DFS and poker both see you compete against human opponents. The house merely takes a small cut of tournament fees or cash game pots (poker).

Sportsbooks create lines in an effort to get equal betting action on both sides. The sportsbooks make their money by taking 10% vigorish (juice) from the losing group.

Every form of advantage betting has its pros and cons, but the key is that each of these activities offers the chance to make a full-time living.

Think you have what it takes to make it as a proffesional gambler? Test your skills at some of the best sites in the game.

Salaries for Professional Gamblers in Different Games

Card Counting

People have been making a living through card counting since the early 1960s, and despite all the obstacles that casinos have put in players’ way, it’s still possible to earn profits with card counting today.

You need a sizable bankroll in order to properly spread your bets and survive variance. The bare minimum you should aim for is $20,000, but it’s better to have closer to $50,000.

How much you make depends upon several factors, including the following:

• Skill level – Successful counters have between a 0.5% and 1.5% edge on casinos.
• Hands per hour – 50 to 200 depending upon dealer speed & table size.
• Bet spreading – Difference between your lowest and highest bet.
• Deck penetration – The further into the shoe you get, the more confidence you can bet with.
• Counting system – Some systems are more accurate than others.
• Game rules – You want the best rules possible in order to lower the standard house edge.
• Tips – $5 per hour for the dealer is standard.

Now, let’s set up an example by creating variables behind your counting session:

• You have a 1% edge based on the rules, your skill level and using the Hi-Lo counting system.
• The dealer is dealing 100 hands per hour.
• Your minimum bet is $25, and you spread up to $175 during favorable counts (i.e. 1 to 7 spread).
• You get 70% deck penetration before the shoe is reshuffled.
• You tip $5 per hour.

Here’s how this example would play out in terms of profits:

• Your average bet is worth $50 ($25 minimum; spread up to $175 for favorable counts).
• $50 average bet x 100 hands = $5,000 in hourly bets.
• 5,000 x 0.01 edge = $50 hourly win.
• $50 hourly win minus $5 tip = $45 hourly profit.

Some counters make $100 or more per hour by improving their edge up to 1.5% and/or increasing bets, but many players are happy with a $45 per hour rate to start with.

The final step is to figure out how many hours you’ll play and convert this into an annual salary. Here are a few different figures on how much you’d make per year:

• $45 x 40 hours per week x 52 weeks = $93,600 per year
• $45 x 30 hours per week x 52 weeks = $70,200 per year
• $45 x 20 hours per week x 52 weeks = $46,800 per year
• $100 x 40 hours per week x 52 weeks = $208,000 per year

The last figure shows what’s possible for a really good card counter who makes $100 per hour. The $45 calculations show that even decent counters can make good money.

The keys, though, include keeping an accurate count amidst casino distractions and blending in with normal players.

Daily Fantasy Sports

DFS is the newest game that offers skilled gamblers an opportunity to make money.

Daily fantasy sees you pay an entry fee to enter contests and compete against other players. The goal is to create lineups that score the most points and rank the highest in tournaments.

Daily fantasy sports experienced a big boom in 2015, thanks to clever marketing campaigns that make it seem like any sports fan can win.

The truth, though, is that only a small percentage of those who play actually win. A McKinsey study from 2015 showed that 1.3% of daily fantasy baseball players collect 91% of the winnings.

Despite these long odds, many people still enjoy trying to win in daily fantasy, but what exactly can you expect to win if you’re among the small percentage of DFS pros?

The potential for big winners is there for the most skilled daily fantasy players.

Saahil Sud, profiled in a WBUR piece, said he made over $3 million in profits in a single year. Former poker pro Aaron Jones switched over to DFS and won a DraftKings contest worth $5 million in early 2016.

Of course, the average professional DFS player doesn’t earn quite this much. To determine a standard DFS salary, let’s consider the following factors:

How Much Does A Casino Make Per Day

• Entries per day— Most DFS pros enter several hundred contests every day.
• Stakes – Typical entry fees range anywhere from $1 up to $1,000.
• Fees— DFS sites tack on a 10% fee to each buy in, which is where their profits come from.
• Skill level— Some pros have a bigger edge than others.

Now, let’s input variables to come up with an average daily profit:

• 300 entries per day
• $100 + $10 (fee) average buy in
• 300 x $110 = $3,300 daily fees
• You’re playing for $3,000 after subtracting fees
• Expected value based on skill is 115%
• $3,000 x 1.15 = $3,450 winnings
• $3,450 – $3,300 = $150 in daily profits

If we multiply $150 by 365 days, you’ll earn an annual salary worth $54,750.

Of course, DFS is filled with variance, and you won’t always feel like you’re on the path to a solid $55k per year. This is why it’s key to have a large enough bankroll to survive the ups and downs.

Poker

Poker has long been one of the most viable options for becoming a professional gambler. The reason why is because you’re competing against other opponents instead of the house.

It’s tougher to make a living in poker these days because strategy is more prevalent. Online poker gives players a chance to rapidly accelerate their learning curve by seeing more hands per hour.

You can still become a profitable player with enough hard work and experience though. In fact, some pros still make six or seven figure annual incomes with the game.

However, the vast majority of pros these days earn between $40,000 and $100,000 per year.

Poker is unique in that there are essentially two types of professionals: tournament and cash game pros.

Most rounders mix up their play between both platforms. However, the majority of poker pros also specialize in either tourneys or cash games.

Let’s look at the different considerations for cash vs. tournament play:

Cash Games

• Profit measured in big blinds (BB) made per hour.
• House takes 5% rake from cash game pots for running games.
• More control over annual salary than tournaments.

Tournaments

• Profit measured by rate of return (ROI) on buy ins.
• House adds 10% fee to buy ins (e.g. $10 + $1 fee).
• Only top 10 15% of field makes money.
• Tournaments have more variance than cash games.

A cash grinder needs to figure out what stakes they must play to make a comfortable living based on BB earned per hour.

An example is if you played $10/$20 no limit Texas hold ‘em and made 1.5 BB per hour. This equates to $30 per hour, $1,200 per week for a 40-hour workweek and $62,400 for a full year.

A tournament pro must decide what buy-in level they must choose to make a high enough ROI to live comfortably.

If you spend $20,000 on tourney buy-ins in a week and make $22,000, then your RIO is 10% ([22,000 20,000 / 20,000). This means that you’ll earn a $10 profit for every $100 you spend on tournament buy-ins.

One more consideration here is whether you’ll dedicate the bulk of your time towards live or online poker.

Online cash games and tourneys offer more volume because you can play multiple tables. Plus hands and tournaments go much faster, giving you an opportunity to boost your hourly wages.

Another Internet poker advantage is that you cut out extra expenses like traveling, hotel stays, meals and dealer/waitress tips.

Nevertheless, many players find that their win rate is higher in live games. The most lucrative tournaments are found in land-based casinos, too, such as the World Series of Poker events.

Sports Betting

The good thing about sports betting is that you don’t need to have a massive win rate just to book profits.

Sportsbooks only take 10% juice from the losing side. This differs from DFS and poker tournaments where you must pay an extra 10% fee regardless of whether you’re a winner or loser.

The juice can be lowered or adjusted based on where the sportsbook is trying to push action, but 10% is generally the amount you’ll see taken from the losing side.

The end result is that you need to win 52.38% of your bets to break even. How do we arrive at this number?

You need to bet $11 to win $10 when the juice is 10%. You must win 11 out of every 21 bets to break even at this rate, which is a 52.38% winning percentage (11/21).

This doesn’t sound intimidating when compared to how good you must be at poker or DFS to win long term, but it’s also really tough to continually find value because sportsbooks are so good at setting lines.

Professional sports bettors usually win anywhere from 53.5% to 55.0% of the time.

Some handicappers brag about higher win rates ranging from 58.0% to 60.0%, but these figures are almost impossible to sustain long term.

Pro sports bettors must be very adept at handling their bankroll since they’re dealing with such a small profit margin. They also need to make larger wagers than the average bettor to increase potential profits.

The general rule of thumb is to never bet more than 1% to 2% of your bankroll on any given contest. If you have a $100,000 bankroll, you’d never put more than $2,000 of this on any single event.

Some sports bettors like Billy Walters and Haralabos “Bob” Voulgaris have made millions of dollars with this model. But the average bettors are looking at more modest salaries ranging from $50,000 to $150,000 annually.

The key to figuring out how much you can make involves determining your ROI just like a poker pro. For example, if you make $10,000 worth of bets during a week and earn back $10,500, then you have a 5% ROI for the week ([10,500 10,000 / 10,000).

You then need to expand this to cover an entire year. Let’s look at an example below:

• You place $1,000,000 worth of bets during the year.
• You win $1,060,000.
• Your profit is $60,000 for the year (1,060,000 1,000,000).
• Your ROI is 6% ([1,060,000 1,000,000] / 1,000,000).

A 6% ROI is extremely high for sports betting, but this is just a simple way to show how to calculate your ROI and salary.

Video Poker

Video poker has good and bad things going for it these days.

The good news is that you can virtually guarantee yourself profits if you become a skilled enough player. The downside is that there are fewer and fewer +EV machines in casinos today.

Your best bet is to find a full-pay Deuces Wild machine, which pays back 100.76%. You also need to take advantage of as many double and triple comp point promotions as you can.

You can find which land based casinos offer full pay Deuces Wild by visiting the site vpFREE2.com.

Once here, navigate to the “Casinos” tab and look in the Las Vegas section. I see 13 different casinos that offer full pay Deuces Wild at the time of this post.

Unfortunately, the highest coin denomination for these machines is only $0.25. In past decades, you could find $1 denomination machines that quadrupled your potential profits.

Even under the right conditions, the odds of you making a good living with video poker are slim. Let’s run the math on what you can expect:

• You play full pay Deuces Wild (100.76% payback).
• You bet 5 coins per hand on a quarter denomination machine ($1.25 per hand).
• You play 1,000 hands per hour, which is extremely fast.
• The casino is running a triple loyalty point promotion.
• The casino comps 0.1% of your total bets, or 0.3% for triple points.
• 1,000 x 1.25 x 0.0076 = $9.50 regular hourly winnings.
• $1,200 total bets x 0.003 = $3.60 in comps
• You earn $13.10 per hour.

Even if you spend 50 hours in the casino, this only works out to $655 per week, and you’d earn $34,060 when we stretch this out for an entire year.

Most people can get by on this salary, but it’s far from what anybody envisions when becoming a professional gambler.

Conclusion

Being a pro gambler has some obvious benefits, including flexible hours, being your own boss and the ability to increase your income.

Some gamblers, such as Saahil Sud and Bob Voulgaris, have even gotten rich with their skills. Of course, you may be perfectly happy making mid 5-figures, as long as you get to enjoy the aforementioned benefits, but there are also some downsides to be aware of. These include risk, highs and lows, no sick days and the potential to lose everything.

It’s up to you to weigh the good and bad before ultimately deciding to pursue a professional gambling career.

The potential rewards can be great in the case of card counting, DFS, poker and sports betting, but you also have to be disciplined and good at handling risk.