We all think about it sometime – somehow finding a trick, shortcut or secret method to getting rich quickly. Gambling is often considered by enterprising millionaires-to-be because gambling offers the allure of massive cash payouts in a short amount of time. The question, of course, is if it’s possible to get rich gambling.
So is it?
Yes, it is possible to get rich gambling and I’m going to show you a few methods for getting rich gambling. I don’t want to waste your time so I’ll tell you up front that none of the following methods are easy or simple. If everyone could get rich gambling, well, you know… everyone already would be rich.
The good news is that at least one person has used each of the following methods to make a fortune gambling. People have (and do) use all of the following methods to get rich gambling. It’s not easy but it is very possible. In fact, I’m using one of these very methods myself to build my own fortune.
Count Blackjack at a Live Casino
Blackjack is one of the only games in the casino in which it is possible to gain an advantage over the house. The key to winning in blackjack is to learn how to count cards. Card counting involves keeping a running count of the high cards and low cards that appear on the table. This allows you to know when the deck is rich in high cards. When the deck is rich in high cards, you have an advantage and can then increase the sizes of your bets.
Card counting itself is pretty simple. I don’t want to get into a whole discussion about how it works here, but you can run a few quick Google searches to see how to keep count. It’s really not difficult at all. The difficulty in card counting is actually getting away with it.
Casinos also keep track of the current count and if you frequently place bigger bets at the right moments, the casino will know. It is not illegal to count cards, but casinos do have the right to kick you out in some states. So, you have to find ways to cover your play, such as playing with a team.
Play a Smart Video Poker Game
Video poker is another casino game in which you can gain an advantage if you play correctly. In certain cases, video poker machines return more than 100% when you play with perfect strategy. There are numerous resources on the internet that explain exactly how to play every single hand for every single video poker variant.
The difficulty in playing video poker for a profit is that every machine is a little different and you have to play with the perfect strategy 100% of the time. Video poker does require some serious volume as well, because the advantage is found over the long term. Royal Flush jackpots account for the player advantage, and that means you have to play a lot before you reach the full potential of player advantage.
Further adding to the complication is the fact that not every video poker machine can be beaten. Only certain video poker variants with the right pay tables can be beaten by the player. In some cases, the advantage comes from clearing bonuses or taking advantage of player comps.
Entire books have been written on beating video poker, so I’m not going to try to cover everything here. A great resource for getting started is the Wizard of Odds video poker page.
Start a Brick-and-Mortar Casino
The best way to make money gambling is to make money off other people gambling. Casinos reap in heaps of cash via gamblers, food, drinks, entertainment and hotel rooms. The gambling industry has taken a bit of a hit during the recent recession, but it’s still alive and well. They say that gambling and entertainment are the only recession-proof industries.
Obviously, there are a few challenges with starting your own casino. First of all, you’ll have to talk to a lawyer to work your way through the legal process for starting your own casino. The casino industry is regulated and protected to death. You will face a long, uphill battle in the beginning. If you can maintain the fight, the rewards will be great.
Casino mogul Sheldon Adelson is a great example of getting rich via gambling. As the Chairman and CEO of Las Vegas Sands, it is estimated that his personal fortune exceeds $20 billion.
Start an Underground Casino
If you can’t get a license to own a casino legally, the underground casino is always an option. This is actually a pretty bad idea though because it is highly illegal to run an underground casino in most countries. Additionally, it’s tough to make a lot of money while remaining under the radar.
Having said that, I do know of a few people who have made a lot of money with underground casinos. I wouldn’t recommend this method to anyone, but it makes the list simply because people have made money off underground casinos.
Start an Online Casino
If you live outside the US, an online casino may be a better option than running a brick-and-mortar operation. Online casinos are cheaper to start than traditional casinos and they generate cash quickly. You can build your own gambling site from scratch or use a white-label solution for the software and payment processing.
There are two obstacles to overcome with an online casino. First, you must figure out the legality of running an online casino in your country. In some countries, it’s pretty easy to start an online casino. You just need to get a quick certification and you’re good to go. In the United States, it is illegal to run an online casino at all.
The second obstacle to overcome is the competition. The ease of starting a gambling site has led many people to open their own casinos. You will have to fight to bring business to your casino. I recommend starting an affiliate program, connecting with website owners via online marketing forums and running a reputable organization.
When done right, online casinos can be hugely profitable. The operating costs of online casinos are minimized because there is no building to keep up, no dealers to pay, customers to clean up after and so on.
Become an Online Casino Affiliate
This is the path that I have taken to get rich gambling and it’s the path that I recommend to everyone else. Casino affiliates make money by referring players to online casinos. Every player that you send to a casino is tracked to you and you receive a percentage of that player’s losses.
For example, let’s say I send a player to Buzzluck Casino. If that player loses money at the casino, I keep a percentage of those losses. I know this may make me sound like a bad person, but that’s how every gambling website works. If it helps any, I always give honest reviews, never recommend bad casinos and I always give players legitimate gambling advice.
Anyways, most online casinos have affiliate programs that you can join for free. Just visit the casino’s website and look for a small text link that says “affiliates.” After you sign up for the affiliate program, you can log in to your account and receive special links that you can post on your own website or blog. Any time someone clicks on one of your links and signs up, that person is tagged as one of your players.
The reason I chose this path is because it requires the least upfront investment. I didn’t have to spend thousands of dollars practicing card counting or setting up an offshore gaming site. What makes it difficult is that there is a lot of competition. You have to be willing to put in a lot of work before you get any return.