Professional Gambling and Betting

The idea behind this illustration is to show what could happen if you chose betting and gambling as a source of annual income, gave up your job and became a professional gambler. This illustration uses a rolling dice with 6 sides and no way of knowing which number is likely to win. Of course, professional gamblers might hope to do better than that, using inside information. But simply accepting true odds is a definite no no!

You would set:
  • an annual target of, say, £45,000
  • how many bets you could expect to make each week after studying the probabilities and the odds on offer
  • how many weeks you would choose to work each year - the remainder being holiday and the chance to enjoy your winnings
The figures in boxes are just suggestions. Please feel free to change them as you wish.

Originally I intended this a demonstration to show the impossibility of using variable bets on horse racing to cover losses and make a win. Back then, in 1985, the only way to view the results was on an Amstrad PCW or on a print-out. Now, with the power of the Internet, it is has been possible to share this with everyone.

I hope you enjoy seeing what could happen if you bet at poor value or bet at good value and that, even betting at good value, the variable betting method is still impossible to contemplate as a guarantee of success. If you need help there is a link to gamblers anonymous.

Roll the dice!