If Making a Million Dollars Gambling was Simple; Everyone Would Do It

Thinking Man With a Briefcase Full of Cash to His Left

Many casino gamblers have a lifelong dream to get that lucky break that mints them a millionaire. In some cases, this can be as straightforward as hitting a progressive jackpot on a slot machine.

More involved approaches need gamblers to dedicate a lot of their time. Learning complicated strategies or developing a winning system is challenging. Each of these paths takes a ton of patience and a more profound amount of luck.

Still, that hasn’t stopped many from spending their time and money chasing the elusive dream. Unfortunately, if making a million dollars gambling was simple, everyone would do it.

Becoming a Millionaire from Gambling Is the Hardest Thing You’ll Ever Do

The dream of becoming rich from gambling is understandable for most casino gamblers. They see the giant jackpots and figure it could just as easily be them as someone else.

For these gamblers, the road to a million dollars is a simple matter of luck. Any wins will be a luck proposition with little to no emphasis put on the best strategies or approaches.

While the effort put forth won’t need any major skill or years of disciplined practice. The number of gamblers who ever achieve their millionaire status will be rare cases.

Then you’ve got the squared-away gamblers that have dedicated their lives to their craft. This set of gamblers understand every aspect of casino gambling or sports betting. Inside and out they are masters in many ways.

No stone is left unturned in their quest to become a professional gambler. Many of these types of gamblers will spend 80+ hours per week working on their skills.

Sadly, such a commitment of time and resources could still see the gambler losing money in the casino. The ability to break through and become one of the elite gamblers is reserved for only a select few.

Progressive Slots Offer Massive Payouts Paired with Terrible Odds

Slot machines are the most popular games in the casino. Many would immediately point out the tremendous progressives as a premier selling point.

As an avid casino gambler that tends to avoid slot machines, due to their high house edge. It’s hard to argue the allure of the mammoth payouts awarded from progressive jackpots.

Unless you consider the ridiculous odds a valid argument. I happen to believe that a tremendous deterrent.

Let’s first consider the RTP on progressive slot machines. Megabucks is the king of all progressives, with the smallest jackpot starting at $10,000,000.

Row of Slot Machines

That’s some legit money for any slot machine enthusiast. Unfortunately, the RTP on the game is an abysmal 88%.

That means for every $100 you bet chasing your fortune; the casinos will take a cut of $12. For those of you that haven’t taken a deep dive into the house edge and how it affects every bet you make in a casino. That 12% house advantage is terrible.

Furthermore, the odds of hitting the elusive jackpot is roughly 50,000,000 to 1. The odds won’t improve much by trying a game with a less impactful pot. You’ve got a 10X better chance of being the victim of a shark attack.

Card Counters Must Play the Long Game

Blackjack is a favorite game of advantage gamblers and savvy bankroll cautious gamblers. The game offers players the opportunity to diminish the house edge as much as possible.

In some instances, you’ll be able to eliminate or even flip the advantage on the casino.

By using the basic blackjack strategy, many gamblers are able to reduce the houses’ advantage to a mere 0.5%. That’s a favorable position to be in when you’re trying to get the most bang for your buck in the casino. Still, it won’t make you a millionaire.

Card counting, on the other hand, will give you the edge that leads to long-term profits. However, it’s a long road to making your first million dollars from card counting.

The act of card counting is more accessible than the novice might imagine. So, that you can cover that aspect with proper practice. The art of evading the casinos and managing your bankroll takes meticulous care.

Card counters see margins of decimals in many cases. That means you’re going to need patience and a hefty bankroll to stow away over a million dollars.

Sports Betting Can Make You a Fortune If You’re Among the Top Punters on the Planet I’ve always had a fascination with the most elite sports bettors.

I followed Billy Walters’ and Tony Bloom’s careers. Much in the way an aspiring composer might study Mozart or Vivaldi. It’s been a passion that has led to a rich and rewarding hobby, but nowhere close to a million dollars from my efforts.

Many amateur sports bettors fail to understand the complex math involved in becoming a profitable gambler.

The most significant obstacle faced by punters is the vig. The vig refers to the money charged by sportsbooks (or bookies) for each losing bet.

For example, you place a $110 wager on the Cowboys to cover and win $100. The other half of bettors bet the same $110 on the Eagles and lose, and the sportsbook makes $10 from 50% of the total bets.

The vig means you must win nearly 53% of your wagers to sustain a profit. It’s also the reason handicappers work so diligently to get equal action on both sides of any wager. As long as the sportsbook can get each side bet equally, they are guaranteed to turn a profit.

Many recreational sports bettors will claim to be profitable or at least break even. These punters believe the claims to be valid.

However, that’s because they aren’t keeping accurate records of their wins and losses.

If you develop a sports betting system for finding the best values and accurately predicting winners 53% of the time. you can print your own money. Sadly, this so far has been reserved for the most elite sports bettors on the planet.

Estimates suggest that fewer than 3% of sports bettors ever sustain a long-term profit. Still, claw your way into the top 3%, and the millions upon millions will be there waiting.

Poker Professionals Hardly Flinch at a Million Dollars

If you’ve ever spent much time observing professional poker players. You have a skewed image of what a professional poker player is at the core level. Most professional poker players are battling in cash games to make a livable income.

Many of us see the elites playing for millions and traveling all over the planet to exotic locales. These players represent the top 1% of professional poker players.

Aria Las Vegas PokerGo Cup 2021

The level of discipline and ability needed to reach these heights merely isn’t in the cards for most people. Fortunately, poker remains a viable path for making a million dollars from gambling.

You are going to work harder than you’ve ever had to work at anything your entire life to get there.

The Lottery Is NOT a Valid Retirement Plan

I chuckle, but it’s alarming how many people I bump into that believe just that. The lottery offers players a tremendous variety of ways to score a million-dollar payday.

That’s one of the reasons gamblers flock to lottery centers and convenience stores to try their luck. There’s even a large chunk of lottery players that find the scratch-offs entertaining,

The lotteries are hunting for new and exciting ways to draw players back for more. The most obvious being the ever-growing prizes that close in on $1 BILLION.

Regardless of how much money is out there for the taking, a low number of players ever get a million-dollar prize. Furthermore, there’s no method for improving your terrible odds of winning.

No, buying more tickets will not increase your odds. Save your money for investments that can help your efforts to retire before the age of 80.

Everything Else Is a Complete Waste of Time

As if the previous activities weren’t challenging enough to break in and make a truckload of money. Pretty much all gambling activities not covered are a more significant waste of time.

I can’t think of another casino game that would ever put gamblers in the position to make $1 million or more. Except for the possible exception of baccarat. Even then, winning that vast sum of money would require you to be betting an insane amount for your average bet.

Casino Floor

For the average gambler, keno, bingo, craps, and roulette would all prove impossible to make a million dollars. Then any money won would be lost back to the casino as soon as you began playing again.

The problem with gambling to a million dollars is what you do once you’ve reached your goal. In almost all instances, you will lose the money back to the casino.

Final Thoughts

How do you feel about the prospect of gambling your way to millionaire status?

In all fairness, I can’t say that I’ve ever tried. I’m not in a position to put my family in that type of financial situation. Supposing I made a maximum effort towards gambling 100%, there are no guarantees.

I have close friends who have cashed seven-figure checks from poker tournaments. I can confirm; they are a rare breed. If you decide to make a run at a million, I wish you all the luck and hope to hear your story one day.