Do you consider crypto gambling an investment or a way to make money?

n00bas

n00bas

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I know this sounds pretty silly, but I personally know a few people who don’t work and make a living from crypto gambling. Mostly poker, around 40%, but also betting and slots. What’s your opinion on this?
 
If considering this, be careful. Try to be prepared for hiccups, have other income sources.
 
Thanks for the reality check, folks. Guess I got caught up in the success stories without considering the risks. Anyone here tried to supplement their income with gambling, even if not as a full-time thing?
 
Look, I've been in the gambling world for over a decade now, and I've seen it all. Yes, there are people who make a living from gambling, particularly poker and sports betting. But for every success story, there are hundreds, if not thousands, of cautionary tales. The thing is, successful gamblers treat it like a business. They have strict bankroll management, they study constantly, and they have the mental fortitude to weather massive swings. It's not just about skill - it's about managing risk and variance. And let's be real, it's a tough, stressful way to make a living. Most people are better off keeping gambling as a hobby and focusing on more reliable sources of income.
 
the_Diligentson said:
Look, I've been in the gambling world for over a decade now, and I've seen it all. Yes, there are people who make a living from gambling, particularly poker and sports betting. But for every success story, there are hundreds, if not thousands, of cautionary tales. The thing is, successful gamblers treat it like a business. They have strict bankroll management, they study constantly, and they have the mental fortitude to weather massive swings. It's not just about skill - it's about managing risk and variance. And let's be real, it's a tough, stressful way to make a living. Most people are better off keeping gambling as a hobby and focusing on more reliable sources of income.
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@the_Diligentson That's a sobering perspective. How do you think crypto has changed the gambling landscape?
 
xRays said:
Anyone here actually tracking their gambling wins/losses accurately? Curious about real long-term results.
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I keep detailed records. Over 3 years, I'm up about 5%. Not enough to live on, but nice bonus.
 
n00bas said:
@GG777 That's interesting. Mind sharing what types of gambling that 5% is from? And how much time you put into it?
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@n00bas Sure, happy to share. My 5% profit is mainly from a mix of poker and sports betting, with a tiny bit from advantage play in blackjack. I'd say it breaks down to about 60% poker, 35% sports betting, and 5% blackjack. As for time, it varies, but on average I'd say I put in about 20 hours a week.
Poker takes the bulk of my time - I play mostly low to mid-stakes cash games online. For sports betting, I focus on football and tennis, spending a few hours each week analyzing stats and looking for value bets. The blackjack is just occasional when I find a good promotion.
It's worth noting that this 5% is after accounting for all my losses, rake, and the time I've invested. While it's a nice supplementary income, it's definitely not enough to live on, especially considering the hours put in. And there have been some pretty wild swings along the way - months where I was down significantly before things turned around.
Just to be clear, this isn't something I'd recommend as a primary income source. It takes a lot of discipline, emotional control, and honestly, a bit of luck to stay profitable long-term. It's more of a serious hobby that happens to pay for itself and then some.
 
GG777 said:
@n00bas Sure, happy to share. My 5% profit is mainly from a mix of poker and sports betting, with a tiny bit from advantage play in blackjack. I'd say it breaks down to about 60% poker, 35% sports betting, and 5% blackjack. As for time, it varies, but on average I'd say I put in about 20 hours a week.
Poker takes the bulk of my time - I play mostly low to mid-stakes cash games online. For sports betting, I focus on football and tennis, spending a few hours each week analyzing stats and looking for value bets. The blackjack is just occasional when I find a good promotion.
It's worth noting that this 5% is after accounting for all my losses, rake, and the time I've invested. While it's a nice supplementary income, it's definitely not enough to live on, especially considering the hours put in. And there have been some pretty wild swings along the way - months where I was down significantly before things turned around.
Just to be clear, this isn't something I'd recommend as a primary income source. It takes a lot of discipline, emotional control, and honestly, a bit of luck to stay profitable long-term. It's more of a serious hobby that happens to pay for itself and then some.
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💯, even if you're winning now, luck can turn. Never gamble with money you need for living expenses.
 
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