Professional Gambler

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Until I was betting alone [Paulsen now has 'business partners']. The weekly revenue was frequently more than 10, euros. Once in a while there were longer periods where things went wrong.

But you have to come back from that. On the other side, you have to keep the good periods going as long as possible without letting go of your reason.

Both in the positive sense and in the negative. You mainly bet on football. Whether the ball goes in or bounces off the post is often a matter of luck — how do you calculate your tips?

I developed a programme myself that works completely off of mathematics. My bets have nothing to do with luck. I never leave anything up to a gut feeling, it's all about my calculations.

Do you have a degree in anything, or did you always know you wanted to be a gambler? I studied maths, but I started playing more and more on the side.

I developed the programme at college and started playing in the big bad world. Backgammon, blackjack.

Later I started with football, and then I developed a programme for that while at school. Back then, you had to bet in writing. Initially, I didn't understand it at all, but I placed my first bet anyway.

I was pissed off — we lost like 10 marks. Then I started thinking and making all the calculations. We placed our first professional bets during the European Cup in We won about 4, marks.

Then, when the World Cup rolled around, my programme was completely finished. And that's why we were so successful! After that Word Cup, I quit my job as a programmer and since then I've been in the betting business full-time.

That was pretty brave, to quit everything else because of a good World Cup, becoming a professional gambler. It sounds crazy, but I was just that good at it!

I can do it. When I was 26, I won 20, dollars at the backgammon world championship in Monte Carlo. It wasn't just a whim to completely focus on betting.

I knew would work. You were a young man with 20, dollars on your pocket in the middle of Monte Carlo. You must have been having delusions of grandeur, right?

Yeah totally. I did a few stupid things, or duly enjoyed myself to put it another way. Girls can tell when you're successful and Monte Carlo is a good city for having fun.

After that win, I travelled around for another six weeks and kept gambling. Not really. Back then I eventually left Monte Carlo.

I could tell that I was having insane luck and that it couldn't last. It was too much. I went to Monte Carlo with 5, marks and after six weeks of partying and fun I went to St.

Tropez, Nice and Paris. Ultimately I made my way back to Berlin without having lost money. Serious inquiries only.

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Professional Gambler

Beste Suchergebnisse bei AbeBooks. Weitere Bilder. Über Euroleague Ergebnisse Live. Buchbeschreibung Brand: Regency Pr, Ergebnisse: Gebraucht Paperback Signiert Anzahl: 1. Verlag: Brand: Regency Pr

Keep your composure. Do not become an emotional wreck crying in the casino toilets after a bad run. Equally, try to avoid getting a round in at the casino bar for every punter after a hot streak.

If you have no grasp of finances and budget then you are up the creek without a paddle before you have even started. Every professional gambler knows what they can afford to lose.

On the flip side, there is a reason why so many people fail to make it as pro gamblers. Be realistic with your expectations but also aim for the best.

You will stare adversity in the face but you will also reach the euphoric heights. Reputation might be one of the last things you think about when becoming a professional gambler but it is actually one of the most important factors.

If you can get good results using honesty and integrity then more people will buy into your product and respect you.

The larger your following, the more money you can make for yourself and others. Cheating, scamming and screwing over people is a one way path to falling flat on your face… or lying in a ditch in the Nevada desert.

Your choice. By David Sheldon March 6, Most Popular. Sports Top 10s. August 15, — 5 min read. Guides How-To. Since a federal court ruling two years ago, there are tax deductions for professional gamblers similar to those for self employed contractors and small businesses.

Expenses like travel, meals, and lodging can be cut from their total income. Show that you treat the game like a business all year long; that you play to make a profit, not to have fun with your friends.

Make a profit. Everyone loses money sometimes. This is the same way the IRS distinguishes between a small business and a hobby.

Study hard. Prepare for each tournament with a poker expert. This will show you consider gambling your job, and that improving your game is part of professional development.

Since gambling is usually for fun, you have to show that you are not playing for pleasure, but for a living. It is better to go by yourself.

With a sensitive issue, such as professional gambling, having your tax strategy be IRS ready will be vital in keeping your winnings in your pocket.

Winning against the Internal Revenue Service is possible, as long as you hold the right cards in your hand.

You can also deduct money used to hire a poker coach or someone to keep track of your results. For instance, taking a taxi and flying coach would arouse less suspicion than renting a private jet and a stretched limo.

That also applies for high rollers, who are often offered complimentary hotel rooms, buffets and rides by casinos.

But you still have to pay taxes on your winnings. Click here to cancel reply. You must be logged in to post a comment. Are You a Professional Gambler?

What Expenses Can Be Deducted? List of Possible Deductions Internet Costs, if you regularly play online Home office expenses Tax advice Subscriptions to gambling magazines and newspapers Gaming fees, chat room fees Club membership fees and dues Clerical and record keeping expenses Travel and meal costs during tournaments Wages paid to relatives or employees for their assistance You can also deduct money used to hire a poker coach or someone to keep track of your results.

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Professional Gambler Video

A Day In The Life: Andy Holding, professional gambler and horse racing pundit