How can I make money from gambling and betting? Second Answer

 In short, through a precise and astute calculation of odds so that you know when a gambling proposition is in your favor.

Obviously, you’re wagering against some pretty “astute” people as well. So such a proposition can be a rare find.

Table games such as blackjack offer an opportunity to “count” the deck, theoretically making it possible to identify such “positive” propositions. Casinos, however, have introduced a number of countermeasures that limit the success with which that tactic can be employed.

Some slot machines and video poker games have progressive payouts on the top jackpot. Some gamblers are sufficiently skilled to identify when those progressives push the machines into a positive wager proposition (it doesn’t occur often).

Slot/video poker players usually receive inducements from the house that effectively rebate a fraction of their expected losses on their play. For video poker, those losses are typically based on general player skill, which can vary substantially vs the loss expected with “expert strategy” play. In isolated cases, the loss incentive can exceed expected expert play loss, providing an opportunity for a positive proposition.

Sports betting is yet another opportunity for a positive proposition. Bookmakers ultimately aren’t concerned about actual odds of one team beating another … they’re true goal is to align $’s bet so that winners on one side are offset by losers on the other. Bookmakers reap their profit on the wager “vig”, a small advantage to the bookmaker built into the odds on both sides of the spread.

Because the spread is effectively driven by gamblers’ sentiment, if a one-sided bias toward one team is reflected in the betting, a positive proposition is again at hand. However, handicapping teams is best described as an “art”; it involves numerous estimations and doesn’t reflect certain probabilities in the manner of the prior mentioned wagering.