There are a lot of different ways to make money gambling. Anyone that is not gambling full time does have a serious disadvantage compared to professionals. There are so many systems out there, that it can be confusing where to start or how to go about it.
Sports arbitrage betting is when you place two or more bets with different book makers at the right odds to insure a profit no matter the outcome of the event. This might be a little hard to understand at first, here is an example of an arbitrage.
You place a bet for $100 with Bookmaker #1 for Team 1 to win @ 2.1 odds
You place a bet for $100 with Bookmaker #2 for Team 2 to win @ 2.1 odds
You have invested $200, no matter which outcome, if team 1 wins you get back $210, and likewise with team 2. So you have made a $10 profit from a $200 investment. This means that you got a 5% return on your investment.
Seems easy right, well its not. To find these arbitrages requires a lot of time and effort. There are services that do help with searching for arbitrages.
If you would like to make money gambling, free bets arbitrage is probably the best place to start. It works on the same principal as sports arbitrage betting, except you don't need to find great odds from bookmakers. You can incur a small loss on your arbitrage but still make money because the bookmaker is giving you the money to bet.
Casino Bonus Hunting
Casino bonus hunting was great a few years ago when casinos where fighting for clients. These days its harder but it is still profitable. The casino will give you a bonus when you first deposit. Then they require you to wager a certain amount in the casino software. By using the proper strategy in certain games, you can statistically give your self an edge on some casinos.
You can also make money gambling by buying picks from good handicappers. These guys are full time studying the sports, so they have an edge. The good handicappers will charge more than amateurs trying there luck, so unless you have got a decent amount of money to gamble, it is usually not worth it.
If I were starting out again, I would start with free bets arbitraging. Its a simple easy system to make a decent amount of money in a short amount of time with no risk. Casino bonus hunting is also a good idea when you are starting out but you can have quite a few losses thrown in with your wins. Its better to do this after you have done the free bets arbitrage.
There are a lot of other systems as well, enough to fill a book. A lot of them are losers, so be vigilant when you read about a system that is a "sure thing".
Before starting to play poker for a living, you need to ask yourself that are you ready to play poker for your entire income. It is certainly possible to do so, but it is crucial to look back at your past game play. For instance, how well did you handle your bankroll when you made a big win? Did you instantly invest your winnings or jump into the stakes?
But more importantly, you should evaluate your actions when you had a big loss. For example, what did you do when you did not make any cash for 10 straight tournaments? Did you move down or up in stakes? You need to be honest in judging your reactions, for if you are not then you certainly are not ready to be a professional poker player.
Compared to playing professionally in live casinos, online casino players enjoy a lot of benefits. For instance, nobody at the table would try to intimidate you and consequently make you tilt. In online casinos, you will ALWAYS find an open game; you will not have to wait for a long time for the tables. There are no gas and car expenses involved in travelling to the casinos; likewise, you do not even have to tip the dealer. Moreover, the house rake is also way lower.
Hence, if you are certain to become a professional poker player then, you should start with online poker and live poker. It is highly recommended to learn every bit that is to poker through guides, books and even coaches before deciding to shift to professional play.