10 Ways Gambling Can Make You a Millionaire

With the exception of 6 states in the US, the lottery is the most accessible option to gamble anywhere. All of the states who offer the lottery have both Powerball and Mega Millions which are each drawn 2 times a week. Most states also have exclusive games as well. For example, Massachusetts has MegaBucks and Mass Cash. Texas has Lotto Texas.

In August 2017, the city of Chicopee, Massachusetts saw the largest single winner of a Powerball jackpot claim $750 million (before taxes). I should let you know that while it is easy to play the lottery, the odds of winning the big jackpot are astronomical. The odds of winning the Mega Millions are 1 in 258,890,850. The odds of winning the big Powerball jackpot are 1 in 175,223,510. And every time they make the slightest change to the game, which seems to be every 2 or 3 years, the odds change in a big way.

The big jackpot isn’t the only way to win in lotteries. All lotteries have secondary prizes that are awarded for matching any amount of numbers. In a lot of cases, if you miss a single number, you can still qualify for $1 – $2 million. The odds of winning the second highest jackpot in Mega Millions are 1 in 3,904,701. The odds of winning the number 2 prize in Powerball are 1 in 11,688,054.

Finally, there is the option of playing daily lottery numbers. Most of these have a pick 3 or pick 4 options where you select 3 or 4 numbers from 0-9. Hitting an exact number can pay up to $10,000 in some states. Since you have a 1 in 10,000 chance of hitting the correct number, you can keep playing until you reach that million dollar goal, but it will take a while.

If you’re a good poker player (or just plain lucky) you could try your hand at winning the World Series of Poker. The good news about WSOP is that there is a lot of prize money available for the taking. In 2018, there were 78 different events with top prizes of over $50 million. The big game that occurs at WSOP it the $10,000 No Limit Hold ’em Main Event. This is where the big money is in the tournament.

The top 9 of this tournament in 2018 all took home prizes above $1 million. They were:

• 1st place – John Cynn – $8,800,000
• 2nd place – Tony Miles – $5,000,000
• 3rd place – Michael Dyer – $3,750,000
• 4th place – Nicolas Manion – $2,825,000
• 5th place – Joe Cada – $2,150,000
• 6th place – Aram Zobian – $1,800,000
• 7th place – Alex Lynskey – $1,500,000
• 8th place – Artem Metalidi – $1,250,000
• 9th place – Antoine Labat – $1,000,000

Another popular, big money game at the World Series of Poker is the $1,000,000 Big One for One Drop. This game featured the top 5 winners taking home at least $2 million. They were:

• 1st place – Justin Bonomo – $10,000,000
• 2nd place – Fedor Holz – $6,000,000
• 3rd place – Dan Smith – $4,000,000
• 4th place – Rick Salomon – $2,840,000
• 5th place – Byron Kaverman – $2,000,000

As you can see, you don’t even have to win first place to take home millions at WSOP. There are games that pay less than $1 million for the top prize that are less popular. If you enter and win a few of these games, you could quite possibly accumulate over $1 million in earnings.

 
If you are tech savvy and you know about gambling, you may want to start creating websites. Most online casinos count on websites to advertise and refer customers to them. In exchange, the online casinos pay these referring sites a commission. Just putting up a site with a banner ad, however, will not do the trick. You need a reason for people to come to your site first and then you must give a reason for these people to go to the casino site.

It takes a lot of work. Most of the time it takes a year or 2 just to start seeing a decent amount of traffic. And that is if you are creating scores of pages of content each month. You must know what you are talking about and relay it in such a way that the reader can understand. Additionally, you must know about creating websites and optimizing them so they show up on sites like Google or Bing. The great news is that if you can do all that, and get a network of sites going, it is quite possible to become a millionaire in the process.

Whether you are playing online, or in a brick and mortar casino, you have had to come across a game with a progressive jackpot. A progressive jackpot works like the lottery. If no one wins it, more money is added to the big jackpot until there is a winner. Most casinos will have progressive jackpots attached to slot machines or video poker machines.

Caribbean Stud poker, blackjack, and roulette are among table games that sometimes offer a progressive jackpot. Most progressive jackpots are in the 10s to 100s of thousands of dollars. Many tops the $1 million mark. Of course, they vary by a number of factors including length of time between jackpot wins. On September 28, 2018, a new online casino progressive game jackpot record was set. A player at Grand Mondial casino based in Europe played a 75p game called Mega Moolah and won €18,915,872 or approximately $21.9 million.

There’s lots of money to be made in the world of sports betting. And there are lots of options. Boxing, MMA, football, basketball, baseball, soccer, hockey–the list goes on. You can choose from professional, semi-pro, college, amateur, and even high school in some cases. You can make a big bet on a long shot and make tons of money.

Some of the biggest long shots in sports history include:

• The 1980 Men’s Olympic Hockey “Dream Team” had 1,000 to 1 odds of beating the Soviet Union team. A bet on the US of $1,000 on the game would have won you $1 million. (That’s $6,820,000.00 in 2018 dollars).
• Another 1,000 to 1 shot was the 2013 Auburn University Tigers football team. They were thought to have no chance to beat the University of Alabama Crimson Tide in the BCS National Championships. But many people who bet the long shot walked away millionaires that day.
• The 2011 St. Louis Cardinals beat the 999 to 1 odds to win the World Series.
• In 1987, the Minnesota Twins defied 500 to 1 odds to win it all and became world champions
• In 2009, Kentucky Derby winner Mine That Bird was given 50 to 1 odds to take it all.
• In 1990, 42 to 1 odds were given to a relative unknown challenging for the undisputed world heavyweight boxing championship. But Buster Douglas would beat the odds and Tyson to take the belts.

The other way to make money on sports betting is to place multiple bets on games. The likelihood of winning increases with more bets, but you have less money to work with on each game or event.

If you follow the history of gambling in any way, shape, or form, you are going to come across the MIT Blackjack Team. This was a team founded by JP Massar and Bill Kaplan. They trained teams of people to go to casinos around the world and count cards at blackjack. These teams ran from 1980 to 1993. On average, they would see profits of about $160 per hour playing. Over the years they made millions for both the players and their investors, sometimes with returns for investors around 300%.

When you count cards, you are assigning a positive, negative, or neutral (0) value to each card dealt to you. The total determines if you or the dealer has the higher statistical advantage. The drawback to this method is that it is a long-term strategy, so if you’re looking to become a millionaire, it will take a few years. If you do it the MIT method and use a team, you may get there quicker, but then you have to split your winnings. Also, casinos don’t appreciate card counters. While not illegal (as long as you’re not using electronic devices to count), they will ban you if you are caught. Depending on how reputable (or disreputable) the casino is, you may wind up injured.

There is no better time in history to be a writer. You can write for websites, you can write books that you self-publish and sell on Amazon, or you can go the traditional route and submit to a publishing house. Whichever method you choose, you can make good money writing. As I mentioned previously, you can spend a few years writing your own content on your own website, and you will get to keep all the money. But a quicker way to make money is to write for other websites.

Another option is to write a book. The king of booksellers is Amazon. If you want to forego a physical book, you can get offer a Kindle version of any book you write in a matter of a few hours. If you want to sell a physical book, you can self-publish. By self-publishing, you can offer it through Amazon or any venue that will give you the space to display it. Another option for a physical book is to send it to publishing houses to evaluate and determine whether they want to publish it. This is by far the hardest and longest method, but the benefit comes in the way of advances on copies sold, and possible options for more books.

Property ownership is part of the American Dream. And what better property to own than a casino? Most casinos today are publicly traded companies.

Among the largest publicly traded casino properties are:

• The Las Vegas Sand Corporation which includes the Venetian and the Palazzo.
• MGM Resorts International which owns the Bellagio, the MGM Grand, Mandalay Bay, The Mirage, New York-New York, Circus Circus, and the Excalibur.
• Wynn Resorts Limited, the parent company for Wynn Las Vegas and the Encore.

This is not a quick money making venture, but it can be quite profitable. The key here is a strong investment plan. If the stock pays a dividend due to a profitable quarter, then you need to reinvest the dividend, and buy more stock. You’ll also need some startup capital. While some casino stocks can be purchased for less than $10 a share, the popular ones I mentioned range between $30 and $120 per share. But if you want to make money, you have to spend money.

Mastery of any skill requires a coach. Even natural players need coaches to soften the rough edges. The good news is that gambling coaches are a real thing and they make good money. Anyone who hires a gambling coach is serious about getting better and is looking to make some serious money. As such, some gambling coaches can make anywhere from $100 to $500 per hour.

There are no certification or degrees required to be a gambling coach. You may need to have some sort of proof that you are good at the game you are coaching to a potential client, so you can’t BS your way through it. A gambling coach that makes the median amount of about $250 per hour can realize his first $1 million in the first 4,000 hours of coaching. To put that into perspective, a person who works a full-time job works about 2,088 hours a year. So if you work full time, you could see that $1 million in 2 years.

The old expression is that the house always wins. When you become a bookmaker you are the house. This profession will require you to have a lot of startup money to cover bets and as you grow you will have to hire people to help you collect.

As a bookmaker, you can provide your clients with a wide variety of betting options not offered by Las Vegas or other traditional avenues. For example, if a man wants to bet $100 on his kid’s little league game to win, you can give him odds and take that bet. If he wants to bet on the entire league, you can take that bet too. You can do popular variations like football parlay cards where bettors have to choose at least 3 winners to collect. The options are wide open. Just be careful of the law, and remember, that any bet you take, you may have to pay out on.