The gambling is one of the fastest growing industry in the world with a 11.5% CAGR from 2020 to 2027. Of course, there are many reasons for such a fast growth rate. The main one being that people around the world like to gamble. However, is it possible to Get Rich from Gambling and what are the odds of that happening?
First, why do people gamble in the first place? The most probable reason is because it is a fun and exciting hobby. For those who bet on sports, it adds more excitement to the game they are watching. The same can be said for casino players. There is a certain thrill about the flip of a card of the spin of a wheel deciding your win.
Needless to say, there are many reasons as to why people like to play online casino games or sports wagering. The majority of people do it for the fun while a few other do it for a living. Of course, the end goal is to make money but what are the actual odds of becoming rich from gambling?
Is it Really Possible to Get Rich from Gambling?
There is an endless number of games of chance in casinos, sportsbooks and other gaming rooms around the world. In fact, every year new casino games or ways to bet on sports are made. However, in the end the odds are always in favor of the gambling operator. Despite it all, people are always willing to wager a few dollars for the small chance of winning.
Fantasy Sports Professional – While it is mostly known as a game between friends, professional fantasy sports players can win large prizes. However, it will take several tournaments before they can win enough to become rich.
Winning the Lottery – Most countries around the world have some kind of lottery system with millions of dollars in prizes. In South Korea, there is the Nanum Lotto while France has many different types of lotteries available. The odds of winning are very small but the cost of playing is low bringing in a large crowd. For example, the Powerball and Mega Million lottery winners in the U.S. have won prizes well over a billion dollar. However, the odds of winning are 1 in 176 million.
Successful lottery bettors recommend playing them once a week and spending $150 a year on the tickets. You are likely to get an eight percent return if you stake $150 per year. However, having a lot of luck is still a necessary to win big lottery jackpots.
Play Progressive Slot Machines – Progressive slot machine jackpots can make you a millionaire overnight and have a higher winning probability than the lottery. While the odds of winning are still very low, its very exciting to play online slot machines. Needless to say, they are a favorite game amongst casino gamblers.