Do what you love and you'll never work a day in your life. We've all heard the phrase, and probably scoffed at it. It's much easier said than done, and what if what you really love is playing slots? Playing slots for a living may have flickered across your mind once or twice before, but you probably have never really considered it as a viable option. Today, we're discussing if professional slot players really do exist, if it's worth it, and if it's even legal.
The Law Of It All
Professional gamblers do exist, although you'll usually find them playing poker or other games of skill. In the UK, it's not illegal to make a living from gambling, as that all depends on what you think a ‘living' is. When one person may be fine with making £100 a week and living off that, it's difficult to set any hard rules about what is ‘professional' gambling and who is a casual player. Because of this, it's also important to note that professional gamblers do not pay tax.
The Gambling Act states that all winnings from online or offline gambling are tax-free and the same rule applies to those who try to make their living this way. HMRC, in fact, do not recognize gambling as a taxable trade. So, so far we have an untaxable income doing something we love — sounds too good to be true right? Lets see how hard winning your way really is.
Advantage To Slots Players
As we said earlier, most professional gamblers opt for a game like poker as it requires skill and therefore they can have some control over the game. When it comes to slots, however, the closest thing we have to compare to a professional player is an advantage player. These are players who spend a lot of time looking for new deposit bonuses and then play with a strategy to maximize their winnings.
The strategy they employ is based around the casino's wagering requirements. The lower the wagering requirements, the better it is for the player. They will generally reach these requirements by playing machines with a low volatility. Low volatility slots keep your bank roll fairly stable, so you can spin through your requirements pretty speedily in order to claim the bonus cash. There are no guarantees of a profit in this strategy, however many players play as a team and pool their money. This gives them a higher chance of winning some cash.
It's a intelligent idea in theory, however many of the players end up being barred from the site when the casino realises what they're doing. Moreover, many casinos have started adding a clause to their bonus terms and conditions, explicitly prohibiting this type of play and refusing to pay out. Though this may be one way to make some money playing slots, it's not the easiest and it's also time sensitive. Once more casinos catch on to the strategy, then it's game over for these types of players.
Jackpot hunters are players who seek out progressive jackpot games, when the jackpot is just about to be claimed. They work out how often a certain jackpot slot pays out, how much it pays out on average and around what time it's usually claimed. Using this information, they can predict when a jackpot may be about to drop.
There are several websites that collate all this date for other players to use. Slots like Mega Moolah have a huge following and so it's stats are usually well known within the gaming word. Jackpot hunters, therefore, are more inclined to play lesser known jackpot slots. They may win less here, but they'll have less competion for the prize fund.
If you ever glance through a list of your casino's big winners, you shouldn't be surprised to see the same names appearing over and over again. This could make you think that these players are the professionals (or just really lucky), but in fact it's much simpler than that. The reason you see repeated winners at a casino is not due to strategy or a systems. Most of the time, these people are high stakes gamblers (or high-rollers). These kinds of players often win big playing slots, but they also lose often too. You need a very large bankroll to play in this way, and it can be difficult to get right.
If you do try to ‘go big' then it's important to find a slot machine with a high RTP and a high variance. This will give you the best chances of winning an amount that's big enough to live off, as opposed to small frequent wins.
Does It All Come Down To Luck?
If you're simply a slots player looking to increase your chances of winning, then any of the above strategies are good advice. However, if you're looking to making a living off slots, then it's probably best to reconsider. Slots are a game of luck, rather than skill, and therefore there is no way of ever finding a strategy that allows you to manipulate the game in your favor.
This means you can never be sure of anything when it comes to playing slots, and even with a wealth of research, resources and knowledge, you still won't be able to make a living playing slots. The uncertainty of slots is half their appeal, so keep playing them for entertainment. If you do want to become a professional gambler then perhaps look at a skill based game instead, but don't go quitting the day job just yet!