Thread: How Do Baccarat Professionals Live Off Their Baccarat Winnings?

i've always wondered how baccarat pros live off of their baccarat winnings. i hear a lot about how you should never put money in that you are afraid to lose and such, but once you start winning, when should you cash out? (mostly referring to online baccarat here) i mean, if you play baccarat as your job and don't work somewhere else, you're going to need some of the money that you win at some point, so my question is, how do you balance trying to build a bankroll, with making enough money to pay bills and stuff? i'm not sure, but it seems like you would have to win a lot pretty consistently to be able to keep moving up while also paying rent. does anyone have experience with this?

I guess this is similar to a question I've had recently, Is there any quantum (I like using big words. Hehe) leap between play and real money? Usually, my reads are dead on with play (unless its like totally off the wall). What advice would you say from going to real from play?

For me, there is a pretty big difference in real $ more pple play uptight as u probably espect..... i just did it like 3 months on zodiac casino...

But in general, the play is more serious. It will ultimately depend on what's the minimum bet the table and casino you're playing at accepts, but as a whole the play gets better. Keep in mind that the higher bets table you play, the better the play usually is. Small betting minimum tables can be like play money sometimes.

So you've answered your own question - you make a living out of baccarat by having a substantial bankroll and being a consistent winner. Big bankroll is needed to help you survive downswings (you will not stop eating when you loose, will you? ), and winning will take care of everything else.

The thing is, is that I don't think good bankroll management principles change a whole lot regardless of the level of play. That said, the majority of pros do not adhere to good bankroll management.

I read an interview once in which some "casino expert" stated that about half the big-name baccarat players you see on TV or read about have a negative net worth. The other half are multi-millionaires. I have no idea if he's right or not, but reading about some of these guys, I don't think it's particularly far-fetched.

The pros do it by winning consistently over long periods and cashing out amounts that still leave a comfortable bankroll for the levels they play in their accounts.

How often you cash out, how much you cash out and how much constitutes a "comfortable" bankroll are entirely up to the individual though.

The reason why some baccarat pros have a negative net worth and some are banking as multi-millionaires is because they've made a decision just like any small business owner does. I own a small tile installation company and my net worth right now is definitely in the negative. They've just made the decision to do what they are good at.

Hello all,

Thank you all of you for sharing your insights on how baccarat players spend their winnings.However,I think for a lot of us our concern is to find a method that wins more than it loses,a method that professional baccarat players are using.

Now this is reality time as well as my 2 cents worth.Why bother about how to spend and manage your money when you haven't mastered how to win on a constant basis yet?The objective is to start getting the money from the casino into your pocket and when you can do that regularly then consider how to manage your bankroll.

No offence to anyone I am just speaking my mind

How very true! You got to win first.

Also, to answer the question of real play and money play and when is a good time to play for real? When you stop guessing at how to win and start playing a completely mechanical method. One where you have no decisions to make. You follow rules and it either is a winning method or not. If it wins you play - if not you look for a real job.

RE: Bankroll. Bankrolls are established from mathematical risks of ruin. If you have a method of play you can test it against a statistically significant number of decisions. If it is an overall winner you can than determine your risk (read maximum draw downs) and size your bankroll on that in relation to table minimum. When you have doubled your bankroll you can then double your bet size(s).

Archer

Originally Posted by tee kong kia

Hello all,

Thank you all of you for sharing your insights on how baccarat players spend their winnings.However,I think for a lot of us our concern is to find a method that wins more than it loses,a method that professional baccarat players are using.

Now this is reality time as well as my 2 cents worth.Why bother about how to spend and manage your money when you haven't mastered how to win on a constant basis yet?The objective is to start getting the money from the casino into your pocket and when you can do that regularly then consider how to manage your bankroll.

No offence to anyone I am just speaking my mind

When is your money your money and not the games money?

You see if you have an amount of money that you will invest in the game, then its not your money any more, they are an part of the game and you can not change that.

I guess i am all ears to hear how some one manage there money.

Cheers LS

This is pretty simple. It is your money until you lay it down in the betting circle. Then it is not your money anymore until you get paid or lose the bet.

If you are playing a losing strategy then it is expendable income and just becomes part of your entertainment budget.

Archer

Originally Posted by luckystrike

When is your money your money and not the games money?

You see if you have an amount of money that you will invest in the game, then its not your money any more, they are an part of the game and you can not change that.

I guess i am all ears to hear how some one manage there money.

Cheers LS

Thanks Archer but...

Your money is your money when you don't play any more or is it not.
When you play the game for 7 years is not your money, its the games money or is it not.

You say budget i say okey but how do any one manage there money to increase there account that is an part of the game and how do you pull out an amount to become an part of you, your money.

First its about how you handel loses and how you manage to break even.
Then its about how you handel your winnings and let your bankroll increase.

How to get some kind of balance that increase over time as an investment in the game if you pull out 1500 Euro for rent, food and so on.

It becomes an serios issue with an large bankroll to invest in the game.
Less then 8000 Euro will not cut it or would it.

How is it done.
Agressive or grind out an profit...

I just see my self be spending 8 hours a day 4 to 5 times a week to make a living.
I don't think its for me, i am an family man.

Cheers LS

OK, fair enough. I thought this was all academic but I will spell it out for you.

If one is winning; overcoming the house edge then first one must keep an account and record the % win per dollar bet as close as possible. The house is NOT gambling. They expect to win their calculated odds and therefore are INVESTING. If you are winning over 7 years then you are not gambling either. You are investing.

Your record keeping should give you the facts you need to overcome "risk of ruin." Risk of Ruin Calculator Your bankroll should be calculated to withstand the draw downs you calculated from your risk of ruin formula (which should be about 5%). Therefore you MUST ALWAYS maintain a minimum bankroll amount based on that formula. If you wish to increase your profit you must increase your average bet size AND increase your bankroll accordingly. So you can keep the profit or a portion thereof depending on your personal investment strategy. But also consider your comfort level.

An old mentor of mine used to say "Ninety percent of good card counters either go broke or get barred." He was talking about BJ but the same holds true for Baccarat. They go broke because they haven't calculated their risk of ruin and play a game with an under funded bankroll. Just as in any business which shows a profit you must be capitalized.

Hope this helps.

Archer

Originally Posted by luckystrike

Thanks Archer but...

Your money is your money when you don't play any more or is it not.
When you play the game for 7 years is not your money, its the games money or is it not.

You say budget i say okey but how do any one manage there money to increase there account that is an part of the game and how do you pull out an amount to become an part of you, your money.

First its about how you handel loses and how you manage to break even.
Then its about how you handel your winnings and let your bankroll increase.

How to get some kind of balance that increase over time as an investment in the game if you pull out 1500 Euro for rent, food and so on.

It becomes an serios issue with an large bankroll to invest in the game.
Less then 8000 Euro will not cut it or would it.

How is it done.
Agressive or grind out an profit...

I just see my self be spending 8 hours a day 4 to 5 times a week to make a living.
I don't think its for me, i am an family man.

Cheers LS

Hi Archer and thanks for your contrubution.
Yes i know ROR but i still find it complex and hard how some one can pull out 1500 or 2000 Euro from hes investment.

But how knows maybe i will get there one day...

Cheers LS

Originally Posted by Archer

How very true! You got to win first.

Also, to answer the question of real play and money play and when is a good time to play for real? When you stop guessing at how to win and start playing a completely mechanical method. One where you have no decisions to make. You follow rules and it either is a winning method or not. If it wins you play - if not you look for a real job.

RE: Bankroll. Bankrolls are established from mathematical risks of ruin. If you have a method of play you can test it against a statistically significant number of decisions. If it is an overall winner you can than determine your risk (read maximum draw downs) and size your bankroll on that in relation to table minimum. When you have doubled your bankroll you can then double your bet size(s).

Archer

Hello Archer,

Thank you for your comments.I am here becos I wish to learn about baccarat which I do not know much about.What kind if methods are effective in your opinion?Of course,you cant win everytime a long as a method has a stop loss and it can recover nicely.I think its worth a punt

Originally Posted by Archer

Your record keeping should give you the facts you need to overcome "risk of ruin." Risk of Ruin Calculator

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Code:

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Calculator: Risk of Ruin

Phil Ivey looks so cool maybe that's how winners live a life