While I am a theoretical physicist by training, my first job offer after graduation was not in physics. It was in gambling. Less than a couple of months after defending my dissertation I was headed to Los Angeles. Here, in the heart of the southern part of the Golden State was to be my first job. More precisely, it was to be for a gaming company in Beverly Hills. The company was founded by two gamblers who had happened to make a fortune playing Blackjack in Las Vegas. Now they had other people play for them in local Southern California casinos.
But they were not playing against the house. They were playing for the house which always has an edge. My company would simply employ these people to work as prop players. As such, they were trained to play various casino games (Blackjack, Pan Nine, Pai Gow Poker) and were paid an hourly wage for that which was certainly very competitive compared to the minimum wage. I was in charge of developing training software for these players based on optimal strategies that I was also responsible to work out.
For these people it was really a risk free job in gambling. There are more players like that out there. Because of the huge popularity of poker (especially Texas Holdem), some casinos employ prop players to keep the poker tables running and make money off “the fish”: inexperienced players, frequently tourists.
There are also prop daytraders who trade using the capital of a firm that employs and trains them in their proprietary strategies. However, often prop traders are required to put in some deposit, a small capital of their own. Yet, this is also pretty much a risk free job save for the deposit that may not be returned.
And there is yet another good way to profit from gambling or daytrading. Who do you think made more money during the California Gold Rush in the mid 19th century: those mining gold or those who were supplying shovels to them? And whose job was easier? While some people did strike gold and became rich, it’s probably safe to say that many more ended up rich by selling tools to the miners. And there is nothing wrong with that: virtually every human activity requires tools, that’s what separates humans from the rest of animal world, and before you develop your own, if necessary at all, it only makes senses to start with what is already available on the market.
Yes, it is certainly possible to make money as a vendor, a developer of systems, strategies, or other tools, without actually gambling or daytrading, although a respectable vendor is expected to have some practical experience in the field in which he operates. These days, with the Internet becoming the most ubiquitous and versatile form of communication ever, it is very easy to sell tools for gamblers and daytraders via one’s own website.
All you need to know, except for the expert knowledge of gambling or daytrading, is how to go about it. How to create your own eBook or software, how to create a website for its online presence, and how to market it. While all this may seem a bit daunting at first, for first steps in virtually anything tend to be particularly challenging, many have done this already and many more will certainly follow in their footsteps. In fact, it is much easier to do so these days than it was a few years back as now there is more information and more tools dedicated to helping new authors publish and market their expert work.
Recently I have come across some excellent work that specifically addresses the job of creating and marketing betting systems on the Internet and makes it particularly easy through the tools it provides. This work can be also of use to those who would like to know how to market trading systems and strategies.