Can you be a professional roulette gamer?

The idea of being a professional roulette player may be appealing because of the illusion that you can make money whenever you want, without ever paying tax. Basically a license to print money. Unfortunately the facts of being a professional player are not so simple.

I’ve been developing Roulette systems and methods to be all kinds of casino games for around 20 years. See more of my technology at www.roulettephysics.com. I’ve stuck with roulette because it is a game I enjoy, but first and foremost I have found is the most beatable game. Not in all conditions, but overall I have found it to be the most profitable game. This article discusses not so much the actual methods that beat roulette, but more about the surrounding issues of professional roulette play.

Taxation and partnership profit splits

Do professional roulette players pay tax? This is a very common question, and my answer to the player is to first focus on beating roulette. Of course taxation Law varies between jurisdictions, and what is true for one jurisdiction may not be true for another. And keep in mind I’m not an accountant so I can’t give you financial advice.

However, I can give you information based on the legal advice I have received, and how I structure my revenue from roulette.

The Australian taxation office gives general guidelines as to whether or not income from gambling is a taxable. But they aren’t so black and white. At one stage, it was clearly not taxable. But more recently after a case involving a very successful gambler who won over $100 million, the Australian taxation office decided such an income is taxable. The current status is that gambling income is taxable if the income is part of a business venture. But if the winnings are the result of entertainment, or a more casual affair, then winnings are not considered taxable income.

For myself personally, Roulette is a large part of what I do and there is no denying that roulette is part of a business venture for me. So unfortunately I have no choice but to pay tax on winnings. I never disclose what I personally earn from roulette winnings, but first keep in mind that almost all my roulette income comes from partners who apply my roulette computers in jurisdictions where they are legal. Unfortunately this does not include where I live, and it is nit feasible for me to play myself for many reasons, so I need partners to play on my behalf.

Typically I will receive about 30% of the teams winnings. So say for example they won $50,000. My cut would be $15,000. And from that $15,000, about 40% goes to tax. This leaves me with about $9,000 after tax. So from a great win a $50,000, but receive about $9000. Simplifying this, I receive around 15% of the actual winnings.

This sounds great, but it isn’t repeatable with the same team members at the same casino, because the casino staff would notice. Most of the wins from professional roulette players in my teams are around $1000 per session. The limitation is almost entirely what the teams can win on a regular basis without being detected. And $1000 per session is small enough to avoid detection in almost any casino. If you have seen some of my public demonstrations of roulette computers, you would know that edges of over 100% are often achieved. And if it wasn’t for casino surveillance staff, it would be very easy for teams to win literally $100,000 in a day.

So be more realistic about the winnings for professional roulette players, they may earn $1000 each session, which I receive around $150. Now the figures aren’t so impressive, but at least each team can return frequently. You can be using the best professional roulette method imaginable, but the limiting factor is still the casino surveilance.

The vast majority of roulette players are only looking to subsidise their income. Perhaps they want to earn a few extra thousand dollars to pay a loan or just improve the quality of their life. This is very easily achievable, but it’s not what I’d call professional roulette play.

More to consider than professional roulette systems

You could spend your entire life try to develop an effective roulette system, and in the end you may find it is not the road effortless riches as you once thought. It is easy to earn small amounts of money, ranging from $20-$50,000 per year even playing part-time. But when you begin to earn more, you will find laws and regulations mean the tax man will take around half of it. But this is not just exclusively with roulette. Even if you have a typical high-paying job, you will find the more you earn, the more tax you pay, and the higher your bills, and you will be not much better off than someone else with a much lower wage.

If you are still chasing an elusive long-term winning roulette system, if you are looking to earn six figure incomes, consider the financial structure the government has in place which is designed to diminish the middle class.

Is this an article about professional roulette tips, or taxation? Actually neither. Most people look at roulette as a source of income, not specifically to become rich, but more to improve the quality of their life. But they do not realise that when they finally achieve their goal of beating roulette, that there are other obstacles to consider. The first and most obvious is casino surveillance. And if you still win a reasonable amount, you can’t earn too much without needing to pay an unreasonable amount of tax. So if you wish to play roulette professionally, I suggest first consider how much you wish to earn. If you intend to earn millions, then it will be hard work and you will need to very carefully follow procedures to avoid detection. And you will most likely need to travel and rotate the betting players. It is a lot more work than it may seem, and you will need to deal only with trustworthy players.

But if you are only looking to subsidise your income, and perhaps earn a few extra thousand every now and then, this is very easily achieved with the correct method. Ultimately I suggest before dedicating to any business venture, including playing roulette as a professional, first consider how you can reduce your dependence on money.