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The Professional Gambler: Fame, Fortune, and Failure

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  • DAVID M. HAYANO

Abstract

In its lengthy history, gambling has attracted amateur gamesmen, cheaters, charlatans, and professional gamblers. But only within the last fifty years has the entire social organization of gambling changed radically, due to the growing availability of legal casinos and card rooms. One result has been the creation of an entirely new breed of professional gambler, with four distinct subtypes: the worker-professional, the outside-supported professional, the subsistence professional, and the career professional. The majority of these gamblers eventually succumb to the interminable pressures of full-time gambling and encounter some degree of devastating social and financial failure. Only a minority find relatively lasting fame and fortune. The legitimation of recreational gambling is currently in an era of florescence, aided by the promotion of casino gambling as a kind of leisurely activity, the attention of the national media and gambling publications, and the organization of high-stakes, international tournament play. All of these conditions have helped professional gamblers pursue their specialized art with much more publicity, safety, and potentially greater rewards than ever before.

Suggested Citation

  • David M. Hayano, 1984. "The Professional Gambler: Fame, Fortune, and Failure," The ANNALS of the American Academy of Political and Social Science, , vol. 474(1), pages 157-167, July.
    • Handle: RePEc:sae:anname:v:474:y:1984:i:1:p:157-167
    DOI: 10.1177/0002716284474001014
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    Cited by:

    1. Arif Yüce & Sevda Gökce Yüce & Hakan Katırcı & Volkan Aydoğdu & Weisheng Chiu & Mark D. Griffiths, 2023. "The Effect of the COVID-19 Pandemic on Sports Betting Tipsters as Professional Bettors: A Qualitative Interview Study," Sustainability, MDPI, vol. 15(9), pages 1-19, May.

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