The state of professional gambling with Michael Shackleford

Meet Michael Shackleford, known as The Wizard of Odds for founding the infamous gambling information site. This interview he covers whether professional gambling is still alive in well.

How did you stumble into the world of gambling?

I’ve always been interested in gambling. As soon as I understood the concept of a bet, I tried to hustle my friends any way I could think of. For example, when I was a kid, we had a basketball hoop on our house, at the end of the driveway. I’d bet any kid, including the hot-shot athletic ones, at even money that they couldn’t make a free throw. I knew full well none of them could shoot 50%. However, they always fell for it. I usually kept the bets friendly, like a dime or quarter. For me, it wasn’t about the money, but having the advantage.

This would later evolve to dealing blackjack and acey-deucy in high school and college. Easiest money I ever made. I just smiled as my friends doubled on 12 and split almost anything.

You launched The Wizard of Odds in 1997, was this purely a hobby site or did it have a business purpose?

It was purely a hobby site (Wizard of Odds). I also had hobby sites devoted to math, baby names and myself, but it was the gambling site, initially called “Mike’s Gambling Page” that took off.

Did the site only attract professional gamblers or would you say it attracted the full spectrum of players wanting to learn as much as they could with gambling?

It attracted the full spectrum. To this day, I think my widest audience is smart gamblers who are looking to play as well as possible, but not necessarily with an advantage. Another significant portion of my following are in casino management, looking to understand their games better.

Is it still possible to have a career as a professional gambler today or all the good ole days long gone?

It’s definitely still possible and I think always will be. However, the angles keep changing. Card counting and video poker are mostly out. Internet bonuses are tougher than the early days, but still offer plenty of opportunity. The latest area in advantage play is surprisingly slot machines, especially those where players vest into a bonus round. Depending on the state the last player left the machine, a game could have a return of well over 100%. The third edition of my book Gambling 102, due out soon, will cover several such games.

Outside of casino games, what other gambling verticals do you enjoy whether poker, lottery, bingo or betting on sports?

I like betting on sports, especially exotic and proposition bets. I’ve been known to analyze them very deeply. I also play bingo when I perceive an advantage, although I haven’t been as active with that lately.

In your 25+ years of working and building your gambling site, what have you noticed about the industry over these years?

Rules have obviously become worse. There is also a steady move away from live dealer games to any kind of machine. Comps have become stingier. The business has become less friendly and more corporate. The perfect example is paid parking on the Las Vegas Strip.

What do you envision the future of online gambling in the next 5 years?

More consolidation. It’s no longer a small man’s game. I would still like to do my own Internet casino, that would offer the best odds on the planet, but I simply don’t have the budget. In the U.S, I expect more legalization and the big land-casino operators to fill that void quickly. Bonuses will get stingier, except in new markets that will temporarily be generous to seize market share.

Thank you for the interview!