I feel that the most important thing is where you are in your life. Do you have a mortgage, do you have children, do you have a car payment, etc etc. If you need $3k a month to pay your bills just to survive then maybe being a professional gambler isn't the best career choice.

Also, you have to treat anything that is your sole income as a full time job. If you are a professional gambler, it might mean that you only play a couple of races a week or it could mean an entire day wagering. It requires dedication, continuing education, in depth analysis and extreme patience.

I also feel that you need to set a weekly financial goal. Wether it is $500 or $2000 a week. Then one has to pick the races for that week that gives you the best chance of winning your weekly goal. Maybe it is a simple bet like an exacta box or just playing to win. An aquintance of mine is a professional horse player. He has zero debt and no one that relies on him for anything. He plays only exactas. He searches for exactas that pays $18 or higher. Then he will play a $200 exacta box. The cost of his ticket is $400 and if he hits then his gross payout is $1800.00. His net would be $1400.00. He has done just OK. Nothing really to brag about but he does it for 10 hours a day, 7 days a week.