There are many people who do magic as a profession. They may not be as good as Dan and Dave or Houdini, but they make enough money to live a nice middle class life. However, in order for this to work you must devote a lot of your time on tweeking your tricks and perfecting them to make them as amazing as possible.
It will be tough but if it's what you want then go for it. You most likely won't end up as famous as Cardini or Mark Wilson or Dai Vernon but you never know until you try.
Have fun,
Dylan P.
I think you're right on the money Dylan. People seem to confuse "making a living" with "making millions". I currently work 8 hours a day, 5 days a week in sales, alongside doing some writing for a magic magazine and taking the odd magic gig. At my current rate of payment, I would only need to regularly be doing two magic gigs a week to bring in the money I'm currently making in my day job.
This calculation has meant that I'm now hoping to go pro within the next few months. I won't be a millionaire, but I'll be just as well off as I was before, while doing something I love.