http://en.wikipedia.org/wiki/Chess_title

• Grandmaster (shortened as GM, sometimes International Grandmaster or IGM is used) is awarded to world-class chess masters. Apart from World Champion, Grandmaster is the highest title a chess player can attain. Before FIDE will confer the title on a player, the player must have an Elo chess rating (see below) of at least 2500 at one time and three favorable results (called norms) in tournaments involving other Grandmasters, including some from countries other than the applicant's. There are also other milestones a player can achieve to attain the title, such as winning the World Junior Championship.
• International Master (shortened as IM). The conditions are similar to GM, but less demanding. The minimum rating for the IM title is 2400.
• FIDE Master (shortened as FM). The usual way for a player to qualify for the FIDE Master title is by achieving a FIDE Rating of 2300 or more.
• Candidate Master (shortened as CM). Similar to FM, but with a FIDE Rating of at least 2200.

It is impossible for a GM to be at 2200. The rating floors keep a GM at least at a 2300. The rating floors are 199 points below the closest 100 mark.

Well, there must be some flaws on the scheme that's been created.  Why not make it a series of winning numbers where one player has a certain number.  The one with the right choice of series wins. Make it like a lotto. From one dollar bet you get something but the series of winning number should be inorder for you to win. Perhaps there must be way to make it exciting and draw a lot of awareness to a lot of public. Players must also be isolated during competition to disallow fixers. Perhaps what is more exciting especially in your area where you know what works most. Innovative but simple schemes can draw a lot of crowd.

where did you see the GM exactly?

In USCF play it is quite possible for a grandmaster to get down almost to the 2200 level.  Players past their prime this happens to.

I am curious, all it takes to be a FIDE Master is to achieve a rating of 2300 or more?  [I assume that is a permanent rating]

Bisguier is at his 2200 USCF floor.

Yup. Former US champ and very talented.

Reshevsky, on the other hand, retained his strength very well. Probably 300 points stronger at 80.

If betting is allowed, there would be game fixing. It's much easier to fix chess games when the parties involved is only 2 person. Even without betting, there is already allegations of pre-arranged games as Fischer accused. 

I slightly knew the late, Ken Smith, of Smith Morra Gambit fame and even played him in the preliminary round of the very first United States Corespondence Chess Championship.  He was quite a character.

He also played high stakes poker and one time won $100,000 in a tournament. [that was big money at the time]  He more or less made a living from chess and poker.

I knew the late Hugh Myers better. He used to live in Decatur Illinois and we would play many games of chess.  Hugh declared right out of college that he wanted to the a professional chess player. He wrote some books and had small magazine devoted to his unusual openings but he also first worked for Social Security and later he was living off his chess which meant, in truth, he was very poor.

Both of these guys were "characters" and both were of the master level but not near the grandmaster level.  RIP

Beyond the top couple dozen in the world, it's tough to earn a good living playing chess. 

Some players do all right with books and videos and touring and lessons, but that has more to do with other skills than just chess ability.

It is definitely not the sort of vocation you can plan on having a career in.

I like this topic.  Chess as a mass market spectator sport is a hard sell because your ave person can't grasp a lot of what is happening.  For the most part, most other popular sports are simple to grasp; put something, ball, puck, etc.; somewhere, goal, basket, hole.  With these types of sports, people can see progress being made.

Chess is a slow process and not convenient for the ave attention span, but I would love to see someone come along and be the rockstar of chess to bring it more exposure.  

chess games go slowly so they usually don't have much excitement. That is why it isn't as popular.

i would think that if chess' popularity level went up, people would more likely be able to making a living out it.

?

Chess needs someone to appeal to the masses. Just like how Tiger Woods made golf fun to watch and got a whole slew of people to follow that sport. Chess needs someone to capture the "non" chess players imagination and pull them into the sport. Also if there was a media outlet that televised the games then that would be a huge breakthru. 

If this game can be marketed the right way as mentioned above. Then you will have a chance of not only the super GM's making a living off of chess, but the other titled players as well. It's the trickle down effect. 

But would a media outlet most likely do chess games.