WARNING- DOES NOT APPLY TO TOURNEYS IN NORFOLK!!
Sorry, couldn't resist!! That sucked for you!!
To address your question, you gotta do both.
Gambling gets you broke if you don't play well or have an inaccurate idea of your skill level. It also gets you used to keeping focused/ playing for longer periods of time.
Tournaments are good 'coz they force you to come with the good right now. You also get to play more people, of both better and worse skill.
I am approx 1hr away from Richmond too. Shoot me a pm if you want to try and get together for some...
-pigo