Student or Learner
The following in red is confusing. Please explain what it is saying.
But now he takes in half a million dollars a year or ten thousand dollars a week out of the game of contract bridge. However, that's not all profit by a long shot. He spends thirty thousand dollars a year in merely answering the countless questions .....
I assume you know what profit is? He has expenditures (the money spent "answering questions") which partially offset his gross income.
by a long shot - definition of by a long shot by the Free Online Dictionary, Thesaurus and Encyclopedia.
The rest is an idiom. A "long shot" is a bet with very slim chances of winning. The meaning here is that if you would bet that all of his winnings are pure profit, it would be a very long shot bet that you would lose. You would not be even close to being correct.