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lots of people have done both. it is a very competitive industry.

You will need to go to Drama School at some point so I would suggest saving the money to go instead of spending it on this.

Ultimately you will need a good agent and lots of PROFESSIONAL experience (ie not am dram).
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Maybe, just maybe.
I don’t have a degree but I did a college course, twenty years ago.
Now I have a decent-sized company doing live work and making films.
Business is booming but I struggle to get actors to do a decent shift, despite paying the Equity rate for jobs.
Most actors are a pain in the erse and sometimes I employ people from the fringes of the business who have a cursory training.
Sometimes they are our best performers.
A good attitude will serve you better than a piece of paper and a belief you should be a star.
Most young actors do not want to do anything other than high-profile work and consequently we rarely employ anyone under thirty.
A lot of actors of all ages simply do not want to work at all and would rather sit in the pub whingeing about the lack of funding in the arts.
We try new people all the time, twenty or so this year.
I would re-employ just one and he has no training at all.
I started by forming a small fringe theatre company with no funding and we did two-handers and got to keep the door money.
I DO have an agent but he gets me NOTHING, in keeping with most of his clients.
I use him to negotiate contracts on jobs I get through my own efforts.
TV and theatre are not exactly booming but other areas are.
you do not need Equity membership to work but it would be better if you did join.
It gives you someone in your corner if anything goes wrong and they will advise you in all areas of the business from arts funding (ha!) to training courses.
Trained or untrained, it’s a tough business and I’m not a soft touch.
We turn down all kinds of things where TV companies to events organisations want us to work for a pittance.
Some of this is mainstream TV work.
So you’ve been warned.
In short, I reckon you CAN do well enough in the business with no training, agent or Equity card.
Good luck!

Update: Look at the answer after this.
You get some right nutters here and someone has even given me a thumbs-down!
Look – I’m a working actor, fifty years old and I know the business.
I’ve just come home from a show in Edinburgh, I’m knackered and I’ve a Victorian piece to do in a stately home tomorrow.
Idiots who come here and write about agents and doing extra work know NOTHING about the business.
If you sign-up for The Stage’s forum, you will get better advice from actors, not lunatics who think they know how it is.
http://www.thestage.co.uk
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I’ll give you a HUGE freakin’ Hells yes take them there classes!
It’s training and that’s what an actor needs. You’ll need a lot more of course but it’s something. Do as much as you can. I never came away from a class without something. And a degree in acting qualifies you to be chronically unemployed. Get a degree in something else. Bring what you learn there to your acting studies. And use that to get an adult job so you can act for the rest of your life whether you make a living at it or not. Take the classes, take the classes, take the classes.
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