Every single day we receive phone calls from potential clients who ask the same questions over and over again: “Can I really make money betting on sports?” is one of the more common ones.
Our stock answer to that question is “Yes but with one stipulation.” I’m sure you can guess what the next question usually is.
You need to be disciplined and have a long term plan in place. Much like investing in the stock market, making an income via sports betting requires a long term vision and disciplined approach. By taking the long view instead of worrying about a game-by-game approach one can improve their sports betting results dramatically.
There are three simple steps to keep in mind when looking for improved results and a sustainable long term income derived solely from sports betting.
Step One is always to establish a bankroll for sports betting purposes. Just as you would set aside a certain amount for investing in the stock market, you need to figure out how much money you are able to devote to sports betting. It definitely helps to have the mindset that you’re investing and not gambling with your sports betting bankroll.
The size of your bankroll will vary from person to person and is dependent upon certain factors.
The first factor to consider is how long you plan to continue investing. A weekend, a month, a season? Obviously, the longer you plan on investing, the bigger the bankroll you’ll need.
Secondly, consider only using money that you can “afford” to lose as your bankroll. Only set aside those funds that will allow you to make a profit will avoiding putting all of your monthly expenses at risk. The goal isn’t a quick fix, it is a long term investment strategy so don’t put yourself at risk needlessly.
And lastly, what is the amount that you are comfortable betting per game? Is it $50 per game? $100? $1,000? Only you can determine your comfort level. We strongly suggest that your bankroll be big enough to allow for 20+ bets of a specific amount. For example, if you’re going to bet $50 per game, you’re going to preferably have a bankroll of $1,000.00 + to start out with. Take into consideration you’ll need to account for the “vig” too which is where the “plus” come in – you’ll need to plan for more than just a round figure of $1,000.00.
Step Two is to begin understanding who you are as a sports bettor and developing your own bettors profile. Each and every sports investor has a unique profile that mirrors their own personality for the most part. Are you more comfortable betting the favorites every football weekend? Chances are you personality type is suited to less risk and more secure, safe choices. Do you find yourself taking the points and betting on the underdog? You’re probably a little more accepting of the riskier bet.
Figure out what your tolerances are as far as risk and play to that consistently. Either way, a consistent approach is more likely to lead to long term success.
Some of the online platform like totobet hk provides the rules of the game in various language. Players have the freedom to select the language in which they are comfortable. This level of the comfort will increase the willingness of the players to play the game.
Finally, Step Three is finding a system that plays to both your bankroll and personal profile and then sticking with that system through thick and thin. Again, consistency is the key. Study the trends, stick with what works over the long haul.
Not everyone has the time or the inclination to develop a reliable sports investment strategy. A lot of the clients that come to Elliot Stern International simply want us to do the work for them. Most people who wager on sports don’t have the time to research the statistics, trends, line movements, situational trends, team trends, game analysis and other important factors that go into being a successful sports investor. Here at Elliot Stern International our mission is to provide you with consistent returns just as you would see by investing your money with a good stockbroker or from a mutual fund. We have the knowledge and information that allows our clients to obtain the highest return from each sports investment they make.Read More