We’ve all placed a wager on a sporting event at some point in our lives. It might have been as simple as a bet with a buddy at a bar while watching a game. Maybe it wasn’t even a cash wager. Loser buys dinner, for instance.
Anyway, the fact of the matter is that just about everyone places a bet of some sort at some point in their lives. It’s just for fun, a way of passing the time, an opportunity to add a little intrigue and excitement to your sports viewing pleasure.
Bottom line – it was nothing more than a recreational pastime.
All Licenses Owned.
For some, however, betting on sports is a way of life, an occupational pursuit. Known in the gambling industry as sharps, these professional bettors are what’s classified in the wagering game as the smart money.
They’re playing for keeps, so they don’t mess around.
The thing is, if you’re thinking about betting on sports on a more serious level, you should pay attention to the approach that the sharps take, because this isn’t a recreation to them. It’s their way of life.
And just like any corporate CEO or small business owner, they’re not in business to lose money.
They run their operation the same way you run your operation and truth be told, that’s the only way to bet and succeed. You must approach the process like you would another other occupation. You need a sound business plan and you need to follow that blueprint in order to maintain a successful outfit.
These are just a few tips on how to run a betting operation like a business operation.
Find An Online Sportsbook
Before becoming a sports bettor, the first step is to open an online sports betting account. After all, you can’t start shopping without first entering a store where you’ll be able to make purchases.
All of these online sportsbooks will entice new players by dangling signup or welcome bonus offers. You absolutely want to capitalize on this opportunity. Think of it as gaining an investor in your new startup.
Check out MyBookie sports betting for one of the most lucrative signup bonus deals in the industry. This site will match the first deposit to your account up to a maximum of $1,000. So if you deposit $1,000, it instantly becomes $2,000.
You’ve just doubled your operating capital without making a single sale.
All Licenses Owned.
Manage Your Bankroll
Once you’ve got that wad in your account, you’ll need to be a smart money manager to ensure that cash flow remains solid and that revenues aren’t exceeded by expenditures.
Bettors do this through managing their bankroll. Professional players divide their pot of cash into what they term units. A unit is a chunk of that operating capital, usually five percent of the total amount.
When pros place a wager, they rarely risk more than one unit at a time. By following this method, a bad day at the office won’t wipe out the company.
Taking into account the $2000 we have in our hypothetical account, a five percent stake would be $10.
That means we should never play a wager larger than $10.
Maintain Discipline At All Times
If you ordered a supply of widgets and those widgets just aren’t selling, are you going to order more widgets? Of course not.
Likewise, you should never overextend yourself when betting on sports. Be patient. Do your homework. Select a bet or two that makes sense and play those wagers. If you win, great. If not, lick your wounds and start the process over again by following the same blueprint.
To succeed at betting, you must accept that you’ll frequently fail. Even the best bettors only win between 53.5 and 55 percent of their wagers. But that’s more than enough to garner a significant profit margin.
Bet What You Know
You’ve never played snooker. Why would you wager on it?
Writers write what they know. Bettors bet what they know.
If hockey’s your game, bet hockey. If you know rugby, excellent. Bet that sport.
The oddsmakers are experts at what they do. In order to have a chance to beat them, you’ll need at least an equal level of expertise.