I’m going to let you in on a secret: Making money as a sports handicapper is not that difficult. In fact, it can be downright easy if you follow the right rules. Here are 10 things that I have found over the years that make all the difference when it comes to being successful at making money betting on sports games (and no, none of these tips involve winning lotteries or hitting big jackpots).
You need to know what you’re doing
You need to know what you're doing. And by that, I mean you need to know your sport, it's teams and players, the stats and trends associated with the team and its players, how sports betting software such as Sports Insights works and how it can be used to make smarter picks.
You also need to know what other handicappers are doing so that when they make a mistake on their selection(s), you can capitalize on that mistake by being more accurate than them with your pick(s).
You have to stay disciplined
You do not need to be a professional to stay disciplined. If you have followed a system that works, you will be able to bet on every game and still be profitable. Here are some things that must be avoided when gambling on sports:
Betting on games you don't know much about. This can lead to overconfidence in your ability as an analyst and can cause many problems later down the road;
Betting on games where the odds are too high or low for your liking;
Betting on games that have little or no interest for you; and last but not least,
Always staying within your limits by only betting what is required for each specific wager."
You have to be selective and not bet on every game
You have to be selective and not bet on every game. In order to avoid betting too many games, you should only bet on certain teams. You should also avoid betting on just the favorites or the underdogs.
You should also avoid betting on every team in a particular sport or league because you can't possibly win all those bets; there's no way that you'll get all of them right. If you're going to bet on sports then make sure it's only certain leagues or divisions that interest you; otherwise, don't bother!
You have to be willing to change your mind
You are going to be wrong sometimes. You need to be willing to change your mind.
You might learn something new, or get a better idea, or maybe the odds change and now you can make money on the game after all. All of those things are fine and good; they mean you are open-minded enough to admit that there is more than one way of doing things.
Always back up your analysis with facts
The most important part of sports handicapping is knowing the facts. You have to understand which players are going to be playing on a given night, and whether those players play well when they are in certain situations. If you don't know the facts, ask someone who does. If you don't know the facts and no one else around you does either, look them up yourself!
There's nothing worse than finding out later that there was something significant about an athlete or team that would've changed your opinion on an upcoming game—and it's even worse if it happens after placing a bet! In short: always do your homework before making any wagers on sports events—it'll save both time and money down the road.
Learn from your mistakes and don’t beat yourself up about it. No one is perfect
It's important to learn from your mistakes and not beat yourself up about it. No one is perfect and no one will win every bet they make. Most of the time, sports betting is a fun activity that can be profitable if done right. You should never let the possibility of losing money get in the way of enjoying sports betting or handicapping.
The best way to deal with losing money on bets is not to think about it too much afterwards. This can help keep your head clear when making future bets as well; if you focus too much on whether or not you're going to lose money, then it could affect your judgment when placing wagers in the future because you'll be worried about losing more money (which causes stress).
Don’t get emotionally involved in the outcome of the game or in a bet that you made
When it comes to sports betting, it is critical not to get emotionally involved in the outcome of the game or in a bet that you made. This can be more difficult than it sounds, but if you follow some basic rules and keep your emotions under control, you will have a much better chance at being successful as a handicapper.
First off, don’t bet more than you are willing and able to lose. As mentioned earlier, there is no such thing as a sure thing when it comes to Vegas odds and never assume that just because someone else has won on one team in the past means that they will win again tomorrow night. You need to make sure that whatever amount of money you decide on placing into your sports handicapping business accounts is something that can be easily replaced if things don’t go according to plan (i.e., if one team loses).
Betting is all about probabilities, not guarantees. Don’t let anyone tell you they can guarantee profits
As a sports handicapping business owner, you'll often be approached by people who want to buy your picks. If someone tells you that they can guarantee profits, it's time to walk away from the conversation. Betting is all about probabilities and risk management—it's not about certainties.
Don’t chase losing bets. That is when you start making bad decisions in order to try to win back all that money you lost betting on yet another losing team. If you lose 3 games in a row, take a break, find out what you did wrong and wait until next week before placing any more bets.
Don’t bet when angry, stressed or under the weather. We all have bad days but if you are in a bad mood and place bets on games that are too close to call, then it is best to wait until another day. The same applies if you are feeling ill. You need to be mentally sound when handicapping sports games because it involves making educated decisions based on statistics and past performance data of teams and players involved in the game being played that day.
If you don't have time for every single game being played during the week, then make sure to check out our top picks for each day so we can help point out some great plays for each night's action!
Don’t bet more than you can afford to lose. This might sound simple but it’s an easy rule to forget when your emotions (and excitement) are running high
Don't bet more than you can afford to lose. This might sound simple but it's an easy rule to forget when your emotions (and excitement) are running high. If a game is too close to call, stay away. The line may be right now, but a 1-point favorite could easily turn into a dog by kickoff time or vice versa. If a line looks too big for the teams involved, do not bet on it until further information comes out about injuries or other factors that could affect how each team performs on the field or court.
If you want to make money as a sports handicapper, follow these rules
Follow the rules.
Don't get emotionally involved. If you're winning, don't get confident and start betting more than usual; if you're losing, don't panic and bet more than usual just to try to break even.
Don't chase losses by betting more money on bets that have already lost; this is known as being "on tilt" and it can cost you far more money than simply accepting the loss would have done (and who knows? Maybe your original bet was actually wrong).
So, if you’re looking to start a successful sports handicapping business, look no further. We have all the tips and tricks that will help turn your hobby into a money-making venture. Just remember that this isn’t something that happens overnight. It takes time and patience to build up your reputation as an expert in your chosen sport or sports league, but once you do there will be no stopping you!