It is everyone’s dream to not have to punch a clock; or to not have a boss to answer to.
Well, I am here to tell all of you daydreamers that professional gambling is actually a very hard way to make an easy living. In fact, approximately 98 percent of all people who try will fail. Below are 10 rules to look at and burn in your brain, if you want to attempt to be successful.
Rule No. 1: Do a monthly, honest evaluation of yourself and write out your bad habits.. Ask yourself if you truly do have the required discipline to handle all the swings involved in sports betting. Most don’t.
Rule No. 2: Always have an allotted bankroll for sports betting. This is to be used to build with and not touched for anything else.
Rule No. 3: Never bet more than two percent of your bankroll on any one event. As an example, if you have a $10,000 bankroll, your biggest wager should be $200. Your bet amount will increase as your bankroll grows. However, $10k is not enough to start with if you want to make a living at this.
Rule No. 4: Every bet that you make should have an edge. This can usually be determined by comparing your line with the closing line at the sharper sports books.
Rule No. 5: Never overbet or chase losses… This is probably the No. 1 reason why most do not succeed in trying to be a professional gambler.
Rule No. 6: You have to understand that nasty losing streaks can and will occur at any point in time. I went through this the first few months of baseball but never lost my cool.
Rule No. 7: It is best to not watch the games you bet on. This will keep your emotions in check. Getting too excited or too upset can lead to irrational behavior. After making my bets and charting them on a spreadsheet, I do not check the results until the end of the night.
Rule No. 8: Always “line shop” to get best available line. You cannot call yourself a professional if you do not “line shop” and have many outlets for your bets.
Rule No. 9: Research quality websites, such as Gamingtoday.com to see what other handicappers and sports betting journalists are talking about. You can never have enough good information.
Rule No. 10: Surround yourself with other successful gamblers and take mental notes. Not only what they do; it is also equally important what they do not do To this day, I continue to check in with my mentor from time-to-time (even though he is retired) for advice and to ask questions.
This week’s college football picks: UNLV/New Mexico OV 62.5; Middle Tennessee State.+6.5; Texas State +3.
Last week: 0-3