Building your tax free income stream through sports investing profits is, in all honesty, quite hard work.
Now if I have frightened off the majority of “gamblers” who donate money to bookmakers the world over…good. But for those still with us – the best part is – once you are up and running, it’s possible to capture profits that easily crush returns you would get from a mutual fund or even the vast majority of hedge funds.
All without the use of leverage, working from an approach you engineered yourself.
So let’s dive into the 6 Secrets to Creating an Insanely Profitable Sports Investing System.
So few gamblers have it, but it’s what enables investors like us the ability to lie in the shadows and take advantage.
There is nothing magic in it’s application, but a patient outlook (particularly after a loss) cannot be overemphasised. It’s also so rare, with many gamblers chasing losses, increasing bets to ridiculous percentage levels of their “bank” (if they even have a dedicated investing bank), and donating their entire funds.
Is this you?
Your time frame for investing is 3-monthly quarters and most importantly years. Not days, or single bets. Not one Monday night football game. Not one superbowl. Not one Yankees game.
You must be in the business of operating on a longer timeframes so you are able to perform important tasks like – evaluate your methodology, allocate your capital appropriately and ultimately; honestly assess your annual performance as an investor.
With patience – and its cousin discipline, you are well on the way to successful profits. If you are investing long enough to allow for harmful “variance” (ie “bad runs”) to interact with your beneficial variance (ie “hot streaks”), your investment profile will be smoother and more representative of your true edge (or lack of one).
Translated – you need to stretch your investment capital over a year at least, to better gauge your performance.
[see other articles written on Bankroll for more information on this mega-important topic.]
2. Keep good records
Another rare ingredient that will make or break you as an investor, in all walks of life.
Stock traders are encouraged to keep an investment diary. I guess few do. The same goes for Sports Investing.
Accurate records are the only way to truly assess your performance and therefore improve. Are you repeating the same patterns that lead to losses? Are you getting behind the value teams or are you betting too many favourites? Do you tend to follow “hot” teams too much? You’ll be amazed the power of insight your own records yield.
It also allows you to spot trends and numbers that you can exploit to get to the magic 52.38% break even point (assuming laying 11 to win 10 [-110 in US prices or 1.91decimal]). These will also become self evident once you have good record keeping habits established.
3. Be Selective
Only bet when you have an edge. Seems logical, but is a standard poorly adhered to for the most part.
It’s not selective if you must find a bet every day. It’s not selective to bet “your team” every week. It’s not selective if you need to bet for the “action” on a Sunday during MLB season.
Being selective means attacking opportunities from strong ground. Games where you believe you have found an edge – be it in statistics, price, match-ups, power ratings – however you are analysing your events. These are the wagering events you need to isolate and invest in.
Long story short – don’t look for a position on a game where there isn’t one. Often, the price is right.
4. Monitor markets
Some investors construct an entire approach around monitoring price movements and gaining an edge in that way.
For many of you though, you’ll just want the best price available. Hopefully you are able to wager online and can easily shop for the best number. Many odds comparison services are available for you to use.
You’ll also want to know if an opportunity that isn’t there now, may be in an hours time if a point spread moves from +2.5 to +4.5. These will reveal themselves as you monitor the markets.
Over time your wagering will become much sharper as you develop “feel” for the markets, leading you to anticipate times that sharp punters are about to strike, and as they do, so can you.
5. Watch a lot of sport
Not too difficult!
It definitely helps you to spot “false” favourites, and find attractive numbers to bet into. It’s really only by watching games that you can get a sense for teams that are on a upswing, are peaking, plateauing or declining.
If possible, don’t forget to attend a couple of games as well. This is crucial in allowing you to stay connected to the actual sport as it is played – and gives you a real-world reference for anything you may see on TV telecasts, or read about. These are real humans competing. Get to a game every now and then.
6. Read. Read. Read
Read news coverage, team websites, stay on top of injuries and any and all other developments that can possibly affect a game’s outcome. Look for any snippet that might offer crucial information that you feel is going to result in a team performing slightly better (or worse) than is indicated by a bookmakers posted number.
Combining 5 & 6 above should be enjoyable if you are to be successful. Quite a bit of work goes into making a regular profits investing in sports, and I can tell you the team I associate with works insanely hard to achieve our success. It only makes sense that you should enjoy the activity for this reason.
All the best in your sports adventures.
See you around the markets.
Dr. Sport. – aka – Sam J. Perry