Have a Plan of ActionOnce you commit to sports betting over time, you have to commit to knowing your business inside and out. Instead of placing bets all over the sports spectrum, make yourself an expert in a handful of leagues. Examples might be focusing on the National Football League, the National Basketball Association and Major League Baseball, to give yourself the chance to bet all the way through the calendar. If you spread too thin, you won’t have time to do the research that you need to bring in profits.
Build up your Savings FirstBefore you start betting, make sure that you have the funds that you need to cover it. This isn’t money that you should be counting on to pay your bills, or even for your retirement. The money that you are using for betting should be extra money that you have set aside. This will keep you from panicking with your bets – and will keep you from risking the security of yourself and your family. Gambling is a hobby that can become a profession if you develop enough skill. However, before you take that step, you should have at least six months’ living expenses in savings – set aside from your gambling money.