- : Several states officially bar all gambling, including pools on which the organizer does not profit. Know you local laws before organizing a gambling pool.
- Step 1: Pace yourself Pace yourself and don't expect to strike it rich with a single bet. Earn your cash slowly over several bets each week or over longer periods of time.
- Step 2: Develop a niche Develop a niche for a specific sports team or conference so you don't spend all of your free time researching every team, game, and player.
- TIP: Use a handicap service like a stockbroker, to get a snapshot of each match-up.
- Step 3: Manage your money Manage your money carefully by not betting more than you can lose. If you wipe out your bankroll on one game, you'll always be behind.
- Step 4: Bet on the underdog Bet on the underdog at home. You can often clean up, or at least cover the difference in points between both teams, which is called the "spread."
- Step 5: Time the bets Bet as late as possible when going with the underdog at home, or as early as possible when going with the favorite, to get the best odds for both.
- Step 6: Follow the big money Talk to someone on the inside so you can follow where the big bets are being placed. Chances are, they know something no one else does.
- Step 7: Never bet more than you can afford Never bet more than you can afford to lose. Set limits for yourself and stick to them. Casual sports betting can lead to an addiction.
- FACT: As of 2010, the only states that allowed sports gambling were Delaware, Montana, Oregon, and Nevada.
You Will Need
- Money management skills
- Reliable information
- Handicap service (optional)