The Super Bowl is one of the greatest sporting events of the year. Every February, the biggest games are broadcast live from the stadium and millions of viewers around the world tune in to witness the amazing plays and spectacular finishes that make up this iconic event.
If you’re a football fan, you’ll have watched in awe as scores of players have fought for the ball during the coin toss, watched the commercials after the game, and cheered for your favorite team as they took the field for one last drive.
Now that you’re a professional sports bettor, you want to test your skills on the world’s biggest sporting event. The question is, how can you put your knowledge to practice and make a living off football during the month of February?
Let’s have a look at how you can put your awesome football knowledge to use and make a living off the game during the month of February.
Step one: Set your price range and betting limits
As a sports bettor, you’ll no doubt be aware of the range of betting odds that are available for major sporting events. One team may be a significant underdog on the day of the game, while the other is a heavy favorite. Unless you’re confident that one of the two teams is going to lose, it’s usually a good idea to avoid placing aggressive bets on games that span two or more years.
That way you’ll keep the excitement levels high and protect your assets. Before making any kind of wagers you need to set your price range and the maximum amount of money you’re willing to risk. It’s important to note here that even if you’re sitting on thousands of dollars, you should still keep within your betting limits. The idea here is to have fun, not to make a fortune, although it’s always a nice bonus!
If you’re completely new to betting, setting limit strategies and knowing when to stop are essential. Once you’ve gained some experience, you’ll find it easy to move away from those limits and go for bigger bets. For now, stick to what you know and what you feel comfortable with.
Step two: Study the teams and the players
It’s important to know the difference between the various types of bets you can make, and knowing which one to go for is all about knowing the odds. Some bets are fixed, meaning the bettor knows which team will win before the game starts. Other bets are based on the score of the game, while others are based on the performance of individual players. Every sports bettor must learn to be familiar with all types of bets, their advantages and disadvantages.
For example, if you know that Joe Team is heavily favored in their upcoming game against Charlie Team, but you also know that they’ve lost all of their previous games against Charlie Team by a large margin, you might decide to bet on the underdogs. Alternatively, if you believe that this season’s New York Jets will outscore the Buffalo Bills, you might want to bet on that side of the game. Knowing when to bet which way is all about understanding the different types of bets, their advantages and disadvantages, and which teams are likely to produce the best returns.
Once you know all of that, you’re ready to move on to the next step.
Step three: Make your picks
The beauty of sports betting is that you don’t necessarily need to choose one team and avoid the others. You can go for a mix of the favorites and the underdogs and if you’re right, you’ll win a little money while still keeping people interested in your betting activities.
Make sure you’re not breaking the law by checking with your jurisdiction’s gambling authority before making any kind of wager. Also, make sure you’re aware of all the different forms of payouts there are available, as well as the tax implications of these bets. If you’re getting paid in cash, you’ll need to report this income to the IRS. You have to be careful about reporting your winnings as income, especially if you’re doing this legally. There’s a chance that the IRS may audit you.
As a rule of thumb, you usually want to avoid betting on teams you’ve never heard of or against players that are unlikely to show up. These kinds of bets usually have extremely high house edges, making them worse than betting on sure things. For the best chance of winning, go for players you’re familiar with and teams you’ve seen in action before. Familiarity breeds confidence, which leads to better choices and higher wins.
Step four: Monitor your results and make adjustments
The important thing to keep in mind here is that no matter what, in the long term, sports betting is a losing game. You’ll never beat the house. The key to becoming a successful sports bettor is in learning how to win, adjusting your strategies when you do lose, and not getting discouraged by those losses. Many beginners get discouraged after losing their first few bets, but this should never be the case. Instead, learn to move on and make different choices the next time around. This will help you become more accurate and, over time, begin winning.
You’ll find it easy to get sidetracked by the highs and lows of betting, especially if you’re a fan of a team you’re betting on. It’s important to stay focused on the task at hand and not be affected by the fortunes of your favorite team. If the losses keep piling up and you start to question whether or not you’ll ever be able to earn a living off football, it might be time to take a step back and re-evaluate your approach. After all, this is supposed to be a fun and profitable activity, not a full-time job!
If you’re looking to start a sports betting career, whether it be in NFL, NBA, or any other sport, make sure to add our blog to your reading list. Over the last year, we’ve published a lot of useful information about all aspects of betting, including how to make a living off football. We hope that you find this information useful and that it helps you in your quest to become a successful sports bettor.