If you’ve come this far than you know the old saying in the sports business, “the house always wins”. This is not just a worn out cliche’, but a stone cold reality. The sports business along with the pyramids at the MGM Grand were not built on winners. The key is to be patient and keep the players at their tables. Obviously, there is always going to be a winner and a loser. The key to long-term earnings in the sports business, whether for small money and fun, or as a serious sports investor, is to find edges. Grind them out, win a solid percentage, manage your money properly and bet with a level head. There are two types of sports bettors. Most are recreational gamblers. These are people who enjoy sports, like to watch the games and would like to be more involved with a rooting interest, by betting on either team to win or cover the spread and to bet on OVER or UNDER the listed point total.
There are obvious pitfalls to the recreational player that will show up in the long-term figures. Obvious exceptions exist of course. There are people who do not wager on games all year, then show up to fire on Bowl Season. For example; a Boston-based successful doctor decided to fire big on New England on Super Sunday. His bet did not look so hot when Seattle had the ball up by 10 points in the 4th quarter. Things also looked bleak for him when the Seahawks had the ball at the Patriot 1-yard line with the clock ticking inside of 30 seconds and New England coach Bill Belichick unwisely keeping his two timeouts in his pocket.
Sports Business… Are you in?
Of course, we all know what happened next. Seattle quarterback Russell Wilson tried to his receiver on a pick-play slant over the middle, and rookie New England defensive back Darius Butler made the game-saving interception. All teasers cover; New England bettors win. The only swing for me (as evidenced by our reports during Super Bowl week) on that play was a Russell Wilson prop, where I had bet on him NOT to throw an interception in the game.
The point of all that is that anything can happen in the world of sports, and especially in the sports business wagering world, where point spreads come into play with alarming frequency. The Rex Factor takes pride in educating a smarter breed of American sports punters. As we said going in, there’s very little edge in the Super Bowl.
And most importantly, keep your emotions out of it. The sports business is indeed a business, so don’t let an exhilarating win or a devastating loss affect how you approach your next wager. If things aren’t going so well in your personal or professional life, then consider taking a break from sports betting (or all gambling in general) until those things are rectified. That’s easier said than done, especially with novice bettors, but not impossible.
And remember, just because it’s not football season, doesn’t mean it’s the “offseason,” either. There’s plenty of money to be made from now until the Hall of Fame game. For more details read, “How to be a bookie” and welcome to the sports business rookie!