Is Sport Betting a Good Way to Make Money? Yes, but don’t skip this step!
The main focus of almost every Sports Bettor is money and the question is if betting is a realistic and good way to make money. The question is completely ok, because at the end of the day we all want results. And the result in sports betting is – money. Without this not sure how many people would bet. Every single bettor hope is a profit.
Learn About Money First, Bet Second
But the problem starts because we all want money quickly and if possible without effort. And this magical circle will never end and a the end people are broke.
When I started betting I quickly saw how important is the game of numbers in betting. I must say, that I loved math, statistics and when I was studying Water Science and Environmental Engineering, basically 80% of everything was based on statistics, excel and modeling.
I was lucky because of this and I soon understood the basic concepts of the betting value, the probabilities, ROI, yield,… and many other things that are important to even start thinking about winning in sports betting.
But I still couldn’t hold that money, because nobody taught me how money works, how to make money, and how to hold money. And I don’t blame anyone. The money simply disappeared and I didn’t know how. The school will not teach you how to manage your money. My parents didn’t know much about money either and I believe 90% of people have very bad money education. No one to blame.
But if the key result of betting is money, it would be crazy to skip this topic.
So, I started researching this topic, started reading the books, and practicing what is written in the books. Many people read, but if they don’t take action it is basically double loss for them (they lose time too).
And this was a game-changer for me.
Powerful Tips about Money that Helped me on my Sports Betting Journey
If you read this, you are probably here because want to improve your betting and of course because of the results (money).
And to win money in betting and what is even more important, to keep this money we must show respect and learn more about money. If you get the best sports betting picks from the best sports handicappers if you get the best formulas, betting models and you still don’t respect the money you will lose that money. Believe me.
If you have unrealistic and illusional expectations you have no chance to win at betting. And by winning I mean keeping that money.
I constantly hear this:
- I bet for 20 years, but I lose and I am still a small $5 bettor who has no money.
- I don’t have $1000, $5000, $10000 and I work my whole life
- I need money urgently
- I need betting to solve my financial problems
Aren’t these questions serious?
All other talks about picks, winners, locks, guaranteed picks, betting systems, elite bettors,… is completely useless if we struggle with money. Sports betting is a very bad way to solve your financial problems quickly. In almost every single case such thinking lead to more loss and disappointment.
I was in the same situation once, until I didn’t change the perspective and show some more respect to the money.
If you struggle with money, this can be solved. And your first steps into a better future can be solved quickly if you change mindset today and start making simple steps.
But don’t worry. I was in the same place and we are here to share experiences and I will share what worked for me. And it was a game-changer.
#1 UNDERSTANDING STEPS TO FINANCIAL FREEDOM
There are 3 important steps to FINANCIAL FREEDOM:
- FIRST STEP = Financial protection – the first goal, once you start working a regular job, should be creating protection budget money for the next 12 months of living (based on your lifestyle). With this, you have enough money for the next 12 months if you lose your job. How to calculate this? Simply write down all expenses for the next 3 months, take the average, and multiply by 12. This should be our first goal.
- SECOND STEP = Financial Security – the next step is to invest money and build income streams so these profits can at some point cover our monthly expenses.
- The THIRD STEP = Financial Freedom – This is the extra money and then you can do whatever you want – this is, of course, different from person to person what he wants. But this is where we start talking about financial freedom.
#2 ALWAYS PAY YOURSELF FIRST (min 10%)
We work whole life for others, for bills, for unnecessary expensive things, gambling, fun,… but we forget to pay ourselves first. No matter how low the salary is, the first thing everyone should do is to pay himself (save, invest) at least 10%. In the long run, this is a game-changer.
We never miss 10%. It is proven, that people always spend 10% on things they don’t need (alcohol, cigarettes, fun,…). If the goal is a big change in life, something must be eliminated and 10% must be saved/invested. In other words, pay yourself first. Period!
I highly recommend listening to this FREE Audiobook from Kiyosaki (Rich Dad, Poor Dad). This is a very good start for most people who didn’t get money education like me. This book helped me to understand how money works and motivated me to research more books about money and investing.
#3 RE-INVEST and GENERATE MORE INCOME STREAMS
I believe many of you dream about how to live solely from betting. But the whole dream/focus is wrong because the focus is only on one income stream. The average millionaire has at least 7 income streams. Warren Buffet for example more than 90 income streams.
Sports betting is definitely a great way to make money and everything that I have now I have because of sports betting. Back then when I still had a regular job, I couldn’t hold money. Money simply disappeared and I didn’t know how, when, and why. Once I realized how important is to pay yourself first and re-invest profits, everything has changed. I started re-investing part of my betting profits in other things.
Every successful and rich person re-invest his profits. Lebron James salary is pretty ok I believe :-) but he still doesn’t rely on only one income stream. He owns 19 Blaze Pizza franchises, a minority ownership stake in English soccer club Liverpool, production company SpringHill Entertainment and media brand Uninterrupted.
The same story is with all other rich people. They always look to generate more income streams.
Sports Betting as an Income Stream
Sports betting should be in the first place one (or more) income streams – not the only stream that is responsible for your existence and survival.
This recognition was a game-changer for me.
I bet without pressure now. I don’t care about a single bet pick. I just look at the whole picture and at the end of the season (or betting period) I decide what to do with the money – most of my profits are re-invested now.
I think that this topic is very very important and if you truly understand my message and you start practicing these ideas – your financial situation will be much much better in the next 5 years than you ever imagine.
Everything is possible. Just start. Nothing will come overnight, but tomorrow is always 2 days late. We must start investing time, money, and effort into the things that will make our future better.
If you look for sports picks or some “winning” betting systems, where you will not put any effort is like paying a prostitute. You will maybe have quick pleasure for the moment, but after one day you will be empty.
If you start strategically changing your betting, money, and lifestyle habits it is like finding true love for the rest of your life.
It is sad to see so many people struggling with money and looking to solve these problems with quick wins, quick picks in sports betting. I felt that this message is very important. This mindset and these steps were a game-changer for me. I hope they will be yours too.
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