I’ve been trying to beat the sports betting game for a long time now. It’s only until the past couple of years that I actually got disciplined enough to start thinking that I could actually be able to (one day) quit my job and bet on sports for a living.
My original plan was to start with a $2,000 bankroll and turn it into $1 million dollars within 10 years.
Now, based on my rate of growth, I’m going to try to do it within the next 5 years, by 2022.
And whether I succeed or fail, it’s going to be quite a bit of fun either way.
My confidence in my ability to pull this off stems from one main thing: tracking my bets.
If I didn’t have my spreadsheet with thousands of bets recorded in it, and numerous metrics that I can quickly see, then I just wouldn’t have the confidence that I do now.
I’ve been through the losing streak from hell, and while I came out of it beaten and bruised, it didn’t break me. Instead, it taught me plenty of lessons.
It taught me things like not using so many handicappers at the same time, without a sufficient bankroll to handle all of those bets. It taught me that it’s okay to bail on a handicapper if he loses for months at a time. It taught me that it’s okay to even contact him and try to get his take on things.
But above everything else, it taught me how vital it is to track my bets.
I don’t know many people that could consistently lose quite a bit for 3 months in a row, and still keep on going. That either takes an incredible amount of dedication, or stupidity.
But since I had numbers in black-and-white, staring back at me, I knew that I had to keep going. I had a profit graph that told me the exact day things took a turn for the worse. I was easily able to go back to that very day and see what I changed that resulted in such a disastrous losing streak, and then correct it.
You can look at any of my monthly updates and see the exact moment that my losing streak started, and when I made the change that fixed it.
I can still remember opening my first sportsbook account at BetUS back in the early 2000s. I had bought an NBA/MLB sports betting system that had me chasing my losses, and it worked really well —
until it didn’t anymore.
I would watch every single game that I bet on. It seemed like I was sweating every game; very few were just outright winners early on.
My betting was erratic, and frequently fueled by alcohol and Red Bull. It was very common for me to bet anywhere from $20 - $100 on a game, and then bet $250 - $500 on a night game. I was the very definition of a losing sports bettor.
Those were the early days, and thank God they’re long gone, dead, and buried.
If I can save just one person from going down the road I went down, then I’ll consider this site a success. Unfortunately, I fear that it’s an education that has to be learned by the majority of professional sports bettors.
After all, if you haven’t learned how to lose, how are you going to handle your business when you do start losing? And make no mistake about it; I don’t care what kind of a winning streak you’re on right now. I don’t care if you haven’t had a losing year in the past 5 years. You will have a losing streak. You will have a losing month. You might even have a 3-month losing streak. Are you prepared for it?
I sure wasn’t, and I’m glad that I already got it out of the way, because now I know that I can handle anything in my business.
The interesting part, to me, is that I know that my sports betting strategy will always be a work-in-progress. It’s continuously evolving. Markets change all the time, and we have to make adjustments to those markets, if we want to keep making money.
I mean, just a year ago, I had barely started live betting. Now it consists of the majority of my bets. Sure, I’d like the betting limits to be higher (I’m already past the betting limits for my 5Dimes account), but it’s been incredibly profitable for me so far.
I know that it won’t always be this profitable for me, because of what I just said: markets change all the time. Markets try to become as efficient as possible. When a market becomes fully 100% efficient, I can’t make any money.
I don’t know what the next 5 years holds in store. I hope that I will still be live betting in 5 years, because my 10-year million dollar plan has been reduced to a 5-year million dollar plan.
Will I be able to pull it off?
Fuck if I know.
But I’m going to do everything I can, and use everything that I’ve learned, to try to pull it off.
Good luck on your bets!
Steve firmly believes that most meals can be improved with mac n cheese. When he's not helping people make money betting on sports, Steve loves mountain biking, playing video games with his son, & annoying his wife. Oh, and he's a big Dallas Cowboys fan. Don't hate.