Sports Investment vs Gambling
Sports Investment - Pick 5/7 games on Saturday and 3/5 on Sunday. Play these early in the week if you think the line will move against you, bet late if line moving in your favor.
Gambling - Play every game on the board
Sports Investing - Never ever make any more bets other than the 5/7 you had already marked to play. Whether you are winning, losing or breaking even, you except it and realize that next week will be here soon enough.
Gambling - If you are winning you play more on the late games trying to "crush the book". If you are losing you play more on the late games trying to "recoup your losses".
Sports Investing - Might play a Thursday/Monday night game if it fits into your same criteria you use for the weekend games.
Gambler - Have to make a play on Thursday/Monday games. Shoot "I love the action".
Sports Investing - Start the season with $$$ in the bank. Lets say $10,000. Play a small % on each pick around 5% ($500 per game). That way you never have to worry about paying rent or explaining where the $$$ went to your family.
Gambling - Play with $$$ you don't have. If you loss worry about where the rent $$$ will come from and explain to your family how come you never have any money.
Sports Investing - Always play the same amount on each game since you understand that going 4-3 on Saturday gives you winning % of 57% and a profit of $350 for Saturday. And 3-2 on Sunday is 60% for the season and a profit of $400 for Sunday. That’s right guys... a total of $750 per weekend just hitting 57-60%
Gambling - Play each game for a different amount hoping that your "best play" hits because you have 3 times more $$$ on it. End the weekend going 20-15 (57%) and still losing money because of the juice and your "Top Play" not hitting.
Sports Investing - Never play a game that you don't think will win. This goes back to the limited # of picks each week. You never force a play remembering that you might only have 3 plays on Saturday, but that is ok because 2-1 is still $450 in your pocket.
Gambling - Play every game on the board because "it should win".
Sports Investing - If you have a losing streak you stick with the plan of only playing 5% of your bank roll and sticking to a limited # of plays because you know that you can not win every weekend and that it is a long season.
Gambling - After a losing weekend you try and make all your $$$ back on one or two games risking way more on a game you don't really like than you did on the games you "loved" hoping to dig yourself out of the hole.
Sports Investing - Take your job (handicapping) very seriously. You understand that it is a job and treat it like one. Spending 40+ hours a week going over everything and still only playing 5-7 games Saturday and 3-5 Sunday.
Gambling - Go down the line sheet and mark the games that "can't lose" and call the local book and place your bet.
Sports Investing - You understand that losing is part of the process but the season is long and you expect to be ahead at the end of the season. Only then do you go out and celebrate with your winnings, holding your initial bank roll out so you can do it again next year.
Gambling - You expect to lose your ass some weeks and kick ass on others. You spend every dime you won the weekend before celebrating and patting yourself on the back. And then when you lose have absolutely nothing left to pay the book.
Sports Investing - You don't get too high or too low emotionally because of the games. The $$$ you won or lost is part of your "bank roll" and you can't do anything with it until the season is over anyway. Besides, you can still pay your bills and you know you wont have to deal with anyone nagging at you because your losses in no way effect your quality of living (WINNING DOES!).
Gambler - Kick the cat, yell at the wife and tell everyone to F-off when you lose since you feel like crap for blowing all that $$$. When you win you dance around the house, take your lady out to a fancy dinner and buy the cat a toy.. you are right F*** the cat!
Hitman
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