What I’ll Do When Sports Betting is Legalized in the U.S.
Sports fans got some potentially awesome news recently, with reports emerging that everyone could be one step closer to getting legalized sports betting in the United States.
On Monday, the Supreme Court inched closer to opening the door for New Jersey to win its battle on legalized sports gambling. Should New Jersey pull out the win, the framework could be in place for sports betting to be legalized across the country.
Each state operates on its own when it comes to gambling laws, but a federal law approving sports betting across the board would be huge for the industry.
States that simply abide by federal law could quickly be swayed to give in to citizens that want to bet on sports, while even states that stand opposed could be petitioned to reconsider.
Needless to say, if things continue trending the way that they are, legalized sports betting across America could soon be a reality.
It’s About Time
To that, I say it’s about time.
It’s truly crazy that people can’t freely place bets on sporting events right now, yet America still has state lotteries and allows betting in other capacities.
People can go to Vegas and place bets on anything they want and bet at horse tracks, but for some reason, this great country is still not allowed to do as it pleases with its own cash.
I, for one, am very much looking forward to a future where I can bet on sports. The biggest reason is that it is my right to do so.
In a world where people scrape by on minimum wage, only to watch someone with a one-hit wonder make more money in a single year than they could make in their lives, it’s really not fair that I don’t get every option to do the same.
That, and who likes being told when they can bet or when/why they can’t? The government has tirelessly tried to paint sports gambling as some immoral practice, but all kinds of betting goes on all the time.
I understand that opens the door to wide corruption and gambling addiction, but it’s never been fair to treat gambling any differently than the abuse of any product or act.
Alcohol can make for a great time, but if you abuse it, then yes, you’re going to get addicted, negatively impact other people and perhaps even encounter health problems.
Guns can be useful for hunting, for fun and for protection. Of course, when used in a negative manner, they look pretty bad rather quickly.
It’s all about perception and your environment, but if you look at sports gambling from a broad perspective, it makes zero sense that in today’s society it’s not legal to do it everywhere in the United States.
All good things require moderation. You don’t want to consume too much dairy, too much red meat or too much alcohol.
There’s very little in the world you want to do too much of, but this is common sense and gambling addiction or corruption is simply a risk with people afforded the ability to make their own decisions.
For the betting public, sports wagering should actually be a great source of entertainment, an extension of popular sporting events, a fun way to compete with friends and if you’re good enough, a great way to make money.
My goal, naturally, would be to profit off of sports betting.
I know, I know, everyone seems to think they’d be awesome at making the right picks and winning big. However, I’ve actually been making sports predictions for a good portion of my life.
It’s been done without putting a lot of my own cash on the line, but I’ve built up a long line of successful picks (and knowledge) that suggest it could be a profitable act.
I’m also a planner, so I currently don’t go into my sports picks with a kamikaze attitude and I certainly wouldn’t just dive into a legalized sports betting world without setting myself up for success.
You don’t have to follow my same plan, but with this news coming out, getting yourself ready in some manner isn’t a bad idea. Regardless, here’s how I’ll proceed so I’m ready to rock when sports betting is finally made legal:
- Set a Bankroll
- Set Limitations
- Pick a Site
- Stick to One Sport
- Bob & Weave
There is an endless supply of sports betting strategies on this website, so you really don’t need me to lecture you on the best practices or any secrets.
That being said, a refresher on the basics could be needed and it’s how I’ll build my betting foundation from the ground up.
Setting a Bankroll
Starting with and maintaining a bankroll is gambling 101. You never want to gamble blindly without setting limits or at least some type of guideline for how you spend your cash.
Just like people keep a budget for regular finances in everyday life, you’ll want a budget for your sports betting. This number can be whatever you deem feasible and should be filed under sports betting or entertainment in your actual budget.
You never want to be taking money out of allocated funds. In other words, don’t play with money that isn’t yours to spend. Put rent, bills and any money owed elsewhere, separate from your gambling fund and build your bankroll from there.
If you’re not a regular sports bettor, consider starting small ($100-$300) and committing to not going over that amount for a specific duration.
The hope is to make this money last and over time watch it grow, rather than have it just become an entertainment “expense”.
As you wager, you should be able to log some wins and eventually you can re-approach your bankroll. Until you do, however, you should set restrictions for yourself.
You’re doing that by using a specific bankroll to get the ball rolling, but you’re also going to want to monitor how much you wager per bet, whether it be on a daily or weekly basis.
There is a reason why bettors refer to professional gambling as a “grind”. Slow play your betting strategy until you see positive results and simply adjust accordingly.
Picking a Site
This should actually be a lot of fun, as there are a ton of sports betting sites to choose from and this site goes over several in great detail.
I’m not here to necessarily plug any specifically or tell you which ones to use, but there’s a long list. Because of that, you certainly want to consider the following:
- Safety & Reliability
- Customer Service
- Payout Versatility & Success
- User Reviews
- Betting Value & Odds
There is more to look at when choosing a sports betting site, but this is the stuff that matters.
You want to find a solid site that is easy to trust, treats you fairly, pays out your winnings in a timely manner and also provides competitive odds.
A great way to find this is by looking over this very site for sports betting website reviews, while also hitting up regular user reviews and tracking how long sites have been around.
Do all of that and you’ll quickly discover which sites are the best of the best. Ideally, you’re not just choosing one, too. Having funds in several sites you know you can trust means you’re always going to get the best bet possible, based on availability, value and upside.
You certainly want to locate the site you favor above all others, but having 3-4 go-to betting sites at your disposal makes for a more versatile betting experience.
Master of One
I like to think I’m a smart sports fan and I could hold my own in just about any sports betting genre.
Unfortunately, I’m not a golf expert, I don’t follow Nascar at all and asking me who is going to win the next big darts or bowling event is like asking a five-year-old how to change a car’s oil.
The result won’t always be great, right? There is that one mechanic genius out there who is dazzling at five, but most every other kid at that age will destroy the car.
Eventually, you’re going to research and bet enough to the point where you feel comfortable placing multiple bets across multiple sports. However, as you first get started, it’s best to just stick to your favorite sport that you follow religiously.
This should, in theory, allow you to devote all of your expertise to maximizing value and using your skill-set and knowledge to fattening your bankroll. Once you do that, you can start prioritizing your betting any way you see fit.
Still, I think it’s a good idea to use a seasonal approach to sports betting, or at least devote specific days to one genre at a time.
During the NFL and NBA seasons, the two sports collide on the weekend. Perhaps you can dedicate Saturday to making great picks for Sunday and refrain from all other betting on the weekend.
Bob & Weave
Lastly, you want to keep things interesting for yourself, but also for your bankroll. Grinding out wins is always the best foundation for a consistent winner, but you still want to take chances on high upside underdogs when the time is right.
Your own research is going to dictate when and where that happens, but only picking favorites or low-upside bets creates an unnecessary restriction on your earnings potential.
That isn’t to say you’re going to win big every single time you chase a big underdog and it certainly doesn’t mean you should fall in love with upset picks. It does mean that you should let your research and knowledge do the talking, however.
If you’re on a hot run, maybe consider taking an extra risk or two on any given betting slate. Whatever you do, just be sure to keep the low-risk wagers as the core of your betting strategy.
All of this is good advice, but remember this is just what I personally plan on doing once sports betting is made legal. It isn’t automatically going to make you rich or a professional sports gambler. However, if you use these basics and build your own guidelines and strategies, you could end up profiting in the long run.
I want to bet professionally and make money, but I’ll also be betting on sports for a second reason; it’s simply fun. I don’t ever need to be risking $200 per bet or chasing huge upsets, but sports gambling, in theory, makes sports more engaging and more interesting.
After all, when the dreadful Thursday Night Football schedule comes out and you’re stuck watching the Cleveland Browns and Cincinnati Bengals, the entertainment aspect of pro football quickly goes out the window. Adding in a betting and profiting dynamic immediately makes watching that game a viable notion.
Hopefully, in less than a year this will be a distant nightmare and betting on sports will be a positive part of America again.