Submitted by rsteel on
1) Being Under Capitalized. Do not be disillusioned to think you can make a full time living on a minimal bankroll.
2) Not having enough sports book accounts funded whereby you are not getting the best number available. Betting -1.20 when -1.14 is available is just burning money.
3) Not following proper money management procedures. There is no such thing as a lock in this business. However risking more than 2% of your bankroll on a game will guarantee you will not be around long term.
4) Having no established goals. Are you betting for entertainment, part-time income, full time income. Any category is fine as long as you have chosen one and your bankroll is congruent with that goal.
5) Not record keeping. Do you know of any businesses that at the very least do not have cash flows and financial statements? How do you know if you are making any money or if you are any good at this or not.
6) Lose money and start pressing. Win money and stop doing the work that made you successful to begin with.