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. The bankroll for sports betting is the money you have available for your business not money for family living expenses. There is nothing wrong regardless of your bankroll of setting reasonable goals and setting out to methodically build that bankroll similar to reinvesting into your business.
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. Increase your profits without increasing your win %. Part time have a minimum of 5 sports book accounts. Full time have a minimum of 20 to operate your business.
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 aligned with that goal.
5) No 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.