Sports betting can be a very fun activity for some, or a profitable investment strategy for others. Now while that last sentence is true, the ScoreMetrics method does not advocate gamblng on sports. Instead, it uses a backtested, data-driven analytical approach to investing in a market that is completely unaffected by a good or bad economy, nor is it affected by other markets like stocks, bonds, or property.
What we advocate for is data-driven, non-emotional investing, just like you would in more traditional markets.
For example, think about two scenarios. In scenario one, we’ve got Bill. Bill is a lifelong New York Jets fan, and he’s sitting in a bar in New Jersey with his cheese-stained Mark Sanchez jersey on. He’s a few Bud Lights into the night (because he can’t afford anything better) and he’s thinking about how much he loves his team. After one more Bud Light, he decides to walk over to the casino next door and bet $1,000 (or two months’ rent in Bill’s life) on the Jets to win the Super Bowl.
In scenario two, we’ve got Tom. Tom isn’t wearing a team’s jersey. In fact, he’s wearing a collared shirt with a tie. He’s just had a member of his team hand him a spreadsheet that shows him 10 teams that are likely to win this week based on a series of advanced statistical tests. He analyzes the data for a few minutes, he does not place bets, but instead invests in the probability of those teams being successful, and then walks out of the building. In fact, he walks straight to his Lambo, takes off the business shirt, and heads to the beach. He can, because his system works, and he knows his “team,” (of employees) will take care of him.
Which scenario seems like a better scenario? The Jets are still going to stink next season (sorry, New York), and Bill is probably going to be out $1,000. But Tom’s smart investments, they were placed because of statistical data and analysis. Bill was gambling, because he was using his heart and blind faith to make his decisions. Tom was investing, because he knew the statistical realities and placed his money accordingly.
The world of sports investing may seem radically different from traditional Wall Street investing, but it isn’t. In this form of investing or any other, invest what you can afford to lose and, if you can’t afford to lose, don’t invest. ALL investments come with some risks. Systems like these are meant to mitigate those risks, but there is always some involved. Remember that and follow the analytics and your investment experience in ScoreMetrics will be an enjoyable one.
Even with all of that said, we recognize that the very idea of investing in sports can be intimidating, especially for newbies, or even for some long time gamblers that have had poor results on their own.
Sports books are where you will make your investments, and they can throw around words and phrases you’ve never heard before. The lingo can oftentimes make someone not want to get too involved in something, especially when money is involved.
We don’t want you to be scared.
Scared money rarely makes money back when it comes to investing. Our goal with this guide is to ease your fears and grow your comprehension for this type of investing by teaching you the terms and vernacular you will encounter along the way.
Sportsbooks and websites can feature a ton of fancy numbers and different opportunities that can seem like they are in a different language. Plus and minus signs, parlays and over/unders, spreads and moneylines, the language used can confuse the heck out of people.
Remember, every field has “jargon,” or specified terms that either aren’t used in other fields or mean something completely different in that world. If you’re a trader, think back to when you had no idea what it meant to “short” a stock, or when you thought a “pip” was just some wacky thing that British people said. If you’re not a trader, think about the fancy terms in your workplace that no normal person would ever use. We all have them!
It’s important to know these terms and learn this “jargon,” otherwise you won’t be prepared to compete at the highest level of sports investing. But don’t sweat it: this stuff is easy to learn. We just want to prepare you if you’re going to take this seriously!
Again, we aren’t talking about playing fantasy football with the guys from work, we are talking about high stakes, big reward game hunting, and knowing the wording and understanding the metrics is key to turning this into a speculation opportunity. That’s very different from gambling on the occasional game.
That’s why we have come up with this short A-Z Guide to Sports Investing.
Below are a few of the frequently asked questions from people just starting, plus you’ll find a short guide of terminology that will get you started and make you feel a lot more comfortable. Once you begin to master these terms, you’ll understand how straightforward and manageable sports investing can be.
Once you’re done arming yourself with a bit of knowledge, read deeper into the content we provide and educate yourself before you invest in anything. We preach many things in our method but one of the most important things when investing is to understand what you are investing in and how those investments work.
If you are already wagering on sports, then stop. Read our course material and change the way you think about this. This is not about gambling and getting that Sunday adrenaline rush. This is about investing your money in backtested opportunities that can potentially pay off big, managing your money the correct way, and running this entire endeavor as a business and not as an overly expensive hobby.
I did then what I knew how to do. Now that I know better, I do better.Maya Angelou