Many think about and want to become a full-time sports bettor. They make several plans, they study, and they plan in order for that to happen, putting their mind to it, but they forget something essential that is needed in any kind of change of profession.
THE IMPORTANCE OF A FINANCIAL RESERVE FOR THE SPORTS BETTOR
Which is having an emergency fund that serves to cover your cost of living for the first couple of months of profession, or so that if things don’t go as planned, everything is still “under control”.
Therefore, anyone that wishes to change jobs, before anything else, needs to have a financial safety net. And having that financial reserve gives you confidence and some psychological and factual support.
I recommend having a fund of 6 to 12 months of your cost of living put aside on a location where it can be withdrawn quickly if necessary.
That safety is very important and working with that support can make all the difference in order not to step away from the line of work you’re trying to get into.
Then, we have to think about the following steps. Remember: In order for everything to work out well, good planning is necessary. And without planning, you won’t get anywhere.
And if you try to insist without planning, you will clash on two alternatives: you will either take too long to reach your goal or not be able to get there at all.
Still about that, if you make a 6-month backup fund, things aren’t going as plan and you eventually use 4 months of that reserve fund, it is time to go back. Return to having sports betting as a secondary source of income, adjusting the method and look to find another primary source.
Therefore, when you use 4 months of a 6-months fund, it is time to STOP. And you should really stop! Don’t continue or try to “fix things” at this stage. Stop, because it is sometimes necessary to take a step backwards to take 2 steps forward in the future.
For the safer profiles, they can utilize the 12-months reserve plan. And the idea is the same. If you utilize 10 months of that reserve fund, it is also time to stop.
THE DECISION IS YOURS
Reminding that I’m only describing concepts, the decision is yours and will depend on your own profile.
I really like to highlight the importance of creating a plan and making the reader understand that sports betting is a job like any other. In fact, it is a job where you are your own boss. Therefore, you should always try to be in control of the situation.
But is that possible? Yes, it is possible!! But bettor don’t want or don’t look to start off in correct fashion. They want to start off in the “easier” and wrong way.
Then they give up or they’re left with the idea that sports betting is a GAME, as many people claim. Something that is very far from the truth, at least in my opinion.
That is today’s message! We’ll try to bring a professional vision to our readers with each article.
BUILDING YOUR OWN PAATH
Therefore, before thinking where you want to get to, start building that path today and do it in the right way. If you do that, I’ll assure you that you will already be ahead of many.
Start creating a financial reserve according to your cost of living. Maybe it isn’t a fast step to take, and therefore many don’t take it… But you can be sure that later you will think: Why didn’t I do this earlier???
I hope you’ve enjoyed it, greetings and until our next article.