Do You Have What it Takes to Run a Profitable Sports Advisory Service?
Over the years I've had a lot of people ask me what the most important qualities are for someone to succeed in the handicapping business.
Based on my observations of paid, professional handicappers, here are my top seven.
Passion for Sports: Almost without exception one of the most common traits of the successful handicapper is a passion for sports.
Obviously, running a handicapping business requires you to spend a great deal of time analyzing sporting events.
So, you had better at least be interested in sports.
But, that's the easy part.
Most people pass this test with flying colors.
If you're one of them, keep reading.
Let's see how you do with the rest of them.
Self-Confidence: Handicapping is not a business for the timid.
Handicappers are, by their very nature, some of the most self-confident people I've ever met.
If your confidence is easily shaken by a few losses here and there, then you might want to keep your day job.
On the other hand, if you can project a confident image (even when you're having self-doubt) then you just might have a future in the business.
Thick Skin: This quality is a natural complement to the one just mentioned above.
Every successful handicapper I've ever known has had the ability to quickly shake off disappointments and move on.
You might compare it to playing quarterback.
The ones who let one bad pass rattle them aren't going to have great success.
The great ones all have the ability to put those plays behind them and continue to perform at a high level.
Handicappers need to have a "short memory" as well.
The paid professional doesn't have time to cry in his beer about yesterday's losses or the nasty email he got from an angry client.
There's always another slate of games on the schedule to analyze.
And, that's where his focus has to be.
Entrepreneurial Spirit: The paid, professional handicapper is, first and foremost, a businessman.
It's crucial to his success to understand this from the beginning and never forget it.
Those who have a natural entrepreneurial spirit tend to do much better in the handicapping business than those who lack this quality.
If you are comfortable with the idea of running your own business, and can accept the risks that go along with it, the potential rewards can be very attractive.
Competitive Nature: Without exception, handicappers are some of the most competitive people you'll ever meet.
Maybe that's what drives many of them to succeed in the first place? So, if you don't like to compete maybe you should really think twice about getting into this business.
If, on the other hand, you are the competitive type, then you'll probably feel right at home in the industry.
Analytical Mind: While handicapping isn't necessarily "rocket science" it does require some smarts to be really successful at it.
It almost goes without saying that most of the top people in this profession are pretty bright guys capable of analytical thinking.
This should come as no real surprise since the essence of the business is pitting your opinion against the sports books and the betting public alike.
Will to Learn: Perhaps even more important than sheer brains is the will to learn.
From what I've observed the most successful handicappers are those with a "thirst for knowledge.
" If you're willing to put in the time and effort to really study and research the sport(s) of your choice then that can make all the difference in the world.
It's important in any profession to learn from others.
So, read whatever good books and articles you can find on handicapping theory.
You should probably start your search at GamblersBookClub.
com.
They have a wide selection of books on gambling and handicapping theory.
It might also be very worthwhile to educate yourself on probability and statistics.
I firmly believe that all great gamblers have an instinctive (if not technical) understanding of this fascinating application of math.
At the very least it helps you to think analytically.
Other subjects you might want to read up on are small business and marketing practices.
After all, the handicapping business is not just about picking winners.
As I said earlier, it's a business.
The more you know about running and marketing your business the better off you'll be.
In short, you should constantly be sharpening your skills to gain that "edge" over the competition.
There you have it.
These are what I consider the seven most important qualities of the paid professional handicapper.
How many of them do you possess? If you can honestly say that you possess at least five of the seven then starting your own handicapping business may just be for you.
Based on my observations of paid, professional handicappers, here are my top seven.
Passion for Sports: Almost without exception one of the most common traits of the successful handicapper is a passion for sports.
Obviously, running a handicapping business requires you to spend a great deal of time analyzing sporting events.
So, you had better at least be interested in sports.
But, that's the easy part.
Most people pass this test with flying colors.
If you're one of them, keep reading.
Let's see how you do with the rest of them.
Self-Confidence: Handicapping is not a business for the timid.
Handicappers are, by their very nature, some of the most self-confident people I've ever met.
If your confidence is easily shaken by a few losses here and there, then you might want to keep your day job.
On the other hand, if you can project a confident image (even when you're having self-doubt) then you just might have a future in the business.
Thick Skin: This quality is a natural complement to the one just mentioned above.
Every successful handicapper I've ever known has had the ability to quickly shake off disappointments and move on.
You might compare it to playing quarterback.
The ones who let one bad pass rattle them aren't going to have great success.
The great ones all have the ability to put those plays behind them and continue to perform at a high level.
Handicappers need to have a "short memory" as well.
The paid professional doesn't have time to cry in his beer about yesterday's losses or the nasty email he got from an angry client.
There's always another slate of games on the schedule to analyze.
And, that's where his focus has to be.
Entrepreneurial Spirit: The paid, professional handicapper is, first and foremost, a businessman.
It's crucial to his success to understand this from the beginning and never forget it.
Those who have a natural entrepreneurial spirit tend to do much better in the handicapping business than those who lack this quality.
If you are comfortable with the idea of running your own business, and can accept the risks that go along with it, the potential rewards can be very attractive.
Competitive Nature: Without exception, handicappers are some of the most competitive people you'll ever meet.
Maybe that's what drives many of them to succeed in the first place? So, if you don't like to compete maybe you should really think twice about getting into this business.
If, on the other hand, you are the competitive type, then you'll probably feel right at home in the industry.
Analytical Mind: While handicapping isn't necessarily "rocket science" it does require some smarts to be really successful at it.
It almost goes without saying that most of the top people in this profession are pretty bright guys capable of analytical thinking.
This should come as no real surprise since the essence of the business is pitting your opinion against the sports books and the betting public alike.
Will to Learn: Perhaps even more important than sheer brains is the will to learn.
From what I've observed the most successful handicappers are those with a "thirst for knowledge.
" If you're willing to put in the time and effort to really study and research the sport(s) of your choice then that can make all the difference in the world.
It's important in any profession to learn from others.
So, read whatever good books and articles you can find on handicapping theory.
You should probably start your search at GamblersBookClub.
com.
They have a wide selection of books on gambling and handicapping theory.
It might also be very worthwhile to educate yourself on probability and statistics.
I firmly believe that all great gamblers have an instinctive (if not technical) understanding of this fascinating application of math.
At the very least it helps you to think analytically.
Other subjects you might want to read up on are small business and marketing practices.
After all, the handicapping business is not just about picking winners.
As I said earlier, it's a business.
The more you know about running and marketing your business the better off you'll be.
In short, you should constantly be sharpening your skills to gain that "edge" over the competition.
There you have it.
These are what I consider the seven most important qualities of the paid professional handicapper.
How many of them do you possess? If you can honestly say that you possess at least five of the seven then starting your own handicapping business may just be for you.