As long as you can stick to a money management system, sports wagering can be a great way to generate extra income. Setting up a profitable and reliable money management system will definitely help in producting good returns with your sports wagering.
Instead of just looking at your win/loss record, your sports wagering results should be viewed on a return on investment basis so that you can start setting monetary goals to acheive. Your return on investment in sports wagering means that you are seeking to make an overall profit from the amount of money you have spent placing bets, whether that be over the day, the month or the entire sports season.
A good way to keep track of your results is to write down the total amount that you bet on sports wagering and your wins and losses. A good return on investment is where your net wins and losses total more than your sports wagering spending.
As far as goal setting in sports wagering is concerned, if you were to place all your bets with the same odds and for the same amount, you would need almost 53% of them to be wins in order to break even. As easy as it seems, it can really be a lot more difficult that it sounds. So if that is the case, if you set a 60% win rate as your 3 month goal then you should definitely see your profits increase while following and applying a great money management strategy.
To learn more about how to be successful with sports wagering, go ahead and grab a FREE copy of my eBook: Sports Investing Secrets – How to Turn $1,000 into $1,024,000 in Less Than 5 Years Betting on Sports by visiting my website: http://www.1stopsportsinvestors.com