Money Biz Blog

There are two kinds of gamblers… those who lie about their losses and those who don’t. Very few people who gamble come out ahead.

However, you can sometimes win betting on college basketball if you a both smart and lucky.

Those who do win…that small minority…tend to do it by strictly adhering to six simple rules.

1. Decide on a budget at the beginning of the season. Determine how much you want to bet on individual games, and the maximum number of games on which you will wager. Your budget should be low…an amount of money you can afford to lose without hardship. If at any point you are tempted to increase the maximums you have set, stop gambling immediately.

2. Research, analyze, and review before placing a wager. Successful bettors rely on their intellects, not so-called gut feelings.

3. Do not bet every game you think you have handicapped. Bet only those about which you have good reason to feel highly confident. Your percentage of winners is likely to be far higher.

4. Do not get too carried away with trends, particularly longterm historical trends. Are statistics from past seasons really important? Decide what data is really relevant.

5. Continue to question and analyze the method by which you select games and winners. Do you tend to select games which interest you instead of games in which choosing a winner might be easier? Too you place too much value on a team’s ability to shoot three pointers? Do you tend to favor teams from tough conferences without deeper analysis? What kinds of games have you been more likely to win?

6. Never underestimate the value of the homecourt in basketball, especially college basketball. In no other major sport is playing at home such a huge advantage.

If you follow the rules above without exception, the odds of your coming out on top against the pros…the online and the brick and mortar casinos…is still pretty low. But, you’ll have a good chance against your friends and in the office pools. And, the bragging rights are even more fun than the few dollars you can win.