The short answer is yes, but you should probably get off your ass and at least create a dedicated work from home space if you want to make any real money.
Today we are going to look at a few alternative ways to make money from the comfort of home. But, again a small disclaimer, you’ll get what you put in and if your goal is to stay planted on your sofa, the likely hood that laziness will override comfortable earnings is quite high.
On that note, it’s been proven that when working from home, setting a regular schedule and performing your job tasks in a dedicated work area – a desk or area that you set up for work – people are much more productive. It helps to separate personal time from work time. It’s the No.1-way people stay productive working from home and 43% of remote workers report that they set up a dedicated workspace.
— Flying Eze (@flyingeze) September 22, 2020
Ok. Now that we have that straightened out, let’s look at an exciting way to make money from home —hopefully not from your couch.
You might be one of the millions of people in North America who follow sports regularly. In fact, you might be one of those who play in fantasy leagues and takes your sports knowledge seriously. If you are one of these, then you may be able to make a decent amount of money from home by betting on sporting events. The first thing to note is using trustworthy betting sites will help ensure you get your winnings quickly and with minimal fees.
But where do you start? Ok, here is the crash course:
First, you’ll need to start with figuring out your bankroll. Meaning how much do you currently have set aside to begin your sports investing venture? Next, you’ll need to decide on a unit amount to bet on each game. This will depend on how much of a bankroll you have. Typically, you only want to risk between one and three percent of your total bankroll on any given bet. Personally, I stick to one-unit size to keep things clean and easy to track. Next, you’ll need to makes some rules for yourself that you absolutely must follow. Sure, you can adjust your rules based on data sets but it’s important that you stick to the plan and only adjust when you have sufficient information to do so —like every couple of weeks. The parameters I usually set are my min-max unit size, the number of games or events that I’ll bet per week, and the leagues (sport) and types of bets I’ll make.
Next, you need to set up power rating systems for each of the sports you are going to be wagering on. This will help you figure out the potential point spread weaknesses. After this, you need to realize and keep in mind that it is not the rest of the public who you are playing against. Also, you are not betting against the other team. Your enemy is the sportsbook and the betting line they set which you took action against. That is your enemy and nothing else. So, pay attention to the sportsbooks and the habits of the players there which may move the lines in or out of your favor.
It’s all about the timing. An opening line might be perfectly set, but based on public perception, or a whole lot of sharp money coming in on one side or the other, may move the lines into a position where you have an advantage over the line. Which brings us to the last thing you need to know to get up and running with a sports investing venture. Do not bet games where you don’t see a clear edge over the line you take.
OK. Now get up off your couch and over to a desk of some sort and start putting all of this sports knowledge and stats that you have stored up in that dome of yours to good use!
To read more on topics like this, check out the money category