The stock market has been crashing for some time. Gas prices are rising, inflation is sky high, and the crypto truthers are a little less than happy right now. In a bear market like this, it’s not a sexy thing to do, but it’s smart to be like a bear and hibernate until the harsh conditions pass. Has the market bottomed out? Is the worst yet to come? Are we one step closer to a recession? These are all questions traders and investors are asking themselves right now as they look for the next investment opportunity, trying to gauge when the bottom is the lowest to buy the dip.
As we head into July, sports betting is looking like a similar market. Investment opportunities in sports are currently scarce. The NBA and NHL seasons are both over, the MLB is still early in the 2022 season, the PGA has only one major tournament remaining, as does ATP tennis, and there are 58 more days until the start of college football. Be like a bear and hibernate.
Don’t force it
Tennis’ third major is currently underway with Wimbledon in London. With two weeks of Grand Slam tennis, there are certainly opportunities to buy every day. Not exactly. I took to Twitter to post this Day 4 of the tournament. I just couldn’t find anything worth betting on for me.
Were there any matches I liked? yes Did I have tendencies? yes But I didn’t love everything. I stared intently at my screen for hours, almost trying to convince myself that “Yes, this could work.” This is where mistakes happen. Force betting is never the right move.
Time to take a risk
The reason I never wanted to do poker as a profession (similar to trading) is that you are physically tied to a chair in a poker room, you have to try to make money daily, monthly, quarterly, etc. n. When you’re stuck in that, it’s very hard to consistently have the right conversations. Investors are looking for long-term bets that take years to play out. Venture capital can be 10 years, big hedge funds, big index funds, maybe five years during these bear market times.
You’ll hear “risk now.” Does this mean no money is made? yes This also means, however, that the money is not wasted.
As a content creator, I try to provide useful information every day. However, as a recreational sports bettor, I’m here to remind you that we don’t must to bet daily. This is a slower part of the year when high conviction betting opportunities are scarce. Betting markets are currently too rigid or too volatile. Day 4 Wimbledon lines looked so-so to me so it was a “no risk” day.
What to do in the meantime
As mentioned, football is less than 60 days away. There are a few things you can do between now and then that don’t put your bank at risk during a sports break. Here are some ideas.
Work on building your record keeping. Here’s what I did for the 2021 football season. I organized my data by college football and NFL and then divided the sections by type of bet made — ATS, underdog line, teasers, totals, etc. There are phone apps you can use, but I like that they’re organized exactly how I want them to be, rather than some default setting. Also, viewing a 16” screen is easier on the eyes.
Do a digital detox. I took nine days off last week. The biggest thing I did was delete Gmail and Twitter from my phone. While I was walking, lifting, laying by the pool, I wasn’t distracted by endless scrolling on Twitter or seeing what work emails came in while I was gone. It allowed me to fully be with the people I spent time with and appreciate my surroundings. I’m definitely not suggesting a nine-day vacation if it’s not possible, but maybe start an evening practice of stepping away from your phone/laptop for an hour to relax your mind.
We are not machines. Our brains can also be overloaded. Our minds and bodies are like cars that need a tune-up from time to time. Try it for a week and see how refreshed you will feel.
Jump start a fitness routine. Just because it’s July doesn’t mean it’s too late to get into that hot girl/guy summer. You have 60 days to improve your health before starting your weekly beer and wings routine during football season. For me, it’s margaritas and queso. Start by taking 10,000 steps a day. You can easily achieve this by walking for 30 minutes every morning while catching up on your favorite podcasts. Then keep in mind to just walk more during the day and just like that you can hit 10,000 steps or get pretty close.
Join a gym, try hiking, rollerblade, bike on a Saturday morning, try jiu-jitsu. Whatever it is, find something you’ll enjoy doing for at least a 60-day period. If you hate running, then don’t run. If you love pickle top, then make plans to play more often during the week.
Awaiting market value
The bear market may still exist in the coming months. Wait for the market to come to you. Like Day 4 of Wimbledon I missed. Sure, there were things I was going to fix, but there were also predictions I was wrong about. There are times when you might be right, but it’s not the best environment. Either the price is too high or the conviction is too low. Instead, skip the day and look ahead. Now is a great time to shop NFL and college football futures. The PGA Open Championship is just a few weeks away. Save your dollars now to make a more informed bet later.
Want some advice? If you want to be a sports bettor, understand that you don’t have to play all the time. Instead, look ahead to what lies ahead. Save the action for better opportunities. These opportunities, for example, are at the beginning of the football season, when there are over 50 college football, NFL, PGA and ATP games going on simultaneously.