If your approach to this industry is to “bet it and forget it,” you are doing this wrong. The business has changed over the last several years because of live betting and an increase in derivative wagering. The ability to bet in-game or make additional wagers at halftime adds more bullets for bettors to fire. It also requires a lot of discipline but can really help your bottom line when applied correctly.
During Week 1 of the NFL season, I watched the games with Dave Sharapan and a group of his buddies at Green Valley Ranch. A situation popped up that caused the wheels in my brain to start turning. A couple of texts later and I was sitting at my laptop writing about it after the game.
One of the guys had a three-team moneyline parlay that was live going into the Broncos-Giants game. Two underdogs came through with the Steelers and the Texans on a $100 ticket that had a payout amount in the $2,000 range. The last leg was the Broncos against the Giants.
The first decision was whether to let it ride. It would have been a simple hedge to take the pregame Giants moneyline at the best available price and lock in profit that way.
To go that route, the question to ask is: “What is the minimum I want to win?” Take whatever gets you to that point and bet it on the Giants.