1) Be patient. "Rome wasn't built in a day." "Stay the course." "Tomorrow is another day." All of these sayings ring true here. You are not going to win ALL the money today, or this week, or maybe even this month. There will be winning streaks and there will be losing streaks. Just try to win one more than you lose each day. Over time small wins will become big profits. Lose your patience and you will most likely lose your money.
2) Money Management. You will need to figure out your budget, or "bankroll" before you get started. This would be an amount that you are prepared to risk. After you have determined your bankroll, you need to set your bet size per unit. This should be somewhere in the 2-4% range. Be consistent with this. Varying your bet size can hurt your long-term profits. Managing your money effectively will lead to your long-term success.
3) Never Panic. All sports bettors at some point will run into a losing streak. Inexperienced bettors will see their bankroll take a hit and panic will set in. They will feel the urge to get back their losses in one fell swoop and begin to "chase" their losses. This is a mistake. Take a step back, keep a level head and remember your Money Management
4) Track Your Bets. Selection. Odds. Units. Result. This is all useful information for you to track. By doing so you will know what is working and what is not. Without accurate tracking, you are making it harder to manage your money long-term.
5) Shop Around For The Best Line. Make sure you are getting the best possible line for the game you are betting. You will want to have access to multiple sportsbooks. Having a minimum of 3 sportsbooks and shopping for the best line can, in some cases, be the difference between a win and a loss. Over time these can add up.
6) Look To Bet Against The Public. This is also known as "fading the public." There is a reason sportsbooks do so well. The public loses. Think about it. If the masses were winning on a consistent basis, sportsbooks would be out of business. This certainly is not the case. The public betting percentages are easily found and you would do well if you consistently went against it. Numbers have shown us this.