If you're passionate about sports and are thinking about starting a business of your own then the sports handicapping business is definitely one to consider. It has several advantages compared to a lot of other businesses. Here are just seven of them.
#1: Potential Earnings
The earning potential for competent handicappers is excellent, to say the least. While there are no guarantees in this or any other business, it is not uncommon for paid, professional handicappers to make five-figure annual, or seasonal, incomes. Of course, the more successful ones can certainly make six or even seven-figure incomes.
As in any other business, the handicapper's degree of success will depend on several factors (marketing, promotion, management, etc.) in addition to his handicapping skills. But, overall, there is very good money to be made if you're willing to devote yourself to the success of your business, whether you specialize in one sport or work several.
#2: Tax Advantages
The tax advantages to the handicapping business owner can be pretty nice, especially for those who already spend a good bit of money on sports entertainment anyway. For instance, premium sports television packages, game tickets, and sports information services might all be claimed as legitimate business expenses by the professional handicapper. In general, just about anything that helps the handicapper in his game research and analysis could be a potential business tax deduction.
#3: Low Entry Barriers
Unlike many professions, the entry barriers to the handicapping trade are virtually non-existent. There are no degrees, certifications or any formal training required whatsoever. There aren't even any special license requirements for those in the handicapping business. It's pretty much open to anybody who has the confidence to pit his analysis against the sports books and public opinion.
#4: Low Startup Costs
You'll find that the typical startup costs involved in the handicapping business are relatively low compared to most other businesses. It really doesn't require a large cash investment to get up and running in this business. After all, your product is nothing more than your opinion on sporting events. A pretty simple business model, really. There's no inventory to buy and nothing to manufacture. Your opinion is your product and your service, period.
#5: Seasonal or Full time
One of the really nice things about the handicapping trade is that you can choose which sports and seasons you want to work. You may want to specialize in college football, for example, then take the rest of the year off. Of course, there's always the option of working full time throughout the year analyzing several sports. It's totally up to your discretion as dictated by your personal circumstances.
#6: Work Anywhere
Thanks to the great advances in technology over the last several years the handicapper can pretty much work wherever he wants. Armed with nothing more than a laptop computer, wireless internet access, and perhaps a cell phone you can operate your business from just about anywhere. Want to work at home? No problem. Sit by the pool if you like. Or, you might even want to turn your favorite sports bar into your office once in awhile. Why not? The technology is definitely there to make it possible.
#7: Live Anywhere
You'll find professional handicappers living in just about every region of the United States. While some do prefer to work out of Vegas, it is by no means necessary. To be honest, most of your prospective clients won't give a damn where you live as long as you can give them winners. The state or town you operate out of is really pretty insignificant in the grand scheme of things. Basically, the handicapper is free to live and run his business from wherever he wants. So, why not take full advantage of the situation? Most people only wish they had that kind of flexibility.