Since the only way to win in sports betting, according to those who claim to be successful is to treat it like investing, I think that idea actually makes sense. So for our fellow sports bettors here, I’d like to throw this question based on your personal understanding:
Maybe you are talking about pro betting where gambler has the edge over the sportsbook by different means. That is perhaps the only way how you can make money from gambling and consider it as investing, knowing that you will get a bigger return.
What mindset or approach do you use to treat it seriously, like you're managing a portfolio?
Not really, and I am still losing on sports betting. But I do know my limits and know how much I should deposit and when to stop, before I get tilted and deposit more. I can't say I am investing in sports betting but I am doing some controlled sports betting and only betting on games I watch for fun, adding just another layer of fun to it by wagering some amount.