When the NBA season tipped off, I began thinking of a strategy for bringing in some cash on SimBull. Given the cost of shares, and wanting to experiment with the platform a bit, I thought it would be a good idea to have a short-term strategy and a long-term strategy. Based on my experience, here are some ideas to get you started in SimNBA on SimBull.
Before you dive in and start purchasing shares, you want to take a step back and think of all the ways you can earn money on SimBull.
- Play SimBull Six for a shot at winning cash each week.
- Purchase and hold shares to collect payouts when those teams win.
- Purchase low-cost shares and sell them when they’re higher in value.
The SimBull Six is something that revolves around the NFL’s regular season, and the more involved you are throughout the more of a shot you have at winning some cash. That being said, you can win cash any week you submit your picks even if it’s your first time submitting at this point in the season. You can see more about SimBull Six here.
When you submit your picks each week, it makes the football week just that much more exciting as you watch your teams try to pull through in favor of your picks. While it’s important to be in the game with your weekly picks, it’s good to have a short-term and long-term strategy if you decide to purchase virtual shares on SimBull. Here’s the angle I took.
The short-term strategy I’m experimenting with on SimBull is holding high-cost shares in the hopes they garner a bunch of wins throughout the season. The higher-cost teams are generally the higher-ranked teams so they should provide some win payouts often. Similar to the stock market, the more you have invested in the market, the more upside you can have when a stock takes off. This is another reason it’s important to diversify your assets so you’re not pigeonholed into one portion of the market succeeding.
If you want to hold some shares in your portfolio that are going to give you win payouts on a regular basis, you’re probably safe to choose any of the top five teams going into the season. However, it’s very important to be informed of the current situation with each team you’re going to invest in. For example, injuries, chemistry issues, drama off the court/field, etc. can all have an impact on a team’s performance. Going into the NBA’s regular season, I decided to throw some money at my favorite team, the Los Angeles Lakers (SimLakers). Not only will I be watching most of those games to know whether or not my investment is holding value, but I also know as a top team, they should have 40-50 ($4.00-$5.00 at $0.10 per win) wins based on their ranking at the start of the year. So, if you had a share in three of the best teams going into the season, you could possibly earn $12-$15 just by holding onto those shares. However, if those teams fall off one way or another, the value of those shares will drop, and the payouts might not be worth it. This is why it’s important to have an alternative plan for earning some cash.
The long-term strategy in any investment is to buy something at a lower cost with the plan of eventually selling it when that thing has a higher value. And that is exactly what I did with my long-term SimNBA investment on SimBull.
I took a look at all the teams in the league that are on the upswing; teams that seem about ready to break into their own and find some success in the league. That team to me was the Charlotte Hornets. They have a young LaMelo Ball coming into his sophomore season in the NBA having won the Rookie of the Year award. They also have Miles Bridges, another young player with potential, especially with a playmaker like LaMelo lobbing the ball to him. Essentially, I tried to find a team that was low-cost that might surprise some people with a solid, winning season. If that happens, I’d be collecting win payouts AND as the season goes on, more people would be throwing money at that up-and-coming team, therefore making my investment more valuable, and I could sell that share down the road for a profit.
I’m excited I got involved with SimBull when I did because I can see this platform only getting bigger. I highly encourage you to hop on and see what it’s all about. Just go to https://simbull.app/abstract, use promo code “abstract” when you make your first deposit to receive a $10 bonus to get your portfolio started.