When the NBA season ended, I started thinking about a strategy to bring in cash in SimBull. Given the value of the stock and wanting to test 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 help you get started in SimNBA on SimBull.
Before you dive in and start buying stocks, you want to take a step back and think about all the ways you can make money on SimBull.
- Play SimBull Six to win cash every week.
- Buy and hold shares to collect payouts when those teams win.
- Buy cheap stocks and sell them when they have a higher value.
SimBull Six:
SimBull Six is something that revolves around the NFL regular season, and the more involved you are, the better chance you have of winning some cash. That said, you can win cash any week you submit your pick, even if it’s your first time submitting at this point in the season. You can see more about SimBull Six here.
When you make your picks every week, it makes football week more interesting as you watch your teams try to get ahead 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 buy virtual stocks on SimBull. Here’s the angle I took.
Short term strategy
A short-term strategy I experiment with at SimBull is to hold high-priced stocks in the hope that they will rack up a string of wins throughout the season. The more expensive teams are generally the higher ranked teams, so they required frequently provide payouts of some winnings. Just like the stock market, the more you invest in the market, the more you can lose when the stock goes up. This is another reason why it is important to diversify your assets so that you don’t succeed in one market segment.
If you want to have some stocks in your portfolio that will provide you with lucrative payouts on a regular basis, you’ll probably be safe picking any of the top five teams heading into the season. However, it is very important to be aware of the current situation of each team you are going to invest in. For example, injuries, chemistry issues, off-field drama, etc. can have an impact on team performance. Going into the NBA regular season, I decided to put money on my favorite team, the Los Angeles Lakers (SimLakers). Not only will I watch most of those games to see if my investment is worth it or not, but I also know that as a top team, they should have 40-50 ($4.00-$5.00 $0.10 each win for win) win based on their rating. at the beginning of the year. So if you had a stake in three of the best teams to start the season, you could make $12-$15 just by holding those shares. However, if those teams fall in one way or another, the value of those shares will drop and the payouts may not be worth it. This is why it is important to have an alternative program to earn cash.
Long-term strategy
The long-term strategy in any investment is to buy something at a lower price with the plan to eventually sell it when the item has a higher value. And that’s exactly what I did with my long-term SimNBA investment in SimBull.
I looked at all the teams in the league that are on the rise. teams that look ready to break into their team and find some success in the league. For me, that team was the Charlotte Hornets. They have a young LaMelo Ball, coming off his second NBA season, who won Rookie of the Year. They also have Miles Bridges, another young player with potential, especially with a playmaker like Lamelo running the ball to him. Basically, I tried to find a low cost team that could surprise some people with a solid, winning season. If that happens, I would collect payouts and as the season goes on, more people will bet money on that future team, therefore making my investment more valuable, and I could sell those shares. profit.
Get busy!
I am excited to be involved with SimBull as I can see this platform only getting bigger. I highly encourage you to go and see what it’s all about. Just visit https://simbull.app/abstract, use promo code ‘abstract’ when you make your first deposit to get $10 bonus to start your portfolio.
Kyle Richards
I’m a design thinker, digital creator, and a firm believer in the power of sports.