I only gamble on college football and nothing else. I live in Vegas, so I can shop around for the best odds. I usually win 65-80% of my bets in a given year. I only bet $50-250/bet. I might start raising this amount tho if my addiction tries to outsmart me.
Early, in the first 2-3 games, it makes sense to bet early on the top 5 teams/top 5 expected offenses to cover against their usually crappy opponent. But, watch out if the public pushes the bet towards the favorite too much.
My strategy is to pick the top bets I like, then watch the movement. ALWAYS go against where the public has pushed the bet. Seahawks vs. Broncos in the Superbowl was a great example of this - betting on the Seahawks was smart when the line moved 5 pts in favor of Denver... So if your picks are in opposition of where the public is pushing the bet - make the bet.
Most improvement is in the first 2 games, so in the first 2 games I like to find some suspect, middle-tier Big 10 team like a ranked Northwestern, Purdue, Indiana, or Penn State with a huge, excited fanbase...and wait until just before game-time so that their fans push the odds in their team's favor as they get drunk, then make the bet against them for the underdog they're playing.
Another bet I like is on the under total pts when I can find 2 good rushing teams who will kill the clock fast. Oddsmakers sometimes really mess up here and neglect to factor this in.
As the season goes on past the 5-6th game, I keep track of the bottom worst 10-15 teams, and will bet against them if they are playing a decent team, especially if the crappy team is playing on the road. The worst teams tend to just give up their seasons.
And never bet on the Husky games.
My top picks this weekend are:
Louisville -6.5 over Virginia
Tamu -31 over Rice - Sumlin really likes to blowout opponents.
I think Iowa State will prob play close to Iowa, but the spread has been pushed too much towards Iowa State.