The 18-year-old is set to make his AFL debut in the Queen's Birthday match against Collingwood on Monday.
Bailey said Watts had already shown through his time management skills that he could handle playing football and school.
But the coach conceded that playing at the highest level and studying year 12 would be taxing, and said maintaining form while staying fresh mentally would be a challenge for Watts.
"He's a very busy boy and when you're as busy as he is, you've got to be patient," Bailey said of Watts at the MCG on Wednesday.
Although acknowledging it was a great marketing opportunity for Melbourne, he said Watts had strung together consistent performances with Casey Scorpions in the VFL and he had earned his call-up.
"What he's shown over the last couple of weeks, he deserves the chance to play this weekend. It happens to be Queen's Birthday and that's great," Bailey said.
"If you're a marketing person, you'd think that’s brilliant, but I can tell you it had more to do when he was ready to play. He needed to put a couple of good games together, which he has done."
Although he said Watts is a driven young man, Bailey is expecting nothing more than a contribution against the Magpies.
"I hope Jack just goes out there and does his best and tries as hard as he can for as long as he can. We'll see what happens and that's the exciting thing," he said.
Bailey is optimistic Watts will draw a crowd not only of red and blue faithful, but also those who simply love the game.
"I'd like to think there'd be a few who would want to come along and see Jack play his first game. There might be other people who will want to come along – not just Melbourne people," he said.
"I'd like to think that we'd have a really strong representation of Melbourne numbers and supporters who will come along, because they'll want to see Melbourne win. There is a real drive amongst the players to really perform well on Monday.
"I'm sure they'll be there in their numbers and we'll have the big Jack Watts wing. There will be that many Jack Watts people and the No.4 jumpers will be flying everywhere, so we think it's a great opportunity for people to come along."
But Bailey would not divulge where his budding star would start, saying he wanted to keep "some anticipation" about the game.
Meanwhile, Bailey said veteran forward Russell Robertson is a chance to return after being dropped last round, partly for his attempted shot at goal while lying on his back against Hawthorn in round nine.
"Robbo played well on the weekend [for Casey]. He kicked 3.6, so he'll certainly be considered," he said.
"He went back with the right attitude and he did all the right things."
