Money making ideas

[skinnyman]

I make about £2k/mth from a side project.

However, it does require substantial initial capital, it does take a lot of time and experience, and it does carry risks.

These are the realities of making money outside of a full time job.

[DeanKH]

Quite surprised nobody has mentioned matched betting as a possibility yet. That often has the £2k/month figure banded around quite a bit. It's definitely possible at first if you have some money to put into it, but it tails off after a while from what I can gather.

skinnyman said:

I make about £2k/mth from a side project.

However, it does require substantial initial capital, it does take a lot of time and experience, and it does carry risks.

These are the realities of making money outside of a full time job.

Interested to hear some more about this. Substantial being 10k? 25k? 100k?

[skinnyman]

DeanKH said:

Interested to hear some more about this. Substantial being 10k? 25k? 100k?

Match betting became a victim of its own success, one certain person/company took it to the masses and has thousands of subscribers, unfortunately most of these subscribers are noobs to it all, and need their hand holding, so they roam around in packs, all following the same bets/advice, which makes it very easy for bookies to spot them.

An offer is available on the footy say on Saturday, this subscription service recommends how to make the money, all the subscribers place the same bet at the same bookie, it's like shooting fish in a barrel. Match betting, in its truest form, is getting a lot more difficult.

[DeanKH]

skinnyman said:

Match betting became a victim of its own success, one certain person/company took it to the masses and has thousands of subscribers, unfortunately most of these subscribers are noobs to it all, and need their hand holding, so they roam around in packs, all following the same bets/advice, which makes it very easy for bookies to spot them.

An offer is available on the footy say on Saturday, this subscription service recommends how to make the money, all the subscribers place the same bet at the same bookie, it's like shooting fish in a barrel. Match betting, in its truest form, is getting a lot more difficult.

Would that be a certain Mr Stoffel by any chance?

Yes, you're right, it is like shooting fish in a barrel. I've done a lot of the sign up bonuses but recently been wondering whether its worth carrying on afterwards.

Is your side project something of a similar type?

[skinnyman]

I started out matched betting, but moved onto advantage play. Its similar, still sports betting and casino offers, but without the laying off side at the exchanges, now I just take offers that are positive expected value, the odds/offer you're getting is higher than the calculated odds of the event happening. So for all intents and purposes, its gambling, if the bet loses, you lose money. But you rely on the maths of what you're doing being correct in the long run.

[DeanKH]

skinnyman said:

I started out matched betting, but moved onto advantage play. Its similar, still sports betting and casino offers, but without the laying off side at the exchanges, now I just take offers that are positive expected value, the odds/offer you're getting is higher than the calculated odds of the event happening. So for all intents and purposes, its gambling, if the bet loses, you lose money. But you rely on the maths of what you're doing being correct in the long run.

Interesting, any decent forums on the topic?

[skinnyman]

I'm not sure to be honest, I started off in the matched betting forum on MoneySavigngExpert, but no discussion of it in there, it has to be risk free on there, but I met a few people on the forum, and we now have a small whatsapp group of around 20 of us, sharing offers/ideas/tools etc.

I'm sure there are forums based on the subject, but its one of these things that does make people money, and so alot of people keep methods and such to themselves, protect their income, so the only forums you're likely to find are the matched betting subscriptions type things.

[Zoon]

Splats said:

droopsnoot said:

I sent a PM, got an email asking for my phone number, never heard any more. Is the idea collecting mobile numbers and selling them on?

I was the same, I even responded asking for some very basic outlines of what was involved so at least I was somewhat prepared going into any subsequent call. It all went quiet after that. I'm guessing its because the pyramid scheme only works if Uber can same my name 20x in the conversation and each time ask a question like, "are you happy with the money you are making [name]", "[name] do you see how this could give you the freedom to buy that car?" and finally, "think about it [name], can you afford not to do this?" Throw in a dash of over-inflated and downright made up figures and some slick talking and maybe, just maybe, the prospect on the phone will take up this "one time, now or never" offer.

So it was all a load of bks then?

[droopsnoot]

Looks like we'll never know. He did say he'd passed the secret on to a couple of people then got too busy to call anyone else. I'm generally quite open-minded about how other people can make money out of stuff - I've certainly got no ideas of my own so listen with interest to stuff like this.

[uber]

droopsnoot said:

Looks like we'll never know. He did say he'd passed the secret on to a couple of people then got too busy to call anyone else. I'm generally quite open-minded about how other people can make money out of stuff - I've certainly got no ideas of my own so listen with interest to stuff like this.

Exactly, at no point did I say this was some sort of business opportunity it was more to do with passing on some knowledge to a few people who could have done with some more spending money for Christmas. When I made the comment about giving someone £200 I seen it more as a token amount for someone who was not technical to get some really good help from people who know what they are doing. I did find it funny that a couple of people saying less than complimentary things sent me PM's.