I had to get some admin out the way so I could start taking the first steps to make money, one of which was I wanted a new account to run this all from. One of the mobile based app accounts fits the bill perfectly and I already have a Monzo so Starling was an easy choice.
Transferred over the starting capital of £10 and we are good to go. In fact I’m good to gone, which although doesn’t make any sense, is just because I actually finished my first step today. Of the first steps to make money I’d been considering I took one of the more aggressive openings in a casino offer with an expected value of +£8.50. A pretty healthy expected return for its risk profile and the time it takes but there is a chance that the next balance update is less than where we started. Despite sounding slightly risky this was a comfort pick for me. Casino and bookmaker offers (or matched betting as its often know) are something I have a lot of experience with. Over a 2 to 3 year period I made close to £50,000 from them, £49,518.05 to be precise! Agonisingly close to the £50k mark, you would have thought Id find something to make the last £500. I also made somewhere in the £5000-£10,000 range for family and friends which is always nice.
The problem is the offers which allow this to be profitable are both rarer these days and a large number are purely ‘New account’ bonuses so its a finite resource. That period of profiting from those offers is what inspired me to give this ago. There are so many potential revenue streams out there, and the best thing, just like with Matched Betting 5 years ago, I won’t know a lot of them even exist.
Anyway I’ve still got a few sports and casino offers available to me. So that will be a nice way for me to take the first steps to making money in a sector.
All will be revealed in a post tomorrow. s its not risk free, here’s to hoping that its not titled ‘The first step is backwards’.
