There are many ways to make money on line and some of them have a higher financial risk than others. Recently our whole way of life has been rocked by immense financial earthquakes that have in part been fall out from huge financial bets that have been wagered. If the people responsible had been gambling with their own funds it is highly likely that the bets would not have been placed.
How then does small scale betting on sports and horses compare with the financial bets that have shaken our economies to their roots. They are usually done with money that does not affect your life if you were to lose. I say usually because some addictive people gamble with money that has affected their families when they lose. This is to be avoided!
Sports betting, horse racing and poker give the participants an adrenalin rush and for many that is why they are in it. It is unpredictable so I recommend that you make yourself aware of what it is you are getting into.
There are often incentives to become involved in both which usually (in sports betting) involves GBP10 or even GBP100 in the account. This of course does not mean that you can open an account and withdraw the incentive! It usually will cover initial “loses” as you understand what you are getting into.
On the other side, speculating in the financial markets, is as unpredictable as sports wagers and the amounts gambled are often far greater. When Nick Leeson lost a huge amount of money the world was shocked. Little did they know what was just over the horizon with banks losing billions as the sub-prime debacle hit the markets.
Financial markets are not allowed to provide cash incentives to enter the market but they do provide simulations to practice on. In the sports and gambling scene organisations quite often provide simulations in Poker and games where decision making is a key part of the activity. Obviously it would be impossible to do this for horseracing or sports as the variables would be difficult to simulate.
An insight into both of these areas can be gained by doing a little research. There are many books and products available to help you understand what you are dealing with. I would strongly advise you to do this research before any hard earned money is risked in either the sports betting or financial markets. You might get lucky but it is far better to do your homework.
There is no magic solution the challenge and I doubt that systems exist to ensure that you always win. For every winner there will be people who have not understood the odds and find themselves out of pocket.
In conclusion if you want to speculate on either the financial or game markets there is little to choose between them in terms of predictability. Both have inherent risks and in both you are well advised to start slow and build up.
One bit of advice is “only play with funds you can afford to lose” and I would suggest that you set a limit. as with anything experience is a good learning tool and in the words od Samual Beckett “Ever tried. Ever failed. No matter. Try again. Fail again. Fail better.”
Treat it like any other business venture and if you make losses beyong your agreed level…..STOP!
Or go down a more conventional route and find a regular job