5 STEPS TO MAKING MONEY

Making money means taking risks. We often look at risk as odds, or bets. We bet that if we buy 1000 widgets at $2 each we can sell them for $8 each. Another method of betting is simply betting. Generally this will be small potato kind of stuff like, “I bet the Detroit Lions have their worst season ever,” with your buddy at the bar for maybe $20. Money Blog proposes that these bets can actually generate significant revenue for you.
Here are the steps.
1. Get a nice Notebook. The Moleskine notebook is handsome, compact, and is perfect.
2. Track all your bets, no matter how small. You need to keep track of every bet you make, because you need to begin to build a reputation as a bettor. This notebook is only for tacking bets you make. You list the date, your position, your opponents name, and the amount. When the bet is paid (either by you or them) you cross it out with a single line and put either a plus or a minus at the end of the line.
It looks like this:
7/28 Detroit Lions worst season – C.Merrill $20.00
Then, when the bet is paid it looks like this:
7/28 Detroit Lions worst season – C.Merrill $20.00 +
3. Analyze what happened. Tally your winnings from each page. Simply add up any pluses and subtract where you put a minus. Sometimes you will lose, and that’s okay, the important thing is to keep playing and learn from your mistakes. Are you always losing at football bets? Then stop making them, or make them with different people.
4. Step it up. Start increasing the size of your bets over time. After a year of betting regularly, you should be making any random bet for at least $20, and you should be making about five bets a week. You should also make some big bets. People are more comfortable with big bets if the payout is far away, so bet people on whole seasons of sport, or the sex of their baby, or when a politician will get elected or recalled or whatever.
5. Keep it all in that nice Notebook. That is the key. People forget bets, and then they don’t collect. Your advantage is that you keep records and that is how you’ll build a reputation and make money. The house always wins.