Most bettors – especially new bettors – simply try to go too fast. And as many a lady will protest, usually things go better if you take them a little more slowly….
Easy does it... 
Lx
Sadly, your average online bettor wants it all now… the killer system, the hottest tipster, the inside track, and with them all, the “answer” to financial prayers. And when it doesn’t happen quickly enough (often after burning too much cash on systems and tipsters!), they curse the world of betting as if it were a den of vipers.. Which, incidentally, I don’t particularly believe it to be.
Of course, the good old bookmakers are an easy target! But are they to blame for unrealistic,unfulfilled expectations?
In my view, no rushed approach to any investment will ever work. It doesn’t work in the stock market, and we shouldn’t expect it to work on the turf either.
And yet the irony is, it’s never been easier to make money from betting.
The key idea, I have found, is the one that any newly qualified IFA will bore you with – namely that compounding interest will accelerate growth in an exponential way.
We all know this but often fail to put it into practice.
One way to do so is to break our annual growth targets down into monthly and weekly targets. So for instance, when I first took on the seemingly impossible task of turning £1000 into £2000 in twelve months, I realised that I had only to reach £1060 by the end of month 1, as only 6% per month growth will double your capital in a year.
This follows from the “rule of 72″, which states that any interest rate, divided into 72, will (more or less) yield an answer equal to the number of interest periods required to double your capital. 6 goes into 72 twelve times, so 12 months @ 6% per month should do it.
Which meant, for me, that turning £1000 into £2000 “only” required me to add £60 to my starting bank in month 1. Which in turn meant I had to make around £14 in week one.
That’s it. Fourteen pounds in a week. Say it again… slowly.
All you have to do to double your £1000 in a year, is turn it into £1014 in a week. Then keep repeating the dose… 1.4% growth a week.
Doesn’t sound so hard now, does it?
You can do this with a couple of simple arbs on Oddsportal, or a new account for your partner at William Hill …
…then trade off at Betfair, and bank that £14 without breaking sweat.
Now take the rest of the week off.
Bit easier than doubling your money on the stock market, don’t you think?
I intend real soon to launch a new capital building product to exploit the power of compounding. It’ll be called … (drum roll….) -
Rollingstone.
Stay tuned to find out more, or drop me a line by mailing lucylastik@laybackandgetrich.com to be kept right up to date.
I think you’re gonna love it.
Lx
Sounds interesting lucy will look forward to that. I like a good staking plan
Paul
Happy to keep you posted… aiming to launch in June.
Lx
Good advices…..
I think my problem (that I´m working to “kill”!) is to earn 1% in a single day and went next day with the 1% figure in my mind and with the sense that it´s easy to earn it and get 30% at the end of the month, and try to get more and more. At the end I get 30% less and get frustrated….
It´s all about discipline and you are responsible for this new way of thinking I have now.
Thanks
Hi Lucy, please keep me informed of Rollingstone, you have my email address, thx.
I totally agree. You have to have respect for money – all of it, whether it be a penny or a tenner. The other thing is patience and self discipline. People who succeed are consistent and thorough, they dont lose the head when they have a couple of lean days and they keep good records so they can manage their money and record their successes and failures. Betting often has this macho swashbuckling image but really I think it is the geeky people who do well – the ones who are reallly details minded. Truth be told I think in the future women will come into their own in this arena. They tend to be good money managers anyway.
Just a thought
Oh and I meant to say, could you include me in your “interested” list for rollingstone too.
Thanks.
Jane,
I couldn’t agree more with your remarks, and can think of little to add to them.
The traditional image of a punter is of someone trying to spot a fantastic longshot winner… which is a notoriously difficult thing to do well. It’s not just the research and skill involved that make this approach troublesome, but also the emotions that you inevitably go through on long losing streaks.
What I’d like to do with Rollingstone is move the focus from betting to investing, along the lines you describe…. so the types of behaviour that become appropriate are.. attention to detail…. due diligence… what you might even call a mundane approach. I have no intention of making betting fun with this product, but rather simply profitable.
I’ll keep you informed and thanks again for your comments.
Lucy x
Hi Lucy,
I’d appreciate it if you would keep me informed about the progress of Rollingstone. Sounds great. You are one of the few people with real integrity in this business, and I hope you can continue to give your time to the unenviable task of trying to educate novice punters like myself.
Best regards.
Douglas
Douglas
You can come here again… Thank you for the generous remarks!
I will keep you informed but I’m afraid it may take quite a bit longer than I originally thought. I’m actually drowning a bit wordsmithing my Pillars when I’m supposed to be having a holiday in Cyprus … I have a very understanding partner but …. Help!!!
Still, you put a smile on my face – thanks.
Lucy x