GRcade

In a bid to banish the credit crunch blues, I'm trying to come up with a simple, hassle-free way to make some quick cash. What could be simpler? I figure that if the cream of GRcade throw the full weight of their intellect into this one, we could all be oligarch style billionaires, complete with our own premiership football clubs by this time next year.

So anyway, I came up with lay betting UK horse races. I reckon the third favourite horse hardly ever wins, so if you just keep laying the third favourite up until you make your target for the day you'll be quids in. Maybe there are some statisticians amongst you who can tell me I'm being wildly optimistic, but I am seriously tempted to give this one a try, quit the job and just become a pro gambler. Layer. Whatever.

Could this work? And if not, anyone got any other good scams that'll keep me in White Russians and Showbiz Sherbet?

Invest in Nintendo in the run up to Christmas

Don't mention the N word to me, I hate those scoundrels.

That's the stupidest plan I've ever heard.

They lay betting one? Why? I checked the Will Hill results page (a random sample, hardly scientific) and it seemed the third fave hardly ever comes in. If you bet on every race you might not make any dosh (although you might), but if you limit yourself to making a certain sum a day, so betting on say three or five winning races, I reckon you could easily turn a profit.

?????
Profit

It's incredibly hard to consistently make money from "true" gambling (i.e betting on sports outcomes and casino games rather than poker) and I would be surprised if you could make a substantial profit quickly.

You sorta had the idea in your first post mate.

Everyones gonna be getting down and worried about the credit crunch/recession, so think of a way to scam people who are vulnerable in a hard time because of the recession.

I'm up for some get rich quick schemes. I need the monies to fund El Boat of Goat.

Yeah, but what I'm suggesting is basically a low level version of what the established bookmakers already do. If they can make a profit out of it, why not me? I'm not betting on a horse to win, I'm betting on it to lose. And most of the time it will lose. You just need to make sure that your covered for the rare occasions when the horse you back to lose actually wins. More than doable, I think.

Blimey Bobby, that sounds a bit harsh, I'm thinking of some victimless crime, or maybe some scam that we can pull off against a faceless corporation. I'm not talking about offering to tarmac an old lady's drive! Fast money, but with ethics baby. You know my steez.

If it was an easy way to make money, they wouldn't allow it.

There's a very specific reason why the only people winning big on betting are the bookies.

You boys are too suspicious. What I'm talking about, lay betting, you do it through a betting exchange, which provides you the opportunity to offer odds which fellow punters can take. The exchange makes it dough by taking a small commission from the profit you turn from each event (5 percent or less). If you start making big money, they're not going to close you down, they're going to be delighted - you're making them money!

Become a male ho

Spike, there seems to be a discrepancy between your signature and your advice. But don't think I haven't considered it.

Promise people happiness for £1

Setup a simple website with a paypal button.

They pay £1, you send them happiness.

It can't fail!!!!

Happiness can take on many forms, but it's the personal touch that's worth the money.

Herb wrote:Invest in Nintendo in the run up to Christmas

Only invest in stuff when the share price is low. The gamecube years would have been a great time to invest in Nintendo.

pretentious moi wrote:You boys are too suspicious. What I'm talking about, lay betting, you do it through a betting exchange, which provides you the opportunity to offer odds which fellow punters can take. The exchange makes it dough by taking a small commission from the profit you turn from each event (5 percent or less). If you start making big money, they're not going to close you down, they're going to be delighted - you're making them money!

However, all betting is stacked so that the instances of losing are always going to have greater impact than the instances of winning.

yeah, course they are, otherwise where's the incentive to bet?! I've factored that in mate, I know that sometimes the third fave will win, but I reckon that you'll still be able to make money if you're patient (for instance, there will be days when the third fave wins the first race, and you're playing catch up straight away - but the third fave seems to win so infrequently that if you stick to the plan and just keep backing thirds over the course of the day, you can still make your dough).

This is all unproven, I'm sure it can't be as simple as I'm making it sound, but I don't think any of the objections so far have definitively proven this idea wouldn't work!

Herb wrote:Invest in Nintendo in the run up to Christmas

You could be on to something here. I suggest everyone buys lots of Nintendo Wii's (I suspect that an apostrophe shouldn't go there but it looks silly without it) in the following weeks. Then come December when demand is most likely going to be high again you can make a small fortune.