To date, the primary source of investing I have done with my investment account money is stock. Once the account balance hits $1,000 I put $500 into my Ameritrade account.
Right now I have $1,217 to invest. $500 will most likely go to stock soon, but I have $217 to play around with. I’ve previously used extra money like this to buy business clothing, but I want to do something different this time.
Gambling to me is not only entertainment, it can be a form of investing. Some friends of mine constantly play online poker for entertainment (and of course to make money) and they make decent returns every once in a while, but online poker is extremely time consuming. Online sports betting was brought to my attention by The Alpha Guy.
I don’t know much about sports, but after doing some research I found you can place relatively safe bets that turn small profits. If played out right with no emotion involved, this could possibly churn out some small profits here and there with very little time and research involved. The high stakes gambling can be left for trips to Vegas :)
Obviously there are risks, but what doesn’t have risks? Even if I lose this $217, I will consider it a $217 class on statistics, odds and risk management. Hey, that’s cheaper than taking a statistics course in college!