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Ways for parents to make extra cash?

childrenclothes-featured-1024x576[1]When you buy a lottery ticket from a state or country lottery – you never expect to win, but you live in hope; obviously you do, or you wouldn’t have bought one unless you were coerced into it that is. And when you’ve bought one – do you ever let yourself dream about what you’d do with X million to blow?

Of course you do – everyone does this and this is the main fun in the whole thing. It certainly isn’t about the logic of the gamble itself; just 50%, as a general rule, comes back in cash prizes from lotteries, so they make no statistical sense whatsoever. Every time you spend a dollar / pound or euro, you’re giving half of it away according to the laws of probability – but the fun part comes in the dreaming right?

But we’ve all heard the weird and wonderful stats – like you’re more likely to be killed by lightning, or to get killed by an asteroid than you are to win the lottery’s main prize etc. And these stats are actually true.

So buying a lottery ticket is one way you just might get rich quick – but there are lots of others with far better chances, so here are a few.

The acca

If there’s a particular sport you love and know a bit about and you live in a country where gambling is legal – try a straightforward “acca” – short for accumulator bet. This is where your stake goes on the first football team or horse etc. (or maybe a mix of lots of sports) and if it’s successful, the winnings are reinvested on the next. Of course, you need them all to win – but it’s better than the lottery; so do your calculations before you bet on how much you want – and the stake required (this can be pennies). Just remember not to exceed the bookmakers’ pay-out limit as you’re taking a risk with no point then.

Bingo!

Bingo – seriously!?

Yes – we’re very serious. Online bingo is a competitive business and the biggest providers such as Costa, Winner and others have cumulative jackpots. These can run into life-changing amounts. And because the business is so competitive, the best sites also give away great intro bonuses for new players. So if you play online bingo at winner.com, for example, you’ll find you get £30 to play for just £5 down and you can pick pout those games with the potential for life-changing cumulative progressive jackpot wins. The same goes for online slots and online casinos with some providers.     The chances may be slim, but the stake is almost free. The jackpots are enormous and, well … why not have a go!?

Little company – big future?

For every stock market hopeful that has some kind of life-changing technology that comes good – there are always nine others that fall by the wayside it seems. Nevertheless, if you can pick out the right company that starts small – and its prospects come good, then you can multiply your money many times over.

The classic example cited is usually Microsoft. If you’d bought 100 shares at the $21 offer price back in 1986, you’d be worth just about a million dollars today. The next Microsoft is probably out there now – but which one is it?

Trading

Last but not least – how about trying your hand at trading? This could be in any listed market; there are hundreds to choose from. Two of the biggest and highest risk are futures trading and foreign exchange market trading.

A BIG word of warning here, though; most people lose money at this. In fact, it’s said that 90% of retail traders lose, so only try it with money you can afford to lose, read up all about your chosen market (there’s a wealth of information online but most people are simply trying to get you to buy into their system) and set very strict stop-losses to limit your exposure.

And finally … good luck!

 

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