My Friend the Poor Gambler

I have a friend who gambles, I have known him for 40 years and his habit has plagued him for all this time. He only tells people when he has won and keeps quite when he loses. 

Needless to say he is quite most of the the time and his winnings are in most cases are squandered on rounds of drinks celebrating. In effect there is no profit in his gambling business.

Most of his betting is done on horse betting and he takes tips from strangers in the main which is not a good business practice. this is not recommended as a way of making money of course. Just a warning here.

Doshforu

Helping you through the maze of money making

Lemonade Stands But Not Necessarily Lemonade

Making money takes many forms but in the main it is a simple concept of simply giving goods or service for a fee that bring you some profit out of it. This is how the money world goes round since time began and not much has changed throughout that time.

Usually the simplest business is the most effective and this is where this particular idea may well appeal to many, especially now the summer season is more or less in progress. Lemonade stands may sound rather American and old fashion, but over the decades it never fails to be a success. There are three reasons behind this.

1. In hot weather people want a cold refreshing drink
2. The outlay and stock of the business is cheap and with no real financial risk, (lemonade has a long shelf life)
3. You will always make a profit if you undercut retail/shop prices of goods

There are two important points to make the most of the potential profits, location and weather. You may think that summer is the only time this business can make money, but you'd be wrong. Hot beverages can be just as popular in the winter as cold drink in the summer.

The most convenience place to set up this type of business is at a local community fair, or sale if you can get permission or even as a mobile service is a tray can be made like those old fashioned popcorn and nut sellers in the cinema.

Having a variety of drink is also going to widen you market, coca cola is always going to be a popular choice for many but you may want to also have pepsi as well. Make sure the prices are slightly lower than the local shops sell them for and give a straw with each drink as a bonus.

With regular runs you will get to know your market and they will get to know you, don't forget to enjoy their drink, tell their friends and call again. Service with a smile makes a big difference as well.

Horse Racing Betting - Good Business?

Horse racing is said to be the sport of Kings and attracts the hierarchy of society at big meets, but it is also a sport for the pleb who might want to make a few bucks from betting. Although not my scene at all there are those in the know who make a good living from horse race betting.

The secret is all about information and form which takes time and effort. you can of course just get lucky but that is not a good business ethic. Experience and calculating betting is the only way to make a success of this form of money making enterprise in the long term.

I never gamble on horse racing betting for the simple reason that I don't know anything about horses. I know a bit about donkeys as I used to own one, but pure breed racehorses is not an area I am familiar with. Goodness knows how much money I would have lost if gambling on a sport I know nothing about - there are of course millions of others who also know nothing but still put on a horse racing bet often!

The Dosh for U advice here for horse race betting is simply not to bother betting at all unless you read up, study and know the true odds. It is only the select few who do this who make a decent living out of it.