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What to do with €500

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Comments

  • #32
    tonyheaney
    Closed Accounts Posts: 1,686 ✭✭✭tonyheaney


    jogdish wrote: »
    Hi,
    I will be taking a part time temp job, and will end up earning approx €500. I already have a day job and this is just a once off thing. I have zero debts, and don't feel like buying more crap for myself.

    So I have €500 in my hand and I would like to make it work for me - already have a savings/investments accounts, but the interest is depressing. What should I do with my modest amount of one off extra income ?

    some helpful hints:

    1. get a gf/hoker/escort and have500 of fun
    2. donate it to a charaty?
    3. buy my desktop ill seel it to you for 500 quid


  • #33
    alb
    Registered Users, Registered Users 2 Posts: 1,259 ✭✭✭alb


    lanos wrote: »
    Pyramid scheme in my opinion
    Not a pyramid scheme in your opinion
    We'll leave it there

    Not an opinion, it's a fact.
    A pyramid scheme is an often illegal, unsustainable business model that lures members via a promise of payments or services for enrolling others into the scheme, rather than supplying any real investment or sale of products or services to the public.

    Bitcoin has no central operator, and makes no promise of payments or services. It also is not technically an investment beyond being a speculative decentralised money, like gold.

    Sorry I don't want to derail the thread, but as a bitcoin enthusiast I try to refute FUD about bitcoin.


  • #34
    shamrock55
    Registered Users, Registered Users 2 Posts: 7,296 ✭✭✭shamrock55


    Go to an online bookie and put your 500 on odds of 1.01 it pretty much guaranteed you will win a fiver per bet, you can easily make 100euro a day, you will lose at some stage though but if you can get through a wk you will have 500 back anyway


  • #35
    lanos
    Closed Accounts Posts: 600 ✭✭✭lanos


    alb wrote: »
    Not an opinion, it's a fact.



    Bitcoin has no central operator, and makes no promise of payments or services. It also is not technically an investment beyond being a speculative decentralised money, like gold.

    Sorry I don't want to derail the thread, but as a bitcoin enthusiast I try to refute FUD about bitcoin.

    The early bitcoin miners are sitting on vast reserves of bit coin.
    They mined easily when the algorithm yielded easy returns.
    Now even with huge computing power, the returns are paltry.
    Mining aside, it's like a pyramid scheme in so far as the early entrants make a fortune from the new entrants.
    Furthermore, it's a bubble asset.


  • #36
    ronanc1000
    Registered Users, Registered Users 2 Posts: 818 ✭✭✭ronanc1000


    Stick it in a Credit Union, start a weekly direct debit of a small amount to add to the 500 each week or whatever you can afford, and come back to it next November. That's what I'm doing, you'd be surprised what you'll have come November/December 16 or so.


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  • #37
    peege
    Registered Users, Registered Users 2 Posts: 70 ✭✭peege


    Throw it on Celtic to win the SPL!!! You will come out a lot better than any interest you would gain in a year!


  • #38
    el diablo
    Registered Users, Registered Users 2 Posts: 5,782 ✭✭✭el diablo


    peege wrote: »
    Throw it on Celtic to win the SPL!!! You will come out a lot better than any interest you would gain in a year!

    This is a very bad idea. They are 1/20 and only three points ahead of Aberdeen. I would advice you stay stay from betting shops/websites as you will lose everything you have.

    Orange pilled.



  • #39
    Arbitrary
    Registered Users, Registered Users 2 Posts: 532 ✭✭✭Arbitrary


    shamrock55 wrote: »
    Go to an online bookie and put your 500 on odds of 1.01 it pretty much guaranteed you will win a fiver per bet, you can easily make 100euro a day, you will lose at some stage though but if you can get through a wk you will have 500 back anyway
    peege wrote: »
    Throw it on Celtic to win the SPL!!! You will come out a lot better than any interest you would gain in a year!

    Not sure if serious or joking? Ignore this advice OP, never bet large amounts (relative to your investment capital) on such short odds.


  • #40
    650Ginge
    Registered Users, Registered Users 2 Posts: 900 ✭✭✭650Ginge


    Arbitrary wrote: »
    Not sure if serious or joking? Ignore this advice OP, never bet large amounts (relative to your investment capital) on such short odds.

    You could do arbitrage bets.

    Or matched betting. You will make money so long as you don't make an error.

    Some time and effort required though.


  • #41
    Arbitrary
    Registered Users, Registered Users 2 Posts: 532 ✭✭✭Arbitrary


    650Ginge wrote: »
    You could do arbitrage bets.

    Or matched betting. You will make money so long as you don't make an error.

    Some time and effort required though.

    Almost all bookies are using a piece of controversial software that's quietly downloaded on to your machine, it's called iesnare.

    From this they can detect anybody trying arbitrage. If you're going to go the arbitrage route you have to painstakingly ensure you cover up all your tracks, honestly for the time it would require and for the return, I just don't think it's worth it.

    Beating a bookie is all about exploiting incorrectly priced markets. Not backing super short odds or arbitrage, both of the latter aren't long term viable options. Watch how quickly your accounts get closed down once you place a few arb bets. All arbitrage spots that are freely advertised online are closely monitored.

    If you're going to down the gambling route, I'd suggest signing up to the betting emporium and follow Brodder's tips, they're currently free this month and he's excellent at spotting value in the Portuguese segunda division.

    97% of punters lose long term and those who win generally eek out tiny edges. I'd put the money into a savings account and leave it as a rainy day fund.


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