Everyone wants to be a millionaire and while many of us work hard to get where we are today, there are many would look for a easy route to big money. Fortunately, there are ways to get to lots of money quickly but they involve plenty of risk that could see you lose it all. Here are some of my favourite high risk ventures for making money.
Whether it is sports betting, poker or casino games such as Blackjack or roulette everyone is aware of how much can be made from gambling. Take for instance UK resident John O., who is a member of online bingo site https://www.butlersbingo.com/, John turned a 30p spin on the online slot game The Dark Knight into more than £5.8m!
For each massive success there are plenty of people who lose all of their bankroll with one false move. For example, in soccer, English Premier League leaders Chelsea were beaten by lowly Aston Villa last weekend. Upsets like these can cost people looking to make big money from gambling in a way. Others lose it by foolishly chasing losses, but for a patient person with good bankroll management skills as well as an ability to pick winners or win at poker, then there is certainly a chance of winning big by gambling.
The buying and selling of stocks, options and currencies as well as futures within the same business day is covered by the blanket term of day trading. This form of trading has, with the advent of electronic trading, become increasingly easier for individuals to trade rather than it being the preserve of financial firms and professionals.
There are many different strategies to use when day trading, such as trend following where if a stock has been rising then you expect it to continue to do so, contrarian investing where once a stock starts to lose value you buy low expecting the trend to change and make you money and scalping where the day trader exploits gaps in the bidding and asking prices before selling on again to make money. There are many other methods of day trading and if they go well for you there is a great chance of making large money, but if you get it wrong the risk is high that you can lose massive amounts of money and end up bankrupt.
Start Your Own Business
If you spot a gap in the market for a product or service that people need, or more importantly want and are willing to pay for, then take it! Run with the idea and start your own business and if your idea is as good as you believe it to be then you’ll certainly make your money in a short space of time.
The risk part involves the putting the money together to start the venture and it is possible to lose more than you put into the business if your idea is not as good as you expected and you go bankrupt. But do you want to start out in a city? Or perhaps have a rural office building? There are many forces at work which can affect this decision.
Although used to great effect, at least to begin with, by Homer Simpsons of The Simpsons fame with his AT-500 telemarketing machine that dialed up the residents of Springfield to ask them to send him one dollar to achieve happiness, telemarketing is in fact illegal.
Should you get the idea to make your money by contacting people and asking them to send you money the risk is high that the FBI will be knocking on your door any day!