Making money from stoozing

Sad_Dad

adindas wrote: »

Do you want to share your experience how you make +£100 a day risk free ??

I understand you are doing matched betting. From the name betting vs Stoozing, they are two different things are not they ??

To do it successfully you need to know what you are doing, this takes time to learn. Mistakes can be costly so in that and other respects it is not risk free. I described it as risk free because to me it is as I have been in profit every month for the past 3 years but that might not be the case for other people.

You also need a large 'bank' to make bets and lay them off on a betting exchange, this is where my stooze pot was handy.

The information is available on various MB websites.

I know someone who gave up their job to do it full time but it's difficult to earn a living for a sustained length of time.

ChristmasTortoise

Do you have any tips on how to do this Sad_Dad? I know the basic MB but not so fluent on accas and horsey things. Time is also at a premium with a little babe and 2 other bigger ones but could really do with the extra dosh. Got a pot of about £2k already from MB and casino.

kimwp

Humph, I can't find any zero fee money transfer cards. The one I thought I found turned out to be wrongly badged when I spoke to an advisor and is actually a zero fee balance transfer card.

Fingerbobs

kimwp wrote: »

Humph, I can't find any zero fee money transfer cards. The one I thought I found turned out to be wrongly badged when I spoke to an advisor and is actually a zero fee balance transfer card.

Halifax Clarity is the only one I'm aware of.

The_Urbanite

adindas wrote: »

I have never heard someone in this forum ever claim to be able to get £100+ a day with stoozing. Mind to explain how did you that ??

You won't get that kind of money from putting it into savings accounts. The idea is that you use the same methods to liquidate the credit limit from 0% cards then use those funds as a float for more profitable arbitrage activities instead of lending it to banks.

adindas

The_Urbanite wrote: »

You won't get that kind of money from putting it into savings accounts. The idea is that you use the same methods to liquidate the credit limit from 0% cards then use those funds as a float for more profitable arbitrage activities instead of lending it to banks.

Yes. that is it an expected answer.
But I understand Stoozing is supposed to be "risk free", is it not ?

If you are using it to fund P2P (say). It is supposed to be called using stoozed money to fund P&P. P&P is just one example. Gambling, betting is another example. Put your money into a very low risk fund? It will not work, as fund is only low risk for a long term, while the risk free stoozed money is only available for short term.

If you want to take part on that games you could always do that even without stoozed money. Stoozed money will just give you a leverage so you could play with a larger figure. But it does not help in mitigating the risk.

Have a look the case with LCF (London capital and Finance). Just think of those people who had stoozed money in there. In this instances, they might already fall into the debt trap.

The_Urbanite

adindas wrote: »

Yes. that is it an expected answer.
But I understand Stoozing is supposed to be "risk free", is it not ?

If you are using it to fund P2P (say). It is supposed to be called using stoozed money to fund P&P. P&P is just one example. Gambling, betting is another example. Put your money into a very low risk fund? It will not work, as fund is only low risk for a long term, while the risk free stoozed money is only available for short term.

If you want to take part on that games you could always do that even without stoozed money. Stoozed money will just give you a leverage so you could play with a larger figure. But it does not help in mitigating the risk.

Have a look the case with LCF (London capital and Finance). Just think of those people who had stoozed money in there. In this instances, they might already fall into the debt trap.

There's no easy way in this world to make money. Easy methods which are safe have a poor return. Gambling and dumping it into risky funds can be done by anyone without any knowledge which carries a risk of loss. To get a decent, safe return requires either a heavy time commitment or investment in knowledge/skills which allow money to be generated with little extra effort.

What you've listed are all risky activities which aren't arbitrages and I wouldn't advocate any of them.

adindas

The_Urbanite wrote: »

There's no easy way in this world to make money. Easy methods which are safe have a poor return. Gambling and dumping it into risky funds can be done by anyone without any knowledge which carries a risk of loss. To get a decent, safe return requires either a heavy time commitment or investment in knowledge/skills which allow money to be generated with little extra effort.

What you've listed are all risky activities which aren't arbitrages and I wouldn't advocate any of them.

I understand arbitrage is taking advantage of price asymmetrical of the same product at two or more different markets at the same time.

You probably want to share your experience about arbitrage ?
How to easily spot / find the price differences of the same product at two or more different markets at the same time? Which Platform, site to use ??

The_Urbanite

adindas wrote: »

I understand arbitrage is taking advantage of price asymmetrical of the same product at two or more different markets at the same time.

You probably want to share your experience about arbitrage ?
How to easily spot / find the price differences of the same product at two or more different markets at the same time? Which Platform, site to use ??

There are many types of arbitrage out there - the best way I find is to research them online and chose the route(s) that work for you.

schiff

I've unearthed a possibility that I've not seen mentioned on here. It's the RBoS Savings Builder account, paying 1.5% up to £10K. The main condition: if the balance increases by £50 per month, you get the interest, no interest for that month if it doesn't.

I've got a 0%/0% stooz due to be repaid in October 2021. I count the number of months to repayment, multiply that by £50, deduct that from the debt and deposit the resulting figure into the RBoS account at the outset. Set up a SO to pay £50 pm into it every month till October 2021.

So for the duration of the stooz I get 1.5% on 84% of the debt plus a bit more on each subsequent £50 deposit.

The fly in the ointment is that the interest rate is variable