Debt current stands @ £25,300 (Student Loan £8,000, Credit Card Loan £7,300, House Loan £10,000)
I’m always interested in making little bits of money.
Mrs Money Interest has recently started buying undervalued second hand children and baby items. She’s interested, knows the brands and spending time browsing to purchase for herself over since our little ones were born has given her a good knowledge of what things are worth. So her plan is identify the undervalued, purchase and sell on. It’s very early stages (3 items brought, 2 sold, profit of £30) but I’m proud of her for her enthusiasm, and for making a little bit of money.
So I wanted to do the same. What interests me? What knowledge do I have that could help me earn? Ideally what can I add value too?
Now I haven’t got the answer I was looking for YET but I have stumbled across a relatively low risk way of earning small amounts of money through a relatively small amount of avenues.
Quidco. A great cashback service through which you can earn money on items/services you purchase if first clicking through via the Quidco website.
Gambling. The industry I work in.
I’ve noticed that many gambling operators, so keen to bring in new customers, often offer incentives higher than I expected – often more than the minimum deposit requirement.
Really this is because, and the data re-enforces this view, once a customer has created an account and deposited their hard earned cash they are likely to continue depositing/betting with them. Although not as sticky as a bank account or insurance company I’m sure the same rationale applies; inertia. It is easy to keep doing what you doing (betting with a company) than starting again (registering and depositing with a new company).
So if you are prudent there is money to be made by registering and depositing with multiple betting companies and receiving this cashback.
Let me give you an example – this is actually the only offer I have taken up so far.
Lottoland.co.uk have an offer via Quidco which is ‘deposit and bet £2 and we will pay you £10 cashback’.
This is a return of 500%. It is sadly also a far higher % than any of the others I have identified.
So what have I done?
I have created a simple excel sheet to track the progress of this and any further deals I take advantage of, noting the below (brackets are my Lottoland.co.uk actuals)
- The deal (deposit £2, cashback £10)
- The date I registered (11.11.15)
- My log in details (J)
- Date I deposited (11.11.15)
- Date I placed a qualifying bet (11.11.15)
- Date that bet settled (13.11.15)
- Date Quidco tracked my purchase (12.11.15)
- Date Cashback Paid (tbc)
Risks
- Potentially the cashback might not track or be paid… I have not had this happen before using Quidco but I am sure it is a risk
- Not meeting the cashback criteria… some will have specific criteria to meet so must read the T+C carefully before spending any cash
Scope
- Via Quidco and Topcashback.co.uk I have found 21 offers where cashback is greater than deposit. Total outlay required for all would equal £449 – return could be £687.52
- There will be other, probably more, deals where you receive the same cashback as you are required to deposit. This scenario gives you the chance for a free bet and potential winnings, but I’m not pursuing this yet.
These are the deals I have identified (in order of % ROI)…
Lottoland (deposit 2 and get 10 cashback)
Sun Bingo 10/26.25
Charity Bingo 5/11.02
Clover Bingo 5/10.50
Vernons Bingo 5/10.50
Fabulous Bingo 10/20
888 Poker 80/150
Casinocom 50/78.75
Mansion 50/78.75
NetBet Sports 20/30
Bright Bingo 10/15
BGO Bingo 20/26.50
Dream Bingo 20/26.50
Roxy Palace 20/26.50
Slotster 20/26.50
Winner Casino 20/26
Cupcake Bingo 37/45
Mecca Bingo 10/12
Super Casino 10/11.50
Lucky 247 20/21
I will update as to my progress and hopefully make a little extra to put towards paying off my debt.
Other ideas I have which I’ll talk about in the future are an app around watching better films and selling cheese on toast.
Thanks
Mr Money Interest
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