If you are a winning sportsbettor do you consider that a passive income?

Iceman · Feb 16, 2007

The definiton most use for a passive income is when your money is working for you not you for it.

Would sportsbetting (if you are winning monthly) be lumped into this category or not because you are working for it, but everything involves a little time and effort.

A book I reading right now talks about getting as many streams of income or passive income added into your life and wonder if any of you guys consider this a passive income. I guess it would have to be but the risk of losing money may not make this qualify. When you think about it everything involves risk to some extent.

Just curious to hear some others takes on this?

Journeyman · Feb 16, 2007

pretty simple to me, money is money....you need to take a few shots in gambling, atleast that's how I look at it, sometimes a whole year may go by before it really pays off , when it does though it makes all the time and effort worthwhile....you need to have that kind of mindset though , and realize it will eventually come back....

Too many degenerates expect to lose...we see it on these forums all the time ''I'm playing with house money anyway" that is a crock and anyone who thinks that way will never get anywhere.

billsfan · Feb 16, 2007

Journeyman said:
pretty simple to me, money is money....you need to take a few shots in gambling, atleast that's how I look at it, sometimes a whole year may go by before it really pays off , when it does though it makes all the time and effort worthwhile....you need to have that kind of mindset though , and realize it will eventually come back....

Too many degenerates expect to lose...we see it on these forums all the time ''I'm playing with house money anyway" that is a crock and anyone who thinks that way will never get anywhere.[/quote

A+

steaktartar · Feb 16, 2007

betting...or whatever some folks call it gambling.........is like any other endeavor if it makes money do it.....lot of therapy with gambling and being close to point zero tho....if it was u do u better be + if u r small loser and love it equally enjoyable

Piranha · Feb 16, 2007

When I first started gambling I only thought of it as gambling but then the first 3 years I was losing so there was no income..........the last 5 years has been winning years but the first 2 winning years I did not think of it as anything but still gambling. The last 3 years with my winnings getting larger and my personal goal being reached each year now I think of it as more than gambling more like a supplemental yearly income..........but definitely not passive income because I have to work very hard for it.

Journeyman · Feb 16, 2007

At the very least one should look at losses as money they will eventually recoup.

betedgeonly · Feb 17, 2007

if your money is making u money while u r sleeping then it is passive. keep doing it. if not, then look at what it is that u r doing wrong and make the proper adjustments that will give u a passive income. but getting to that point will take some hard work! ha ha ha! i suggest u spend more time working on it rather than being on these forums all day u forum junky. in other words quit wasteing your time and buy the truck that will give u back a return for your investment. [inside joke ice].