One new trade this week - LM025 - which is another ETC to try and take advantage of a potential rise in a commodity:
| Code | Sector | Date Bought | Cost | Value | Gain/Loss |
|---|---|---|---|---|---|
| LM009 LM009-2 |
Gas, Water & Multiutilities | 05/02/2019 04/02/2020 |
£2020 | £1910 | (5.82%) |
| LM012 LM012-2 |
Real Estate Investment Trusts | 20/05/2019 28/11/2019 |
£2030 | £2300 | 13.37% |
| LM023 | ETF | 19/05/2020 | £1020 | £990 | (2.54%) |
| LM024 LM024-2 |
ETC | 01/06/2020 23/06/2020 |
£2030 | £2100 | 3.81% |
| LM025 | ETC | 08/07/2020 | £1030 | £1040 | 1.36% |
The main way I've been making extra money over the past 4 or 5 years is by taking advantage of bookmaker and online casino bonuses.
It had been, up until around 2019, very lucrative but it is starting to fall off now.
There have been several changes behinds the scenes which have affected this money-maker. Increased scrutiny from the government and tax changes on the whole have massively reduced the number of bonuses on offer.
However, it's still something I pursue albeit on a much lower scale.
And having fewer offers available can make it frustrating.
One casino had an offer which gave daily free spins provided I wager £10. Most of the time this ebbed and flowed and pretty much broke even but every-so-often I would hit a decent win.
In 2019 I did this offer pretty much everyday when I could. I missed several days but did the vast majority. Total profit for the year was £460.
Funnily enough I got one big win of £465 in May and it turns out that this made up all of my profit, the rest of the year's efforts lost a fiver. So it's quite deflating to never really win anything but then you'll hit a big win which will make it all worthwhile.
Changes to the terms and conditions meant that I stopped doing this daily offer. But I keep an eye on my emails and jump on any offer which gives a decent bonus.
Plus I pay for membership to a website that lists any offers it can find which, according to simple maths, will be profitable in the long term.
I believe in the maths so I will continue to take advantage of gambling bonuses.
In 2019 it added up to £2,200 or so, 2018 it was about £7,000. I spent far more time in 2018 doing it but also there were far more offers then as well.
The way I see it if I can continue to get £2,000 per year from gambling and it doesn't take up too much time then I'm 50% of the way to maxing out my LISA without having to use any "day-to-day" money.
Halfway through 2020 and I've pretty much hit this target but it isn't unknown to have shocking month and give a lot of the profit back.
Like the LISA, I do a little bit of work/investment regularly and hope that over time it works in my favour.