Topic: Do you think you could turn $1k bankroll to $10k in a year? - page 6. (Read 1651 times)

If you calculate mathematically: then the amount of 1.0 can be increased to 10.0 if you increase your deposit through winnings by 1.21 times (21 percent) every month. Then, according to the law of compound interest, after 12 months the amount of the initial deposit will be multiplied by ten. Since in casinos and bets money is not added but multiplied, then this is possible, with a certain amount of luck. Nevertheless, multiplying the deposit by ten times sounds fantastic in terms of profitability. Any thoughts on which casino game you would do this in?

Gambling should be for entertainment Gambling should not be for making money. Always gamble with the ability to lose, never gamble with a high desire to win. Here it is difficult and difficult to convert $1000 to $10000 which is not sure if 5% people will be able to do it because gambling money is guaranteed to lose but there is no guarantee to win. Gambling should be done for entertainment and not for making money. I have seen many people who chose gambling as a means of earning money suffered so much in their life that they could not live well in later life due to this loss. Such difficult equations should not be gambled at all.

I agree with you, but there are also some people who are able to multiply money in gambling to thousands or tens and hundreds of thousands of dollars in some long term but only few people can do it either professional or people who do have very good luck, the percentage is 1% of all gamblers.
For most gamblers like us it is impossible to get it, luck can be very helpful but we also only bet in small amounts so the winnings will not be that big, it is better to never expect something big in gambling because it is beyond the capabilities of gamblers in general.

That’s definitely the most accurate description of gambling - it’s not investing. However, if you have the skills in sports betting, some people refer to it as sports investing, where their bankroll is considered their capital. The definition you provided about gambling applies to the majority, but that 1% of sports bettors might disagree because they’ve proven it can be an investment for them.

https://www.docsports.com/service/investing.html

To be frank, I don't think I could. I've just taken a look at my settled bets and I realized I don't even have a winning streak recently. Well, that's obvious because of how low my wallet balance is right now.

For some reasons, I've also taken interest once again in bundling together matches with significantly low odds into a parlay. That isn't profitable either. Even a bet with odds as low as 1.01 can't be trusted. That may look like a sure win but it isn't in reality. It could cause and entire parlay to crumble down.

Well, this is gambling. Turning $1,000 into $10,000 is investing. And gambling isn't investing.

You are asking for a “could” which is obviously there’s a possibility since the goal is just x12 of the original amount while some people manage to grow their bankroll x1000 times or more with just one lucky parlay on sportsbet or max win on slot games.

I can complete this challenge but of course with many try but since the question is just the possibility to complete this then the simple answer is yes. Anyone can complete this but there’s no guarantee since it’s a luck based.

There is also a pretty good probability of turning that $1k into $0 in few days. Gambling is indeed one bumpy ride and if you don’t fasten your seatbelt, you could be easily thrown off. First of all, the gambler needs to accept the fact that there’s every chances of losing that $1k, perhaps this would help him in developing an effective approach, because a gambler’s perspective of gambling has the potential to influence his attitude towards it. Well, the reality remains that there’s no guarantee of turning $1k int $10k in a year, while it’s actually possible, it’s still not guaranteed.

I believe one can easily 10x his/her bankroll of one thousand dollars by trading Bitcoin and other crypto alt coins if he/she is good at trading or investing but I still doubt that it's going to be a possible thing for someone who's only considering to 10x his/her bankroll by betting. In gambling someone's luck plays a very important role and if someone isn't lucky then he/she may end up losing everything instead of winning anything.

That's the most common problem of gamblers is how they manage their risk toward this certain aspects about gambling. Sustainability is one of a key point to achieve those goals of reaching 10k in a year which is barely too hard to obtain by playing using your bankroll on that very small specific amount. But, that's not impossible for all players who's dedicated enough to face that bumpy ride on gambling unknown probabilities.

It is not really possible, scammers like to claim they can obtain massive profits while gambling to attract unsuspecting players and get their money, but the few successful professional gamblers out there claim they can make something between 40% to 70% of their bankroll on average in a single year, and as you can see this is many times lower than what you may want to achieve, still that amount if compounded over the years can make someone rich if they can keep those gains and they are smart about not blowing that money on stuff they do not need.

There is no harm in trying; it should just be focusing on enjoying the game with minimal risk management. reducing the chances of losing by going for low-odd games and making sure that you don't chase the winning too much and not trying to meet the target real quick. There is no guarantee that the $10,000 target within that 12 months can be reached, but there is also a high chance of that happening if the gambler is careful enough.

Actually trying it up to have that kind of approach about being an investment then it is really that wrong. On the moment that you do touch up gambling or betting then its just really that not right that you will be thinking up
that this is some sort of investment because on the moment that you will really be having this kind of approach then it will really be just that bringing out that kind of disappointment on which we know that on how gambling or betting works then it is something that will really be still mostly be dependent on luck.

Basing up on the numbers you have given above then this could really be able to say that it is really that indeed possible on hitting up thousands of dollars in a months period but we do all know that luck factor will really be always them main consideration when it comes to this on which we know that when it comes to this aspect on where it cant really be that determined on how  lucky you would be along the way.
Therefore, results or outcomes isnt something that would really be that the same to each person on the moment that they would really be touching up this space.

It will really be that important that when you do make some betting on sports then consider out those amounts to be lost completely because once you do touch up gambling then
those funds are already considered lost not unless if you are really that extremely lucky along the way.

I have turned $800 into $8000 in a matter of four month, another using $400 to make $3500, but definitely not with gambling, because the way you wrote this up makes the whole thing look like an investment but it is not, this is not even trading where you can slowly raise your $10 into $1000 in a month, there is no stop loss advantages in gambling, you predict wrongly you lose your money.

You will likely end up frustrated if you believe that you can slowly tur. $1k into $10k in gambling, things are too uncertain with gambling, you should never have your mind set on such goals, instead use gambling as your fun place and risk only what you can afford to lose, there is no way you will know when you will win.

It is more like torture if you plan to use gambling to raise up your bankroll, I am certain that you aren't ready to lose the money anywsay, thats why you will panic and make the wrong choices.

I can make this easy, easy to lose them all. 
If someone is going to claim that they can do that, I won't be doubting those gamblers that have the full confidence of telling that. Especially, those full time and professional gamblers. They can do this with sports betting and they don't need the entire year to make it 10x. But the risk will be at the highest before they're able to make it. If they're going to make money from the sports that they can analyze and good with, the possibility is there. I guess not everyone have the confidence to say that they can even if they might able to do it.

Not gonna lie that it's really hard to get and reach these goals with a fixed amount. And it's giving pressure to the gambler that has this challenge but if someone choses to and able to prove himself, then that's something to be boastful about. But again, the majority speaks for ourselves that even we've been gambling for so long, hitting such numbers and goals isn't our priority. I think everyone learned their lessons about as long as we're in profit, that's already our target and not with some fixed amount with term goals.

Exactly, if it's easy to be done then we might see more casino house being close but we do see the other side, there are lots of new casinos that being open and offers services, meaning to say that lots of gamblers are losing money, though in terms of possibilities we might see that it can happen as there are experienced gamblers who can control and manage their finances very well.

There are only 2 possibilities, Yes and No obviously LOL.
It is possible if we have the luck throughout the year, not only make 10k but it can be more if our luck is superb, we may win 10k just in few minutes as well.
On the opposite side, we may lose our initial bankroll just within few weeks days or even hours if our luck is bad and our money management is bad.
The other factor is about which gambling game we play, casino games or sports betting because it may affect our plan as well.

OP, I believe turning $1k to $10k within a space of 12 months is achievable. The first step to achieving that for me would be to resist that frequent urge to place bets. I would take my time and be selective of games to place bets on so as to increase the odds in my favour. No hurry or hastiness of any kind.

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Sports, of whatever specialty, are highly monetized. There's a lot that goes on there that naked eyes may find illusive to pickup immediately. We've heard and seen cases of match-fixing in sports where confessions are made to that effect. So, your suspicion is in order. It's not for fun that betting companies spend heavily on sports for sponsorship deals.

It's hard to argue with that. Due to fluctuations, let's say a couple of people out of 100 will be able to make a tenfold increase in their deposit in a year, but if you calculate the profit of these lucky ones and the losses of those who couldn't, then bookmakers will still be in the black. And it is obvious that these lucky ones will not be able to repeat their success next year, since these are only fluctuations and there is no working way to multiply your money tenfold in betting.

Yes, it is theoretically possible to increase your bankroll from $1,000 to $10,000.

To do this, you first need to double it to $2,000, then double it to $4,000, then double it to $8,000, and in the next iteration you will get the coveted $10,000-plus. That is, you will need to double your initial bet 4 times.

However, you will most likely lose periodically, so it makes sense to risk not $1,000, but half that amount ($500). This will require more bets from you, and you will still need to be very meticulous in assessing the probabilities of winning and losing.

Of course, in order to succeed, you will need to have a good understanding of the realities of sports. It also assumes that you have a lot of free time and excellent analytical skills.

If you are looking for fair games to play, then you will have to stick to sport bets because anything that makes you to go out of sport bets, you could be surprised that it's not going to be easy for you trying 1k to 10k. This is a difference of 10X and it will require you to keep betting without much loses and not not be too greedy for you to hit 10X or more. A disciplined gambler can hit this within the interval of 6 months or less depending on the risk level taking to achieve this. Many gamblers can achieve this without a month but the problem is how long can they sustain the winning. Because of too much risk taken while gambling, many tend to lose their profits to the casino because of they don't work with risk management.