I commented on a popular personal finance blog that my Prosper account is "like gambling." Let me clarify. I started on Prosper because someone I knew needed a small loan. I offered to help him write his request and fund a small percentage of it ( a few hundred bucks). I think that any loan to family or friends should probably be considered lost money. I hope they pay it back, but at the same time I wouldn't lend any money I couldn't live without.
So I invested a few hundred bucks I could live without. So far this person has made timely payments and I expect he will pay on time for 36 months. I then reinvest all proceeds into new loans. If all the loans default, I will not be that upset. If am skilled at picking good loans then I will be rewarded with a very small residual income stream. Either way, I will be fine.
I am not much of a gambler or a splurger. However, I certainly know people who have lost a couple hundred bucks at casinos or betting on the Superbowl. There are probably millions more who waste money ( on what I consider "stupid stuff") on an almost daily basis.
I highly doubt I will lose any money on Prosper. At worst I expect to break even. To me it's a fun and interesting use of time and relatively cheap. I probably will not be investing any more except the funds already in the account.
Wednesday, May 30, 2007
Prosper is My Gambling Account
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I have intended to play for a long time play on slot machines in an online casino, but I can not make a choice as for a proper worthy gamble-resource.
With varying success I played tested my fortune on conditional money in such internet casinos, as Grand Casino, Vabank, in JOKERBANK, in AceKing.
As a matter of fact, while you are playing on conditional money training chips you win often enough. There is a question – whether I can entrust casino real money.
I have heard that there are some diplomas documents which special commissions on supervising internet gambling give to casinos.
I am curious what I am interested in is - where it is possible to look at them and what their form is in general.
Also I have seen in some casinos an option trick - «honesty control» - there are some figures and letters in the window, I can not understand what it can mean how much I can trust it.
Then, if to transfer won money on electronic wallet - who will pay the commission to Webmoney system?
And, at last, the main thing is why do we need bonuses if they are necessary to be won back in a real form, which exceeds the bonus sum by 20-30 times? That is, to receive $1 from the casino I am charged I should risk $30? Can it be profitable?
I am thankful in advance thanks in advance for any advice and answers to the above-mentioned questions.
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