When I sat down with the Money Man for our first meeting, and we began to discuss the project we’ve subsequently undertaken he said a few words which really struck me and ultimately triggered my interest in the project, writes OLIVER KEOHANE.
‘People need to learn to treat their betting accounts in the same way they do their Allan Grey ones, but I can assure you that nobody’s Allan Grey account after a year reflects the same returns as my 2018 and 2019 betting funds.’ (I checked the validity and saw that in 2018 the MoneyMan turned a 361% profit, while 2019’s fund sits on a profit of 49%.)
As a student who in fact has an Allan Grey account set in motion for the long term, and like most is anxious to begin grounding myself financially, this reconsidered perspective on betting is what made me eager to begin learning. And, through my learning somewhat teach and grow gambling for a South African audience that remains fairly uneducated (as I am) in the world of betting.
This investment-account approach was followed with the insight that ‘The bets you don’t place are of equal importance to the ones you do.’ Again, reinforcing the idea of long-term growth and the measured investment of one’s money. But it also alludes to the need to educate oneself on when, where and why, as well as when not, where not and why not to place certain bets, in the same way one would make these calls when trading stocks.
So, the general consensus ten minutes into our meeting: educate and grow.
Subsequently, we’ve launched a ‘MoneyBoy’ series which will follow my journey through the sports betting world as 20-year-old having never placed a bet and beginning with the navigation of South Africa’s betting forums. I’ll be looking at eight different South African betting websites, and grading them on the same metric to help new bettors make an informed choice. Our goal is to identify the top three websites, based on a variety of factors.
R50,000 has been deposited equally across these accounts and my money making and loss will be tracked, analysed and discussed over the duration of the next year.
The point of the project is that as I familiarise myself with the betting world. I’ll come across similar experiences, have similar questions, joys and frustrations as anyone else making their betting ‘debut’ so to speak, except I’ll have the sounding board of the Money#Man, who has years of experience and an impressive track record. And, in my dialogue with him, he will be able to answer the questions and explore experiences that other novice bettors may be encountering too.