Money In The Bank?


I’m not a betting man,    well not in the context of taking it seriously,   I work hard for my cash and don’t go throwing it away on frivilous things  … well except concerts, football, alcohol and a significant collection of designer shirts!

Here’s the thing,   in the current economic climate, money in the bank earns nothing.

According to Martin Lewis’s money saving experts site,   the best currently available savings rate is 3% on a Santander account for savings up to £20,000.

But as always theres a catch .. the interest is only payable on amounts up to 20k,   after that you get nothng extra and possibly worse is that the interest is paid tax free and you have to pay the tax on it yourself.

Which as a higher rate tax payer cuts any interest in half knocking the rate to 1.5%.or £300pa on 20k locked away.

Whats the point in locking that amount of money down for £300pa?

Personally that does nothing for me and I’d rather spend the money on alcohol,  concerts, football and having a ball .. life is short and for living,  not worrying about money.

With that lack of return in mind for having your money sitting wasting in a savings account would you be prepared to risk a serious lump of money on a gamling bet if you reckoned it was a “sure thing”?

I don’t believe in “sure things” there are none,   but I do beileve in educated risks and taking a small risk if the benefit is worth it.

I’m not a betting man,  but I am a football fan.  Celtic is my team of choice,   we’ve won the league at a relative canter over the past 6 years,  particularly since our old rivals Rangers went out of business in 2012.

The new club which represents Rangers have finally made it to the SPFL .. but are they good enough to offer a chalenge to Celtic?

Personally I don’t think so,   not that I think that Celtic are any great shakes right now,   but theres a new motivation and focus with the change of manager,  some good signings and hopefully some more on the way.

I have absolutely no dount that over the course of 38 games,  Celtic will win the league.

It’s a marathon , not a sprint and not one of our rivals including the The Rangers have the quality in depth to compete over the length of a season.

Having had a looks at a few minutes ago,  Celtic are 1/3 on to win the league which would return £3.5k and The Rangers are 7/2 returning  35k on the same bet.

Do you notice the difference there?

What the bookies are saying is that The Rangers,   Celtic’s closest rival have only 10% probability of winning the league compared with Celtic.

That sounds like a pretty sure thing to me .. and the bookies evidently.

Even better if there is a possibility that the new team on the south of the river don’t make it through to the end of the season due to their funding difficulties.

But would you really take the risk of putting a large chunk of your years earnings down to get a third of that back based on the knowledge you have of the game?

I wouldn’t,   but I will put down 10k to earn that 3.5k.

That sounds a decent return for a relatively low risk to me and a fairly decent holiday for free.

Conversely,  based on the bookies offerings,  any Rangers fan who believes that his team can win the leagiue is deluted and I’ll be happy to take their money on an evens bet.



6 thoughts on “Money In The Bank?

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