Thursday, June 25, 2009

Current Program One

The first program I wish to evaluate is GoldNuggetInvest.

This is the only program I have committed what I consider serious funds to. By that I mean over $1000us. I have probably spent way more than that over the years as my path to wisdom slowly progressed! More on those programs in another post.

I will expand on the 8 qualifying points I mentioned in my previous post, as I reveal to you why I have spent funds to this one.

1) Is the business model viable.

GoldNuggetInvest uses member funds to finance their arbitrage wagering activities. I won't elaborate on how that works here, as full details are available on their website. Suffice to say, arbitrage wagering brings a guaranteed profit from every transaction. It is a legit activity, and although profits are derived from betting, arbitrage is certianly not gambling! Confused? Their website explains it all.

2) Are the returns realistic, considering the business model used.

The team at GoldNuggetInvest complete 250-300 arbitrage wagers weekly. On average 2-5% is realised on each one. A 6% weekly return to members is therefore quite achieveable.

3) Is it sustainable long-term.

While ever there are bookmakers taking bets on sports events and such, arbitrage opportunities will abound. Can't see that ending anytime soon.

4) Is the company itself legitimate.

I did a little research on this one, rather than simply relying on information from the website. A domain whois lookup confirms their online status. The fact that they recently made bank wire a deposit option further reinforces their credibilty. Not an iron-clad guarantee, I know. But I would not have sent the funds I did via an online payment processor. At least I can track where my funds ended up, should something go wrong here.

5) What is the risk-reward ratio.

To me, this simply means how long are my funds committed before I can recoup my investment, thus making the program "zero-risk".
To fully recover capital via interest earned takes just 17 weeks, without compounding.
Should you deposit sufficient funds so that your weekly interest is $50 or more, you can redeposit it into the program, thus compounding your returns. Capital would be earned back in approximately 14 weeks using this strategy.
Notwithstanding the above, your capital can be withdrawn after just 30 days participation. Interest payments are available for withdrawal weekly, subject to minimums, which varies according to deposit method used. For bank wire, min withdrawal is $100us.

6) Is it truly passive, or is some participation required.

No action is required of members apart from monitoring your account and deciding what to do with your weekly interest payment. Referring new members is optional, and a small commission is awarded when a referred member makes a deposit.

7) Are deposited funds safe.

This is a difficult one to ascertain for any online program. So far, so good! I will comment more after effecting a successful withdrawal.

8) What is the procedure for participation (deposit/withdraw options).

The company accepts funds from a variety of online payment processors, including Liberty Reserve, SolidTrustPay and StrictPay. As mentioned earlier, bank wire is also now an option. Whichever method used for deposits, must also be used for withdrawals. They do not operate as a currency exchanger between payment processors.

In summary, this program satisfies all my requirements for a truly passive income. My bank currently offers 4%pa. 6% weekly is a much better alternative!

Please visit the website to get a full understanding of how arbitrage wagering produces these results, and how you can benefit from this exciting activity.


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