If you’ve come across a program called Small Bets and wondered what it’s actually all about and if it’s worth your time or effort, I have got you covered.
It’s not often you hear someone telling you to go the easy route, take small bets, play it safely, etc.
Most of the time people will tell you to shoot for the moon, and if you miss, you’ll be amongst the stars.
So why does the Small Bets program work so well, if at all?
There’s many reasons why taking small bets works better than shooting for the stars, but I’ll explain why later.
First I want to talk about the Small Bets course and what you’ll get access to for paying $375.
What is the Small Bets Course?
Small Bets is a course on Gumroad.com which talks about starting an online business so you don’t have to work a dreaded 9-5 job anymore.
It’s currently done 641 sales at $375 each at the time of writing this article.
That’s a whopping $240,375 to the creator, so he definitely knows a thing or two about making money online.
It also has a perfect 5-star rating with 23 reviews.
So what makes this online business course so special?
The fact that Daniel Vassallo uses a strange philosophy that most people will tell you not to do.
Small Bets focuses on widening your net and not putting all your eggs in one basket.
The entire concept is to minimize risk, find something that’s working, double down on what you’re doing, and make money.
Too many people start an online business, go all in, put down too much investment, and end up quitting because they find out it’s not for them (and lose all that time and money invested).
Well the “small bets” idea is to stop that from happening.
Examples of Small Bets
So what is exactly is a small bet?
Pretty much everything you do online regarding making money, creating a business, growing a social media following, etc, is a small bet.
- Posting daily TikToks to increase your chances of virality
- Creating a YouTube channel and posting 1 video per week
- Creating a blog and posting consistent content
- Growing an Instagram account around a specific niche
- Creating and publishing an e-book
These all have one thing in common, they take up time and energy in the hopes of something good in return.
That is the best way to describe a small bet.
By spending 1 – 2 hours per day on something, you’re taking a risk in the hopes of it paying off in the future.
Rather than spending 5 hours per day on one thing (in case it fails), you can work on 5 different things per day for 1 hour each.
Increasing your chances of success.
Small Bets Training Material
Inside the Small Bets training course you will have access to a wide variety of things for a price of $375 one-time.
It’s definitely a hefty price tag, but as the reviews confirm, it seems to be worth it.
What you’ll get
Lifetime access to the discord server
The server currently has 650+ members, with active daily members who will share their winnings, experiences, feedback, discuss ideas, and generally help each other out.
This is the “meat” of the Small Bets training program
The cohort courses are actually delivered live via a Zoom meeting.
You’ll get 6 cohort courses for the first 2 weeks.
Every live sessions is recorded and available forever, so you can go back and re-watch things you might have missed.
The point of the live video session is to answer any questions that newbies might have regarding making money online and the Small Bets training program.
- Understanding randomness in business and how to tame the uncertainty
- Identifying business ideas that are likely to work
- Learning how to succeed without failing
- Why small wins will teach you more about success than failure
- Increasing your chances o of gaining good luck
- How to become known and build credibility
- How to make sales and why you should charge less
- How to deal with variable income
- And more
The guest classes are live and hosted by everyday people who have “made it” in their specific field, just by taking a bet on themselves and going with their gut feeling.
The live video sessions will include making money with:
- And more
There will be 3-4 available per month, however, due to the limited guest appearances, these will eventually be repeated.
So Why Does the Small Bets Philosophy Work?
The law of large numbers
The biggest reason why the small bets philosophy works is due to the law of large numbers.
Perform the same experiment many times over and eventually you’ll find something that sticks.
And in this case the experiment will be making money.
Lets say you do 1 thing per day, you’re limiting your chances.
Now if you did 5 things, at least 1 or 2 will eventually work, especially when you’re investing a couple hours per week.
Success is inevitable when you’re tackling many different things.
And when you start making money from that method, you can simply double down and make more money.
It minimizes risk
I’ve had some extremely massive fails throughout my online business career.
I worked on a business for a whole year, investing about 3 hours per day, and it currently only makes me $1 per day in passive income.
I call that a fail because it took at least 2 years to start earning money, and I could’ve been using the other 2 hours building something else.
Increases chances of success
As humans our greatest enemy is time.
We don’t have time for lots and lots of failures.
We have to do whatever we can to increase our chances of success so that we can use our money to buy us more time.
That’s the whole reason why we chase financial freedom.
By doing many things at once, you will eventually find something that works and cover the cost of all the failures.
If you do 10 things and only 2 becomes a winner, it’ll cover the cost of the 8 failures.
It is also the 80/20 rule at play, which means 80% of the outcome is caused by 20% of the input.
That’s why 80% of my income from blog posts come from 20% of the articles.
Again, the rule of large numbers + the 80/20 rule = inevitable success.
It’s a Win-Win Situation
As you can see from the reasons outlined above, there is a LOT of benefit to performing small tasks rather than going all in.
This is especially true for newbies that don’t want to risk a lot that might not earn them anything in return.
That was certainly the case with me many years ago but it further proves that the small bets philosophy works.
I tried so many things before I finally found something that worked (blogging).
I was joining GPT sites, micro-worker sites, survey sites, and even tried my hand in the adult niche (selling affiliate programs).
And although I made some money here and there, they were all big fat failures.
It wasn’t until I started blogging about my passion (which is camping) was when I made my first big money online.
I made $17,492 from that website.
Is the Small Bets Course a Scam?
Small Bets is not a scam and there is actually a lot of good value in the training material.
Furthermore, the active discord channel is great for motivation, sharing ideas, getting feedback and support.
A community of like-minded people is one of the most important things when it comes to an online business.
Most people quit because they don’t think it’s going to work.
Or they lose motivation because they’re not seeing results.
However, an active community will help you keep motivated to see your first lot of results, which is one of the best things to experience might I add.
So no, Small Bets is not a scam, but definitely not easy on the wallet either.
Do I Recommend Small Bets?
Small Bets is an okay place to find motivation, join an active group of like-minded people, and gain access to some training material that will help you make money online.
Will you make money?
Of course, as long as you stay committed, implement the training and stay consistent.
Now do I recommend it?
Yes, it’s a decent training platform for newbies, but it’s definitely not my #1 recommendation.
Especially because of the high price tag and they don’t have a free trial.
Is There a Cheaper Alternative?
Like I’ve said many times throughout this article, I make money from blogging.
I had to join many scams and waste a lot of money before I found something that worked.
Eventually I came across Wealthy Affiliate (back in 2016) and I have never looked back.
It has helped me reach my dream of working from home and not having to answer to a boss everyday.
If it wasn’t for their free trial I probably wouldn’t have joined in the first place and discovered the amazing community and immaculate training program.
So that’s my #1 recommendation for anyone that doesn’t want to pull out their wallet just yet.