Is Investing Gambling?

Is Investing Gambling?

Prefer To Listen To My Podcast? Click Here To Listen Now!

What is up everyone! Mike Rosko here with blog post number five of my life story! Is investing gambling? In this episode I’m going to be continuing on with my life story. For those of you who have not listened to the first four episodes, feel free to tune in. You know, it’s all a big continuation. And for those of you who have been listening to all them, thank you so much. I really appreciate it.

I’m hoping you guys have learned a decent amount just from the stories alone and I hope you guys can relate to some of the situations I’ve been in. So as you guys have known, whoever has tuned into the previous blog post, I left off saying that, you know, I had hit rock bottom. Now I’m not going to go into detail because that kind of stuff, I like to keep private. So let’s just continue on with the story of where we left off last time. 

Led to Negative Mindset

So anyway, I have these health issues and I’m sick for about a year and a half. And for, you know, those who have been sick, sick, you know, like everything that goes wrong goes wrong because in your head you’re just negative about everything because it’s just the way it is, you know? So for those of you who can relate, you know exactly what I’m talking about, but even, even if you’re not sick, sick, if you do sick and, um, you know how it is, you wake up, you’re like all another day and I’m still sick, blah blah blah. You know how it is.

Like you literally have no desire to get up every day and do anything. And you know, when you’re sick, like you don’t even know the result, any of that. So at this point, I’m done with college, I stopped looking for jobs, still had my job at the supermarket, but I had like no desire to move forward. I had that YOLO attitude, you know, you only live once and I just started gambling. I mean, I, I’ve done it before in high school, you know, side bets, but nothing crazy. 

Introduction To The New World

And you know, at first it didn’t really work out until a friend of mine introduced me to DraftKings and I was like, what is this? And my friend explained the concept where it’s like fantasy football, fantasy baseball, but you pick your lineups every day and you have to fit your lineup within a certain salary. I’m wondering, is this investing or gambling?

So I’m like alright, that actually sounds pretty cool! I really had nothing else to do or look forward to. Because I wasn’t looking for a job or anything, so I was like, I’ll give it a try. Why not? So for the first couple months, I try it out. I’m flat out terrible at it. So I started Googling. I’m like, okay, how do you make good DraftKings lineups? So I clicked on a bunch of articles, and I came across a tip that informed me to study the elite DraftKings players’ lineups everyday.

1st Unintentional Discovery Of How Important Mentors Are 

Is Investing Gambling?

So I say to myself, “Oh yeah, that makes sense!” Like the same exact people almost won every day, so why wouldn’t I study them? And it’s funny because most people would like think of gambling as, oh, you lose all the time, blah, blah, blah. But actually with DraftKings, there is a certain strategy where you can construct your lineup and can win a decent amount of time. So is investing gambling?

So every day for like a month I would study the elite players. Every time I would look up each contest and would scroll to the top and I would just keep seeing the same names at the top and I just started studying their lineups.

Trying to determine how they were constructing each lineup. I tried to enter their minds and think why would they choose this player here that player there, etc. . And as I started to learn what they were doing and recognized the pattern.

Learning From Mentors Leads To Shortcuts

I actually started getting a lot better at DraftKings after just 1 month of studying the elite players’ lineups! And it’s funny because at the time I didn’t realize this, but this is where like mentors come into play because if you’re learning from somebody that’s already winning, then you have a better chance of winning because they won all the time. 

And that’s the same thing with business. If you learn from somebody who’s already done it, then they save you time, money, mistakes you may have made without one therefore increasing your chances of success in less time because you’re learning from people who have already done it.

So in this case, I was studying lineups of people who are winning almost every single day. But like I said, I didn’t even realize what I was doing, but now that I look back at it, I’m like, oh wow. I was looking at as them as mentors.

The Process

So anyway, so I remember when I first started, I tried some MLB lineups, lost money, blah, blah, blah. And then I transitioned to entering NBA contests and the first couple of months we’re like, eh. And then I realized, oh, let’s start studying the top people who went all the time. 

Like I said, I studied their lineups for a month or so and it was now about November. And I just start winning, winning, winning…

I’m like, “Oh my God. Like I can actually be really good this!” So starting in November, I just started winning tons of money and then early January rolls around and I’m watching my lineups and all of a sudden…

I see I’m in 1st place in one of the huge tournaments and I’m freaking out! Like when you clicked on the “Contests” tab it literally said $50,000+ now and this was at like 11:30 PM!

So I’m thinking, alright, so most NBA teams’ games are pretty much over. So I called my friend, I’m like, “Yo, I’m about the send you a picture right now.. Check it out!

I send the picture and he’s freaking out, “Oh no way are you really about to take this tourney down!” So I’m watching the contest all the way up until like 12:30 AM or so and I’m not sure if it was the only game left, but I know the Los Angeles Lakers game was still on. 

The Final Stretch

So at this point I’m so close I can taste it, I’m literally ready to pass out from shock…

There were other players just under me aka lower scores than me, well not really just under me, but within the top 500 top scores that still had Lou Williams left. And you know, the fourth quarter started in the Lakers game.

And let me tell you something, when Lou Williams gets hot for those of you who watch basketball, you know, he can go off and put up a lot of points. He can fill the box score up quickly…

So this is actually on January 8th (yes of course I remember the date…) and I’m pretty sure they were playing the Oklahoma City Thunder and Lou Williams fourth quarter was absolutely ridiculous… He went off…

I remember, I’m sitting there watching my lineup and some of the other lineups behind me and all you see is that they’re just climbing the leader board literally every five seconds. They’re just climbing and climbing and climbing. And by the end of the night, I ended up finishing like eighth or something, so I won a decent chunk of money, but it wasn’t the $50K that I wanted…

No Way Would It Happen Again… 

And the craziest thing was this same exact thing happened a couple of days later. Lou Williams, fourth quarter, somebody had him underneath me, they passed me and I got knocked out of 1st place once again… So I had two days where I literally could’ve won a combine 6 figures…

That’s kind of when I learned like, okay, my lineup, construction is perfect. I know what I’m doing, I learned from the best, I’m ready to go. So for the rest of the regular season, I won a decent amount of money. I had built my bank roll up just in time for NBA playoffs and MLB.

But for some of you who know in the NBA playoffs there is far less consistency, the stats are all over the place… So I actually ended up losing money then and I ended up losing money with MLB as well…

Wrong Mentality

But unfortunately I had the mentality of, oh well I did it this year, so next year I’m going to be able to do the same thing…

Well… I couldn’t have been more wrong… 

Draftkings doesn’t work like that… So the next NBA season comes up and you know, I still had some bankroll and had money to toy with and I started the season off cold and I’m like, oh no… But, I still had that same mentality. I did it last year last year, so you know, I can do it again.

But I didn’t really realize that everyone around me can get better too. They could’ve just did the same thing I did and just study the people one all times studying in lineups. But again, November comes around and for some reason that’s just my lucky month. That’s just my best the starting point. I don’t know if players just needed September and October to just get used to their role or whatever, but I don’t know, I just started winning.

I started actually qualifying for those of you who have never played DraftKings, I start qualifying and taking down some of the top dogs, like Sahil Sud in qualifiers which me means I won tickets to certain contests by having the highest score in them.

And if you guys don’t know who Sahil Sud is, he’s literally the top DFS (Daily Fantasy Sports) player like ever. He’s literally made millions off of DraftKings.

Ruined

So again, I’m on top of the world, you know, doing my thing, winning some money. But all of a sudden, I think February I hit a point where I started losing money and I didn’t really know why,..

So I was on Twitter at the time just hanging out scrolling through the feed and I remember just seeing a bunch of tweets from accounts about selling lineups and softwares and lineup generators on DraftKings for “X” amount of dollars. So at the time, I’m not thinking anything of it, but eventually I put two and two together and I started seeing a bunch of people with the same exact lineups within every contest. So I’m like, what’s going on here?

The King Has Retired

I also noticed that Sahil Sud quit playing and he started selling his own lineup generating software and I was like, that’s weird. I mean the guy wins all the time. Why? Why would he stop playing?

So I just kept losing, losing and I just decided to stop in general. And it occurred to me like if, if Sahil’s going to stop playing, that means that he doesn’t think he can win anymore. So I’m going to do the same thing.

You know? I was feeling kind of disappointed though because like I was going through that rough patch and you know, DraftKings had kind of cheered me up. It gave me some life. It made it really fun, you know? But unfortunately good things come to an end, right?

The Return Of The Bad Mindset

So I go back to that negative mindset, you know thinking, Oh why me? Why this, why that I could already had a job by now, blah blah, blah, blah blah. And just thinking so negatively for a couple of months. For those of you who know, you know…

It Clicked

But then I remember just one day just waking up and it clicked… 

I don’t know if any of you have ever just clicked randomly, but I literally woke up one day. Sun was shining, gorgeous day, looked outside. I was like, wow, what a day…

And it just clicked..

I was like, I am ready… I’m ready…

And I don’t know what happened. But ever since that day, life has been absolutely incredible. Life has been amazing…

I don’t know if any of you have ever had that happen to you, but it is quite the feeling, it’s essentially indescribable. Like I just clicked, I was just ready…

And that was when I realized, okay, I only live once, I’m gonna make the most of. It’s just, I don’t know how long I’m going to be here. I am going to make the most of my life. I’m ready…

I remember just sitting there staring at my ceiling and I remember thinking…

“We live in America, only 5% of Americans are rich. Why are only 5% of people rich in America? This is the promised land. Why is that? Like it doesn’t even make any sense. We’re supposed to be that nation, the best nation in the world.”…

Research

So I hopped the bed a bed, got my laptop, and I typed him, “Why are only 5% of Americans rich?” on Google And I just started reading articles. Nothing really that crazy, but I was just curious. So then I went on Google again and I typed in “how to get rich”, searched through a bunch articles, all those blah blah blah.

Then I happened to come across this book. You know what my friend actually mentioned this book a couple of years ago and I’ve heard a bunch of famous people talk about this book and I read this book. This book is called Rich Dad Poor Dad by Robert Kiyosaki

This book was kind of like the start of my life changing…

I also knew a bunch of famous people have come out and they said the same is happening to them… 

So if you have yet to read that book, I highly recommend you go read it. Click Here on the link, it’ll take you to Amazon and buy it on Amazon. It’s only like $5! But it is worth thousands!

Go read that book. And now that book kind of an made me understand like, okay, now I know why only 5% of people are rich. We’ve been taught the wrong way our whole lives. Well most of us, not all of us, most of us, we’ve been learning from people who aren’t even successful…

Think about that…

We’re learning from our parents, teachers, people who just aren’t successful…

What’s Your Definition Of Success?

Now keep in mind, everybody’s definition of success is different. But my definition of success is financial freedom. I want to be able to do whatever I want to do every day, whenever I want… 

So I’m not going to sit here and learn from my parents, my school teachers, and my college professors. I’m not going to sit here and learn from them when they’re not even successful themselves…

So this book, goes through a whole bunch of stuff, you just need to read it ASAP. But this book opened up not only my eyes, but tons of other people as well, to everything and it helped shape me to who I am today!

You know, it’s actually pretty funny cause I don’t think I had read a book in like 10 years before I read that book. And that day I clicked, I just knew like I needed to live a fulfilled life.

Shortly after I read Rich Dad Poor Dad, I started looking up book recommendations. What books should I read? So I put together a huge list and I ended up reading a ton of books in the upcoming months. 

I was ready,.. I wanted to change…

I don’t know about you guys, but have you ever got to the point where you’re like, I’m not happy with my life right now. I want change!

And now for those of you who don’t realize, in order for your life to change, YOU need to change it. Okay?
YOU, YOU, YOU control your life, YOU control your life, I can’t stress that enough!!!

I’m telling you this and I’m repeating myself because yeah, you can sit down and learn for 12 hours a day. Yeah, you can read all the books in the world. And yeah, you can follow your mentors around and learn from them…

But none of that matters if you don’t TAKE ACTION yourself. You need to take action in order to be successful!

But it’s funny because there are people that just take action. They just jump into things without educating themselves and trying to learn from mentors. They don’t try to gain the knowledge. They don’t read books, any of that! That could be a disaster too!

But I do see from watching other people, that the hardest part for people to do is take action…

But you need to find that fine line between learning and taking action!

So with having said that, I’m going to stop this blog post here and I’m going to continue telling my life story in the next blog post so stay tuned!

I hope you guys have that moment or get to experience that one moment because the feeling is indescribable, it’s incredible!

But anyway, in the next post I’m going to continue on with the life story and I hope you guys are able to tune into that one because that’s when I will tell you about how I started taking action. And over the past couple of years I’ve grown so much in my life, way more than I had in my previous years. Oh by the way… investing is not gambling…

I just want to thank you for reading this post I appreciate you taking your time and I’ll see you in the next blog post! 

P.S. READ RICH DAD POOR DAD BY ROBERT KIYOSAKI!

Prefer To Listen To My Podcast? Click Here To Listen Now!