One of the reasons I sought information about online investments was to reach a point where I could retire knowing that I could maintain a reasonable standard of living. I’m not there yet.

Since I first started I’ve learnt a lot and feel that I know what to avoid if I am to be successful. My strategy now is to spread my net wider and wherever possible make sure that I have control over any funds I invest.

One investment that satisfies giving personal control is horse racing. Now, before I go too far I should make the point that this involves Betfair, the online betting portal. Many people (especially in the US) will not be able to take part in this (there are ways around this but that is outside the scope of this post).

There are literally hundreds of systems available that declare they can bring a profit from horse racing. Sadly, many of them are over hyped and fail miserably under any long term scrutiny.

That said I’m more confident in one system, FullTimeBettingIncome. The premise is that you begin with a relatively modest sum of money in your Betfair account. By following the system you aim to build your account over a period of 3 to 4 years to a point where it can provide you with a full time income (quoted as £30,000 to £40,000 per year). At the current time this income is not taxable so does provide a useful source of funds.

The system author, Chris Castell, has used this approach for several years. He is confident that if you apply the rules consistently you will earn good returns. There is a sensible staking plan involved that ensures you build your bank gradually over time.

The system rules are very straightforward and will only take 10 to 15 minutes a day to find matching selections. There is also an option to have the daily selections emailed to you. This costs £60 for six months so is well worth considering if time is short.

By starting with a modest bank you should realise that growth will be slow. So, if you are someone that is impatient or lacks discipline this is probably not for you. If, however, you can stay focused and follow some simple instructions then this is definitely something worth looking at. You don’t have to know anything about horse racing as finding selections and placing a wager is very simple. Some days there will be no selections and often horses don’t meet the odds range to qualify. If this happens there is no need to worry as other opportunities will follow soon after.

The system itself is £97 which is a one time cost so no recurring fees. I began in earnest in May of 2012. The summer has not been kind to racing and the results have been okay but probably less than one might hope. However, this is a long term strategy so time will come to the rescue.