Players are loving virtually everything about Red Dead Online so far, except for its economy. Basically, as it stands, you either need to play an INSANE amount of the game -- or more conveniently spend money -- to get new weapons, items, upgrades, etc. And as a result, players are not happy and are pitchforking across the Interent.
That said, until Rockstar Games addresses the issues with the mode's economy -- if it ever does -- you're going to need some ways to earn money beyond treasure maps and the more limited content that grants considerable rewards.
If you've been looking for ways to make money quickly and easily in the game across the Internet, you'll likely have come across a bajillion guides and clickbait videos that tell you the best way to earn some cash money is by hunting religiously. And this isn't bad advice, actually. Grinding away hunting for animals like turkeys and alligators is an easy and effective way to add to your wallet. But it isn't the best way, and by the end of it, you'll probably will never want to hunt again in the game, which is a horrible trade-off.
Luckily, there are other great alternatives that don't involve slaughtering every turkey you see from now until next year. However, all are grindy. There are unfortunately no get rich quick glitches (so stop clicking on those) -- but these two in particular might be the best and most effective methods discovered yet.
This method was discovered by YouTube channel LegacyKillaHD and RockstarIntel, and features restarting your Red Dead Online character over and over again, because, as you may know, money transfers over across characters.
So, what you will want to do is complete the six main story missions, which will get you to level 8, but more importantly deal out up to $450 and 0.7 gold bars (amount depends on how much you fast travel). Once this is done, you can continue on to level 10 so you can complete the treasure map that unlocks then and grants you $100 and a random amount of gold, or you can restart your character.
Once you're ready to restart your character, press start, head over to "Player" and delete your character. Just like in GTA Online, once you create a new character, all money will transfer over.
This method can be done as many times as you want. In other words, you can farm it to make money pretty quickly. Doing this for about three hours deals out about $400-500 and about 1.5 gold. A pretty good return, albeit a grindy one.
There's a few buildings north of Little Creek river in West Elizabeth (see video below for exact location). In one of these buildings is a cabinet with two random items that vary, though usually they are of the more expensive mold. Thus, great for farming. Once you've collected the two items, you're going to want pause and go to the "Online" section, and then click "Free Roam." Once you do this, you'll load back up basically right next to the house, and can do the looting all over again until you're satchel is full. Once full, head over to the nearest fence.