5 Things You Need to do After a Big Win. - page 2.

eisen33

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Quote from: Orpichukwu on October 31, 2024, 05:37:39 PM

Sometimes if you just get your hand in money that you have not touched before, there is a high chance of the person's lifestyle changing for the main time before they can even think about the right thing to do with the money.

Investing is a good thing to do, but where the problem lies is trying to identify the best thing to invest on, as at that moment everything might appear to be an option, which leaves you with the choice of choosing which one is right.

It is quite possible that the money that came simply without great expectations will want to be spent as easily as it came. In this case, this win will not change anything, it will be spent maybe on some expensive things that the player has long dreamed of, maybe an expensive car, maybe his own home, and this is not the worst way to spend money, but I think that they could be used more intelligently and ensure that this money continues to work and gives the opportunity to find a better future.

fullhdpixel

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Quote from: TravelMug on Today at 05:06:21 AM

We should immediately withdraw it from online casinos before they think of a way to hold it and then ask several questions, you knows, ways that you might feel that they don't want to pay or delay it if it is really that big amount.

For investment, yeah, for sure as crypto enthusiast, we have heard this before as crypto in general is all about investment and waiting and holding and then selling at the right time. So it could be crypto at best for us, or real state for good. Maybe we can go back to gambling again, but be sure to control ourselves and not let that big win or the money that we have won, returning it back to that online casinos.

I think only a few who can think like this and they can usually think of it if the casino they are playing with is still new to them. For the most gambler, the reason why they are only rushing to withdraw is because they are afraid that they might lose it all by getting tempted of playing again and again.

There are still a possibility that we can redeposit especially if the money is still there, so many are literally spending it on things, food, paying the bills, etc... For a legit casino, I don't think they will question you for having a lot of funds in your account but they will be happy about it in fact because they see it as a form of support.

There might still be a casino who are also happy when their customers successfully withdraw their money because that can show of being a responsible gambler.

Another reason on why a gambler can hold money on his account is like you said if they are investing because there are also casinos who have this feature. It can be a good addition to our other investments because casinos now are still getting a lot of demand. Crypto in general is actually all about currency or payment and them being used as an asset for investment can only come in second.

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Those tips that I want to see all people who have somehow received "big" money follow. There is a proverb that says, "The morning is always wiser than the evening." If you win a large sum, do not be greedy; stop and leave the game. You do not need to rush headlong to spend, treat, or throw money around. This is often done by people for whom a large sum seems like a solution to all their problems and the beginning of a completely new life. But for those who yesterday "were in the dirt, today will not make him a prince." Education is necessary. Sit for some time with this amount and decide how to make it so that you get passive income from this amount. Otherwise, what came easily today will go away even faster tomorrow.

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Quote from: Kelward on Today at 06:14:31 AM

If you win big without any big plans for huge amount of money, then you might end up buying luxurious items and going for vacations, you'll blow up the money. If I win big, I have readymade plans for real estate and invest in Bitcoin, I can use parts of my profits from my investments to be buying whatever luxuries that I need.

Probably, bettors share similar ways of spending the big wins. Like you added “luxurious" item after your brief investment plans. This better explains that gamblers share relatively same behavior when it involves big wealth. A sane way of living a dream lifestyle and retaining existing riches. Could this have been the foundation laid on to urge consistent gambling? To attain greater heights financially.

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Quote from: TheUltraElite on Today at 06:28:11 AM

The thing I understand is that after a big win, you need to stop and exit the caisno once and for all. Never ever come back to any sort of casino.

Pay the taxes if local rules ask for it and go stash it in a bank and forget that you were a gambler. You dont want that past to haunt you. Slowly and steadily use the money to build your new life. It can be a new business or a step in education or just more investments if the previous two are already solved.

Then you start thinking about paying back debts, every gambler has some or the other.

Any player who once was able to win a big win in the casino will always return there again, because it was there that he received a lot of money that his life could change.

How to dispose of the winning is also a very important step, or rather important steps that the player must take to save this money and even increase it with proper circulation. But there is such statistics that people who worsen big money in Luther often lose everything as quickly as they earned, because they are not ready for such a big money and subconsciously try to return to their usual state. A person is arranged so that he needs time to get used to the new order of things.

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So anyway, I applied as a merit source :)

The thing I understand is that after a big win, you need to stop and exit the caisno once and for all. Never ever come back to any sort of casino.

Pay the taxes if local rules ask for it and go stash it in a bank and forget that you were a gambler. You dont want that past to haunt you. Slowly and steadily use the money to build your new life. It can be a new business or a step in education or just more investments if the previous two are already solved.

Then you start thinking about paying back debts, every gambler has some or the other.

Kelward

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It's said that the difference between the rich and poor is decision, rich people makes better financial decisions. My point is that even if you're poor, there's nothing stopping you from dreaming big and imagining what you can do with different amounts of huge capital if you happen to own them in the future. If you have this mentality, it'll be easier to put huge gamble wins into good use on time because delay is dangerous. If you don't have ready made plans for huge amounts of money, a lot of distractions will flood your mind if you were to hit the jackpot.

If you win big without any big plans for huge amount of money, then you might end up buying luxurious items and going for vacations, you'll blow up the money. If I win big, I have readymade plans for real estate and invest in Bitcoin, I can use parts of my profits from my investments to be buying whatever luxuries that I need.

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Quote from: memehunter on October 30, 2024, 01:19:02 PM

I understand that 'BIG' means different to different individuals. Here by 'BIG' I mean life-changing money (bigger than 20x of your monthly income).

1. Let the money sit in your bank account (wallet) for at least one month. It will allow you to settle down your heightened emotions. Just let the amount sit and do not do anything with it for at least one month.
2. Go on a low-cost, week-long vacation with your family and friends (do not tell anybody about your winnings; do not boast) immediately. It will help you make your relationships stronger and will certainly help in doing step 1.
3. Do not change your lifestyle immediately, as it will help you to remain disciplined, which will eventually help you out to earn even more.
4. Consult a certified financial consultant and invest in a diversified portfolio other than gambling, probably for the long term, at least 80% of your winnings.
5. If your winnings are even greater and allow you to quit your job, then use your time to learn finance.

If you have any suggestions feel free to addon.

That's quite an interesting suggestion, but for me other than the second point the others are not really needed if I get a big win that can change my life, in choosing to develop an investment portfolio for me I will only keep most of it in crypto for hedge funds and long term by utilizing several Defi protocols that can provide more profit than capital gain.

This of course also needs to be seen from a person's life circumstances and knowledge because this will cause different reactions and actions when getting a big win, but honestly talking about this kind of thing will create an illusion of trying your luck at gambling and hoping to change your life in a few taps of your hand.

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Quote

1. Let the money sit in your bank account (wallet) for at least one month. It will allow you to settle down your heightened emotions. Just let the amount sit and do not do anything with it for at least one month.
2. Go on a low-cost, week-long vacation with your family and friends (do not tell anybody about your winnings; do not boast) immediately. It will help you make your relationships stronger and will certainly help in doing step 1.
3. Do not change your lifestyle immediately, as it will help you to remain disciplined, which will eventually help you out to earn even more.
4. Consult a certified financial consultant and invest in a diversified portfolio other than gambling, probably for the long term, at least 80% of your winnings.
5. If your winnings are even greater and allow you to quit your job, then use your time to learn finance.

That's great. Now you need to make a post about "what to do after a big loss". Maybe you could come up with a list of bullet points and things to do. Here are my suggestions:
1.Quit gambling. Get rid of the delusion, that you would be able to restore your losses by keep playing at the casino and getting lucky. This won't work. Seek professional help and stop making excuses.
2.Read the first rule.
3.Get a job and start slowly paying off your debts. There's no way around this.

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Quote from: Dewi Aries on October 31, 2024, 08:50:37 AM

Yes, with just one decision to "cash out" then everything is done, meaning a gambler has the opportunity to enjoy the amount of money they have won as you would like to do, namely by going on vacation with your friends or beloved family. Basically, using the money from winning for everything you want or need, such as buying things you want or to help meet your living needs or it can also be allocated to investments for a more beautiful future, it will always be the best decision than using the money from the winnings again on gambling which is likely to potentially eliminate everything in a short period of time.

Yes, cash out will the best decision ever that we can do after big win so we can use the money for many things. We can also buy the things that we want and celebrate it with our family and friends. We can do many things including preparing our future by keeping the portion of the money for our future so we can survive if the situation is not good. It is grateful when you can see your family happy with your winning although you don't tell them that is because of your big winning in gambling. You can keep that as a secret for yourself so there is nothing to worry about what they will say.

Quote from: Accardo on October 31, 2024, 01:36:03 PM

Funny enough tips on wins as this is not necessary. What that matters is the big wins, how the player spends shouldn't be studied or picked from advises. Perhaps most gamers had no plans before hitting the jackpot. It's an unannounced event with surprise surrounding the player. In a nutshell, number 2 is typically a norm for almost all winners. But you perspective is top notched, wise big earners prefer to lie low and avoid attracting the wrong people.

The gamblers who wins big money must know about that and not thinks to keep playing gambling and chase bigger winning. They must feels satisfy with that big win and enjoy it with their relatives or families. They must not spends all of the money for celebrate or wasting the money but they must have a plan what they will do with that money. It needs wisely to thinks because winning the jackpot will be a shocking moment for a gambler so they must calm down their minds so they can thinks what they need to do. Hiding our big winning from other people will only an option for those who don't want to show off their winning.

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Quote from: len01 on Today at 01:30:50 AM

From options 2 to 5, I might agree because in that way a gambler can use his winnings in a wiser way.
But on the first option, I disagree a little.
Keeping money in your wallet for too long will tempt you to "try gambling again hoping to get bigger results".
Well, in this case only a small number of gamblers are really able to stop after getting a big win and most gamblers will continue betting several times in the hope of getting another win.
So in the first option it might be better if it is used to invest again in something that has a small risk.

We should immediately withdraw it from online casinos before they think of a way to hold it and then ask several questions, you knows, ways that you might feel that they don't want to pay or delay it if it is really that big amount.

For investment, yeah, for sure as crypto enthusiast, we have heard this before as crypto in general is all about investment and waiting and holding and then selling at the right time. So it could be crypto at best for us, or real state for good. Maybe we can go back to gambling again, but be sure to control ourselves and not let that big win or the money that we have won, returning it back to that online casinos.

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Quote from: memehunter on October 30, 2024, 01:19:02 PM

I understand that 'BIG' means different to different individuals. Here by 'BIG' I mean life-changing money (bigger than 20x of your monthly income).

Although you have stated that this huge amount could mean different to different individuals but I don't know how much you assumed or use as a minimum monthly income. I just did some rough calculation now and 20x of average civil servant monthly income is not a bigger amount that worth all that you mentioned in your thread. Unless you hit a terminal jackpot program run by gambling sites, winning amount that beat 20x of one's monthly income seems unrealistic. To have such win, it's either you staked way too high (not advisable) or you have so many picks on your ticket to give a maximum odds (too risky). Any of these rendered the chances very slim. Assuming it happens, quitting your job would be the greatest mistake you will have to make in your life.

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Quote from: fruktik on Today at 01:48:59 AM

Quote from: hyudien on October 31, 2024, 04:38:14 AM

Going on vacation after a big win would be very interesting, because we can enjoy the victory we get directly, and especially if we are people who like to go on vacation, it must feel very enjoyable because we go on vacation for free.
And I agree with you, why do we tell other people about our victory? let's just enjoy it. Because maybe if we tell other people it will invite trouble or crime to ourselves. And sometimes the most annoying thing is that those who were previously strangers will feel like family after they know we have money from the big win we got. Lol

If you win big, there are several options for how to properly use your money.
1. Spend it on a vacation, for example.
2. Invest

The option of increasing it suits me better. I want to achieve passive income. Yes, I can't sit idle either. It becomes incredibly boring. Therefore, I would still find something to do to while away the time usefully.

After living a very heavy life, of course, using big winnings to go on vacation with family is the right choice, I think we also need refreshing to refresh our brains after being involved in gambling that we may have been doing continuously all this time, with the burden and also the sense of fear that may be present at every time of gambling, of course, taking a vacation and forgetting about gambling temporarily is the right step, especially if we can spend a lot of time with family to have fun, I think in addition to vacationing, of course we should think about how our financial condition will be after that the money runs out, so indeed investing part of the winnings to get passive income is also a very smart step, so with that, of course, we can enjoy the results of our winnings in the long term and get better financial security later in the future.

Dewi Aries

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Quote from: Z-tight on October 31, 2024, 06:07:34 PM

How many people ever get a life changing win through gambling, the chances are very slim to none, however, your recommendations are not bad, some people win a good amount and almost 99% of it goes back into the casino. If one wins the sort of money you are talking about, it is necessary to withdraw most of it for other stuffs in real life and only leave some of it to gamble later, take note that we must always gamble responsibly.

Maybe I would say that actually no matter how much you win if in the end you are not able to cash out or for example after cashing out then you return 99% of your total winnings back to the casino due to losses and because you are increasingly aggressive in gambling then maybe it can be said that in the end it all looks empty, you only get pleasure but in the end significant disappointment occurs.

In general, maybe I can say that in gambling there is a victory that is called an unreal victory which is caused by the gamblers themselves who cannot take advantage of the good situation to fulfill all the needs and desires they have in life instead of returning it all to the casino. This means that maybe I can also say that the real victory is when you are able to cash out and spend all or at least half of the winnings to fulfill your needs and desires in life.

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Quote from: hyudien on October 31, 2024, 04:38:14 AM

Going on vacation after a big win would be very interesting, because we can enjoy the victory we get directly, and especially if we are people who like to go on vacation, it must feel very enjoyable because we go on vacation for free.
And I agree with you, why do we tell other people about our victory? let's just enjoy it. Because maybe if we tell other people it will invite trouble or crime to ourselves. And sometimes the most annoying thing is that those who were previously strangers will feel like family after they know we have money from the big win we got. Lol

If you win big, there are several options for how to properly use your money.
1. Spend it on a vacation, for example.
2. Invest

The option of increasing it suits me better. I want to achieve passive income. Yes, I can't sit idle either. It becomes incredibly boring. Therefore, I would still find something to do to while away the time usefully.

len01

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From options 2 to 5, I might agree because in that way a gambler can use his winnings in a wiser way.
But on the first option, I disagree a little.
Keeping money in your wallet for too long will tempt you to "try gambling again hoping to get bigger results".
Well, in this case only a small number of gamblers are really able to stop after getting a big win and most gamblers will continue betting several times in the hope of getting another win.
So in the first option it might be better if it is used to invest again in something that has a small risk.

Z-tight

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How many people ever get a life changing win through gambling, the chances are very slim to none, however, your recommendations are not bad, some people win a good amount and almost 99% of it goes back into the casino. If one wins the sort of money you are talking about, it is necessary to withdraw most of it for other stuffs in real life and only leave some of it to gamble later, take note that we must always gamble responsibly.

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Quote from: Fiatless on October 31, 2024, 03:57:01 PM

The OP gave the advice to avoid hasty investment. Some gamblers don't have any investment plan which is why they need time to search for business and do the necessary feasibility studies to determine the viability of the venture. At least one month will be enough to come up with a good business plan. In any case, it will be a waste of time and resources to keep the money in the bank for a long time. Inflation will gradually make the funds lose value over time. Converting and keeping the money in Bitcoin will be a better option.

Unfortunately a large number of gamblers quickly blow away their earnings, not everyone has the self-control or a clear mind to set specific priorities on what to do with the money. The OP suggests to withdraw the money and leave them standing for up to a month to reduce this excitement and avoid it being spent on the casino again. However, winning an amount of 20 times your monthly income isn't life changing, unless you're already making too much money, because personally, it would approximately be over $20,000. You could invest that amount and in the future it could be a substantial amount, but still not life changing.

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Quote from: eisen33 on October 31, 2024, 05:12:07 PM

When I read your post, I get the impression that you are talking about winning the Jackpot, but it seems to me that to win such a big win you need a lot of luck, or play for big money. The smartest move after winning a lot of money would be to invest it in something that will bring you passive income, and changing your lifestyle right away will not work, you need to change for this, and this takes time. The most important thing is not to spend it all at once on something useless.)

Sometimes if you just get your hand in money that you have not touched before, there is a high chance of the person's lifestyle changing for the main time before they can even think about the right thing to do with the money.

Investing is a good thing to do, but where the problem lies is trying to identify the best thing to invest on, as at that moment everything might appear to be an option, which leaves you with the choice of choosing which one is right.

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Quote from: memehunter on October 30, 2024, 01:19:02 PM

5. If your winnings are even greater and allow you to quit your job, then use your time to learn finance.

If this is quite big that allows me to quit my job. I won't do that in an instant. Many will notice that something is odd and the job that I love to go with every day has lost my interest that quickly.

I'll continue to work for that job but I won't be pressured anymore with deadlines, tasks, etc. that I do there but I've got money already. Maybe it will come to that point that I should just quit but then, a continuous flow is needed IMHO.

Even if we're already big time and won such money, when they're not moving at all and not giving you more income, you have to do it for yourself and as you're looking for another source where that money will work for you.

Topic: 5 Things You Need to do After a Big Win. - page 2. (Read 869 times)