Topic: 5 Things You Need to do After a Big Win. - page 3. (Read 1606 times)

And I would reconsider the initial steps of money distribution after you win a large sum of money. Wouldn't it be better to first think about where to invest the money, and only then follow the other steps? You have the thinking of a poor person. It will be difficult for you to properly manage a large amount of funds and in the end, you will simply lose and squander everything. Change your conclusions urgently and then things will go uphill. If you don't believe me, then this forum has a lot of topics related to investments. Read, you will learn many interesting things.

After the winning, we must have a plan how we will use the win money. I agree with your suggestion to hire a financial assistant that will arrange some plans to us so we can follow the suggestion. But if we think that the plan needs to modify or adjust to another goal, we can ask him to do that and we can check it later. The important thing is we can know how and what we will do with the money so we can prepare our future better than before and we also have a saving for our family. We can not let ourselves use the win money without any plan because that will makes us waste the money without any plan.

If ever i do win up a life changing amount, so here's my plan:

1. Buy a house
2. Buy a car
3. Build business
4. Time deposit
5. Crypto investment
6. Real estate investment
7. A mix of traveling. 

The moment that you had able to make some investment or business that could potentially bring up that passive income
then this is the moment or time that you do consider yourself on rewarding yourself into more luxury things.

Being disciplined is something that will really be that a personal trait of a certain individual on which there's no way that could be able to tell whether someone do make out some good choices or decisions
because each of us does have that own self control and discipline towards things. If you wont really be that good when it comes into this aspect then on the time or moment that you do have the money
then it will really be that giving out that kind of vibe or thinking that you should be buying up first into those things that you've been wishing or having that goal for.
It is really just that depending on how you would really be that handling yourself into such conditions when it comes on spending up money.

The first decision is made while you are still inside the casino, assuming you are in a physical casino.

You can choose between leaving with the money under your arm or as a paycheck or bank deposit.

Although this decision is entirely up to you, a good tip is to receive most of your winnings in a check or bank transfer and take a small percentage to celebrate. Receiving the money this way is also a great security measure. When you win a big prize in a casino they usually make a big show of it, as it is a way to attract other people to play. You will be visible to everyone, including criminals and scammers, who will now know that you have a lot of money, which makes you a good target.

This is the most important choice you need to make, how to leave the casino and protect your own life in addition to the prize.

This is one of the reasons I prefer online gambling.

Gonna add considering to quit gambling for good; you won't win consistently and for me it is worth considering to quit if the amount is decent enough. What's common is that a gambler would be slowly betting the profit aiming to make things bigger however as I've mentioned profit in gambling won't come as we please; it will all depend to our luck and fate. But all of the recommendations above are good options to make. The only thing I doubt all people could do is with 4 and 5, 'coz some people are looking at it as a waste of money rather than viewing its long term benefit. Some people are having desires of having their own business upon getting a huge amount of money but not all people are willing to invest on the learning phase of the journey.

I won't suggest quitting your job as well as long as your time could still accommodate it. No amount of money is enough to cover all your expenses forever. The only factor to consider doing so is if you already have something that will cover your earnings from your job, perhaps a business as what we are talking about.

Yes it should be like that, but it is very unfortunate that what happens is the opposite, in the sense that instead of taking advantage of the opportunity to enjoy a number of wins that have been obtained, they continue the game because there is a thought that a bigger win will happen soon, even though it is clear as you said that the results in the game will not always be in accordance with what is expected by gamblers, and maybe I would say one of the reasons why acting excessively in gambling is always prohibited is because gambling is a business for casinos which of course a business certainly has the goal of generating a lot of profit.

This means that maybe I can say that in gambling you have to be smarter than the dealer, one of which is by taking advantage of every opportunity that comes, especially when you win, because of course when you actually choose to continue, that's where the casino dealer will turn things around to trigger your emotions and after that the dealer will get a lot of profit by taking advantage of the emotions that dominate in you, and this is why cashing out early is always the best decision.

This still won't have any impact on someone who was raised in a bad way, that money will be everything in their mind, having a long time away from the money doesn't necessarily mean they will think right.

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We are all different like you said and we are also raised differently, normally I will like to let you know that gamblers consists of the most greedy people in the world, take it or leave it, only one percent of gamblers are doing it for fun and thats why many won't accept that you can gamble for fun.

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Certified financial consultant? They don't always work on every one, someone who isn't disciplined while they are broke can never become disciplined when they make money.

If you are really that minding with your future then you would definitely doing the things on which you must really be that tending to do. You are the ones who could be able to direct yourself whether you do lavishly living a life just because you do have the money and you had obtained it on gambling on which you will really be putting up into your mind that it is really just that easy to get. If you are a person who do have that kind of behavior on being just that too relaxed because you are really that believing that you could get another win then you are really that bound on losing those overall winning that you do have and this is some that very common for those people who do win up jackpots neither on lottery or some slot games on which you will be thinking that it is really just that easy to make on the same wins too.
If you arent tha sure on how to handle up your finances then it will really be just that better that you should really be that having some approach to some advisors specially if you dont really have any idea that comes up into your mind, but actually this is really that impossible because if you are really thinking up about your future then you wont really be that having a hard time to determine on what are those investments or business that you should be starting up.

That is right because they will have the win money that they can do for many things. They can use the money for prepares their future so that will be better and they will not have a problem in finance. But many gamblers forget about that and just keep playing gambling because they think that they still have more luck in that day so they can win more money. But that will not like what they want because gambling is a place to have fun and not for make money.

If the can realize about that, they will not trying to chase more winning because that can lead them to losing their money and in the end, they will not have a chance to enjoy their win money. They must be able to prevents their greed becomes big and with controlling themselves in gambling, they will know when they must stop gambling.

Your tips are good to say and I think the major that shows if you are ready to retain your big win is self discipline and emotional control. If you can be able to discipline yourself as a gambler after such a big win, then you can be able to maintain the profits from the win. Controlling your emotions too can come in play when it seems as if you are about making some decisions that could possibly expose you since you are trying to coverup your trace of displaying your wealth as a result of the game you played that got you the big win.

However, if you feel going on a vacation can not make you cover up, it would be in your best safety to change your environment immediately because it is certain that even if you do not want to showoff, there are some things you would want to do which can be a normal but to the eyes of others, they would begin to notice it and definitely know that your financial status have changed and would be forced to ask you questions while some would put an eye on you. It would just be in your best interest and safety to relocate from that environment entirely to a new place where you are not known before as they have no idea who you are.

Yes, it makes me think that if only gamblers could really always make wise decisions like cashing out at the right time when they win, then their gambling activities would definitely look healthier, in the sense that even though we all will never be able to avoid the risk of losing because it will always be part of the game, at least with the ability to make wise decisions at the right time like cashing out, they will also be able to heal the disappointment they have experienced due to several previous losses. But on the other hand, it may be common knowledge that most gamblers always experience a slump because they lose a lot of money and when they are given the opportunity to enjoy the results of their victory when they are lucky, they actually apply greed which indirectly makes them lose all the money they have won.

To me, quitting is the wrong move. You don’t need to leave your job to learn about financial literacy—you can work on that in your free time. It’s much better to keep your job and have steady income, especially since we all know gambling isn’t a guaranteed win every day. Who knows? That last win could be our final one.

Some might question us if we’re jobless, thinking the money might come from something shady. But I don’t think that’s the real issue here. The reason we need to deposit in the bank is all about security. Plus, there’s no need to worry if the money is from gambling winnings—we can simply show proof of our win! I’m confident they won’t decline us; in fact, they’d probably welcome the opportunity.

But honestly, have you ever seen someone win big gambling and be able to stop and use that money to improve their life and other purposes like you mentioned? I see everyone has plans, strategies and claims like you said if they make a lot of money from gambling. But in reality, after winning big, they continue to gamble because they believe they will be lucky again and can win a larger amount of money. I have never seen anyone who after making a lot of money can stop gambling or limit gambling like you said.

Most people who suddenly become rich through gambling will soon become poor again because of gambling. There is a big gap between saying and doing. It's easy to say but not everyone can do it.

It will be hard not to quit if you manage to win big money, but I agree that continuing to work at least for the first time would be the right decision. A big win is a big success, and the player will most likely consider himself a lucky enough person to try to repeat it again. And not all people know how to handle big money properly, I mean that not everyone will be able to invest it wisely, unless it is some kind of successful franchise, which can significantly increase the chances of success in business.

There will a will to get more wins every time we wins because we are too greedy to stops ourselves from playing gambling. But quit from your job after the big win is not a good idea although you can use that money to create a new business.
I suggest you to keep working on your job while you can use that money to prepares your future. That will help you to manage your money and have a better life in the future.
Those who win big may lose control over their emotions because the happiness feelings will be there and will want to get more from gambling. That is not good for them if they decide to continue playing gambling because that can be the time for them to lose all of their money.

Yes, this is definitely unacceptable. Winning while playing increases your profits and encourages you to play again. People who win big may have less control over their emotions and should try to control their emotions for the time being.

I really appreciate your your suggestions I mean it looks more like the best even though different people will tend to respond differently as to this regard, undoubtedly allowing the money to sit in the bank is kind of very crucial thing to do as to have a good time enough to make an informed investment decisions perhaps no one will want to work his or her ass out for ever, or would want to go broke after getting a life changing opportunity, but yeah some people can get overly excited and drastically take decisions they will end up regretting. I must say winning comes with an excitement but not having control of it can become problematic.

This is definitely unacceptable to do. Unless you hate your job fiercely. In general, building your life based on random winnings is a bad idea. If you win big, don't play anymore. At least for a while. That's all. The rest of the "big win rules" are just details and particulars.

Now that is some really good practical advice. I like the way you quantified things. Thanks for sharing your insights.

Always pay due taxes and you do not have to worry.

Nowadays there is no barrier except your own addiction. If you want to gamble and you have money, there is nothing in this universe that can stop you. My post is about giving perspective which one might remember (or not) and being willing to be disciplined, but it is of no use if you do not have willpower

Excellent add-ons! I think I have included the last one already though.

It is not a matter of liking; nowadays it is more of a necessary basic skill to grow and live a balanced life. I understand you are not in pursuit of making billions and you might have some other inclinations, but you have to pay bills.

You have a point here as individuals behave differently (more disciplined) in groups. 

I've always dreamed of such a sophisticated evening.
Yeah, you can never have a BIG winning because all crypto casinos combined with their joint bankroll would be peanuts for you.



Without having an understanding, you cannot have conviction and confidence in your investment, and you will not be able to handle even the slightest market turbulence, which is inevitable.

Hello Daddy!

Excellent suggestion.

You have summarized it quite well (as always ). You touched on some very crucial mental blocks when it comes to having a trained intellect, which is useful not only in managing finances but in every endeavor of life. Thanks for sharing your wisdom.

Great suggestion. If someone wants to stake their coins in a highly reputed casino, it will serve the dual purpose of locking money for a certain time and earning passive income. Although you have to be extremely careful with the selection of a casino, as the market is full of fraud.