I disagree with point number one, allowing the money to sit in your account for more than a week is very risky, if you are into gambling you would understand why. No matter how a huge a gamblers win might be he would always be tempted to make more attempts forgetting the fact that you can't always get lucky. Instead of keeping a huge amount of money in your bank account knowing fully well that you might fund your bet accounts, it's better to start making investments with it or purchase valuable items that you need, this would prevent you from throwing your wins away.
Topic: 5 Things You Need to do After a Big Win. - page 7. (Read 1631 times)
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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.
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.
For the first one, I can not allow it sit on the bank or wallet for up to a month because I already have what's so important to do with it. Everyone is not the same and saying that one should keep it sitting in the account for a month, you can not tell if the person was even in a mess that they needed that lucky financial brake through.
For the second one, what can determine going on a vacation is if your job can permit you to do so or if everyone is ready for that because you can not just plan a sudden vacation.
I agree with you on the rest of the idea. Although before one quit their job, it's better to have already have another source of income that can be generating income either on daily, weekly or monthly basis.
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I actually wouldn't consider your own monthly income as base for a "life-changing" money. Maybe just set a flat minimum, like idk, $1m or 2. Someone earning say $400 per month would get $80k. Big? Yes. Life changing? Probably not. For 3 imo, you actually DONT have to change your lifestlye. Maybe add some sprinkles in helping you manage your health via food and exercise, but outside of that, I'd say you can live relatively the same. Especially if in this case it was just 20x.
For 5, no matter what I still wouldn't really quit my job. Maybe if I started my own business, but till then, having that stable source of income is still going to be beneficial for you more than having none.
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5 things that I need to do after big win is withdraw the money. That is the most important for me because I can use that money to celebrates with my family and friends or go vacation with them. I can buy something that I need for me and my family and else so I will use the money for the right thing. I will not change my lifestyle because that can makes people around me suspicious where I get the money. I prefer to do as usual without any chance to help me hide my wins from them. I will invest the win money to Bitcoin or others so I can save the money for my future because with that big money, I can prepare my family's future with better.
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.
20x of my income is not a big amount of money to me at some point. You can say 1000x of my income or 10,000x of my income thats what i can consider to be a big win in this era. However, your points are good but every gambler will want to do what they have in mind when they have a big win. And the reason i am saying this is because i have seen people that they give advice still choose to do what they have harbor in their mind for so long. So i dont think any of this your point will be appreciable at the end of the day. Although its not for everybody. There are person who will pick out some important points here and apply it in their life. 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.
For me i go with everything on your list except point number 2. Money does not hide. If your someone known to being broke all the time and suddenly you start taking your family out for treats, to expensive dinners and so on. They will suspect that you've hitting a jackpot even if its not from gamble. It will show immediately based on what you are affording at that period. Another reason is that, when you start taking them out regularly they will keep demanding believing the money is there.
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.
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.
The whole idea is that you actually need to be a responsible gambler in order no to end up wasting your jackpot winnings irresponsibly especially by placing mindless bets again. Firstly for your first suggestion, I think allowing it sit in your bank account if it's fiat is something many persons don't agree with at that's because you would literally be losing to inflation. For me I'll prefer hodling it in crypto , bitcoin to be precise.
The idea is sometimes wasteful spending is quite inevitable for indisciplined persons because of the fact that they got the money so easy. When it comes to managing your winnings especially huge ones like in this context the fact is it takes a nice level of discipline to be able to pull off something nice from it.
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.
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.
In my opinion, a capital of 20 of your monthly incomes is not capable of changing your life dramatically.
At the same time, you will really be able to take a break from all current affairs for about a year and a half. In my opinion, it is advisable to put the money you win into a short-term bank deposit. Taking a vacation from work for 1.5 years is an incredibly valuable experience. Do not neglect it.
During these 1.5 years, you will certainly acquire new knowledge and skills, strengthen ties with your loved ones and relatives, and find new sources of income.
The most important thing is not to try to gamble with this money, do not tempt fate.
I understand that 'BIG' means different to different individuals. Here by 'BIG' I mean life-changing money (bigger than 20x of your monthly income).
5. If your winnings are even greater and allow you to quit your job, then use your time to learn finance.
5. If your winnings are even greater and allow you to quit your job, then use your time to learn finance.
Don't quit your job after being victorious from your bets, continue to work until you have invested that money in a standard investment that'll be giving you a steady profits yearly so you don't go back. Quiting sends a signal to your brain that you don't have to work again because you have made it in life and that will be the begining of your downfall. Use a considerable amount of the rewards to invest in Bitcoin and keep on hodling. You should be prepared already for when you win and not wait until you won before you start to prepare because by then, you'll be overwhelmed by the money that you wouldn't know how to invest the money in a wise way.
Futhermore, don't do anything extra after winning, don't go for vacations or spend lavishly. Stay low key and continue living as you use to because being loud attract negative energy.
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.
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.
The 20x-monthly-income win is a really big one, probably every gambler is dreaming that it will strike him. eventually. Should I have it I would step out from gambling for at least one year and spend my spare time to take lessons on Chinese with the aim being to get better understanding of this country which I love to visit, Thus, my suggestion to add-on would be the self-improvement (not matter in what field).
I agree about going on vacation. It is always useful and pleasant. Especially if you go with your whole family. And why tell anyone about your big win? I just don’t need it. Bragging never leads people to anything good. Only envious people appear, who whisper about it behind your back at every step. It’s better to keep everything a secret. It will be better and safer for everyone. Life experience has taught me to keep my mouth shut. So I adhere to this unspoken rule to this day.
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 have any suggestions feel free to addon.
Bro the step one is withdraw that money
I mean like all of it from the casino is 20x of your monthly income then it should work for almost 2 years without work.After the money lending in your bank account than you should not quit your daily job and I 1000% agree with you to not change your lifestyle and put your money now into a work 20x win off monthly income at least 100-200K right. With that amount of money you can basically invest all in into dividend stock.
I don't know about any dividend stock and bla bla bla. Bro that is simple you can pick an ETF that have ton of dividend stock in it that you don't really need to know behind it. After that you can get money at least per quarter and you can enjoy your life without work
If you have any suggestions feel free to addon.
before you start something, investment, trading, or gambling, you have to plan how to manage your fund. 1st, you have to plan your life for the next 4 or 6 months. you must have reserved funds before something happens unexpectedly. Calculate it again what your purpose, what your purpose play gambling or investment to something, create a target when you have to withdraw all funds and when you have to stop. you have to remind it again every day. Don't be careless, you have to understand the risk and what you have to do when got a big profit. 
-snip-
If you have any suggestions feel free to addon.
You've said nice things which I agree with but our first consideration should be the salary of the person, for you mentioned x20 of the salary. Some people's salaries are barely feeding them and their families, so they might need even more than x500 of it before they can be able to think your ways where they will fly their family for a vacation and reach out to a consultant for business/investment advice. Nevertheless, anyone who hits Jackpots should consider your advice to avoid attracting issues to himself. Many had done it carelessly and either wasted the money or got themselves killed for many reasons. If you have any suggestions feel free to addon.
I have a little objection to the last point you made, when we get a big win should we stop working,
I understand your skepticism regarding my last point but believe me with life changing amount it is inevitable sooner or later. Let's say instead of 20x your monthly income you have won 1000x or may be something even bigger(who knows ), I am ensuring you that you will not have enough motivation to go to your same desk job. IMHO you must utilize your time (in case you do quite your job) to learn finance (may be learn new skill). If you are that kind of individual who have this sort of discipline(going to your job even after 1000x win), hats off to you!.most important thing is that the family knows about your victory so that there is someone to remind you not to be careless in managing finances.
the second going on vacation is the same as having a spree rather than using the money for a vacation I would rather think about how the victory can make money such as immediately investing or using it for business if you are successful you can think about going on vacation with your family and friends.
the second going on vacation is the same as having a spree rather than using the money for a vacation I would rather think about how the victory can make money such as immediately investing or using it for business if you are successful you can think about going on vacation with your family and friends.
You have a valid point here, specially if you are not financially disciplined enough like me
. If someone whom you trust knows about your sudden fortune, he might help you to remain in discipline, may be forcefully.Going on a low cost vacation is not same as 'spree'. You immediately need to divert your mind from dopamine and adrenaline rush and it will serve as method to calm yourself to take better decisions with sound mind.
1. If you decide to keep your money in your bank for a month and not gambling, you can avoids gambling but you must distract your minds from using the other money to gamble.
2. Having vacation with your family and friends can makes your relationship more close with them. But in this matter, I agree that you don't have to tell much about your winning.
3. This is what you must do to prevents curiosity from others. They can easily say that you win much money from gambling. But if you don't tell them and you are not change in anything, they will not guess that you wins huge money from gambling.
4. Winning big money means we have much money that we can do for many things. But we must prepare our future so we can have a better life. Investing is one option that we have such as Bitcoin investment so we can have another source of income that will gives us more money.
5. Before you have a passive income, you can still work as usual while you are waiting for your investments gives a big profit. But if you think it is better to quit your job, you do that.
Whatever you decide, you must think twice and know the risks because you will face it. If you can accept anything that can happens to you, you can continue what you want.
2. Having vacation with your family and friends can makes your relationship more close with them. But in this matter, I agree that you don't have to tell much about your winning.
3. This is what you must do to prevents curiosity from others. They can easily say that you win much money from gambling. But if you don't tell them and you are not change in anything, they will not guess that you wins huge money from gambling.
4. Winning big money means we have much money that we can do for many things. But we must prepare our future so we can have a better life. Investing is one option that we have such as Bitcoin investment so we can have another source of income that will gives us more money.
5. Before you have a passive income, you can still work as usual while you are waiting for your investments gives a big profit. But if you think it is better to quit your job, you do that.
Whatever you decide, you must think twice and know the risks because you will face it. If you can accept anything that can happens to you, you can continue what you want.
2. Don't forget to pay off debts that may exist as a result of our gambling so far.
I will not recommend gambling when you still have debts to pay. What will your loaner think when they find you gambling? Even if your intention is to pay them back, it won’t look like that to the loaner. It would seem like you are being irresponsible. But if you do manage to earn some money from gambling and you still have debts to pay, make sure to prioritize your debts first. Don’t use your money in anything unnecessary. Living a debt-free life is a luxury not everyone can achieve.Quote
4. If possible, of course it is better for us to quit gambling after such a big win.
Yup. Don’t think you can win some more and risk losing everything you just won. Take your winnings and try not to be greedy. Accept what you have done and move on and gamble only again when you have collected your winnings. 
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.
I think what you mentioned above is a wise way to manage big wins in gambling, after the upheaval that occurs in gambling when winning or losing, of course we need refreshing to clear the mind, so that indeed the impact that occurs on gambling will not affect our lives both mentally and physically, the 5 steps have been very wise in my opinion, but a little advice from me: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.
1. We can save most of those wins for the future
2. Don't forget to pay off debts that may exist as a result of our gambling so far.
3. Ensuring that the winnings provide long-term benefits.
4. If possible, of course it is better for us to quit gambling after such a big win.
In addition, using the money from winnings for investment seems to promise us more financial stability than for us to return to gambling after the win.
I agree about going on vacation. It is always useful and pleasant. Especially if you go with your whole family. And why tell anyone about your big win? I just don’t need it. Bragging never leads people to anything good. Only envious people appear, who whisper about it behind your back at every step. It’s better to keep everything a secret. It will be better and safer for everyone. Life experience has taught me to keep my mouth shut. So I adhere to this unspoken rule to this day.
Quote
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.
In my opinion, points 3 and 4 are the most important because that way we will still be able to use the winnings as best we can and avoid all excessive extravagance, moreover changing our lifestyle is the same as making things difficult for ourselves in the future.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.
In addition, using the winnings to invest or do business is wise attitude because it can slowly make us able to continue living life with everything sufficient for very long time, this will change us into someone who is able to manage finances and still have more secure income.
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.
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.
Okay, let me also clarify you that any money that doesn’t add will definitely go down. In as much as you will advice one to let the money sit in their account. One month is too much for one to just sit back and be spending the money no matter how careful one could be. Spending everyday isn’t the same. As you can spend more than your budget when certain issues arises. It’s best to say let the money sit in your account for at least a week while you get your head on something meaningful to do with the money. A gambler who wins such a big amount of money can’t stay a month without doing anything and you don’t expect them to be tempted to stage with the money they have.
Though this depends on individual factors. But then delay is dangerous.
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