Topic: Gamblers Should Have a to Do List In Case Of winning A Huge Amount (Read 223 times)

Thank you for all the replies here; we have different opinions on the subject, The majority favors creating a list, some suggest it is all about money management, and some base it on character even if you have a list if you don't have the character it's all worthless.

My closing opinion:
We all dream of hitting a jackpot it should be something we anticipate even if we don't expect it to happen, It is better to have a list so that in case we are confused we have something to remember that will remind us of something that we want when we don't have any.

Thanks for all the 46 replies I have to lock this thread to avoid the topic becoming redundant, I'm on the next topic.

Isnt it called a money management? People dont have to create to-do lists, but instead learn how to manage their money. Or maybe I am a unique one of a kid looser, that goes shopping with a list, and returns always with something extra Instead of having a to-do list, rather have a person who will help to control your expenses. Because, what if my list is to long, and what I have won isnt enough? Wont it trigger to continue gambling to fulfil all items from the list?

Also, my to-do list when winning huge is always changing. Sometimes when I go to sleep, I used to think what would I do if I was rich And guess what, there is never enough money I used to dream I would win a million. But then it was not enough to buy house, car and all the fancy things I wish to buy for my family.

Even he have a to do list, will he follow the to do list after win a huge amount of money? I believe no.

Most gamblers are always like that, they will spend as much as they want without thinking about the future, if they run out of money, they will think they can just back to gamble and make money again.

There's a big difference between someone who already in since born and poor since born, sometime getting rich overnight is bad.

Yes, organization is the key for a correct management. What happens is that these jackpot winners have never seen a huge amount of money in front of they eyes before, so they don't know how to make use of it in a smart and wise way. The money is so voluminous that these people think it will never end, so they don't plan how they are going to use it. They just use it as they wish on the present moment. As consequence, the money drains really fast until nothing is left.

The first step they should take is to list investment categories they should engage to put part of the prize, calculating how much it's going to generate monthly and yearly. If they don't have knowledge about it, they should seek for professional guidance. Since money isn't an issue, it shouldn't be hard to find skilled financial advisors to give them the right direction inside financial market.

Once the prize they won generates extra income in a regular basis, they can feel free to spend the income they are making, without ever harming the initial sum they used to start the investments. This way they can live an entire life without worrying about financial problems anymore, turning that prize into a long lasting asset which will ensure the future of their families for generations, possibly, if correct management is applied.

In spite of all these as stated in the OP, I don’t see why a “To Do” list is necessary or could be a major game changer with regards to gambling wins. It’s simply individual differences, discipline and how one reacts to major changes in their finances.

In the minds of every single, thinking individual is and unwritten plan on what you need to archive through the times you hope to exists as a being. It takes a disciplined individual to actually follow that up. You don’t have to write it, it makes no difference. If you’re committed to getting better and knows just what is good for your well being, you would go about doing it. Not because you’re being pressured to or because you’ve got a big win from gambling, you just use the resources you’ve available to you to make life better with you.

Having to hope that your break through would come from gambling, making a huge win only to spend it all and come back for another trier with what is left, that’s just you not realizing when you’ve actually won.

I don’t think gamblers should have a to-do list in case they win big. The reason is this; there is no guarantee that you’re going to win in gambling so having a plan for money that you’re yet to win may make you start chasing losses and gambling excessively. Most people who win the lottery do not expect to win and are not prepared to handle such huge amount of money. If you have a plan for your life, winning a million bucks overnight will only help hasten your success but if you did not have a plan prior to that event, you are likely to squander it all.

There is no difference from what you have said that happened to them and if they have made a list before wining. The truth of the matter is that they may still do list, after wining they may still make mistakes again. Because all these activities they did after winning as you have said may have been what they wished to write or do a list before payment, but was not fortunate to write it down. So to me, list or no list it doesn't really matter, what matters is to have a right place to invest money after winning. Because a person may still wright down a wrong approach on paper after which they may still spend all the money wrongly. It's just to have a focus, think and concentrate on how to do the right thing at the right time.

That would be optimal but I doubt many gamblers will be interested in implementing such a strategy, and this is because many of those gamblers want to obtain fast profits and they are not interested in creating a meticulous plan about what to do once they succeed, what they want is to enjoy their profits in whatever way they see fit, so they will not be interested in doing something like this, even if it is on their best interest to do it.

Aside from that fact that many will be carried away to think that they will win more money from their previous winning there by over extending their luck and at the end lose even more, I think also why many gamblers can't have to do list is because pf.the reason that gambling winnings are always unexpected and for that they won't have any plan for the money and will be push to use the money no matter the amount to wastefully gamble more.

Gambling is not like any other business whose outcome and profitability can easily be expected and predictable, where one can have pre plans for what to use the profits for, but gambling is a different ball game entirely and I winnings are nit expected and unplanned for so also is the usages of that rewards.

Firstly, if I'm in this position of a gambler who won that huge amount like for an example thousands of dollars? I preferably take an action plan in which eventually minimizes my gambling activities. Probably, I'll be taking other curriculum like with physical activities that would rather divert gambling as an alternative.
Staying with gambling for a very long time actually drains your financial opportunity, same with other financial abuse that has no proper way of addressing. On that list, it's very important to indicate your budgeting plans and other money spending related task which is not associated to a gambling plan. Most importantly, don't you dare doing gambling again thinking that you'll gonna multiply the funds that you got from Lucky winnings because opportunity comes only once, don't waste it again by losing that money from you.

Everyone has it principles of spending, their no gambler who is interested in spending much of their time and much of thing's  they acquired in gambling extravagantly, thinking above when you have not win in gambling will also bring thing's down for my own principles of understanding the protocols, I know very well, so in gambling we have to understand that what you think might not come in accomplish but understand the procedures of gambling and know exactly what you will do when you win or not in gambling, building of future is one of the most in important thing because sometimes gambling derailed some people not to be focus.

I'd say it depends on how responsible you are, especially to extreme changes. I'd personally say I don't need it but in the back of my mind, I'm an ass on handling my finance especially when there's a sudden influx of money so yeah, I'd probably want a todo list. It's not to the point that I need to prepare it beforehand but if I do ever win, I can probably take the time to plan out what I'm going to do with the money I got. And again, it depends on a person-to-person basis but personally, I'd invest. Businesses can be extremely money sinks and I have 0 experience with it so why would I do it lol.

But anyway I can't exactly blame these people who floundered on the money they got, it is extremely life-changing after all so I guess they expected everything to run smoothly after that. Not to mention I expect that even if there's a lot of news like these people, there's probably a lot more unreported ones that managed to properly use their money.

Whether you have money or not, it's not easy to run a business to be a successful one talk more of people that manage it. I just know that noting is certain in biaii until you made it from the that business.

Sometimes gambling money amount is not something you even expect, you just do your bet and become optimistic with the rest, so tye assumption of having something on mind before any other thing even winning the money doesn't make any sense. What if you won something from gambling and you couldn't even make to what is your mind that you are planning to buy, it will look like another money that wouldn't last on you.

What I think is the best in situations like this is converting your total gambling earnings into Bitcoin, this way you are making investment in that you can sell your Bitcoin for something better later on and you get to buy everything you want to buy.

One of the worst thing to have ever tried was venturing into a business he has no idea about.... Decision making is also a thing; how do invest in a business with knowing the prerequisites on how to maximize profits? You could employ labour, Yes... Without a doubt, but how do you get to know where there's shortage?
"Ignorance is bliss, but illiteracy is mindlessness".. in whatever you do, always try to get yourself tutored. Nothing beats the fact that you know a thing to yourself, without needing possible aids to run them.
Having a Do-do list is important!

It would be a good idea though as a gambler to sometimes make a to do list or lest just say a plan of how we might spend our winnings. But this shouldn't be done, not until we have won. That because we can't make plans for funds we haven't seen. We might ended not achieving any of the plans because winning is not guaranteed both in gambling and other aspect of anticipation. We just have to get an idea of what we might use the funds to do but never make it a mistake do thing just incase we don't get to see the funds. From your thread, the second guy. It show more reason why we have to be open to research and try our best to learn things out self so others wouldn't play with us or cheat us. Some people are just too wicked. Someone ask for your help and you just cheated them along the way, which isn't fair.

gambler or not, people should at least have a list of things on what they will do with the money. it's a common thing to have if you value your money and want to save as much as you want.

anyway, if the winning amount is very big(I mean, lotto jackpot big or millions dollars win in gambling) it would be best for them to hire a financial advisor, they'll know the first steps you need to take to secure your money and they'll give you advice how to manage it and how to properly invest it.

They are wishlists but before having that, I'd wait for the moment of mine to win first a huge amount than to keep my lists ready.

But it depends to the gambler, if we've got some belief that we will manifest those things that we've listed then make that list for your own convenience.

To win, first. 

If you are someone whose really that thinking about those better things that could give out that kind of positive benefits in the future then you would really be having this kind of option but for those who dont
care about the future then they wont really be that caring about on the things that would happen ahead. Actually you cant really be able to assure yourself that you would be able to stick into those  things that you have said earlier specially if you are already on the situation on which you are holding that huge amount of money then you might really be that forgetting those things that yo have planned earlier.
Each person would really be that different when it comes to the decisions that they are making into their lives on which there would really be those people who would really be that
mindful and there are ones who dont really care.

People usually be making that priority.

1. Buying a house
2. Car
3. Jewelry
4. Gadgets
5. Shopping spree
6. Travelling

but they do forget on running or building up a business. They would usually be that mindful on the moment that they
are seeing that they do only have that almost nothing left with those winnings or money.

I don't think such list is needed. If you can't manage your money, making a lost won't change much because you won't follow it anyway.

People who know they will get overwhelmed by a large amount of money should just get a professional manager to do it for them. An investment banker can take all that weight off your shoulders.

All these things you mentioned does not help the topic at hand - being anonymous doesn’t not mean the person won’t spend their winnings carelessly and the lawyer will be a bit helpful but if the person decides not to spend lavishly on properties then they won’t need too much help from a lawyer.

Back to the Op, I believe all gamblers should have a top ten things that they should do in the case that they win any huge amount in gambling. Even if they don’t write it or document it they should just have it at the back of their mind that once I’m able to win this amount or more the first thing I’d do is probably save this amount, this skill I have I’ll set up a business for it, I’ll go and complete my training and so on. Stuffs like that would be more better than going for flashy things. This is just my opinion.

If you do not have a plan then you are not hoping to win the jackpot, having plans means you are being positive but having a plan and a character to implement are two different things, you should be the guy who knows how to stick with the plan and go for it even if there are oppositions or people are criticizing your plan.

When you win the jackpot you should have a strong character that will take over the plan, so the first step should be to learn to take over and have a character to follow the plan.

It is very frustrating for those who lose everything in gambling due to mismanagement or ignorance. Having a to-do list is not only important it is most important things for gamblers. I think the first step they need to take is to be as anonymous as possible. Keep your winnings private. I think gamblers should consult lawyers to resolve tax-related matters.  From my perspective, I think a gambler should take these steps.

One thing that would be most important to people who do win big, which is about as likely as being hit by lightning, is best financial practice and how all the core elements of the financial world work. This will allow you to hopefully put a large chunk of your winnings to work and effectively give you a salary, plus grow your overall wealth, year after year. There should definitely be a period of sharing and splurging at the beginning, so it really depends how much we are talking about and how far it can stretch in the places you want to be. If you are talking about a million dollars, it can go very far in certain parts of Asia but will not last you all that long in somewhere like San Francisco - so be prepared to move to maximize it too.

Overspending is a huge problem for winners, especially when they chase happiness not knowing what they really want. So they end up buying a house on the beach and another in the mountains to try them both out and spend money maintaining both properties and traveling between them, when in reality they should rent properties in these two places at first to see where they feel better and finally decide to buy one. I wouldn't go as far as having a to do list because that may excite you too much, make you waste your time on thinking about things you may never have. Just focus on paying your debts, setting up a savings account, getting some investments (bitcoin is a great example) and then when you've done all that finally start spending.

Here in our country on which its a jackpot winner on lottery but ending up on living on the squatters area because of mismanagement of the funds that he had won in lottery which it is really
just that too sad that these people arent that wise when it comes to managing their money. We do know that hitting up lottery or any jackpot in gambling world isnt something that would really be that easy to be happening. This is why it would be ideal that you should really that managing on the moment that it would happen. Dont waste up the chances that you could make money and sustain yourself on upcoming years to come without needing to go back on what you are before. If you are someone whose really that mindful about future things then you would definitely be having this approach.

Regret is always at the end and dont make yourself that having that kind of situation on which you are really that regreting because of the actions that you have made. There's no way that we could
really be getting it back and this is why you should really be taking wise or good decisions about fund management if ever you are on a condition that you are hitting those jackpots.
Be sensible and be wary about on the actions you are taking.

On the moment that you would really be having those huge winnings then the main thing that comes up into your mind is that those money do came from thin air on which it is simply not really that coming from hard work
and this is why you would really be having those thoughts and impressions into your mind that you could really be just that simply be able to earn that back on the moment that you do bet on lottery again. You would be having in mind that you do have tons of money on which you wont really be easily find yourself that getting bankrupt so easily. Yes, you would really be spending like a mad man but we do know that there's no such thing about that unlimited funds on which on the moment that you would really be that careless on dealing up with this then time comes that everything would be losing all.

I don’t know if it’s worth writing a list of things that need to be done when you win, but the most important thing is to be able to control yourself, because if a person writes 100 points that need to be done after he wins, but does not have the strength in himself, then most likely after he will get a big win, but he will still spend the money not very wisely. Secondly, to win at least once in your life you must be very lucky. There is a high probability of writing a wish list, but never getting to them.
Wisdom to all!

You know it's good as a gambler to have a plan for themselves but not by having many list to fulfill most times it makes gamblers become so desperately to win the amount they had on their list because I know that whatever they put up on their list must contain series of dollars so if by working on the list they already created for themselves then it would make them gamble uncontrollably making them to become a desperate gambler. It depends though because some people wins millions so for those who are very close winning thousands/ millions of dollars can as well have their plans listed out to enable culture their behavior when the winning shows up later run.

I think we are the same as the country that OP belongs to, because we know that most of the lottery winners here who become millionaires are only a few months or, after 1 year, back to being in a poor state of life because they didn't use it correctly. the money won in a large amount.

It's like counting on our fingers the ones that can be said to have been used correctly to win the lottery. But the majority is not really; there are those who won 1 million dollars in just 3 months, and the winnings were used up immediately. The others were consumed by giving help to acquaintances and giving support to relatives and family. And others are addicted to gambling, so they are in debt. So the listing, I think, is not important in my opinion.

It is true how much a to-do-list can help a gambler spend wisely his money won from gambling. And for a gambler to set up a to do list in anticipation of a potential huge win it's therefore entails how financially conscious and discipline he is with his gambling lifestyle. With a to do list, it serves as a guide for a gambler to know where his spending should start from before any other focus that could lead to mismanagement of funds.

Although there some gamblers that don't necessarily need a to-do-list to have their huge win money to be directed into right spending. I myself have a few projects in mind of which some I have it underway incomplete, and that's where without a flinching thought that my focus will directed.

A lot of factors also play a role in affecting how unwisely some gamblers waste their huge win, illiteracy, a lack of responsibility, a lack of financial discipline and lack of exposure etc. They could serve as a debacle.

There is not necessary for any do list or something. What that is important if you win huge amount of money while gambling is to have in mind not to spend more than 1% of the money won on gambling. But some people will think that they can have the luck again and dreaming of winning more huge amount of money but eventually they will lose the money. There are businesses and investment that are not risky but they will just prefer to be earning from gambling which is the cause of the problem. Gambling can make someone that is rich to become poor if the person see gambling as a means of income and not use his money on business or a good investment.

It's like bringing a to-do list that we never get to use.

I get it, most people who win lottery end up making the same instead of using the money productively and increasing their standard of living but it just shows the nature of people even if we give 1 million to everyone on this earth and in the next one year there won't be many people who have more than a million cause they don't even understand the money and how it works.

If a gambler has no financial discipline the list will not matter when they win a big amount of money because they will forget about it, dump it and start buying wants instead of the needs that they've written down on that list.
The first step every gambler should take when they just win a huge amount of money is to allow the money to cool down, that is not spending the money in a hurry or in a rush like under an emergency or like the money is not going to finish. Money spent in a hurry will be spent on many irrelevant things.
Knowing that there is a chance to win huge whenever you gamble, you should make a plan to develop financial discipline as a gambler.

Lol, gamblers like myself honestly do not need a to do list, since my brain itself already contains more than enough to do lists, things I may never even finish if started 😁.

On a more serious note though, it's simple, may be those guys never really had any plan on what they could do with such money if they win, and eventually, they won it, its expected that they may squander it.
But for gamblers like myself, even if I win up to $1 billion dollars today, not a penny of it will be wasted (well, maybe a few thousand dollars though, but this depend on what our individual definition for "waste" is) as I have already made concrete plans of all the projects I will go into/excute as soon as I can afford to start it.

So for me, I do not think gamblers having a to do is necessarily, this can drive a gambler into betting or gambling much more than should be normal, which also can lead the gambler into losing much more than he or she can afford to lose - better to let winnings come naturally when a gambler isn't expecting it.

Whenever I even consider winning a large amount I think I would just buy a house and make a trust for myself so I could just earn a sustainable income and work on my own projects without having to be worried about earning an income as a worker at someone else's disposal anymore.

Many gambler's however have more basic needs to fulfill also because many people are in debt, have no education, their family had nothing in terms of property etc. So of course it varies highly from person to person and so the need for a personalized list is making a lot of sense. Make it at a time of peace and try to follow it when you have the rush of winning.

A few of those situations could've been also avoided if they claimed their winnings bit by bit instead of taking them home all in one go. Still, it's important to have a plan or to-do list to avoid making bad financial decisions, but I agree with the others, you have to get that jackpot first.

If i'm one of those big winners, one of the many steps i'd take is to set most of those winnings aside and continue my normal life. I'll take my time until i'm confident in my plans and i'll use that money to create another source of income and think of my situation in the future years.

Yes.
After announcing the winning numbers and making sure that we won the lottery, the first thing we should do is to have a to-do list of what we will do with the money.
Or, keep it safe in the bank first while thinking about what business we want to enter or what else we want to do with it.
Take 10 percent of it, try to live in luxury but there should always be an end to that. I guess that 10 percent can make us live like a king for a week or two and then we go back to our normal life.

For me, I always thought about buying real estate. Here in our country, the price of a house grows like $2000 per year then you could just let it be rented by someone else to pay for the monthly mortgage.
Food business have no assurance so might as well buy something that would not spoil or rot.

Yes gambling is very addictive. A person who uses atic for fun never cares how much he wins and how much he loses.   They always enjoy gambling and gamble as much money as they can afford to lose. But those who are going to calculate their profit and loss in the case of gambling, if they can make some profit from gambling, then their interest in gambling will increase because the greed of money will attract them more towards gambling. so it is foolish to calculate the profit and loss of gambling. Gambling should always be played for fun and the matter of profit loss should always be forgotten immediately.

It’s not bad to have this kind of list as inspiration or to feel motivated when gambling since it will give gamblers a positive energy to stay calm while gambling. Problem will come when gambling is already overthinking since it might fuel his addiction just to get his goal.

I stop doing this long time ago since it makes me more aggressive to gamble especially on betting with games with volatility so that it can give me a huge return quickly. I consider gambling as source of entertainment and everybody should do the same. The entertainment is the benefits of gambling while money especially huge win is just a bonus to avoid too much expectation on gambling.

I know what is better than a to-do list, a to-no-do list. With a to-no-do list the gambler can list of the stupid things they will not do when they eventually win. And these could include, wine, women, buying fancy stuff for show off , to impress people who do not care, more  reckless gambling, starting a business where they do not have experience or knowledge in. To make the to-no-do list effective, they should have an accountability partner. A elder, mature adult with years of experience. With a to-no-do list, you automatically have clarity on what you actually want and if it is worth it.

I like this one. It prevents spamming. Because at some point it is mostly going to be the same answers in different format.

I think everyone has a to-do list whatever their life situation.
If you are a gambler with no family of your own, I think you are bound to spend a lot of money going places and spending it with your friends which is on your to-do list.

With a family of your own, you may plan ahead of time for the college of your kids and so you will more than likely have a to-do list and to-buy list.
Or maybe if don't want to go back to the challenging life like having to work and and gamble. You will have a to-do list like buying shares/bonds that will generate enough money for your retirement.

I already have a to-do list, and it's on my mind; I think it's more effective that way because you can play it out in your subconscious mind, and you will remember the first thing that will come out when the time that you win a huge amount of money.
My first step is to lock 90% of the money in a short-term deposit on several banks until I make a detailed plan based on what to do that I projected in my mind with my winnings that will last for generations.

That's the stupidest idea ever. I mean, if you were lucky once, what makes you think you'll be as lucky again soon? Don't spend the won money on luxury cars, houses and jewelry, rather spend it on your education and then such stupid ideas won't be bothering you in the future.


Again, it's a mystery to me, what makes people think that the only thing they need to succeed in a business they don't know a thing about is money?


That guy actually performed better than any of them above. At least he got something. But I don't know how can he spend his money wise if he can't read and write.


First, you should win, mate, and then do the list. But do it right away after your win, that's what I think.

I think it is a good idea, sure. Having some fore knowledge on what to do in case of having much money would prevent overspending, since most new-rich people do not actually care or are not fully aware on how to avoid losing on unnecessary things , as in the case of one of your examples.
Though, I think it is necessary to point out this idea you are giving does not only apply to gamblers of people who like to play lottery, it also applies to the rest of the people out there who have plans and would like to do some specific things with their life and when the moment comes, they will. It does not have much to do with suddenly becoming rich, even someone who receives a raise in their job and can save up money can keep their list.

Also, The example you give on the guy who was unable to read and read is certainly concerning, because someone who is in such situation is not supposed to be gambling at all, but rather trying to complete their education.

I guess it won't be going as planned. Imagine experiencing something that rarely happens to all people which is winning a huge amount from gambling. It is normal to be excited of it but unfortunately, not all people are financiallly literate when it comes on shifting a lifestyle. Initially, an individual who haven't experience earning big amount of money, will just be depending on what they see online such as display of luxurious life and engaging to business without doing the right process; just the idea of having  their own. Unfortunately, if they won't be starting with a plan, no amount of money would last that long being mismanaged.

What to do of course is to to plan how the money should be spent, and on this instance you are doing things wisely already. Invest in knowledge as well if you are aiming on starting a business. It is okay to buy cars and such but be sure not to be using an amount which would consume a big chunk of your reward. The best mindset is to seek for longevity of your winnings than to just chase for joy and clout.

The reason most gamblers who win big lose their fortune is because of a lack of planning. They are not prepared to handle large funds so they end up wasting money on luxurious instead of profitable investments. I agree that everyone, not just gamblers should have plans for large funds because anybody can be fortunate to make money not just from only gambling.

For those who don't have any plans before they win big, hiring or consulting an investment professional will not be a bad idea. Some investment experts can give good advice that can help big winners invest wisely. Those who are not educated could get a lawyer or a financial manager to help them take care of the funds instead of entrusting them to family members.

It is an interesting topic that is worth discussing. I don't see any reason why it should be locked after 50 replies. I think you should allow the discussion to flow naturally.

For a gambler to have a to do list if he wins big is not important. I understand why it is important for some people based on some reasons that you mentioned above but what if you have write down the to do list and you did not hit the jackpot. Don't you think that doing this list can put your mind and focus more on gambling for profit rather than for fun and entertainment which might later trigger addiction because whenever you look at this list you might be motivated to gamble more.

I don't need any list because I have a plan of what I want to achieve in future which it is because I don't have enough money to set it up. Meaning if I win huge amount of money I will execute my project with the money I won.

You should also know that as long as greed is involved in gambling, a gambler that does not have self control over his gambling activities will still lose all his win back to the casino, if it happens that he wins huge amounts of money because he has seen gambling as a means of making a fortune and he believes he will win bigger amount than want he has already. This is why majority of gamblers that win huge amount of money don't care to invest it.

Betting on Lotto is very popular here in our country. While scrolling on YouTube, I stumbled across a video about people who won the lotto but eventually lost all their fortune quickly through mismanagement or ignorance.

I cannot post the video as it is in our native language, but one of the examples is one guy who loses his millions because of overspending. He realizes all that he wants: luxury cars, houses, and jewelry and spends it on casinos, thinking he can make more money.

Another one is setting up a business that he does not know how to manage, he spends millions on this business venture but eventually folds up, and he loses all his fortune because of mismanagement.

Another winner is he entrusted his winnings to his relatives to claim because he did not know how to read and write and had no valid ID; he only got 20% of his total winnings because his relatives told him because of a deduction in the form of taxes.

With all these examples, do you think it is important for gamblers to have a do list in case they win a huge amount, and what are the first steps they should take?

Will lock this thread after 50 replies or within five days.