Can any of us say how we'd react if we won big at an online casino?
Let's say you've been going to several different online casinos for a few years and learning several games well enough to be called a master at them (or at least a journeyman). Week after week you've put in your time and then one day you hit the virtual button, spin the virtual roulette ball or lay down your cyber cards in an online poker room and you realize, "Oh my god... I've won!"
Your heart rate goes up by a 100%, your emotions just hit full tilt boogie and your mind is already calculating what you can spend the money on.
But what would that mean to your life style? Let's say you won the proverbial jackpot at some progressive slots games and it was something really big; like around a million dollars let's say. What would that mean to your life?
Would you go out and call all of your friends and relatives? Hit the forum board of the online casino and post "I WON!!!" so that all of your peers could see your victory? There is no doubt about it that all of us, no matter how emotionally balanced or out of balance we are would react with an emotional outburst of biblical proportions. So what happens then?
Reality would step in. Considerations of federal taxes would have to be considered... well, depending on the country you live in. Different countries have different laws regarding winning big money on gambling or lotteries. So probably your best step would be to first check in with your favorite tax advisor or accountant friend. Figure out what is yours and what is now the property of the federal government. Once that is done, then you'll have to go through the process of getting your money out of your online casino account. Then comes that moment when it's sitting your bank account, completely accessible by you. What now?
If you choose to be smart, try giving yourself a small portion of the money and go out and be stupid for a while. Have fun, buy a toy for yourself. A motorbike, a skidoo or a jet-ski. Whatever; have some fun. And then hit the brakes and start thinking about what the money can do for you in the long term.
Most people who win big, are broke again within two years. How about you make a choice to beat those percentages with your online casino winnings. Become one of the few who thinks before they act!