Today, thousands of people have managed to win in casinos. A few of those took the main prizes in lotteries, but there the amount was much higher. Apparently, the real problem is to spend the casino winnings wisely. In this article, ShangriLaLive shares the positive experience of lucky winners, as well as the statistics of one of the largest lotteries in the world – the British.
There are a lot of articles on the Internet about how the big casino winnings go up in smoke: the lucky one lost control, wasted all the money on parties, gifts, unnecessary luxuries and went bankrupt. Looking at the abundance of such stories, you might think that this is how most people manage their winnings. But in reality the crazy winners are a minority, although, it is a lot more exciting to read about such stories. Let’s look at the real numbers and see where the easy money goes.
Where did the winnings of the National Lottery of Great Britain go
The British lottery is known for collecting detailed statistics about all
lotteries, as well as the winners and about where they spent their money. You will be surprised at how much money is spent wisely and profitably!
So, the lottery began its work in 1994. In 20 years, 8.5 billion pounds were paid out. At the same time, the average size of the prize was 2.8 million. Do you think the lucky ones have went down the easy road? Nope. The most common expense item is investment in real estate and business.
- 32% – investments in property.
- 25% – investments in business.
- 19% – investments in own future, future of family and children, opening trust funds.
- 14% – presents to themselves and close people.
- 5% – purchase of cars.
- 3% – entertainment.
- 2% – repayment of mortgage and debts.
3% for entertainment is not such a large sum. In addition, it was found that each winner on average created 6 new jobs for the money they won. 98% of all the prizes settled in their home country, which enriched GDP and the Treasury by 1.25 billion.
As casinos and online casinos adhere to the strategy of complete anonymity, they do not posses such statistic. However, the lottery players and casino players demonstrate similar patterns of behavior, which allow you to draw parallels.
How a big casino prize is combined with work
Most people who managed to win millions of dollars in the casino leave work – 59%. At the same time, 15% start their own business, and 9% buy out a successful enterprise. 31% of successful players begin to engage in volunteer activities, 7% – volunteer in hospitals.
Such statistics are fundamentally at variance with the replicated opinion that most winners burn through their money. Apparently, because it’s not so much fun to examine the numbers.
Of course, most of the lucky ones who received the casino or lottery winnings, still continue to play. But statistics show that these people are not among the dependent players. For them, the game is a pleasant time spending for which they are willing to spend a certain amount a month. Just for fun, nothing more.
How to spend big winnings in online casinos
Experienced players who have won big winnings give the same advice: to arrange a vacation, to get used to the new situation and hire a financial adviser. And this is really a reasonable decision. 99% of new millionaires don’t have the experience of dealing with big money and act in anger. And millions, as you know, love counting, silence, and competent treatment.
The optimal ways of distributing unexpected wealth are:
- Repayment of debts.
- Buying real estate, including foreign property.
- Investments in operating business.
- Development of own business.
- Investments in securities.
- Establishment of trust funds for all family members.
- Investments in education.
Financial advisors recommend first of all to increase financial literacy, because this is the only way to save and increase your winnings in the casino.
Councils can vary greatly depending on the country in which the lucky person lives. Also the shares of investments in different directions can be different. But in any case, no one advises to keep all the money in the bank and, especially, in the form of cash. They have to work and work in different directions to compensate for the risks mutually.
If you managed to win at a casino, get ready to change your lifestyle, for the better.
The stories of people, who spent their casino and lottery winnings wisely
Brad Duke and 80 million in Powerball spent on investment.
A typical fitness instructor from Idaho, a former professional cyclist, Brad Duke won 220 million in Powerball in 2005. After paying all taxes, he had 80 million dollars left. And he set a goal: to turn millions into a billion over 15 years.
To achieve this, Duke put a team of financial consultants and analysts together, he opened his own investment company and distributed all the money he had won:
- 1.3 million – family fund;
- 45 million – conservative investments with minimum risk and low income (purchase of municipal debt);
- 35 million – aggressive investments with high risks and high incomes (real estate, oil, gas).
For himself, Brad bought a awesome bike, which he had long dreamed about, paid off a mortgage and a student loan, bought a ticket for 17 of his friends and went with them to Tahiti. Brad paid for college of all his nephews and made valuable gifts. He continued to work as a fitness instructor for another 2.5 years, because he was used to people. Then he gave himself completely to his investment company. Duke changed his way of life a little and considers himself an absolutely happy person.
Robin Hood 702 and 1 Million for the Poor
Robin Hood 702 is an anonymous player from Las Vegas (702 – the postal code of the city of angels). He purposefully began to play in the casino to help poor people. But before starting such a charitable activity, Robin Hood 702 was a businessman. By the age of forty, he had grown rich to such an extent that he flew on his own plane and lived only in luxury hotels.
At one point the businessman decided to spend his winnings at the online casino and casino in Las Vegas to help poor people. He opened a website where everyone could send his story. And Robin Hood 702 allocated money to the most desperate. Most often he helped people who were in debt because of the costs of treatment. The most famous case: the Kegler family and the treatment of their daughter’s brain tumor. Over the entire period of the site’s work, more than a million dollars has been spent on charity.
Joe Johnson and £ 10 million for a modest life
Joe Johnson is known as the most wise winner, who received 10 million pounds in 1998. He immediately invested in securities, in 2 houses in Essex (1 million), in an apartment in London (1.5 million). But at the same time he led the way of life of an average Englishman, hiding the prize from his lover Lisa. He took her to a cheap cafe, drove in a last-minute deal for 200 pounds and went on dates only in the simplest clothes. All in order to make sure that his lover was interested in him, and not in his money.
Lisa with honor passed all the trials and received an offer, a ring for 10 thousand and a wedding for 70 thousand. The couple moved to one of the mansions in Essex and lived clumsily on Joe’s profitable investments.
Allen and Violet Large and $ 10 million for charity
Allen and Violet Large are known for winning $ 10.9 million in the lottery and almost all of them immediately spent on charity. They gave money to the Red Cross, firemen, churches and even cemeteries. They have left only 300 000 $ for a rainy day.
75-year-old Allen Lurge said: “We have all we need, and we feel good.” The couple leads a quiet life without travel and plans. They even didn’t buy themselves anything, because they didn’t need anything. Just a perfect people!