What to do with a big online casino win
This topic might not be relevant to you or me at this point, but it is something that you should be thinking about in case you hit the jackpot. Do you have a plan in place should you win a big jackpot at an online casino?
Forget about buying a fancy sports car or a big mansion. You need to have a concrete plan on what to do with your big win as soon as you strike it lucky. We have heard stories of people who have won an extraordinary amount of money, and they just left it there lying in their casino account. They just leave it there and continue to spin the reels or place bets, with the aim of gambling it away.
We can sense you’re shaking your head about this one, but it happens that some people just keep on gambling their money away, not knowing what to do with it. This happens with just about anything including lottery wins and inheritances. People keep on blowing money on random things, thinking they should have a good time until they run out of luck.
KEEP IT UNDER WRAPS.
Before you go ahead and announce it to all your followers on Twitter, make sure that everything checks out. Do not publish anything on social media, especially if you have won a million pounds playing at an online slot. Before you inform anyone, make sure you actually do have the money in hand.
And once you let everyone know about your lucky win, people will start asking you for favors and treating you more kindly. Hitting a big win at an online casino will help you much by paying off loans or perhaps fund your kid’s college tuition, but people will also think of you as the solution to their problems and will ask you for money.
GET IN TOUCH WITH THE CASINO
Before you go ahead and cash-out your big win, get in touch with the customer support team at the casino to make sure that you are at liberty to withdraw your money. Check and double-check that they are not going to catch you off guard on some technicalities mentioned somewhere in their Terms and Conditions.
You have to clear any pending online casino bonus offers. Some casinos have a rule that all winnings earned from bonus money must be forfeited before you can make any cash withdrawals.
Just give them a call or else, contact the team via live chat, to ensure you are good to go.
Most online casinos like to send winnings to a bank account rather than paying it into a web wallet or any other type of money transfer account since there are massive charges in place.
Not all online casinos tend to pay the entire sum in one go. Some casinos have rules and conditions in place that don’t allow you to withdraw the money in one lump sum, but in monthly instalments.
GET IN TOUCH WITH YOUR FINANCIAL ADVISER
Before you go ahead and splurge on a large mansion, you should get in touch with an experienced financial adviser. Research the adviser and make sure he/she is not going to sell you every available product under the sun. It has to be someone who understands money management and will help you to sustain your new lifestyle long term.
Be careful who you pick. Some financial advisers are only interested in selling and not so much about money management. A good starting point would be a reputable bank.