Enjoy Your Roulette Winnings, But Beware Of The 5 Most Common Ways You Could Lose Them!
Frankly, there is no better feeling for a gambler than when he finally wins at roulette, particularly since the game is designed to favor the casinos. From the rush that fills your veins with adrenaline to the sensation that the gods are actually smiling down at you, the overall emotion is hard to describe in words. Not to mention the thousands of thoughts going through your mind about the endless ways you could use that money once the casino delivers you the check. However, reality is a cruel mistress and many players get so caught up in the adrenaline rush that it makes them sure victims for the inevitable traps. Let's review the top common ways winners could lose large amounts of cash very quickly.
1. The urge for instant gratification
More often than not, when you get to hold that big check in your hands your first instinct would be to spend it on little things that bring instant gratification. For instance, you could buy everyone at the casino bar a drink to celebrate your success. Or, if you are into cars, then the latest model of Aston Villa could suddenly become a priority on your shopping list. Without denying that you deserve a glass of the finest champagne and the best Cuban cigar, try to keep your head and don't spend it all on things you otherwise would consider a pointless investment. Best of all if your winnings come in a relaxed environment just like your home, where you can take a quick cold shower and refresh your mind. Of course that just can happen in the online version of the game when you download a casino software onto your computer to play.
2. Lending money to relatives and friends
Essentially, once word gets out about your windfall, you should expect phone calls and even visits from people you haven't spoken to in years. Given the economic situation worldwide, you can be certain that an old friend or one of your relatives who moved to another state 10 years ago needs help with the mortgage payments and whatnot. While this is a sensitive situation, sometimes it's best to avoid lending money to people you haven't seen or spoke to in 5 years.
3. Scam artists, scam artists everywhere
If you thought that the casino is essentially an environment filled with people just like you, think again. To put it simply, for each person who offers his sincere congratulations, two more that have already started devising ways to scam you. Granted, donating some of the money to charity or buying some vanity things for yourself is a good idea, but not immediately after you won at roulette.
As these winnings are not tax deductible, casinos have the obligations to announce the IRS about the amount of cash you just received. Since it is certain that you will have to account for taxes on your profit in the near future, it would be a good idea to set aside a certain percentage, preferably in a savings account, and pay them off as soon as possible in order to avoid the associated interest.
5. Debt collection
Also because casinos inform authorities about your winnings, there are high chances that your creditors will find out about it relatively easy. However, if you get a call from them asking you to pay off your debt, it is best to discuss a payment plan that is advantageous for both parties, rather than paying off all your debts at once.