Every casino gambler has had that one thought – what would they spend their money on, if they won a jackpot? Sometimes the jackpot slots you win can be worth a couple of thousand pounds, and whilst that might tie you over for a nice Christmas, or summer holiday, it is hardly going to alter your lifestyle. Other jackpot winners have won millions, and it is then that things tend to get a little bit more lavish, or in some cases plain silly. We all like to think that we’d invest our cash, pop it into a high-interest savings account, and not greatly alter our lives. For some jackpot winners that has been the case. The vast majority of us would blast our cash, though; but what on?
Cars and Yachts
Cars and yachts seem to be some of the most common expenses when a big casino jackpot has been won. One of them can be a fairly well thought out purchase, and the other not so much. It shouldn’t take a rocket scientist for you to work out which is which.
Many of us cannot afford new cars, so slapping down a payment on a brand new motor seems like a logical thing to do. What most casino jackpot winners get is a car that gets from A to B. Well, a rather nice car that gets them from A to B, and turns heads. Some people tend to go nuts, and buy Lamborghinis, Ferraris, and Aston Martins. There is no point in buying such a lavish car if you’ve got nowhere to put the peddle to the metal. Few jackpot winners pay that any attention.
Similarly, a lot of jackpot winners have this tendency to buy yachts. What for? Unless you’re a big fan of sailing, buying a yacht is nothing more than showcasing your vast newfound wealth. It is silly, and yet many casino jackpot winners have sailed down this route, only to regret it later.
This is perhaps one of the few purchases which does make sense. Most of us go on holiday once a year, but often we go where we can afford, and not where we really want to vacation. A massive casino jackpot can see you able to go anywhere, and at any time. A lavish trip away with friends and family can make you feel like a million dollars, and almost all stories of casino jackpot winners reveal that they are planning a trip away in the sun.
Personally, I’d be treading down this route. As I haven’t won a multi-million pound jackpot, though, I can only write about those who have. Retirement is something we all contend with at one point or another, and for most of us, we’d use our jackpot to see ourselves into early retirement, living off our win for the remainder of our years. For some jackpot winners, though, retirement is out of the question. They simply love their jobs, and so not willing to give them up and lose a major part of their lives, they keep on working. This brings with it its own problems. You still have a huge jackpot to spend.
This is easily the most sensible thing you can do with a jackpot win. To be honest, it is the first thing you should do with a jackpot win. Popping along to your bank to cancel your credit cards is a must. Only the stupidest of jackpot winners wouldn’t want to start their new life free from debt. Catalogues, loans, mortgages, and credit cards are a great way to spend your jackpot win. If you’ve won a more than reasonable amount, you should end up with a bumper stack of cash left over, too.
Friends and family
Treating your friends and family is a nice thing to do. Just watch out, though, as this can be become repetitive. Whilst most friends and family members will be delighted with a small helping hand to see them straight, or recompense for the help they’ve afforded you over the years; there is always going to be that one “friend” who thinks you owe them. Be wary of “new friends” who suddenly crop up, and feel inclined to explain all of their financial woes to you. Many casino jackpot winners choose anonymity, so that this sad eventuality doesn’t occur.
Your parents took care of you during your earlier years. If they have a hell of a mortgage, what nice way could you say thank you by clearing their mortgage for them? Speaking of mortgages, the housing ladder can be tricky to get on, and you can often be saddled with years of payments just to be able to afford a standard home. Many jackpot winners have paid off their mortgages, or upgraded to something more akin to their newfound wealth. This is a sound investment, and many years from now when your jackpot win is all but spent, you will still have a nice home to show for it, which you can still enjoy in your retirement.
Gambling and Parties
Believe it or not, frittering a big casino jackpot win is still the most common way to spend your cash. A great number of gamblers will actually continue to play online casino games, especially with their winnings. This can become dangerous very quickly. Whilst we don’t advocate giving up gambling entirely, we wouldn’t recommend suddenly taking an interest in high-stakes games. You can lose the lot just as quickly as you accumulated it, and this has happened to many a more soul.
Other casino jackpot winners have bought lavish things like football clubs, bad businesses, race cars, and hosting lavish parties day after day. Suffice to say, today you could never tell that they had won a jackpot at all.
Of course, there will always be some winners who gamble it back but never needed it in the first place. Boxing legend Floyd Mayweather scooped nearly £800,000 on a slot machine in 2017, and whilst he has thrown much of this back on his purported like of sports betting and gambling, it seems he isn’t done with the casino industry as rumor has it that he wants to build a casino in Japan in 2020!
Ultimately, what you spend your big jackpot win on is totally down to you. Be smart, don’t go crazy and you will be able to enjoy the fruit of your labours for many happy years to come.