The ultimate dream of any gambler is to land a jackpot win – the bigger the better as they say. Just like a lottery win it can be life-changing, but history is littered with stories of people who came into lots of money unexpectedly and squandered it all, or worse, ended up in debt.

So, what should you not do if you win that most coveted prize, the jackpot? The following explains all!

Do Not Broadcast It

The first thing to know is that nobody will ever know that you won. For security reasons, online gambling facilities like BitStarz will not publish or announce your name to the public unless express permission to do is received. Government-backed lotteries do the same. Only tell people you absolutely trust to not spread the news, and certainly don’t start posting about your magnificent win on social media.

Long lost relatives and long forgotten ‘friends’ will start coming out of the woodwork asking for handouts, begging letters will appear, and scammers will try and find ways of getting you to divulge information that could lead them to your treasure trove. Be careful at all costs when it comes to discussing a big win.

Do Not Agree to a Staggered Payment

Some jackpot winners make the mistake of agreeing with the casino or gambling operator to be paid on a monthly or annual basis. This is a mistake however, as you run the risk of the operator going out of business or losing money some other way. Casinos will have a number of financial incentives for wanting to keep hold of the money, but it is rightfully yours – claim every cent up front.

Do Not Blow it All on Lavish Luxuries

A million dollars might seem like a lot when you don’t have it, but when you have it, it is easy to spend. It is tempting to go on a mad shopping spree, but this is the time to stop, think, and be rational. Do not rush off to the realtor to buy a beach house, do not head for the Ferrari garage with a suitcase of cash – these things will get you into debt. First, pay off your existing debts. Next, put an amount aside as an emergency fund – enough for a few years to live on in your current lifestyle. Then invest a significant chunk in a low-risk financial vehicle like a retirement account.

After you have settled all your obligations and prepared for your future, only then should you start thinking about life’s luxuries, whatever they might be to you. Do not spend a huge amount in one go and avoid buying anything that needs to be maintained, or you will deplete your money quickly and end up having to sell for much less than you bought it for. Remember, Ferrari dealerships don’t do refunds.

Do Not Make Yourself Regret Winning

Winning a huge jackpot, like those in our progressive slot games, is a life-changing event. And, because of that, you are likely to be overwhelmed with emotions. When emotions are around, they cloud your reasoning. Think carefully about how you will be spending the funds before collecting them. Look for a financial adviser that you can trust – someone who can give you guidance. Learn lessons from those who fell from such heights before you, and use your good fortune to feather your nest for years to come.

Now you know how to spend it, what are you waiting for? Get finding those jackpots!