Best Ways To Deal With Online Gambling Winnings

28 June 2022 4 minutes to read
Spread the word

We’ve all heard the phrase; ‘a fool, and his money part ways soon.’ We ran into Danny, an old school friend, last week. We had the customary discussion about what industry we work in.

Upon learning that we’re in the online gambling industry, he didn’t blink for 10 seconds. “Is that even sustainable for players?”. Real money online casinos rob people, don’t they? I’ve heard the house always wins.” he proclaimed.

Our natural response was to invite him to our office and we explained the following to him. Also, have a look at the best strategies for USA online slot players.

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It’s Not You. It’s Me!

Online gambling sites don’t rob people of their hard-earned money. If someone loses playing a game, that’s on them. The player didn’t know when to stop.

At Onlinecasinos2, we cannot count how many times players said they never win at online casinos in the USA.

Our first question to them is, “were you ahead in your game at some stage?”. We’ve never heard a player say “no” to this question. All players get ahead of their bet at some stage during any online gambling game.

Quit While You’re Ahead

That’s the critical message. Players get ahead but wind up giving their money back to the casino. With a simple strategy, everyone can walk away with more than their initial bet.

As soon as you get ahead, lock up your bet and take a small profit from the wins. Then proceed to play with the rest of the win. If you lose with the excess win, then you’re still a winner.

Relish The Win

How good does it feel when you win a hand or a spin? Pretty good, we’d say.

Your body just received an adrenaline overload. It now pushes you to throw that money to the wind. “More, more!” your brain chemicals shout out.

Appreciate that feeling; really let it sink in. Take a small break or take your dog for a walk. Heck, do anything just to take your mind off that big win.

Write down your win on a whiteboard or type it into a spreadsheet. Doing this makes the win more of a reality. Then ask yourself, “do I want to flush this money down the toilet because my body chemistry is out of whack?”

Don’t Distort Virtual Money

We mislead ourselves when winning a round or two while playing at casinos online. We see the wins tumble into our credit meter but feel removed from it.

Players don’t see it as real money; it’s coins and digital numbers. Once we are up from our initial bet, we perceive the wins as the casino’s money.

But, no, it is not! As soon as the credit meter goes beyond your bet, that money is yours!

Be Realistic About Online Casino Winnings

We all want to win the jackpot. In reality, the chances of it happening is equal to finding a gold bar on the beach.

Do you sit down to play an online casino game with $50, hoping to win $10,000 in one session? If you said yes, it’s time for a reality check. No way and nowhere will you ever get that big a percentage return on investment.

Go Small Or Go Home

When playing online gambling games, we hit more small wins, fewer medium ones, and scarcely the large jackpots.

How do you determine the size of your online casino win? Anything winnings less than 5x your real money is a ‘small win.’

For example, if you played with $50 and get to a win of $200, that is considered small (4x).

Considering the strategy we discussed previously, bank your $50 bet and about 10% of the win.

That makes your small win a take-home return of $70 ($50+$20). So now you commence playing with the rest of the win, i.e., $180.

When you get another small win. Let’s say, of $150 on another $50 bet, your take-home is $65 ($50+$15). Add this to the initial win of $70.

Your take-home real money win at the online casino would increase to $135. The money you still have to play with will be $265.

Strike A Happy Medium

Players less often land a medium win. This would be between 5x and 10x your bankroll. The rule of thumb in terms of your cash-out percentage for medium wins is about 33% (one-third rule).

Applying the same principles, we explained above, you remain a winner all the way to the bank.

Large And In Charge

Landing a large win at an online gambling site is when your initial bankroll multipliers more than 10x.

Depending on your jurisdictional conditions, the amount of real money you win with online gambling differs. Therefore, you must consider tax issues when your online gambling winnings exceed that amount.

Using the same strategy about banking your win, the ‘quarter rule’ applies. Again, take 25% of your wins with your initial bet, bank it, and continue playing with the excess amount.

Invest Your Top Online Casino Jackpot Winnings

Yes, you may indeed find that gold bar on the beach. Winning what we call a ‘life-changing’ amount of real money playing at online casinos is another ballgame altogether.

Any amount over $100,000 is undeniable a huge windfall. However, we suggest you invest 75% of the money in a long-term investment at a reasonable rate.

Don’t immediately spend the money on frivolous high-priced items. Remember, the adrenaline is still pounding your body, and you need to take a step back.

Final Word

Danny sat in wonder when we explained the system to him. Then, he said something I’ll never forget.

“So, if winners keep playing all their wins, then only they become losers.” The moral of the story is to cash in any big win because they seldom pop.

Play here

Play Now

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