Leaving Las Vegas with money left over is a rare feat for the typical gambler. And it can completely catch you off guard if you’re unprepared.
But once in a while, you’re going to get lucky and actually win. This sudden windfall can throw a lot of recreational gamblers into a whirlwind of emotions. What should you do with this extra cash?
Okay, there’s no correct answer for everyone. However, I recommend keeping the following suggestions in mind.
Here are seven fantastic ways to spend the money you don’t lose in the casino—at least you won’t be entirely caught off guard when the moment arrives.
1 – Take a Trip
One of the absolutely most rewarding things you can ever do with your money is travel. The world is full of unique places and interesting people. You’ll miss out on beautiful experiences that you’ve never considered by staying in your cozy corner of the planet.
International travel may be challenging depending on how much of your bankroll survived the casino. Fortunately, there’s likely a hidden paradise within driving distance.
Let’s suppose that you enjoy wine; small wineries can be found all over the world. Many have boutique cottages on the premises.
This sunrise surge must’ve been what drew the first humans out of the cave before the advent of coffee.
Solo travel certainly has its place in the world; I spent plenty of time doing so myself. Still, the memories made while traveling with friends and family are priceless.
Whether you fly around the world or only trek a few hours from home, travel is a fantastic way to spend the money you don’t lose in the casino.
2 – Payoff Debt
One thing that many people face every payday is their debt. Sometimes, this debt stems from student loans, mortgages, or medical bills.
Others face debt from reckless spending in the past. Regardless of where the debt comes from, paying these creditors off feels incredibly satisfying. You’ll also be able to take a big breath of relief as the final payments are made.
There are several doors that large debt may be holding closed. It may be difficult for you to purchase a home or buy a new car due to the mountain of debt you’re smothered under.
Take the extra cash from your casino trip and put it toward paying off your debt. The satisfaction of paying the bills down also comes with several other benefits.
As you clean the slate with creditors, you actually free up money each month for other expenses. Imagine what you could do with an extra $200 per month.
Paying off debt isn’t the most attractive option for spending casino winnings, but it may be the best decision you can make.
3 – Invest in Crypto
Let’s suppose that you’re not covered in a mountain of debt and prefer to prepare for your future rather than travel. In that case, you may look at investment opportunities.
I’m a firm believer in hiring a professional to do my investing for me. Hopefully, we both make money. I’d much rather pay someone to make money than merely lose it on my own.
Look at what happened with Bitcoin; early investors made millions in a short period. However, crypto can be highly volatile.
The way I see it, you’re playing with house money. So, you’re probably better off taking a chance on one of the up-and-coming cryptocurrencies than handing it back over to the casino.
Get in on the excellent crypto early, and you could turn a few hundred dollars into hundreds of thousands. Obviously, this is the best case scenario.
Still, it’s not unthinkable that you could double or even quadruple your extra cash via crypto.
4 – Help the Less Fortunate
Some of you are likely going to blast me for not putting this at number one, and much of the rest will skip straight to the next. But helping those in need may be among the most rewarding things you can do.
There are millions of people around the world that need some sort of financial assistance. As you’re already aware, many of these people are right in your own community.
This help may come from a local food bank or shelter. I’m not advising you to walk around downtown and pass out $20 bills. In fact, I encourage you not to never give cash directly to a needy stranger. Instead, you can investigate online and find appropriate resources.
The extra cash may not mean much to you, but for a struggling food bank that helps put meals on the tables of your own neighbors, it could mean the world.
Most of us have it pretty good, and it’s our duty to lend a helping hand. If you’re leaving the casinos with cash in your pocket, you’ve got it better than most.
You may find that donating to a deserving cause brings more joy than you ever imagined.
5 – Pamper Someone Special
Alright, I tried to get you to perform some grand philanthropic gesture. Perhaps it struck a chord, maybe not. If not, I have the next best thing for you here. Take that extra cash and pamper someone special in your life.
Whatever they happen to be into, trust me, the gesture will be well received.
6 – Save for the Future
My grandfather was a World War II veteran that grew up on a farm in rural north Texas. That man had money so old that it had rust on it; he saved every penny he could.
Because of his efforts, I’ve had a pretty good life. He always instilled the importance of saving for a rainy day. Admittedly, there’s room for improvement. Luckily, I’m getting better as I get older.
If you take that extra cash and put it aside for the future, you may end up changing lives. College tuition is expensive. And if you want to earn a degree, you can’t rely on scholarships.
One of my grandfather’s last things was to start a college savings account for my daughter; she was not more than a few months old when he passed.
He personally invested in her future and guaranteed that she would attend college without any of us going into debt. I use college tuition as an example because that’s been my experience. You could save for anything you wish to obtain.
The fact is that you’ve been given an unexpected gift, but it’s still your money. Use it wisely, and the dividends will be much more significant.
7 – Take Up a New Passion
Gambling is a fantastic hobby, but it can become a burden if you’re jetting off to Las Vegas every time you need a fix.
I encourage you to consider using the extra cash to take up a new hobby. That will give you something to occupy your time between casino sessions.
Most hobbies will allow you to get in for relatively cheap. You can get into the following hobbies for as little as a few hundred dollars:
- Disc Golf
- Working Out
These are merely a few of the available choices. The list goes on for miles, but you get the idea.
The bottom line is that it’ll be best in the long term if you varied interests among different groups of friends.
Walking out of the casino with extra cash in your pocket is a rare feat for many recreational gamblers. If you’re serious about taking your casino gambling to the next level, the best thing you can do is build your gambling bankroll.
However, these seven fantastic ways to spend the money you don’t lose in the casino will allow you to have fun or make responsible decisions for the future. The choice is yours, and there are no wrong answers here.