Most gambling legends are riddled with stories of incredible hands or rolls, and head-spinning high winnings. But what many people don’t know is how the lucky winners actually end up spending their newfound fortunes. That’s why we’ve put together a list of the top 10 ways people spent their gambling winnings!
FedEx Owes Its Existence to Gambling
These days, FedEx has more than 400,000 employees around the world. The renowned transportation firm recently had a market capitalization of around $45 billion last year. All in all, these days, FedEx is one of the most recognizable transportation brands around the world.
And yet, all of this could have not happened at all if it wasn’t for gambling. Back in 1973, the company was on the very verge of bankruptcy. However, CEO Fred Smith took the last $5000 the company had and headed to a Las Vegas Blackjack table. That night, he won the $27,000 his company needed to stay afloat. If it wasn’t for this one night, all the millions of dollars of company’s current worth would never even exist.
Gambling Away a Fortune
There is no gambling story more common than someone winning an amazing amount of money — only to blow the entire lump sum on further gambling. One of the most widely spread tales of great casino amplitudes is that of Archie Karas, a famous Greek-American gambler.
The man came to Las Vegas in the ’90s with nothing but a loaned $10,000. Archie had a simple vision — he wanted to gamble with this money until he earned enough to retire, right then and there. And the crazy thing is that at one point, Archie actually made it. Saying that Karas won a lot of money at the peak of his lucky streak would be an understatement. At one point, he amassed an amazing $40 million dollars. However, his greedy nature got the best of him — and he proceeded to lose it all shortly after.
From Rags to Riches — and Back
Of all the different kinds of incredible gambling winnings, some of the craziest stories are undoubtedly tied to lottery winners. One such example is Michael Carroll, a bin-man from Norfolk. At the young age of 19, Michael won the National Lottery — something akin to a British equivalent of the Mega Millions jackpot.
After picking up almost £10 million pounds, he started making some dubious, but entertaining investments. After investing a million pounds in his favorite soccer club, he descended into a spiral of partying and drug abuse that would see him bankrupt in just four years since his big win.
A Huge Win for Common Sense
After winning a large sum of money, most people wouldn’t do sensible things such as paying off their mortgage or credit card debt. However, there are still gambling winners who are able to contain their wild impulses. For example — military man Jon Heywood is definitely one of the more restrained, sensible winners yet.
Back in 2015, Heywood won over £13 million pounds — but what proceeded to happen wasn’t a splurge. Instead, the Afghanistan veteran used a large part of the money to fund his father’s expensive medical treatments. Naturally, he did take his family on a luxurious cruise as well, but the brunt of the money definitely went into sensible use.
Giving Back to the Community
There are people helped the community they came from after winning the lottery. People such as Linda and John Kutey, who won the New York State Lottery in 2011. What they proceeded to do with some of that money is less extravagant than you might assume..
After the win, they visited their home town of Green Village, and financed the construction of a water park in honor of both their parents. Their $200,000 went to the construction of a new spray pool in the village — a nice refreshment for the local community.
Splurging on Real Estate
While gambling winners who don’t spend a lot of time in casinos have been known to use their winnings sensibly, some professional gamblers are not as rational. You could say the same for Phil Galfond, who used a huge WSOP win to really spruce up his apartment.
And by that, we mean that he spent $3.2 million to combine two huge New York apartments into one ludicrously big residence. Phil Ivey is of similar but even greater taste, living in an almost 7000-square-foot home all by himself.
Luxurious Car Parks
When you combine an enthusiasm for cars with a passion for gambling, you can already see where any potential winnings will be spent. For example, Vannessa Rousso, the winner of 14 WSOP cashes, spent a lot of her money on luxurious cars. She is the proud owner of a Lamborghini Gallardo, only 5,000 of which were ever made. The aforementioned Phil Ivey is also of similar tastes, sporting a Rolls Royce worth around $400,000.
Traveling to Exotic Places
Of course, not all lucky gamblers are after material thrills. There are plenty of people who have used their winnings to do something interesting — like traveling the world! Poker pros are not the only ones who fly to Europe, Vegas or Atlantic City.
For example, Cole South is definitely a poker expert who likes to go on an international adventure from time to time. Cole has actually traveled to over thirty countries, and every continent save for, ironically enough, the South Pole. And he’s done all of this by the time he was 25!
Building a Bankroll
While most people treat gambling as a hobby, there are also those enthusiastic enough to choose it as their profession. This especially goes for professional poker players who use a large part of their winnings to build their bankrolls further. This allows them to play in games with increasingly higher stakes.
Now that you have a few examples how people spent their winnings, you can surely control your urges and put your money to a good use once you win a couple of millions. Good luck!