investing in crypto with gambling winnings

[nattekut]

I am gambling for quit some time. I have been investing 50% of my weekly winnings in crypto for 2-3 years now. Every week I purchased crypto for a couple 100€ that I profited om fiat gambling rooms, mostly poker and sport betting. I have been quit happy with the extra money I brought me when crypto prices was going up.

As most of you guys know I am in Vegas at this very moment. 3-4 weeks ago I won a 10k entry in the WSOP 2019 main event. I spend 209$ in the tournament to qualify and win the entry ticket. So actually I am free rolling the poker tournament because I closed some small sponsorship deals. In this way my flights and hotel expenses were covered + I had some left for daily spendings.

Today we are day 5 of the main event and we reached the money bubble. So I am guaranteed a minimum cash of 15,000USD. But everything is going so well and at the moment I am still in top 100 of the remaining player field. So a much bigger cash is very realistic. Outlasting 500 more already guarantees little less than 25,000$ and if everything keeps going well a cash of 50,000 or even a 6 figure above 100,000$ is possible. but you never know... everything can happen. the only thing I can say is that I am super excited. I am playing the main event for the 5th time and this is the very first time that I reach the money with such a good position. I made 2 min cashes before but busted quit fast after the money bubble.

So the dream still is alive. A huge dream to crown myself to WSOP main event champion and scoop a 10 million USD top prize.... I know its just insane

 

But to come to the essential thing about the post. At this moment I am guaranteed 15,000$ and it can become even much more. How much would you guys invest in crypto if you would win such a large amount of fiat money for a quit small expense. Cause I only spend 209$ so basically the 15,000$ already is pure profit.

Second question just imagine lets say I win the main event and I scoop the 10 million $ top prize. Should I invest a large part in crypto or do you think I just need to retire and enjoy the money. Me personally I think I would invest 1 million in crypto, invest 4-5 million in real estate and keep rest just to relax and chill a little

[allisonn]

Once you are past a certain amount, I think there's not too much point chasing a lot more increased cash flow etc. At least that's what I would believe, once I have secured a good bundle, my thoughts would naturally turn towards "what are various scenarios that could affect my life adversely?". Get a fatter car with more armor, invest into a healthier lifestyle, security for home and family etc.

Crypto is interesting in that it's both a high risk asset and a hedge against some weird financial doomsday scenarios so I would get some but if I am rich enough, but I would not be too interested in taking on additional risk for potentially more money.

[nattekut]

2 minutes ago, allisonn said:

Once you are past a certain amount, I think there's not too much point chasing a lot more increased cash flow etc. At least that's what I would believe, once I have secured a good bundle, my thoughts would naturally turn towards "what are various scenarios that could affect my life adversely?". Get a fatter car with more armor, invest into a healthier lifestyle, security for home and family etc.

Crypto is interesting in that it's both a high risk asset and a hedge against some weird financial doomsday scenarios so I would get some but if I am rich enough, but I would not be too interested in taking on additional risk for potentially more money.

yeah same here. I think I still would invest a bunch of money if I win the lot. I even think I should even take some risks and invest in entire underrated cryptos. there are many cryptos that at this moment are worth 1/20 even 1/50 of their value when BTC was at 20k. So if I would win 10 million I think I would dare to take the risk to invest 1 million of the 10 in such coins. But think I would divide the money over 100+ different coins. I wouldn't place all my eggs in a single basket 

[S1MPL3X]

ivebeen gambling for a long time and i personaly think its a good idea to invest in crypto Bitcoin was the first cryptocurrency to use blockchain and has been the market leader since the first bitcoin was mined in 2009. After the birth of Bitcoin with the genesis block, more than 1,000 altcoins and crypto-tokens have been created, with at least 919 trading actively on unregulated or registered exchanges. This entire class of cryptocurrencies and tokens has been classified by some tax authorities as having the same status as commodities. If cryptocurrency is viewed in the same class as commodities, how different is it in terms of its risk and return structure? This article sets out to help readers understand cryptocurrencies and to explore their risk and return characteristics using a portfolio of cryptocurrency represented by the Cryptocurrency Index (CRIX). Substantial discussions are centered on Bitcoin and its close variants. Some questions are raised about the potential of cryptocurrencies as an investment class. Results show that the return correlations between cryptocurrencies and traditional assets are low and that adding CRIX returns to a traditional asset portfolio improves risk–return performance. Sentiment analysis also indicates the CRIX has a relatively high Sharpe ratio. Although we should view the results with care, a new form of financing for cryptocurrency and blockchain start-ups is born. The disruption brought about by Bitcoin may be felt beyond payments through what is known as initial crypto-token offerings or initial token sales. just facts i was looking on the internet for answers not much helped but this on did when i next build up im gonna invest

[imaginary]

The City of sin! I should save up and hit up the slots over there one of these days. 

Crazy you actually are  having luck and that you are being guaranteed a handsome amount of money over there at the WSOP 2019 main event. 

Invest some if you’d like, but if I were you I would just enjoy that money the best I could. 

[CntryBoy]

Congrats on your continued good run at the WSOP, hope you are able to sustain it and keep your piece of the prize growing.  It is never a bad idea to invest, regardless of the amount or percentage of the winning that you decide to do so with.  If it is done wisely, any amount can garner nice returns over the long term.  Though by the sounds of the good fortune you are experiencing, you should probably just put all of your winnings on BLACK!

[jualid]

Firstly congratulations and good luck for your WSOP 2019 tournament! For investing, if i were you i will investing in bitcoin like half of the prize or even more. Well if you looking at the bitcoin price, it's really good right now and i believe it will keep going.

[cukup2]

 

great maybe this is the best year of your trip, with only $ 209 you can get $ 15,000 and maybe you can get that $ 10 million is something extraordinary achievement. when I get $ 10 million, maybe I will save 1 million USD in crypto some of it will be deposited in the bank and the rest will be shared with people who need it in my area.

[williamshennie9]

I think that is a good idea, even with normal gambling winnings. If you win big, and you build up a good balance and you don't need the money for anything specific, then investing it is a very good idea.

[kaleemmalik071]

well man first of all i just happy to read your post . you are winning a good ammount still $15k is a good one . the rest of post you should do which you think better . as per your own idea ( invest 1 million in crypto, invest 4-5 million in real estate and keep rest just to relax and chill a little ) totaly agreed with it ..  and good luck for being champion  

[CntryBoy]

On 7/9/2019 at 1:15 PM, nattekut said:

Me personally I think I would invest 1 million in crypto, invest 4-5 million in real estate and keep rest just to relax and chill a little

Well, since sadly you "only" scored a 6 figure win, what are you going to do with it all?  😰  Still going to invest a good chunk?  Deposit half on Stake?

[wngo123]

I would invest in crypto only after big wins, I don't believe that there is any sense to go and invest for the amounts less than $200 to be honest. 

[CntryBoy]

3 hours ago, wngo123 said:

I would invest in crypto only after big wins, I don't believe that there is any sense to go and invest for the amounts less than $200 to be honest. 

I would have to agree here.  Anything less than maybe $100 or so in my opinion isn't really worth it, but I guess it depends on each individual person's financial situation.

[Judgebest]

I think this is not necessary. Because when we withdraw the winnings to invest in crypto and when we lose the bet, we will sell crypto again to deposit into Stake and continue playing gambling.
 

[SLFJ]

Yes, that's a pretty decent idea, you can get passive earnings by gambling and getting profit, and investing the profit to crypto which would earn you more money when you're offline, it is still a risk but prices fluctuate.

[CntryBoy]

12 hours ago, SLFJ said:

Yes, that's a pretty decent idea, you can get passive earnings by gambling and getting profit, and investing the profit to crypto which would earn you more money when you're offline, it is still a risk but prices fluctuate.

Very true.  It can be very nice with some big wins to invest some of the profit in crypto, and hopefully the prices will continue to increase.  In the end you are basically making even more money for free.

[wiro212sableng]

On 7/10/2019 at 12:15 AM, nattekut said:

I am gambling for quit some time. I have been investing 50% of my weekly winnings in crypto for 2-3 years now. Every week I purchased crypto for a couple 100€ that I profited om fiat gambling rooms, mostly poker and sport betting. I have been quit happy with the extra money I brought me when crypto prices was going up.

As most of you guys know I am in Vegas at this very moment. 3-4 weeks ago I won a 10k entry in the WSOP 2019 main event. I spend 209$ in the tournament to qualify and win the entry ticket. So actually I am free rolling the poker tournament because I closed some small sponsorship deals. In this way my flights and hotel expenses were covered + I had some left for daily spendings.

Today we are day 5 of the main event and we reached the money bubble. So I am guaranteed a minimum cash of 15,000USD. But everything is going so well and at the moment I am still in top 100 of the remaining player field. So a much bigger cash is very realistic. Outlasting 500 more already guarantees little less than 25,000$ and if everything keeps going well a cash of 50,000 or even a 6 figure above 100,000$ is possible. but you never know... everything can happen. the only thing I can say is that I am super excited. I am playing the main event for the 5th time and this is the very first time that I reach the money with such a good position. I made 2 min cashes before but busted quit fast after the money bubble.

So the dream still is alive. A huge dream to crown myself to WSOP main event champion and scoop a 10 million USD top prize.... I know its just insane

 

But to come to the essential thing about the post. At this moment I am guaranteed 15,000$ and it can become even much more. How much would you guys invest in crypto if you would win such a large amount of fiat money for a quit small expense. Cause I only spend 209$ so basically the 15,000$ already is pure profit.

Second question just imagine lets say I win the main event and I scoop the 10 million $ top prize. Should I invest a large part in crypto or do you think I just need to retire and enjoy the money. Me personally I think I would invest 1 million in crypto, invest 4-5 million in real estate and keep rest just to relax and chill a little

Congratulations on your success bro, WSOP is the dream of every poker player in the world. You have achieved it, and now just waiting for another surprise in the next few days. I wish your dreams come true, and I will stand here as the first person who will greet you. Cheers !!!

[djonox]

I invest a part of my earnings in the oil exchange and the other part I keep to play and also put on my bank account

[sheenazbay]

15,000 $ is your pure profit, and that is a big amount. and if you win it and get 10 million $, of course you will think, think the best for what the money is. you decide. your choice is your best choice. good luck

[Kinou]

Hello,

Personally all my money is in Bitcoin and Ethereum, I mean my gambling money, not real money ahah. So I will be able to cashout when the Bitcoin price will hit 20,000$. I prefere gamble this money intead of investing it.

With regards, Kinou.

[CntryBoy]

Well, I took 90% of my winnings from yesterday and invested it in more crypto.... this means everything will probably crash... lol.

[chillhouse]

First of all congratulations and good luck for you to keep running well at your WSOP $ 15,000 is your net profit and that is a lot of money. and if you win it and get 10 million dollars, of course, you would think, what is the best thought for that money. you decide

22 minutes ago, CntryBoy said:

Chà, tôi đã lấy 90% số tiền thắng cược của mình từ hôm qua và đầu tư vào tiền điện tử nhiều hơn .... điều này có nghĩa là mọi thứ có thể sẽ sụp đổ ... lol.

I think you shouldn't do that

[Thepug]

I am going to invest some of my money in to crypto, when I get to my first goal with crypto.

I am currently going from nothing to $100 and I will see how long it will take me. This will then be my investment in to crypto over the long run and I will use it for the stake mega races.

I wish you the best with your investments and that the both of us can make some nice money!

[Mahdirakib87]

That's a good decision. I liked it. And I want to do it too. But whenever I win and keep something as safe I can't hold it forever. I make it redeposit to gambling site and finally lose all. But would be great if I can win continuously and keep the winning in hold as cryoto for few years. Maybe it will give profit more if the prize get up.

[Slava2105]

25 minutes ago, Mahdirakib87 said:

That's a good decision. I liked it. And I want to do it too. But whenever I win and keep something as safe I can't hold it forever. I make it redeposit to gambling site and finally lose all. But would be great if I can win continuously and keep the winning in hold as cryoto for few years. Maybe it will give profit more if the prize get up.

Yes, I think that when you win you win some pretty good money. After all, to continue to lose everything when it ends and the time has come to win.