Page 12 - March 2014 • Southern California Gaming Guide

So, You Want to Win a Million?
First, Consider This...
by Cee Stuart
Congratulating people who have just won a lot of money from the lottery or a slot machine jackpot is like congratulating new parents. While the moment is incredibly joyful, just under the surface is the awareness that a corner has been turned, and things
will never be the same. Fact is, I believe winning, particularly when it is millions of dollars, ranks among life’s most stressful events. I know. I can hear you saying,“Just give me the chance...” I’ll admit it sure beats losing a job, but I’m convinced that winning millions is much more stressful than you may realize.
Years ago, in the course of my job with a slot machine company, I met scores of winners, usually within the rst few hours after they won a very big jackpot. Because veri cation of the win took time, I watched, listened to and questioned the newly rich. I saw criers and hooters and hollerers and, most common of all, winners who just stared, glassy-eyed, as they tried to process what had happened.
I’ve drawn some generalizations, admittedly very subjective, from all this observation. Couples seemed to handle the numbing thrill better than winners who were alone or with friends. Older folks were more stoic.
Women were more willing to talk about the changes they wanted to make in their lives. Men were more likely to say “It won’t change a thing.” If not already retired, nearly everyone said they would continue to work. But you have to love the handful of winners who called their bosses and quit on the spot.
One of my tasks was to request the lucky winner to sign a media release that allowed the casino and the slot company to publicize the winner by name. I had all sorts of arguments in favor of going public: It would be fun to be the center of media attention — maybe even on a national
TV show if the jackpot were large enough. But rarely did I say what I considered the most powerful argument of all: It wouldn’t be the strangers who learn of the jackpot in the newspaper that would make your life di cult. Rather, it was likely that the people who would make you crazy would be friends and family, some of whom you may have already called to share the good news.
Sometimes it was easy to see problems ahead. e mid- 50s widow whose son-in-law was already answering for her and planning to “manage” her money. e buddy with
the chip on his shoulder, a chip that just got bigger with every beer.
And some winners that I had kept in touch with told me that some of their relationships failed altogether, and others underwent radical changes. One multimillion-dollar winner
told me that she had become the de facto head of her family, was consulted on all sorts of decisions, and was expected
to contribute nancially toward such things as nieces’ educations. She was also expected to assume the full burden, emotionally as well as nancially, for caring for her ailing parents.
It will come as no surprise, then, that well-adjusted people seemed to weather instant wealth with the least guiltwhentheysaid“No,”andwiththemostpleasurewhen they helped others. But even the mildly neurotic — where I would classify myself — can take steps to make being a millionaire the dream you always imagined it would be.
Here are my top ve suggestions if you win big:
1. Be realistic about just how much money you have won. Many slot jackpots are paid as an annuity, and even a couple million paid out over 20 years isn’t really all that
much money, especially after taxes.
2. Give yourself some time. In the short term, check
into a hotel or nd a retreat for a couple of days to let it all sink in before having to confront the onslaught of well-wishers and decisions. In the long term, don’t rush to change too much in your life. Go slow.
3. Monitor incoming phone calls. Pick and choose the callsyourespondto,anddoitonyourownschedule.You may only want to talk to the closest friends and family.
4. Seek sound nancial advice from a trusted source. One winner told me about trying to cash her check at a major bank, and practically being tackled by the in-house brokerage sta . ere’s lots of money to be made o your money, so select your advisors with care.
5. Lots of winners want to prove that they are still the same, and maybe they are. But many of the people in their life will see them as being di erent. Recognize that your situation, and others perception, of it has changed. And while it may be very hard, at some point you must be prepared to let go of what no longer ts.
I know I haven’t scared you out of wanting to win big, and most people, including myself, would be thrilled to have these problems. So when you win, be realistic, be smart, and most of all, enjoy your newfound cash! You owe that much to all of us who are still trying.
PAGE 12
SOUTHERN CALIFORNIA GAMING GUIDE
MARCH 2014