Sudden Wealth Syndrome (SWS) In Gambling

[aioc]

People who suffered from this are those who are not prepared and who do not expect to win huge amounts so they are faced with this syndrome, they do not expect to win huge amounts of money and they will just decide after they won a huge amount of money.
This is not recommended when you are betting when you are trading, and when you are investing, or just about anything because there's such a thing as unexpected money, so better to have a plan and as much as possible feel it so it will materialize and things will go smoothly when you hit the jackpot.

[gabbie2010]

I experience this in the glory days of Bounty where in those days you can earn huge money from bounties it's not really a very huge amount of money but enough to change my financial status at that time, the feeling is not good there are a lot of highs and lows and you will start to ask yourself if you deserve it or suddenly everything you wanted are all here and you become isolated, good that I have overcome this feeling when I have it the first thing I did is to talk to my family and list everything that should be done and try not to change my thought even if I have a huge amount of money in front of me.

Have you experienced this feeling and what are the steps that you've taken to fight this Sudden Wealth Syndrome (SWS)

Do you think people who have a chance to make a lot of money should be aware of this and do you know what you're going to do if you won a big amount of money?

Well I never won a huge amount of money yet so I haven't experience a Sudden Wealth Syndrome, peradventure if I win any huge amount of money I don't think I will experience it, I will have a relax feeling and try as possible to keep cool because I had already laid out how I am going to invest my funds in case any big money suddenly comes my way, of course presently I have one or two abandoned projects due to lack of funds such a project will be my priority first whenever I hit a jackpot and for the fact that other people got their money through their daily job or investment doesn't consign me afterall I got my own money legitimately through gambling.

[Solosanz]

I could understand about the extremely not want to lose any money, but I can't understand why you should feel wrong when you win big and you need to insolated from your friends? you're making a good amount of money and there's nothing wrong about it, you're not steal your friends money or harm them. If you're lucky and your friends aren't lucky, that's not your mistake.

[len01]

-snip

Have you experienced this feeling and what are the steps that you've taken to fight this Sudden Wealth Syndrome (SWS)

Do you think people who have a chance to make a lot of money should be aware of this and do you know what you're going to do if you won a big amount of money?

first of all the lottery winner will indeed become very rich if he is lucky because the multiplier that is obtained is indeed very large and can change someone economy to become richer with that victory and I have ever gotten that when from the bounty results and the results became even bigger in 2021 I feel luckiest when the NFT I held turned out to be very expensive.

at that time I did not feel this syndrome but I actually lost control of being a little arrogant buying whatever I wanted and actually I had hidden about my money but unfortunately people around know this and lots of friends who approach me every day. but after that the money was gone and I just felt like this syndrome felt sorry to want to punish myself after my money was gone all my friends avoided me or I felt isolated after not having much money. whether this is a syndrome or not, what is certain is that I feel this after having nothing else.

from my experience it provides a valuable lesson that for anyone who can make more money does not have to know this syndrome, it is enough to hide everything and look normal but take advantage of income on something that has a small risk but in the long run produces more. this way so that we do not feel isolated if a problem occurs because we will only be ourselves without being overvalued.

[m2017]

I don't know anything about the Sudden Wealth Syndrome (SWS) and I'm hearing about it for the first time. Of course, the symptoms of this syndrome are not familiar to me, probably because I am not the owner of big gambling winnings or wealth in any other way.

People who have a chance to make a lot of money (even people who don't have this chance, because they may suddenly become the owner of a rich inheritance, for example) don't need to know about the Sudden Wealth Syndrome. If they suffer from this ailment, which they feel about, they can turn to specialists who will provide qualified assistance. I mean, as long as it doesn't bother you and doesn't spoil your standard of living, then you shouldn't fill your head with nonsense and worry about it.

What will I do if I win a big sum of money? Even I have no idea, because there are no prerequisites for this (I am not a gambler). I don't want to fantasize about this topic, because I think that problems need to be solved as they arise. If there is no problem with having wealth and the question of how to spend it, then you should not waste time thinking about it.

[jrrsparkles]

Well, I say most of the people who become rich all of a sudden goes through complete behavioral change but it is very normal thing if we thing realistic cause something happened that they didn't expect it to be but I am not going to call it as syndrome and people have to pay some money to get out of it.

This thing happens once in a million so probably there are not a lot of people to speak about as well but what they will do is just go rouge and spend all their money in a way that is not really necessary for them and get back into the same place where they started in a year of few.

[Mr. Magkaisa]

          -  I have never experienced such a thing, but I don't want to experience it again, maybe it happens often to those who win the lotto jackpot prize. Because of the lack of knowledge on mismanagement and financial management, this is also probably the reason for losing or ignoring large amounts of money won because they are shocked by the amount they are holding because they are only used to small amounts.

but of course I hope no one experiences it here in the crypto gambling community, we must play the right game in gambling here in the crypto space so that we don't get stressed in the end.

[retreat]

Have you experienced this feeling and what are the steps that you've taken to fight this Sudden Wealth Syndrome (SWS)

I didn't know this syndrome existed. I thought that people who suddenly earn a lot of money would be happier and calmer in life, but it turns out that for some people it was like disaster for them.
But I think that if we understand financial management and stay humble in any situation and don't need to overthink about everything, this kind of syndrome won't happen to us.

[Oasisman]

I could understand about the extremely not want to lose any money, but I can't understand why you should feel wrong when you win big and you need to insolated from your friends? you're making a good amount of money and there's nothing wrong about it, you're not steal your friends money or harm them. If you're lucky and your friends aren't lucky, that's not your mistake.

I thought the meaning of isolating ones self from your friends and the guilt, I think it has something to do with your friends expecting too much from you. I mean your friends would probably going to give you a lot of pressure to spend on something and they are expecting it for free that you'll pay for everything since you've made a sudden fortune, which they also think It won't gonna matter because you still got a lot in your bag. Remember, this syndrome doesn't want you to lose these money - so might as well save it for yourself than spending it with your friends every time you are all together.

[btc_angela]

Good, I haven't heard about this syndrome but I know that some lottery winners are being hit by it. So it could really be a curse for anyone to have that windfall win in our life as we don't know how to cope with that huge money that suddenly comes in our way.

So I guess for those who win in lottery or any other gambling, should really be careful and just put their feet on the ground and still simply and don't feel like you are privilege. Otherwise, you might hit with this syndrome and it could have a very negative effect on your psychology.

[macson]

i have experienced this, it was when i received an inheritance from my grandfather, not winning the lottery or other types of bets, the amount was very large and i was very surprised at that time, i was very confused about the money i got, it was very wasteful, i also felt like the luckiest and richest person when i received the inheritance money, fortunately now i have recovered from that syndrome, my expenses have become stable and i prefer investing rather than spree, i even manage my betting capital as best i can so i don't lose money and lost control of the money i had because of gambling.

[mirakal]

For now, being wealthy in the near future is still a dream for me. But if given a chance to become instantly wealthy, perhaps my first step is to plan out how to use my money wisely. Having an investment would be my top priority, and then buy my own house and lot for my family. And just gamble for fun, not certainly to earn an income.

My life will definitely change and I’m aware of that. But I think I won’t be affected with this Sudden Wealth Syndrome because becoming wealthy has already been set as my goal. Maybe for those people who are not expecting to be rich because they are satisfied with their present status, once they get into this, surely they will feel this SWS.

[Apocollapse]

i have experienced this, it was when i received an inheritance from my grandfather, not winning the lottery or other types of bets, the amount was very large and i was very surprised at that time, i was very confused about the money i got, it was very wasteful, i also felt like the luckiest and richest person when i received the inheritance money, fortunately now i have recovered from that syndrome, my expenses have become stable and i prefer investing rather than spree, i even manage my betting capital as best i can so i don't lose money and lost control of the money i had because of gambling.

You were wasting your inheritance? the symptom of this syndrome is where the person is extremely don't want to wasting the money, so it's really opposite with your experience.

Well the biggest challenge of people who are already working is the way they spend their money. Did they spend their money based on their wages? or did they spend based on their need? if someone still spend their money based on how much their wages, they're still not mature.

[Zlantann]

Have you experienced this feeling and what are the steps that you've taken to fight this Sudden Wealth Syndrome (SWS)

I have not won big in gambling but I have had a job that changed my financial condition. The job was paying me 7x more than my former income and it was a dream come true. Gradually there was this feeling that I am now in another class, so I needed to abandon some of my friends and seek people that are in the same class as me. I wanted to change my car, house, and physical appearance. But I resisted those desires by maintaining my normal life. The first move I made was not to let anybody know that my income has increased. I retained my friends and associates. I also ensured that I didn't spend much on pleasure. But I focused on investing my income in profitable ventures. My expenditure remained the same but my investment increased.

Do you think people who have a chance to make a lot of money should be aware of this and do you know what you're going to do if you won a big amount of money?

It should be an important course or study for people that make instant wealth. If they are aware of the meaning, causes, and consequences of Sudden Wealth Syndrome, they will seek means to avoid it. Thank you OP for this novel topic, I have learned more about this disorder and I never knew that I also faced this syndrome.

[Weawant]

Have you experienced this feeling and what are the steps that you've taken to fight this Sudden Wealth Syndrome (SWS)

Do you think people who have a chance to make a lot of money should be aware of this and do you know what you're going to do if you won a big amount of money?

I have experienced it but it's not from gambling but from investing in altcoins, I had invested in this particular altcoins that gave me so much profits I doubted myself of been this wealthy and decided to start spending above my previous lifestyle, I almost got broke from this.

Many people aren't prepared for the wealth that they're seeking through gambling or investing and when the money comes they do unproductive things with the money and this is a result of sudden wealth syndrome. We have to be prepare before the wealth comes.

If we don't prepare ourselves we'll misuse the money as many lottery winners has done in the past. One way to avoid this is to maintain your regular life when you suddenly get rich, don't increase you standard of living and go to seek the help of a financial manager to help you.

[Dave1]

Have you experienced this feeling and what are the steps that you've taken to fight this Sudden Wealth Syndrome (SWS)

Yeah, for sure, I will say that my judgement is clouded because I don't know what to do with my big winnings that time. Nevertheless, not sure if that is what we call SWS because I just easily buy everything that I can get my hands.

Do you think people who have a chance to make a lot of money should be aware of this and do you know what you're going to do if you won a big amount of money?

Maybe, so that they will know what do you and that they will have the right decisions when something come to there way. It could be just like $10,000 but it could also be big in their local currency. Compare to millions if not billions that someone will will in a lottery.

[Docnaster]

The Sudden Wealth Syndrome I think is suffered by majority of people who does stake bets without hope of winning because to them they probably think the odds off winning the game is significantly high and then at the end they see themselves winning huge amount of unexpected money.
The reaction usually crazy and sometimes they find it very difficult to handle their emotions and sanity in such cases. That's why some betting companies does initially involve the winners of such kind of bets with some frightening activities that'll deeply scare them before disclosing their winnings to them

[crwth]

It's now that I read this term but I know the specifics or the symptoms of this conditions from the people I know who gambles a lot. Their stories tend to always focus on the parts where it's about how much they have "won" and how they would want to have that "win" again. They are saying that they can do it again and would just end up losing more.

Personally, I think I have just felt the urge to gamble again because I have experienced it already but I stopped myself because I know that it's not gonna end up well.

[Hispo]

I was not aware of the existence of this problem, to be honest. When I first took a look at the name of your thread I thought SWS was about the unmeasured waste of money new wealthy people can go through, which eventually lead them to financial crisis.

This is a syndrome I have never experienced, because I don't think I have such luck to each much suddenly, though, I would be in favor of providing anonymous psychological help for those who suffer it, so they can overcome it and enjoy their life.

It should be anonymous and free of charge because both the identity and the amount of money the patient has can influence on the treatment a psychologist would be providing and also over the personal security/integrity of the patient.

Unfortunately there are "doctors" who are willing to hook us up in their office for the sole purpose to milk more money from someone they know that has it. 

[Wapfika]

Do you think people who have a chance to make a lot of money should be aware of this and do you know what you're going to do if you won a big amount of money?

I don’t experience this personally but one of my friend suddenly have this kind of same syndrome when he was promoted at work. He wants to become separated with us because he thinks that he is already on different level. It's funny how people can easily change with sudden changes on wealth or position.

I believe people experiencing this kind of syndrome knew exactly what's happening and they choose to do that because they want to show their advantage over other people. If I will have a chance to have a huge money then I will put it on investment so that it will not be spend without any return profit.