Sudden Wealth Syndrome (SWS) In Gambling

[naira]

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 just found out is a special term for this kind of thing. Because a big win is still a big win, nothing more, and there is no point in the term. You suddenly get rich, change your life, sometimes get a little cocky, or maybe avoid people who ask for donations. I have never had such big luck, but what is clear is that the betting results always return to the point where the money was obtained. He would gamble again and again to test his luck a second time.

[kryptqnick]

I haven't heard of this before, but that's certainly something to keep in mind if that ever happens. I guess the good thing is that is a person's wealthy and experiences these symptoms, it's totally affordable to go to therapy and work through this. I've never won life-changing amounts of money, so I haven't experienced that, but it certainly should not be disregarded, and it's better to plan ahead for it. It's kind of like the midlife crisis. You don't know if you are to experience it, but it's better to be aware of that in advance, so that it's not unexpected.

[asriloni]

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

I have not ever experienced that. My take on this if SWS was coming for someone who never won huge money in their life. The fundamental problem was how people can control their emotions properly. Emotion became the key factor that was also influencing people's greed.

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?

People shall be aware of that. From this article there have been so many stories related to the SWS syndrom. They were not able to use their money wisely. They lack of a plan to use the money properly after winning a big jackpot. Winning millions didn't matter as long as the winner lack of knowledge about how to make a proper plan for his jackpot.

https://www.gobankingrates.com/net-worth/bankruptcy/lottery-winners-who-lost-millions/

[Queentoshi]

Some people who suffered from this syndrome are lottery winners and those who won a huge amount of money from casinos or even investors who made huge profits from trading

Sudden wealth syndrome from what I have understood that you are writing is most likely to affect people who were not born into wealth and have never been exposed to riches and abundance. For a gambler who is from a rich background, someone who has had or have been given huge sums for personal use by their very wealthy parents they will not be affected by SWS whenever they win big, but they will likely still end up spending all the money because they have been exposed to huge money before that they squandered off, this one from gambling will not feel different to them.

[Jawhead999]

Well this is weird.

When you're gambling too much e.g. spend time and money to gamble without any control, it's make you become an addict and gambling looks bad here.

When you're hit a jackpot or lottery and you win a lot of money, you might be infected with this syndrome and gambling looks bad here even though you're making money through gambling.

[rhomelmabini]

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?

I think bounties in crypto was still here but only on different approach. In regards to gambling I guess there's nothing change in it but there are just too many options to choose these days e.g. gambling site that offers NFT and has different features, lot has open bookies, etc. Not that I can remember it but for sure as human we tend to be shocked especially if you're new to it, it's understandable and we can learn from it.

We tend to not care on these things when we're experience it at the moment but the realizations always comes after. I think those who have the chance to make it should learn a lesson a thing or two so I think it's not necessary that they should know this beforehand unless you're really aware in the first place.

[elevates]

Sudden wealth syndrome from what I have understood that you are writing is most likely to affect people who were not born into wealth and have never been exposed to riches and abundance. For a gambler who is from a rich background, someone who has had or have been given huge sums for personal use by their very wealthy parents they will not be affected by SWS whenever they win big, but they will likely still end up spending all the money because they have been exposed to huge money before that they squandered off, this one from gambling will not feel different to them.

Every gambler's dream is to become wealthy and live a life like a king. Such gamblers are from the poor or the middle class and they buy lottery tickets to achieve their goal. I do understand most of them are not prepared as they never expected that they will win one day. When they win they lose their mind just being rich from being poor and this is where they start hallucinating about the money they won. That is when they start taking wrong decisions on money management in the end they lose everything that they won. In today's time, every mental issue has a scientific name and that is why we now are hearing about this syndrome. In normal words it meant, I do not know what to do with this money. 

[alastantiger]

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?

Wow. Thank you, robelneo, for this topic. I am today years old when I heard about this Sudden Wealth Syndrome (SWS). I have had an experience or feeling of this in the past when I immediately received money after being broke for some time. What you have explained is what I experience - first, it is a feeling of confusion, and then I forget everything I had thought about doing when I receive the money. It only comes back when the cash has been depleted. What I have learned to do to fight this Sudden Wealth Syndrome (SWS) is to make a list of my wants and needs in order of priority. When the money comes, I already have clarity on what to spend it on or not. Sometimes, I indulge myself in some guilty pleasures, but I do not overdo it.

[Eureka_07]

The idea of "huge" money can be relative. I've felt it before during winning streaks. I used those winnings to keep playing instead of withdrawing any, and now that you've introduced this syndrome, it makes sense.

<snip>

Holding an NFT at that time was a gamble, and unfortunately, luck wasn't on my side. I even went as far as attempting to borrow money just to invest in it, lol.

[bitbollo]

this is one of the few diseases that one can wish for ?
Seriously, joke aside, this is a well-known problem and it's not just something that can be related to gambling.

I completely understand OP's point "bounty period".
Personally I experienced a certain lack of interest in other economic activities at that time, but I don't know if it could be connected to such a syndrome.

[bittraffic]

If you show the world you live a high life once upon a time and then suddenly you couldn't afford it anymore then your friends will really wonder you are not going out anymore when you used to like hanging out back when you still have a lot of money. So this SWS will affect your socialization.

But I don't see this as a disorder. Anyone who suddenly got a huge wealth that you are not used to may really decide to do something with the money after especially if they earn it easily.

[Cryptomultiplier]

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

Yes I have experienced this. It however had nothing to do with gambling or betting or winning a lottery. It had to do with the first time I won a contract bid to design a department jersey for more than 120students.
It was easy to just breakdown the amount as at then, because I already knew what to do, and had the knowledge and contact.
Although all this is in the past, the feeling of when I started earning then at my first job comes close to describing this sudden wealth syndrome (SWS).  I'd make a budget at first, but when the salary came, I would find out I had more expenses that the money won't suddenly become enough for.

I discovered it was because I didn't stick to my budget plan.
I outgrew this sudden wealth syndrome once I became more disciplined with my expenditures, once I stopped being a nice guy who gives money to people unnecessarily, also once I reduced my indulgence in activities like expensive outtings, or other pleasurable fun activities, with gambling inclusive.

It's just so much amazing how my mind became clearer then to know what it wanted, such that when the sudden wealth arrived, not only was I able to be responsible, I was also accountable to myself.

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?

Yes, everyone who is still struggling or have the potential to come into such sudden wealth should be made aware. By word of mouth in a group setting, this would be much needed awareness someone will appreciate.

[Gozie51]

I haven't heard of this before, but that's certainly something to keep in mind if that ever happens. I guess the good thing is that is a person's wealthy and experiences these symptoms, it's totally affordable to go to therapy and work through this. I've never won life-changing amounts of money, so I haven't experienced that, but it certainly should not be disregarded, and it's better to plan ahead for it. It's kind of like the midlife crisis. You don't know if you are to experience it, but it's better to be aware of that in advance, so that it's not unexpected.

I have heard of it and I know what it is and I know that people do experience it but I have not. I think it is what will happen to a man at least once in his life time. I can relate it to opportunity come but once and one is expected to make use of such opportunity of huge amount of money presented to him either in lottery or winning a bet. However, we don't need to allow our life to be stagnant in expectation of making it or hitting the jackpot one day, we have to keep moving in our endeavor so that if such opportunity comes, it will become an added advantage and if it doesn't come, we are still good.

[Westinhome]

I have heard of it and I know what it is and I know that people do experience it but I have not. I think it is what will happen to a man at least once in his life time. I can relate it to opportunity come but once and one is expected to make use of such opportunity of huge amount of money presented to him either in lottery or winning a bet. However, we don't need to allow our life to be stagnant in expectation of making it or hitting the jackpot one day, we have to keep moving in our endeavor so that if such opportunity comes, it will become an added advantage and if it doesn't come, we are still good.

Only few gamblers experienced this one,because they may be the luckiest person then me.Since I do have experienced this one,it doesn't mean I don't experienced in the future.The situation only for now,being the regular gambler,I will wait to experienced this one.Because it will change my entire life,who don't like the asset from the gambling money.We only need to continue our betting in the gambling,one day our luckiest day will come.But many gamblers doesn't have the patience to eat the fruit.They will plant the tree and pour water daily and die or out from the field before the result come.

[el kaka22]

It doesn't make sense. Wealth is not like some sickness or anything, if you give the wrong people a lot of money, of course they will do the wrong thing but that is not because they had money, they were always that person but didn2t had the money to be who they really are.

Anyone who goes and does drugs and escorts and just dies off overdosing, were already a person like that but didn't had the money to do that, which is stupid because you could always sell your stuff and get a loan and have a night like that and you do not have to think about afterwards anyway, it is really a stupid thing to do and only a moron would do it. In the end anyone decent would know that you put it in a safe place with a small return that is guaranteed and make sure you do alright.

[Cling18]

I have heard of it and I know what it is and I know that people do experience it but I have not. I think it is what will happen to a man at least once in his life time. I can relate it to opportunity come but once and one is expected to make use of such opportunity of huge amount of money presented to him either in lottery or winning a bet. However, we don't need to allow our life to be stagnant in expectation of making it or hitting the jackpot one day, we have to keep moving in our endeavor so that if such opportunity comes, it will become an added advantage and if it doesn't come, we are still good.

Only few gamblers experienced this one,because they may be the luckiest person then me.Since I do have experienced this one,it doesn't mean I don't experienced in the future.The situation only for now,being the regular gambler,I will wait to experienced this one.Because it will change my entire life,who don't like the asset from the gambling money.We only need to continue our betting in the gambling,one day our luckiest day will come.But many gamblers doesn't have the patience to eat the fruit.They will plant the tree and pour water daily and die or out from the field before the result come.

This is honestly the only syndrome that I want to experience. It rarely happens to a few people because only a few has a chance to get wealthy instantly. I think it only happens to those who aren't prepared for their life changes. There are fears and doubts but what important is we know how to deal with it wisely.
Once we get the chance of winning huge sums of money, we should embrace it and be wise in handling our finances and in managing our emotions. We have to accept the changes and be wise in making decisions since not all of us could be lucky.

[ChiBitCTy]

   Sudden wealth syndrome, I can't say I've heard of this before and not real sure this is an actual thing or if you made it up..either way...I would love to contract SWS! 

The truth about this is people overall are simply financially illiterate, and they think "wow, I've got all this money all of a sudden, it's going to last forever" and often times it simply vanishes with over spending.  People tend to not do a good job of saving, and think that since they won, that they should keep gambling and it'll keep happening.

[rahmad2nd]

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?

Interesting, before that I didn't know about "SWS" Sudden Wealth Syndrome. but after reading from your review post, I thought for a moment and it seems I've experienced the same thing. in the case of gambling, I have never felt it. moreover, I'm not the type who likes to bet on the lottery. as you said, it is very likely that SWS symptoms will come to those who win the jackpot from the lottery. who was originally just an mediocre person, suddenly became a person who has a lot of money, aka rich. I believe, a syndrome like this has been experienced by most humans. in particular, those who initially lived in moderation or lived in all deprivation, then became rich in a short time.

Long story short, I experienced this phase, when the business I developed shot with very high graphics. plus, I get big profit from crypto investment. what you say, happened to me. but I feel more anxiety, and a high sense of fear. I think it's natural, even I don't know in the end I got used to it. so my conclusion, in the process one gets used to it. referring to gambling, this syndrome is rare. but we agree, lottery jackpot winners can experience these things.

[ralle14]

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've been there a few times after winning a few good casino promotions that I wasn't expecting to win, and what I did was exchange my winnings for fiat, as I don't have the same itch for spending money when all I have is fiat.

Gamblers need to be aware because even if they're not winning big in casinos, it can still lead them to make poor decisions that they shouldn't have made. They have to find a solution that would keep them grounded because winning can send a gambler's confidence through the roof and that's where the poor decisions could start.

[stomachgrowls]

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?

My first time on hearing out this kind of normal emotional reaction or thing which turns out that this would really be that typical on the time that you do able to make some huge profits. Wayback not on gambling but also in investing or futures on which i do make out that huge money on which it is really that true that you would really be mainly be thinking on how you would really be spending up and trying out to make yourself that private as much as possible but i didnt really come into a point on which im already isolating myself with my friends or family. Money is important but not on the sense that i would be making myself like a paranoid.

I should say that this is really a matter of self control since not all would really be that good in terms of sudden burst of emotions specially on having that money. They would really be trying out to be that isolating themselve
which it comes into a point that it is really that affecting everything around which its not really that ideal. This is why it would really be that important that you should really be that having that good control towards
your emotions and towards the mindset that you do really have.