Winning Big And Losing Everything: Is Your Obsession Worth It?

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Many people are obsessed about winning money!

Maybe you’re one of them?

Did you know that 10.6 million Australians aged 18+ (55.4%) gambled in the 12 months to June 2018, including 8.6 million (44.8%) who bought a lottery or scratchie ticket?

Harmless fun you may think, and for many it is.

However, for some, the obsession to win has become an addictive, detrimental behaviour that has destroyed lives, families and friendships.

I’m ZOE SLATER and I’ve worked with some client’s who have an obsession with gambling and winning money. This has been an issue in their lives and has caused stress, bankruptcies and marriage breakdowns.

Today, I would like to share some insight on how we could all better manage our obsession with winning money.

The statistics show that one out of two adults are hoping for the ‘Big Win’.

The REALITY of you winning either Powerball or Mega Millions are roughly 175 million to one. Despite those odds, one third of people believe that their only way to retire is to win the lottery.

And the worst part…..

Most people who win money, end up back in the same financial situation they were prior to their win.

Or even worse off!

So…are YOU obsessed about winning money?

Let’s explore the topic of a “Big Win” through my client, Bob, (not his real name).

Bob tells me that, prior to the “WIN”, he had been unwell physically and emotionally. He had financial challenges, was not coping with work, his family was suffering, and he was desperate to get better and “fix” his life.

He thought that his recent, ‘Big Win’ would have made his life better, but the reality was, it made his life worse.

Let me share with you some of Bob’s ‘Big Win’ story and the lessons that he learnt.

His parents had a significant “WIN” from Lotto and gave him a substantial amount of money.

Bob’s desperation to fix his life and get better disappeared with the ‘Big Win’. All Bob’s worries temporarily vanished.

What do you think Bob did with the money?

Like many “Winners”, he upgraded his car, had expensive dinners, did more gambling, paid off some debts – And created more debts by buying unnecessary gadgets and toys.

Before long, Bob was now back to where he began. Feeling worse and even more broke than before.

That’s when he came to see me.

He admitted his regret of not slowing down.

Not letting the money sit in his account for a few weeks so that he could really think about how best to invest the money or even consider getting professional advice.

Bob was now painfully aware that he needed to change his emotional and mental mindset about himself and his money mindset.

That “Big Win” had made him an even bigger spender and more materialistic than before. His behaviour affected friendships and sheepishly, he had hoped that his parents would give him more money from their “WIN”, which didn’t happen.

It was a hard lesson for Bob!

If you do have an obsession about winning, I don’t want to make your obsession right or wrong, but I do want to make you think.

Will winning money help or hinder you?

Is it building false hope like Bob?

Are you willing to change your money mindset?

Let’s look at your Big Win mindset with the help of Bob’s story.

Here are six lessons from Bob’s story, to help you explore your obsession about winning money.

Try not to jump forward. Get a pen and answer each question thoroughly before going to the next question.

1. Bob realised that winning money didn’t improve the important things.

For example, he hadn’t learnt how to think and behave like a financially successful person.

It didn’t teach him the mental and emotional disciplines to turn money stress into money success.

Can you learn from Bob’s mistake?

If this was you, what emotional and mental disciplines would you need to implement now?

What habits do you need to change, so that if you were to win money, you wouldn’t lose it?

2. If you don’t win money. How will that affect your life?

Remember the odds of winning lotto are 175 million to one. The reality is, you’re not very likely to win.

In reflection, Bob recognised that by not winning money, he kept constantly whinging about not having enough money. Waiting for that lucky break. A cycle of wishing, hoping and gambling again, constantly needing to take a punt to change his luck.

With guidance and support, Bob was able to work through his obsession with winning money and came to realise, that HE is the only one who can change his luck.

He learnt, that his preferred behaviours, done daily, have become his successful money rituals, which he is now proud of.

How does NOT winning money make you feel?

3. Bob recognised that he had an issue.

Bob came to realise that he was letting his situation slowly get worse and that he had become incredibly desperate, agitated and moody.

He wasn’t pleasant to be around.

Ironically, waiting for the “Big Win” allowed him to feel lucky, confident and good about himself, even though it was only for that moment.

When he did have his “WIN”, he had a sense of pride, a sense of being victorious and was one of the very few times in his life, that he felt confident.

He was addicted to that high, constantly chasing the same feelings that he got from “WINNING MONEY”, by spending hard earned money or borrowed money on the chance of winning again.

After working through his feelings and emotions related to his money issue, Bob decided to stop buying Lotto tickets and deleted his punting apps.

It was a struggle at first, but he did it.

4. Bob realised he had to tell his friends about his ‘gambling’.

Bob needed his friends support. He shared his situation with them, and they agreed that they would NOT encourage him to bet or buy tickets.

He asked for and received praise and recognition for NOT gambling and NOT chasing the ‘Big Win’.

How many days a week do you think Bob gambled for it to be a problem?

How many days a week do you place a bet to win money?

Now, please times that number by 52 weeks a year.

Write down your answer and consider it for a few minutes.

Are you OK with it?... or does it make you feel uncomfortable?

5. Bob now has a bank account called ‘Winning Money’.

So now, instead of gambling with his money, he puts some toward debt reduction and some into a locked Christmas savings account that he cannot touch. This money would be spent directly on family pleasures.

What would you do with the money saved from NOT gambling and NOT chasing the Big WIN?

6. Bob took control of his finances and started saving.

He worked out, that at the end of 52 weeks, the money in his account will contribute to solving some of his financial problems.

And, he created new money success rituals and behaviours along the way.

Every day he feels so much happier, excited and proud of himself.

Watching his situation change was a transformation. He became a ‘Man Who Maketh The Money’.

Yes… Bob turned his money stress into success.

I trust that by sharing Bob’s story and his obsession about winning money through his six lessons, has opened your mind and heart to help you, or maybe a loved one. The key points are:

• Winning money doesn’t improve your money mindset.
• You need to establish successful money rituals.
• Winning money is a false high, parading as confidence.
• Ask friends to support you, even praise you, when you don’t gamble.
• Save the money you win for a worthwhile purpose.
• Take self-pride in turning money stress to money success.

Some extra things to think about

Bob not only transformed his life, but also his family who counted on him dearly.

He won back their respect and trust. Two things he thought were irreparable.

MAKE A PACT TO ACT – practice the art of having money success and I assure you; your life will start heading in the direction you desire.

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The 3 Critical Reasons....

Why You Wake Up Exhausted Every Day,

You’re Losing Money In Your Business Every Month,

Or You’re Worried About Your Marriage Surviving The Year.