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  • Paymelate

    Hey guys I hope all is well last night I took down $25K in 2nd place this is my first big double figure winnings. What should I consider doing with this? I am 22 yrs old I don’t really have much bills etc. Maybe Invest? Withdraw some and gear up for NFL season?? I am a business orientated person. I love flipping money. A little bit about myself Ive been playing DFS for 2 yrs since 2015 I was a major losing streak till now.

  • moped_jones

    @ASalvaro said...

    All it takes is one big win like yours..Now you can become a biggie and do max entries every night

    I don’t see a problem with this. We see who’s on top of the leader boards most nights.

    Put a couple grand in your bankroll and play 10% a night. Cash games and GPP. For me, I would focus on NBA & NFL (baseball is too inconsistent). Use the rest to go towards taxes and whatever bills the I have.

  • kbarnhill7523

    • 355

      RG Overall Ranking

    • 2018 FanDuel WFFC Finalist

    • x2

      2017 FanDuel WFBBC Finalist

    My first big win (around $25k) was week 1 of the 2015 NFL season. I withdrew almost all of it… $20k (set aside some for taxes obv) but used the rest to get my life in order. I socked away some to savings. I paid for a really fun trip. I paid off some of my mom’s bills for her.

    I had earmarked a certain amount of money to play DFS over the football season ($5k)… so I kept that $5k in and then made it so I wouldn’t have to re-deposit for the rest of the season. It was extremely freeing and I had another big hit in December of 2015 ($20k). I took out all but $5k of that and set aside for taxes and then bought a house with my then fiance (now wife).

    So, my advice would be… take out 80% for taxes and take care of life stuff. You may never get this opportunity again. Even having 4-6 months of savings in your account is one of the most freeing experiences you can have. But seriously… don’t forget to pay your taxes. The govt always comes to get their $$$.

  • sonic999

    Play two 3 mans with CA and PG for $10k each.

  • ASalvaro

    @superstars92 said...

    Congrats on your win. However, I just want to caution you 25k is not a lot in the grand scheme of things in life. You can easily blow through that amount on like a 1 month vacation. I would withdraw a ton of it, and you definitely should be excited on your success, but remember not to get carried away would be my advice.

    That’s for sure I’ve had $125,000 in a lump sum twice in my life and both were gone in 2 years each ..So I know how fast it can go lo!

  • monds6

    • 142

      RG Overall Ranking

    • x2

      2015 DraftKings FCFWC Finalist

    • 2013 DraftStreet DSFC Finalist

    1.) Set Aside for Taxes (40% as most have said)
    2.) Pay off any outstanding debts if you have any
    3.) Pay for any Season long NFL or Suicide Pools you plan to play
    4.) Open a Roth IRA (5500 – assuming your annual income is less than 133k) – Contribute the maximum every year you can from here on out
    5.) Have a very nice dinner out with friends, girlfriend, or family and pick up the tab – tell them why you could – maybe normalize DFS a little for them
    6.) Play smart, and continue to manage your bankroll

  • bhdevault

    • Lead Moderator

    • Blogger of the Month

    @monds6 said...

    1.) Set Aside for Taxes (40% as most have said)
    2.) Pay off any outstanding debts if you have any
    3.) Pay for any Season long NFL or Suicide Pools you plan to play
    4.) Open a Roth IRA (5500 – assuming your annual income is less than 133k) – Contribute the maximum every year you can from here on out
    5.) Have a very nice dinner out with friends, girlfriend, or family and pick up the tab – tell them why you could – maybe normalize DFS a little for them
    6.) Play smart, and continue to manage your bankroll

    Ha, I did #5 and to this day, my buddies still ask me about DFS. I would suggest buying a girlfriend/wife a very nice gift as well. Does wonders for her allegiance to DFS.

  • ATL_Gunner

    @monds6 said...

    5.) Have a very nice dinner out with friends, girlfriend, or family and pick up the tab – tell them why you could – maybe normalize DFS a little for them

    I won about $3500 towards the start of MLB last year. Not that much, but put me over the top for what I’d been saving for an engagement ring.

    When we put it on our homeowner’s insurance policy and she did a “wait – how did you afford this” – lots of attitudes changed :)

  • XxHeisenbergxX

    You said it yourself you have been on a 2 year losing streak until now (so you have your answer). My advice withdraw the money pay your taxes, put 100.00 in your account and start all over. Do something productive with the cash…Congrats.

  • Paymelate

    Thank you so much your input guys and your past experiences it means a lot! We have a real community in here on the forums :)

  • Paymelate

    Lol every fish must turn into a shark someday right :)

  • Paymelate

    @depalma13 said...

    Withdraw 86%.

    lol why so specific 86%?

  • Shipmymoney

    • 57

      RG Overall Ranking

    • Ranked #14

      RG Tiered Ranking

    • x3

      2016 DraftKings FBWC Finalist

    • 2016 FanDuel MLB Playboy Mansion Finalist

    Definitely don’t think the tax thing can be overstated. Make sure you set that aside and don’t touch it. It can definitely come back to bite you in the ass if you do

  • Nelson01

    Grats to you id take a good bit out 50-75percent maybe invest that into an index fund like VTI if you know about stocks and etf’s i use the robin hood app or maybe start an IRA or something through another brokerage. I’m not a stock or savings expert but this sounds like a solid idea to me.

  • kellykip

    You should take it all out*, and just sell your selections on twitter. And unlike 95% of them, you actually have over $1,000 in lifetime cashes.

    *pause

  • Colin408

    @sochoice said...

    Put 40% aside for taxes (overestimating, but better to be conservative), then take $1k and buy something fun for yourself, leave $1k in your DK account to play with and withdraw the rest and put it in the bank.

    +1 don’t take it as an opportunity to go up in stakes. Just keep doing what you are and maybe add a little more volume, never spend more than 5% of your bankroll on any slate or one contest.

  • MarvG

    Congratulations. Put some aside for taxes. Use some of it to take a trip or buy something you always wanted.

  • emac

    @ATL_Gunner said...

    I won about $3500 towards the start of MLB last year. Not that much, but put me over the top for what I’d been saving for an engagement ring.

    When we put it on our homeowner’s insurance policy and she did a “wait – how did you afford this” – lots of attitudes changed :)

    That is a great story ATL_Gunner!

  • JGENNARO29

    • $1M Prize Winner

    • 2019 DraftKings FFWC Finalist

    @bhdevault said...

    Ha, I did #5 and to this day, my buddies still ask me about DFS. I would suggest buying a girlfriend/wife a very nice gift as well. Does wonders for her allegiance to DFS.

    LOL same for me! She used to give me crap over it and now she purposely leaves me alone to make sure I can “study” and put together my lineup(s).

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