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  • agame2323

    For the first time, I finished in the top 5 of a single-entry tournament on DK! I didn’t win anything major, just a bit over a $1,000 but should I cash that out or just use it as a bank roll? I’m generally pretty good with bank roll management. But I’m tempted to at least cash out 20% of it. Thoughts or advice would be greatly appreciated.

  • IronMonkey415

    When I won $2700, I bought an iPad mini.

    I

  • mambaland

    oh and on one large one i put money in a cd till tax season so my wife would actually not have to pay any and we got a return..albeit our own money in cd

  • rgreuli

    Paid off credit card.

  • noddy

    If I win $100K or more (which I never will) I would retire and move to a country where things are cheap.

  • wolfjb1

    With my only big win (high 4-figures) I bought a new bed for one of my kids and paid my entire life insurance bill up front instead of financing and paying monthly. It was a dumb coincidence that I was in the process of getting a new life insurance policy when I won

    I live a really, really exciting life!

  • emnj69

    @noddy said...

    If I win $100K or more (which I never will) I would retire and move to a country where things are cheap.

    gonna have to be really cheap as 35-40 k will go to uncle sam……

  • depalma13

    I paid off my house. That came from a huge score on the Kentucky Derby, not DFS,

  • ORNO

    I took my kids to Disney land with my $7500 winnings.

  • 2Slik

    Won 8k on a $3 entry and cashed it out immediately. I had a rough start with a new job based off commission and little in my bank account. Within 2 months my wife had a child and the air conditioner went out in the middle of the summer. Not the most exciting purchase but it sure saved my bacon.

  • tmarohl

    I bought new floors and carpeting.

  • Ando37

    I was lucky enough to hit a 100k win in Week 10 last NFL season. I very nearly done the same again 3 weeks later!

    I cleared off all of my debt, other than my house. Cleared off some of my mother in laws debt that was partly due to our wedding. Put the rest by to go towards a deposit on a new house!

    If I ever do it again, then my plan is to take a career break at work and try my hand at DFS/Poker full time. Would need to be strictly NFL though, I am useless at every other DFS sport.

  • BIF

    @kbarnhill7523 said...

    If you take something big down and down cash out a large percentage of it… you are doing life wrong.

    I’ve been fortunate to have about a dozen 5-figure days and one 6-figure day and now all my debt is paid off, my kids have their college all set up and I got to pick my job based off what I want to do vs. what I have to do to make more money.

    Pay yourself and make something real out of it. If you are really good, more big cashes will come. Then you can pad the bankroll and move up stakes. But always pay yourself.

    Well said

    I’ve cashed 2 $25K wins, 1 for $40K, 1 for $20K and most recently I split the $1M top prize in the Sept 2018 Season Opener NFL Showdown about 53 ways for $24K and change each.

    Each time I’ve taken out 65-90% depending on where my balance was at. The most recent big WD was for $20K and I re-did the deck, patio, etc… on our house; and by saying “I re-did” I really mean I paid someone to do it 😂

    A few months before that I won the $40K in golf hitting two Top 3 or 4 finishes – paid off my wife’s vehicle, invested a bunch into some GOOG stock and took a couple weekend getaway trips.

    You gotta pay yourself in some way or why are we doing this.

  • BIF

    @ValuableTrader said...

    Pay those taxes,

    Good to be Canadian on this one….no tax on DFS winnings for us 🇨🇦 because of some obscure tax treaty between Canada and US – I’ve fortunately been able to keep/use all of the winnings I’ve pulled out.

  • hobbes2d

    • 826

      RG Overall Ranking

    @BIF said...

    Good to be Canadian on this one….no tax on DFS winnings for us 🇨🇦 because of some obscure tax treaty between Canada and US – I’ve fortunately been able to keep/use all of the winnings I’ve pulled out.

    /moving to Canada….in 3…2….1…

  • Mallen21

    • x2

      $1M Prize Winner

    • 2015 NASCAR Live Finalist

    Bought Texas Pacific Land Trust (TPL)

  • GoldenWolf87

    I cashed out my First MEGA 15k Winnings to my Bank
    Thank you again Draftkings for such an amazing experience last year.
    Hope to continue this year!

  • tipperi

    I’ve had a few big wins and over time have found a different approach. My first big win of 20K i couldn’t click withdraw quick enough. I used the money to put a nice downpayment on a truck i had been eyeing and put new floors in my house as well paid of some debt. Then, when i did taxes the following year, even though I had set enough aside it was really disheartning to see how much I had to cut a check to the fed’s for.

    After that my mindset changed. Everything sub 40-50K for me at this point is just bankroll addition. The dollar amount is relative and everyone’s idea of “alot” of money is different. I enjoy playing DFS, so cashing out and walking away will never happen. Every dollar in my account is treated as “bullets in the chamber” or opportunity to take down a prize large enough for me to withdraw. I dont know the exact number but for me it’s around 50K. If I hit for 15-20, that money will be used to chase 50 via smaller higher stakes entries or more MME entries. You have to ask yourself what is your end game? If you withdraw, and weeks later are back to depositing as normal, did you really buy anything with your DFS winnings? Or, did you buy something with money you would’ve saved had you not been depositing it all on a DFS site?

  • emnj69

    @BIF said...

    Good to be Canadian on this one….no tax on DFS winnings for us 🇨🇦 because of some obscure tax treaty between Canada and US – I’ve fortunately been able to keep/use all of the winnings I’ve pulled out.

    that is awesome really awesome-beyond jealous there

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