What do you do if you win $1,000 on Online Poker?

The whole concept of playing online poker for real money is to win, but what should you actually do if you win a modest amount such as $1000? There may be a temptation to play on and try to increase that bank balance, but is it best to quite while you’re ahead and do something more productive with it?

Upgrade your online poker setup.

If you play lots of online poker and can win big on it, you deserve a decent setup. That means potentially buying a new laptop, desk, computer chair – and general items to make your play sessions more comfortable and efficient.

Upgrade or maintain the car.

While $1,000 is unlikely to buy a new or used car, it could undoubtedly be spent on upgrading or fixing your existing car parts. It can be an arduous and expensive affair to sort out the automobile, meaning it is advantageous when you have an extra amount of money in your pocket from online poker.

Take a holiday.

Depending on your locality, $1,000 can usually afford a decent vacation to either a domestic or international destination. Why not use your poker winnings to spend time by the beach or explore a city you’ve never been to? Of course, you might even be able to play more online poker if you go to a state or country with more relaxed rules on the pastime! You can afford a decent hotel with lovely meals and possibly a few excursions with that money.

Take up a new hobby.

While you don’t need a significant cash injection to start a new hobby, it helps. Something like video games or tennis can have a lot of start-up costs like a console, controller, software or tennis racket, sportswear, balls, etc. If you get significant money from online poker winnings, you needn’t worry about the new hobby costs creeping into your regular outgoings.

Use it to bankroll your future poker activity.

If you’ve won all this money on online poker, it’s clear that you have some ability at the game. One good idea would be to use your winnings to finance your future play sessions, meaning you don’t have to use your wages or salary to prop up your play. The thing about online poker sites with real money cash options is that the winnings are simply credited to your account, so it has to be an active decision to withdraw it rather than simply rolling it over into the next game.

Get a new phone.

The chances are that you are reading this very article on your cell phone. If it’s an older model with a few cracks and slower to load, then with a decent poker win, you could definitely upgrade your phone. Even if it’s just putting a down payment on a contract, $1,000 will ensure you get the new phone you want.

Invest in stocks or other financial markets.

While you can invest in stocks or other financial activities (BitCoin, premium bonds, etc.) with almost any amount of money, it is usually better when you have a sizable budget. If you won $1,000 on online poker, you could make a decent little portfolio with a substantial stake across a few different markets.

Start a side business.

Do you have a hobby or pastime that can make you money? Whether you craft handmade gifts or make delicious street food, why not make it into a side business alongside your primary vocation and poker activity? Start-up costs can be overwhelming, but getting a $1,000 cash injection from online poker would certainly alleviate some of the financial burden.

Make a sizable donation to charity.

Do you have a cause that is close to your heart? Maybe you love animals or have had life-threatening diseases within your family. An institution or charity is probably trying to make the world a better place by raising funds for worthwhile causes. Donating a decent amount of money to a charity will hopefully make a difference to their overall mission, plus you might also find some kind of tax break in the process for yourself too.

Save it all.

While not the most exciting or exuberant use of the poker winnings, it is a very sensible idea. If a winner were to bank every cent of a $1,000 winning, it could be beneficial if they need it. For example, if something unexpected happened, like losing their job, automobile failure, or another unexpected cost, it would be great to have some money in savings.

Pay off any debts.

Again, this suggestion isn’t the most exciting but it is worthwhile. If you have any outstanding debts with credit loaners or other payments, paying them off is a good idea if you come into decent wedge money. Doing this will allow to prevent any other financial restrictions in the future.