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RacingBetter News |
| Friday 17th September 2021 | |
The Best Ideas to Invest Your Winnings
Horse racing is a challenging sport – for the competitors and the bettors. It's unpredictable, even if you have a lot of experience. Horses are living beings and the slightest deviation from their top performance can reshuffle the cards. And that's where the biggest appeal lies for bettors.
The sudden surprises lead to high winnings for some bettors. But what should you do with the money you receive from a successful bet? There are various opportunities, of course. Some include spending the money on having a good time, others involve investing the money to let it grow.
Photo by Jeff Griffith on Unsplash
Investing Your Winnings
When deciding on a proper way to invest your winnings from betting on horses, you should ask yourself what you wish for. Do you want the money to sit in your bank account safely, or do you prefer other types of investments?
Many bettors decide to buy luxury items with their winnings. If you choose the item wisely, you can understand it as an investment. That's why many people decide to spend the unexpected bonanza on a nice watch like the Nautilus from Patek Philippe. Purchasing a Patek Philippe luxury watch is basically the same as putting your money in the bank – except that you can wear the watch and be proud whenever you look at it.
High-value watches are usually great stores of value. If you take good care of it, the trade-in value stays close to the original value. If the Nautilus turns into a collector's piece at some point, its value can even be a lot higher than it is today. If you prefer not to trade it, you can always pass it on to your children or other relatives after your passing. That way, the generations after you can still benefit from your success in horse race betting.
Money should go to the bank account, where it's safe. That's what many people believe. And yes, there's indeed a very little risk of losing your money there. But at the same time, bank deposits find themselves to be victims of inflation. The purchasing power of money becomes less and less every year. If the interest rate that the bank grants you cannot compensate for that loss of purchasing power, you can watch your money lose its worth.
Still, making a bank deposit can be a great option for those who are planning to spend their winnings shortly. That way, the winnings can contribute to the peaks of everyday life and serve a purpose.
They say that you should only wager with funds that you don't necessarily need. That makes sense, as a loss of your deposit is tantamount to the loss of your funds. Reinvesting your winnings can be a great opportunity to wager without taking additional risk. As your winnings are a bonanza, which you wouldn't expect for sure, it's merely a nice bonus.
Investing in ETFs or Volatile Assets Like Shares
Investing in your future is another wise thing to do with your winnings. To be on the safe side, ETFs can be a great option. As many bettors love the thrill, though, investments in shares or cryptocurrencies could be an alternative as well. That would be very similar to re-investing your winnings in more horse bets: You take risks, but at the same time, you won't put your personal funds at risk.
There is no right or wrong when it comes to what to do with your winnings, as long as you’re happy with your choice – be it a nice watch or not.
