A GAMBLING expert has revealed why many winners have their lives ruined after scooping up massive prizes.
Robert Pagliarini said a simple mistake such as not going to see a therapist after a huge win could have a negative impact your life.
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The financial wealth advisor and author also said reckless spending could see you draining your account.
After sharing advice in his book, The Sudden Wealth Solution: 12 Principles to Transform Sudden Wealth into Lasting Wealth, Robert said the first thing anyone should do is hire a lawyer, a tax expert and a financial advisor.
With many people feeling their relationships suffer after bagging a cash win, Robert said a counsellor is key to coping with stresses and anxieties.
He said it could be the difference between spending the cash wisely and not.
The next important thing to ensure you don’t throw away your fortune, is to pay off debts and then buy assets.
Robert told the BBC: “Assets are basically investments that return money to you, that appreciate in value or that pay you to own them.”
For example, if you bought an apartment you could rent it out.
With the monthly income you could then pay off the mortgage.
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It comes after one lotto winner gave £750,000 to his ex before blowing the rest on bad investments.
John McGuinness lost his entire £10million fortune after investing in a local football club and splashing the cash on family members.
One man even said his lotto cash was cursed after he managed to spend all £6.5 million of his winnings.
Lee Ryan, who hit the jackpot in 1995, ended up sleeping on the streets for two years.
He quickly blew his cash on a £1million country mansion and a fleet of luxury cars, including a Bentley, a Ferrari, a Porsche and a BMW with personalised number plates LEE 1, LEE 2, LEE 3, LEE 4.
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