Few experiences match the thrill of hitting the jackpot. The sudden influx of cash can be life-changing, offering financial freedom and seemingly endless possibilities. But for many winners, that dream quickly turns into a cautionary tale. Despite their newfound wealth, some find themselves bankrupt within just a few years. Financial illiteracy, poor investment decisions, and reckless spending can bring those winners who weren’t careful to their knees.
In this era, collegiate athletes who land lucrative NIL/rev share deals experience a similar kind of windfall. A flood of life-changing money rushes toward recruits, often with little to no guidance on how to manage their newfound wealth—or how to steer clear of shady NIL deals.