Poker champ to put winnings in term deposit

The winner of the 888 Poker League grand final has revealed that more than half of his winnings will be placed in a term deposit.

Shaun Elliot took down the $56,420 first prize at Melbourne's Crown Casino, reports the Daily Mercury.

He revealed that $30,000 of his winnings will be placed in term deposit.

The gamer also plans to fix his car, purchase a new laptop, iPod, phone and LCD television.

It took Mr Elliot a total of 23 hours of play to emerge the victor at the event.

"I think you have to concentrate for 100 per cent of the game and it's about getting a good read on your players," he said.

Term deposits can be an excellent way to accrue interest and save money for large purchases.

Jillian Manly, the businesswoman behind mobile applications firm Min-i-Mags, recently highlighted this to Adelaide Now when she revealed that she used money from a term deposit account set up by her parents to purchase her first car and house.

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