Congratulations on your giant head start in life as far as accumulating assets goes. I understand your stress, particularly since you don't have a clear vision of where your life/career/income is headed at this point. That's difficult psychologically. But financially, you do not have many problems right now - as long as you don't screw this up.
1. The single biggest thing you need to do is make your million dollar portfolio COMPLETELY OFF LIMITS when it comes to gambling. I realize you have been a "professional" gambler and have had success, but sometimes the worst thing that can happen to a gambler is to have early success. Many people spend the rest of their lives betting everything they have and then some once the tables have turned and their luck ran out. If you want to set aside $X per year or month for gambling and view it as a side hustle or hobby, that is fine, but make sure you never dip into the winnings you have now set aside.
2. Remember that you are an unemployed college student. Live like one; don't deplete your savings unnecessarily on living the high life like you still earn 6 figures a year. Reset your budget along with your income expectations so that you don't wake up in 5 years to find all your money gone. Earning $60K a year will feel great later on if you still have $1M growing in your portfolio. Earning $60K and having no other wealth or options will feel like crap if you blow this nest egg and have to start back over from scratch.
3. You say you've set aside enough cash to get you through college including living expenses. That is great. Round up by 20% and put that money in a checking account so you have peace of mind while you focus on your education. Take interesting classes that don't pertain to your major. Study abroad. Take an unpaid internship or two if you need to.
4. Volunteer and give some money away. This is important, as it will set you right psychologically and relieve your first world stress. I volunteered for a week internationally a few times with
http://www.crossculturalsolutions.org, and the perspective shift was life changing. Don't just donate money from a distance; really get out into the trenches and see how most of the world lives - and how they live mostly happily - on far less.
5. Put the rest of your money at ally.com or some other high yield savings account for now. Keep in cash $100K in reserves at all times as well as whatever amount you think you'll spend on a home and car in the next five years. Never having a mortgage will keep you far ahead of the pack and allow you to invest more aggressively without fear of portfolio fluctuations.
6. Talk to a CPA about whether your gambling earnings from last year count as earned income. If they do, or if you've set it up where your gambling efforts are basically like a small business, you may be eligible to at least make a couple of (backdoor) Roth IRA contributions for 2016 and 2017. Perhaps even on an ongoing basis if you keep it up and have future winnings. Either way, make sure your tax situation is in order.
7. Once you are comfortable with investing principals, I would move the remainder of your portfolio slowly into your desired asset allocation - maybe a little bit each month for 12 months or something, given that this is your entire nest egg. This will reduce the likelihood of investing just before a major market correction. Vanguard or Fidelity index funds are ideal - cheap, easy, and tax efficient.
8. Once you graduate and establish a career, max out a 401k and Roth IRA and HSA every year - even if that means you have to take money out of your taxable account to do so. Don't stress about it right now if you don't have access to these accounts. You have plenty of time!
. I agree with comments suggesting that you:
