Gambling

Holes_in_my_pocket

is a income from gambling counted as a income with regards to claiming benfits

baza52

Holes_in_my_pocket wrote: »

is a income from gambling counted as a income with regards to claiming benfits

Im also interested in this answer.
My friend was playing skybet sunday night and had used my card to deposit funds.
He ended up winning just over £10,000 and this is on its way to my bank account as we speak.
The winnings will be gone from my account by the end of the week but i just hope it doesnt come back to bite me in the bum in the future.

Amistoso_2

winnings from gambling are not taxable so no it won't affect your benefit.
unless of course your on means tested benefit and have a substancial win that would take you over the capital/savings threshold to be eligible for that benefit.


hope that makes sense?

dmg24

Amistoso wrote: »

winnings from gambling are not taxable so no it won't affect your benefit.
unless of course your on means tested benefit and have a substancial win that would take you over the capital/savings threshold to be eligible for that benefit.


hope that makes sense?

This is not necessarily the case - it is one of those 'it depends' areas. Income being non taxable does not necessarily mean it is not counted for benefit purposes, a prime example being academic bursaries. However, with regard to gambling, the JCP will consider whether the gambling amounts to a leisure activity or is to such an extent as to become a professional activity. The latter would be counted as income for benefit purposes.

baza52, if you are claiming means tested benefits you will need to declare this new capital and explain the circumstances in which it was gained.

Indie_Kid

Amistoso wrote: »

winnings from gambling are not taxable so no it won't affect your benefit.

ISAs aren't taxable; but the money kept in them has to be declared.

dmg24

OP, you seem to have long term issues with gambling. Could I suggest that you contact one of the gambling addiction charities, such as Gamblers Anonymous, to help you with your problem?

Amistoso_2

sh1305 wrote: »

ISAs aren't taxable; but the money kept in them has to be declared.

you are begining to be a serious pain in the @rse!!!!!

KeaneFan10

Holes_in_my_pocket wrote: »

is a income from gambling counted as a income with regards to claiming benfits

You must be getting way to much on benefits if you can afford to gamble as well !

dmg24

KeaneFan10 wrote: »

You must be getting way to much on benefits if you can afford to gamble as well !

Gambling is rarely about what you can afford.

KeaneFan10

dmg24 wrote: »

Gambling is rarely about what you can afford.

Yeah true !

want2bmortgage3

I have been doing quite well on betfair, I started with matched betting but now just do a little bit of gambling mainly on football, whenever I see there are games on. Ideally I look in advance at the odds/form/recent results/league table etc. I sometimes bet before the game, but often just in-play as you can get a feeling about how the game is going.

Tonight for example, from £1000 sitting in betfair, I've ended up with £1227.

Beats my day job which earns me £55-60 a day for 7 hours slog!!!