Can income from Arbing/Matched-betting be counted against you for Housing-Benefit??

Indie_Kid

April84 wrote: »

I only earn £150 - £250 per week from it anyways so not especially big money.

Except it is:
So, basically you're getting more money than you should.

April84

sh1305 wrote: »

Except it is:
So, basically you're getting more money than you should.

No im only getting the amount of benefits money that im entitled to.


But so as thats not enough money for me i also do this to get extra money.

(And the fact that by law this doesn't have to be declared to benefits service or taxman is just an added bonus)

DX2

Cough bullsh!t

April84

DX2 wrote: »

Cough bullsh!t

http://en.wikipedia.org/wiki/Income_tax_and_gambling_losses

In the Uk, wins are not taxable and losses are not deductible.

Robbie64

Money earned from gambling is considered capital. At £150 to £250 earned per week and large amounts spent then that adds up to a large amount of capital being received and presumably disposed of.

As discretionary housing benefit payments take into account capital which would otherwise be disregarded then there is the possibility here of benefit fraud being committed. Assuming this thread isn't some sort of wind up of course.

April84

Robbie64 wrote: »

Money earned from gambling is considered capital. At £150 to £250 earned per week and large amounts spent then that adds up to a large amount of capital being received and presumably disposed of.

As discretionary housing benefit payments take into account capital which would otherwise be disregarded then there is the possibility here of benefit fraud being committed. Assuming this thread isn't some sort of wind up of course.

I know for benefits you can have upto £6,000 before it would count against you.


But so long as i have under £6,000 in my betfair account / bank accounts would i be liable for any offence?

Robbie64

April84 wrote: »

I know for benefits you can have upto £6,000 before it would count against you.


But so long as i have under £6,000 in my betfair account / bank accounts would i be liable for any offence?

the £6,000 lower limit is for Housing Benefit payments. Discretionary payments are not payments of Housing Benefit and take into account all savings, there is no £6,000 disregard.

Indie_Kid

April84 wrote: »

http://en.wikipedia.org/wiki/Income_tax_and_gambling_losses

In the Uk, wins are not taxable and losses are not deductible.

Last time I checked, Wikipedia wasn't the most reliable of sources.

healy

Robbie64 wrote: »

the £6,000 lower limit is for Housing Benefit payments. Discretionary payments are not payments of Housing Benefit and take into account all savings, there is no £6,000 disregard.

Thanks. So that looks like further benefit fraud for Angel!

Robbie64

healy wrote: »

Thanks. So that looks like further benefit fraud for Angel!

Odds on, keeping with the nature of the thread!