DRO and Matched Betting

Thistle-down

I have been looking into matched betting and was wondering how proceeds from gambling would effect a DRO. I know it is not taxable, but is it considered income? Would a DRO be revoked if I earned more than £50 a month?

sourcrates

Hi,

To qualify for a DRO you must have £50 or less left at month end, after all essential payments are made, i think that answers your question.

Although there is no checking up on you, its up to you to inform the insolvency service of any increase in income, or of any windfalls over the allowable assets limit, if you dont, and you are caught, your DRO will be revoked, and you could face prosecution.

To be safe, just let the 12 months elapse, then you can do your own thing again.

Thistle-down

Thank you so much, I appreciate the clarification!