MMD: Should I split my winnings and risk my wedding?

jflmutley

easy make him best man then he can pay for the cars and sundries out of the winnings!?
or just share
what goes around comes around you either share good fortune or you don't
friendship is way too valuable to mess with either you look after your mates or you don't

how were you going to pay for wedding before?

r U going for a money wise or silly money wedding now that would be worth discussing
bon voyage:beer:

Pollycat

WillP79 wrote: »

Anyway, back to the thread...my advice in this situation is NEVER to split winnings, because it often leads to dilemmas like this. If you want a fun day at the races with someone who has less money, give them half of your pot on the way in, but never on the way out. I have done this a number of times.

But in this situation (aka MMD) the precedent has already been set to split winnings...

MSE_Naomi wrote: »

This week's MoneySaver who wants advice asks...

A friend and I went to the races and he won about £50, which he split with me. On a more recent visit together I won a much larger amount - enough to pay for my forthcoming wedding. He says I should split it with him, but then I won't be able to afford my wedding. Can I get away with giving him a token amount?

ykhan16

Firstly you should have refused him splitting his winnings because it sets a precedent that they will be split in the future- that much is quite obvious.


Going forward it really depends on how much of a friend he is. Best thing to do would be to be open and honest, say that you need the money for your wedding- if he's a good friend he will understand. Personally after this I would offer a token amount to put you back in his good books.


If he's not understanding then sod him!

NBLondon

Pollycat wrote: »

But in this situation (aks MMD) the precedent has already been set to split winnings...

Not necessarily... depends on what was said at the time - did the (possibly imaginary) OP say "Ta mate, I'll do the same if I win next time"? Then there's a precedent... Otherwise there's only an assumption...

Of course, the realistic solution is to say "Hey, pal. I'd really like to share but this is just what I need to surprise my beloved with the wedding of their dreams...." A good friend would not insist on splitting after that, would they? Is the friend more important than the spouse-to-be? What's the loss if that former friend never goes to the races with you again?

JWM

REJP wrote: »

It is not £10,100 profit. Regular gamblers know there is a gambling tax to deduct from winnings.
Don't gamble your wedding money, very unwise.

As mentioned 20+ years ago there was a 6% tax on High Street bookies. There has NEVER been a tax on on-course bookies. Clearly you are not a 'Regular Gambler'!

As to the question, of course you split the winnings, what's wrong with you?

Opps fell into the trap of thinking this was genuine.

VT82

rach_k wrote: »

If you had an agreement to split it 50/50, I think you should, but only if you actually spoke the words. Accepting his gift previously isn't the same as making the agreement, I don't think. If he wants to argue that it is, you could argue that the agreement was to give the other person £25 (or whatever exactly he gave you).

Absolutely this. £25 is a token amount, which just happens to be half of what his friend won. If the friend won a huge sum first time around, would he still have split it equally, or just given you a token amount (maybe still £25, maybe a bit more, who knows)?


If the intention is that all winnings are split equally, then a pot should have been set up for betting so that all stakes can be split equally. The fact this isn't the case means that there's no compulsion to split all winnings equally.


This is the Money Savings Expert forum. Everyone saying 'of course you have to split the winnings' should stick to Twitter for their virtue-signalling :rotfl:

JayD

Well it seems to me, if you already have a 'forthcoming wedding' , then surely would already have budgeted for it - without banking in a large win at the races. In which case, play fare and reciprocate your friend's previous generous gesture.

If funds for your wedding are so tight, what are you doing gambling with your precious money anyway?

cwc1899

Yes you should split it!
The amount is immaterial.
You are reneging on an agreement even if it is not written down and the shame is all yours.....

cwc1899

VT82 wrote: »

Absolutely this. £25 is a token amount, which just happens to be half of what his friend won. If the friend won a huge sum first time around, would he still have split it equally, or just given you a token amount (maybe still £25, maybe a bit more, who knows)?


If the intention is that all winnings are split equally, then a pot should have been set up for betting so that all stakes can be split equally. The fact this isn't the case means that there's no compulsion to split all winnings equally.


This is the Money Savings Expert forum. Everyone saying 'of course you have to split the winnings' should stick to Twitter for their virtue-signalling :rotfl:

Those who would say don’t share would be condoning untrustworthiness and selfishness and a conscience to plague them for the rest of their life...

minicooper272

This thread is a bit off sometimes!

You're under no obligation to split the money at all, and I've no idea why people are saying you are. The fact your friend gave you 50% of their winnings is their choice, and does not form any precedent/agreement that you should do the same. Your friend is simply after free money.

You are welcome to give them a token gesture, but you're not obliged to. £100 would do, £50 would do.