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

1356

Comments

  • John_Gray
    John_Gray Posts: 5,821 Forumite
    Name Dropper First Post Photogenic First Anniversary
    The problem would be solved if you didn't get married and just gave your friend half of the winnings!

    Where were you expecting the money to pay for your wedding to come from if you hadn't won all that money on the horses?
  • Doodles
    Doodles Posts: 413 Forumite
    First Anniversary First Post Photogenic
    No, give your friend £50 as a token gesture, and keep the rest.

    Your friend should be glad that you have enough money to pay for a lovely wedding.

    Hopefully your friendship will survive!
  • an1179
    an1179 Posts: 1,839 Forumite
    Name Dropper Combo Breaker First Post First Anniversary
    Give your friend half - the winning amount is not the issue it's the principal. Value your friendship
  • Candyflossnan
    Candyflossnan Posts: 6 Forumite
    First Post First Anniversary Combo Breaker
    The fact that you're asking what to do is telling you !

    Had you refused the share of your friends winnings then fine but you apparently didn't, so IMO, you're morally obliged to offer to share of yours.
  • consumers_revenge
    consumers_revenge Posts: 3,545 Forumite
    Combo Breaker First Post First Anniversary
    Why you both gambling? Have you not read the match betting forum?

    You should both be coming away with a profit, regardless!!!!
  • BridC
    BridC Posts: 3 Newbie
    First Post First Anniversary Combo Breaker
    Give back the £50 that your friend won on his original bet.

    Pay for your wedding, and dot gamble again !
  • Pollycat
    Pollycat Posts: 34,655 Forumite
    Name Dropper First Anniversary First Post Savvy Shopper!
    There was a an episode of Moving On' on a similar subject (bingo win).

    Perhaps the originator of the MMD should try to watch that and decide if it's worth keeping the winnings all to himself.

    https://www.bbc.co.uk/programmes/b09rhmj0
  • jiffyy
    jiffyy Posts: 1 Newbie
    First Anniversary
    This is such an interesting question - thank you, and such interesting responses too. When you went to the races, was there any discussion between the two of you about bets and possible winnings and if you both agreed to split any proceeds? If there wasn't any agreement and your friend simply decided to give you half of his winnings because he was feeling generous at that moment, and you accepted his gift in the spirit of his generosity - this giving then was a gift. But if for him he then had expectation that you would give him half of your winnings on another occasion but this was never stated, then I do feel this is something which needs to be discussed openly between the two of you - because then his original gift came loaded with expectations on his side, expectations which in fact he kept hidden from you. There are so many ways of sharing good things. It's a complicated thing when a gift comes loaded - it then isn't a gift so much as a voucher for some return in the future.
  • WillP79
    WillP79 Posts: 2 Newbie
    You are right that it's not £10,100 profit because the £100 was the stake. However, as "regular gamblers know", betting tax was removed under Tony Blair. There is now a different tax on bookmaker profits. As for gambling wedding money, I would imagine the person got lucky at long odds, rather than getting their entire wedding budget to win it again.

    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.
  • spongebob1913
    spongebob1913 Posts: 17 Forumite
    First Post First Anniversary Combo Breaker
    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.



    errr - no there isn't? No tax on winnings - please don't spread BS!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards