Tory Majority best odds now 1/16

[BigRed]

£10K would probably earn more than £400 on the stockmarket in a decent tracker fund in the same period

[jamesbrown]

Market forces - there used to be 10% tax on winnings, but you had the option to pay 10% tax on the stake instead. The optimists paid it on the stake, but the govt always knew that brought in more tax than if people paid on winnings (since most people lost). Then the bookies all went off to Gibraltar, where there was no tax, and it was realised that if the tax was abolished, most of the betting industry jobs would stay in the UK, and that was worth more than collecting what little betting tax was left to collect.
I agree, it is a bid mad that there is no tax on betting on horses, but God help you if you gamble on the stock market and win - Hector presents you with a nice little (not) bill for CGT.

OTOH, you can offset capital losses against capital gains. Offsetting gambling losses would be expensive.

[MarillionFan]

£10K would probably earn more than £400 on the stockmarket in a decent tracker fund in the same period

You find me somewhere which returns 4% in two weeks and I'll show you a ponzi scheme.

[MarillionFan]

Best is 1/25 again.

[chopper]

Best is 1/25 again.

Probably something to do with today's Yougov poll

CON: 49% (+3)
LAB: 31% (+1)
LDEM: 9% (-2)
UKIP: 3% (-2)

Must be about time that UKIP started being grouped under 'Others'?

https://yougov.co.uk/news/2017/05/12...our-31-11-12-/

[Mordac]

The missus ain't happy. She's like 'You bet £10k!!! What if you lose?!'

Me. "Do you think Labour will win?". Answer "No fecking chance"

Logically it seems, betting 10k to win £400 seems a bit mad. Anyone reckon I'll lose???

You won't lose, and it's easy money - provided your bookie doesn't go bust taking your 10k with him

[tomtomagain]

Why is there no 90% tax on gambling winnings?

It's probably tucked away in the Labour manifesto.

It's only fair that HMRC gets to share in your good fortune.

[tomtomagain]

Logically it seems, betting 10k to win £400 seems a bit mad. Anyone reckon I'll lose???

I don't think you'll lose. But then I was 100% sure that Trump could not possibly win.

You didn't fancy a spread-bet based on the number of Tory seats then?

[Mordac]

OTOH, you can offset capital losses against capital gains. Offsetting gambling losses would be expensive.

Capital losses? What be those?

[jamesbrown]

Capital losses? What be those?

It's what happens when you pile into Barclays and EasyJet pre-referendum