You and a Buddy go to a Casino
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Alk8944
US Veteran
Unless there is a pre-existing agreement that he will receive a certain percentage of your winnings, or that you will re-pay him the $50 you owe him NOTHING. In reality you will probably lose the $50 in about 5 minutes!
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Donna K
Member
No question, it's a 50/50 split.
Grayfox
US Veteran
The answer is A.
He staked you and is entitled to half your winnings.
He staked you and is entitled to half your winnings.
Wait a minute, I'm a retired math teacher. So I go into a casino with a good buddy (gotta be, he is ponying up cash to play) and I can leave with $49,950 of money I didn't have going in, while improving said friendship, I win no matter how you cypher it. Joe
Defiantly A $50,000 in a situation where he spotted me $50.
If I went into a casino with a good friend, and we both only had $50 each to gamble with. If I won $100K, I'd give him $25K just for the fun of it.
If I went into a casino with a good friend, and we both only had $50 each to gamble with. If I won $100K, I'd give him $25K just for the fun of it.
Assuming no previous agreement, I think I'd give him $1K.
My reasoning is my not having $50 in my pocket going into a casino would be a simple oversight, forgetfulness, and I think a friend spotting me $50 would not be a big deal to him or her either.
It would be like lending me a lighter (if I still smoked), or spotting me lunch money at a place that only took cash. (Though in the case of lending small amounts of cash, always with the expectation that it will soon be returned.)
On the other hand, $1K would be a nice windfall for me or my friends. It would be appreciated if it were me that did the $50 lending.
It would be different if my friend and I were hard up, and $50 were hard to come by. In that case I would ponder the $50K split, and like to think I would do it.
My reasoning is my not having $50 in my pocket going into a casino would be a simple oversight, forgetfulness, and I think a friend spotting me $50 would not be a big deal to him or her either.
It would be like lending me a lighter (if I still smoked), or spotting me lunch money at a place that only took cash. (Though in the case of lending small amounts of cash, always with the expectation that it will soon be returned.)
On the other hand, $1K would be a nice windfall for me or my friends. It would be appreciated if it were me that did the $50 lending.
It would be different if my friend and I were hard up, and $50 were hard to come by. In that case I would ponder the $50K split, and like to think I would do it.
As the receiver of the $50 I go with 50/50.
As the loaner of the $50, I expect $50. Happy with any thing over that.
As the loaner of the $50, I expect $50. Happy with any thing over that.
I'd split it with him, after taxes of course. 
Split it down the middle. There are very few real friends that come our way during our lifetime. My wife ask the neighbor's wife to go with her to a casino years ago. My wife had tickets for a drawing and gave the woman half of them to fill out and neighbor's wife won $5000. She didn't even offer to help with gas. My wife still hasn't overed it!
Beware the IRS gift tax. If you give someone more than $17,000, any amount over that is subject to a gift tax of 18% to 40%. If you want to give the $50K, I'd treat it like a joint bet that both claim to avoid the high gift tax.
Disclaimer: I am not an accountant, but I do play one on the Forum.
Disclaimer: I am not an accountant, but I do play one on the Forum.
It would never happen to me. I have enough bad habits!
Is the $50 a loan or a gift?
If I had no intention of gambling and it was given unsolicited, I'd split 50-50.
If it was a loan because I intended to gamble and forgot my wallet, I'd pay it back and 'tip' my friend $1,000, unless he was in dire need and I was not, then more depending on his need.
If I had no intention of gambling and it was given unsolicited, I'd split 50-50.
If it was a loan because I intended to gamble and forgot my wallet, I'd pay it back and 'tip' my friend $1,000, unless he was in dire need and I was not, then more depending on his need.
DWalt
Member
What if your friend was Bill Gates or Elon Musk?
$50 and the Bellagio buffet.
RobertJ.
Member
I have three really close friends, and I'd split it 50/50 with any of them.
An acquaintance would get a smaller cut.
An acquaintance would get a smaller cut.
For those that replied 50/50 I'd bet that at least half of them wouldn't do that if it really happened to them.
BS walks, etc...
BS walks, etc...
B
Id give him the 50 back
If it was turned around, I wouldnt expect to get any more than that
Id give him the 50 back
If it was turned around, I wouldnt expect to get any more than that
BKLooney
Member
It's found money with your buddy backing, no question, absolutely a 50/50 split.
Define "Partner"
The only person that has to worry about paying a gift tax is the giver. And that only starts when you have given away 12 million+ dollars worth. The limit for a gift that can be given without having to be reported is in the 16,000 to 17,000 range depending on the year.
Tell your partner that you only broke even, and give the $50 back to the partner. Tell him it was a great learning experience.
I was going to say......
The first part of this problem would be getting me into a casino. So the question is hypothetical and I don't really have to make a decision. I have bad habits but gambling ain't one of them.
Oh, here are my reasons for not gambling.
1. I don't think it's smart.
2. I'm terrible at it.
If the first one doesn't get me, the second one will.
The first part of this problem would be getting me into a casino. So the question is hypothetical and I don't really have to make a decision. I have bad habits but gambling ain't one of them.
Oh, here are my reasons for not gambling.
1. I don't think it's smart.
2. I'm terrible at it.
If the first one doesn't get me, the second one will.
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I don't gamble & do not have any rich friends so count me out. LOL.
I'd be inclined to give them 10% - maybe 20% if they were more in need than me.
But since I don't gamble it isn't something I'll ever have to worry about.
When it comes to "luck" or "chance" I'm a real loser - which is why I don't gamble.
But since I don't gamble it isn't something I'll ever have to worry about.
When it comes to "luck" or "chance" I'm a real loser - which is why I don't gamble.
A little money on a ticket is OK with me.
When it came to love, I got the big winner!
She may be gone but I still love her and still talk to her every night when I check my Lotto tickets...
When it came to love, I got the big winner!
She may be gone but I still love her and still talk to her every night when I check my Lotto tickets...
YeshuaIsa53
Member
What if. I'm going to consider it was a gift from my partner. Optimistically,
my partner won $100,000 also. We would celebrate and have a wonderful time together, laughing at how it all turned out.
my partner won $100,000 also. We would celebrate and have a wonderful time together, laughing at how it all turned out.
Pisgah
Member
"Officer, I never met this man, and he won't leave me alone..."
