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LJN NewslettersNewsSectionsThe Matrimonial Strategist

Gambling and Divorce

BY Lynne Strober
September 26, 2011

Our society is filled with legal and non-legal opportunities to gamble for money ' casinos, sports betting, gambling clubs, etc. These activities obviously result in economic losses or gains which can negatively affect the assets, debts, cash flow expenditures and the lifestyle of a marriage. For the matrimonial practitioner, gambling raises a plethora of issues and considerations to address.

Equitable Distribution

In states that divide marital assets under an Equitable Distribution statute, all assets legally and beneficially acquired during the marriage are subject to equitable distribution. Accordingly, savings of the parties are subject to distribution. The question becomes: What happens if, instead of having savings, a party has significant gambling losses or debts as a result of gambling? Are these losses shared or are they one party's obligation? If it can be shown that this was a dissipation of assets and a squandering of marital money, then it is less likely that it would be subject to equitable distribution. On the other hand, if this was an ongoing known activity during the marriage, it could be argued that it was an agreed-upon risk of marital assets consented to by the non-gambling spouse.

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