Let’s get real: the biggest risk is to your dignity. If the wine smells like a wet dog or tastes like vinegar, you’ll regret it instantly. But there is a tiny chance of mold growth if the cork is damaged or the wine is stored in a damp place. Moldy wine can cause nausea or an upset stomach—but that’s rare.
The more common issue is acetic acid bacteria, which turn ethanol into acetic acid (hello, vinegar). Drinking a little vinegar won’t hurt you, but it’ll make your face scrunch up like you just sucked on a lemon. Been there, grimaced that.
Sparkling Wine Shelf Life at Terry Summers blog