Gambling

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Gambling

The act of wagering on an event or a game of chance in which the outcome is uncertain. This includes card games such as poker or bets on sporting events. In U.S. tax, all gambling income, regardless of where or how it was obtained, is taxable income and must be reported to the IRS. Professional gamblers may deduct all gambling losses against gambling income, but casual gamblers may only do so up to the amount of their gambling income.
References in classic literature ?
She had gambled recklessly on her power of fascination, and she had lost.
He had left her, when only eighteen; robbed her of jewels and money; gambled, squandered, forged, and fled to London: where for two years he had associated with the lowest outcasts.
Singapore restricts gambling generally, and the government is considering measures to also restrict online gambling, even though a third of Internet users in Singapore had gambled remotely at least once.
According to one national survey, 82% of American adults gambled during the previous year, and 23% played some type of game at least weekly (Ciarrocchi, 2002).
1%, had gambled through the Internet at least once and 6.