Gambling

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Related to wagering: Wagering contract

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 periodicals archive ?
The company's Players Trust(SM) revolutionized advanced deposit wagering by placing player deposits in the custody of a major U.
Safe Harbor Statements under The Private Securities Litigation Reform Act of 1995: This release contains certain forward-looking statements, including statements regarding table game content and sports wagering systems and technology providing innovative wagering applications and the creation of additional revenue opportunities for operators.
We respect our relationships with horsemen and racing fans at CDI tracks and sincerely regret that they may not be able to easily access CDI races on television, wager on CDI races on TVG's wagering platforms, or share in purse revenue generated from TVG's advance deposit wagering and source market fees following the expirations of our current agreements with CDI," Nathanson said.
In his consulting capacity, he helped evaluate and recommend design and operational changes for the California Fairgrounds network of 23 off-track simulcast wagering facilities resulting in $20 million in capital improvements projects.
We are very excited about debuting our latest mobile sports wagering innovation in a wireless format at the Palms.
That broad distribution combined with the expanded opportunities for account wagering in the UK and Ireland makes this a very exciting development for TVG and our track partners.
Youbet's competitive advantage derives from a combination of superior technology and top quality service for our wagering customers.
With 30 years in this business, no one in our industry has a deeper understanding of the online wagering channel and its ability to serve the needs of customers and track partners than Jeff Franklin," said Champion.