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 periodicals archive ?
Males gamble three times more than females (Jacobs, 2004).
Compared to non-Indigenous students, ATSI students were more likely to gamble frequently (35.
To be sure, many youths gamble harmlessly on certain activities with no negative effects (e.
The frequency one gambles is related to his or her perception of how important religion is in his or her life.
The more one gambles against these odds, the more certain it becomes that one will lose.