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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in classic literature ?
It's a mighty big come-down from gambling for a continent to gambling for a job."
"Gambling," she would say, "dear, is good to help your income, but not as an income itself.
The one paid down the money and the other took it, and the latter quitted the island, while the other went home; and then the governor said, "Either I am not good for much, or I'll get rid of these gambling houses, for it strikes me they are very mischievous."
A great portion of their time is passed in revelry, music, dancing, and gambling. Their music scarcely deserves the name; the instruments being of the rudest kind.
In a row, against the opposite wall, were the gambling games.