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 ?
com (World Wide Tele-Sports) is a leading offshore gaming company, offering both Internet and telephone wagering to its worldwide customers.
LOS ANGELES -- TVG, America's Horseracing Network, announced today that it has discontinued negotiations on extending its television and advance deposit wagering contract with Churchill Downs Incorporated ("CDI").
Since Automated Wagering became a subsidiary of VLT in June 1992, we have made the commitment to strengthen Automated Wagering's focus on customer service and meeting the precise needs of the marketplace," said Lippon.
Through this platform, Youbet offers members commingled track pools, live audio/video, up-to-the-minute track information, real-time wagering information, phone wagering, race replays, simultaneous multi-race viewing and value-added handicapping products.
This service will enhance our live betting service by giving our customers a more complete live betting experience allowing many more wagering opportunities during the live sports event.
horse racing industry, characterized by declining attendance and wagering trends at many racetracks.
tracks with which the network has exclusive domestic television and account wagering rights to 26.
There is no one in the sports wagering industry with a better record than Mike in managing tech-based products and driving them to market.
We are very excited about debuting our latest mobile sports wagering innovation in a wireless format at the Palms.
account wagering companies, including Ladbrokes, William Hill and SkyBet, directly into U.