Gambling Income

AAA

DEFINITION of 'Gambling Income'

Any income that is the result of games of chance or wagers on events with uncertain outcomes (gambling). This income is subject to taxation.

INVESTOPEDIA EXPLAINS 'Gambling Income'

Gambling income includes any money earned playing slot machines, bingo or the lottery. It also includes money derived from betting on horse races, boxing, sumo wrestlers and almost anything else.

RELATED TERMS
  1. Gambling Loss

    A loss resulting from games of chance or wagers on events with ...
  2. Tip Income

    Income that a service professional earns that is not part of ...
  3. Lottery

    A game of chance, where winners are typically decided by a drawing. ...
  4. Jackpot

    The top prize in a game of chance. Jackpot prizes can be anything ...
  5. Hot Hand

    The notion that because one has had a string of successes, he ...
  6. Advance-Deposit Wagering - ADW ...

    A form of gambling on the outcome of horse races in which the ...
Related Articles
  1. Catching A Lift On The Penny Express
    Active Trading

    Catching A Lift On The Penny Express

  2. Handicap The Market, Rack Up Gains
    Options & Futures

    Handicap The Market, Rack Up Gains

  3. 5 Famous MLB Players Who Went Broke
    Investing News

    5 Famous MLB Players Who Went Broke

  4. What is Happening To Atlantic City's ...
    Economics

    What is Happening To Atlantic City's ...

comments powered by Disqus
Hot Definitions
  1. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  2. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  3. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  4. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
  5. Repurchase Agreement - Repo

    A form of short-term borrowing for dealers in government securities.
  6. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
Trading Center