Gambling Income

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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.

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RELATED FAQS
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    Speculation and gambling are two different actions used to increase wealth. However, the two are very different in the world ... Read Full Answer >>
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    Every year, thousands of people travel to gambling hot spots, such as the Nevada cities of Las Vegas and Reno, with the hope ... Read Full Answer >>
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