Gambling Income

What does it Mean? 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 Says... 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.

Terms Related Links

Gambling Loss
Jackpot
Lottery

Terms Related Links
Gambling Income and Expenses - A short article on how the IRS addresses gambling income and losses.

Catching a Lift on the Penny Express - The popularity of the penny stock market has grown, but are these stocks a safe bet?




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