What Does Gambling Income 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 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.

Filed Under: Taxes

Related Terms

Gambling Loss
Jackpot
Lottery
More Related Terms

Related Links

Gambling Income and Expenses - A short article on how the IRS addresses gambling income and losses.
Handicap The Market, Rack Up Gains - Investing on Wall Street and gambling on The Strip are not as different as they may seem.
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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