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.

BREAKING DOWN '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. Advance-Deposit Wagering - ADW ...

    Advanced-deposit wagering is a form of gambling in which the ...
  2. Income

    Income is money that an individual or business receives on a ...
  3. Pari-Mutuel Revenues

    The income a gaming company earns from customers' mutual betting ...
  4. Double Taxing

    A tax law that causes the same earnings to be subjected to taxation ...
  5. Taxation

    Taxation refers to the act of levying or imposing a tax by a ...
  6. Business Income

    Business income is a type of earned income, and is classified ...
Related Articles
  1. Investing

    Investing Vs. Gambling: Where Is Your Money Safer?

    Many people who have never invested before see it as just another form of gambling. Find out the truth.
  2. Investing

    Inside Procter & Gamble's Strategic Transition and Optimization (PG)

    Learn how Procter & Gamble's new CEO David Taylor could help the company's efforts to improve profitability and grow shareholder value.
  3. Investing

    Will Procter & Gamble's Restructuring Pay Off?

    Procter & Gamble has whittled down its brand portfolio from 160 to 65. Will this strategy pay off?
  4. Insights

    Procter & Gamble: $49B in Foreign Profits (PG)

    Keeping cash overseas might seem unpatriotic, but it's optimizing the company's situation.
  5. Trading

    Procter & Gamble Reports Earnings in Oversold Zone

    Procter & Gamble reports earnings on Friday with a market-neutral P/E ratio of 20.95 a solid dividend yield of 3.66%, making it a "Dog of the Dow."
  6. Trading

    Handicap The Market, Rack Up Gains

    Investing on Wall Street and gambling on The Strip are not as different as they may seem.
  7. Investing

    The Worst Bets You Can Make At The Casino

    We break down the odds associated with casino games. Which game do you think offers the best chance at winning?
  8. Insurance

    Procter & Gamble Hikes Dividend, Nears 52-Week High (PG)

    The company expects to distribute $7.5 billion to shareholders, making Procter & Gamble a solid investment as it raises more cash from divestments.
  9. Insights

    What is Happening To Atlantic City's Gambling Industry?

    It is quite ironic that Atlantic City, once a bustling seaside resort, home to Miss America Pageant and the inspiration for the iconic “Monopoly” game finds itself in economic doldrums today.
  10. Investing

    How Brexit Works for Two Companies in the Same Space (PG, UN)

    Similar companies; different situations.
RELATED FAQS
  1. What taxes are due on money won gambling in Las Vegas?

    Travel to Vegas and try to win big at the casino. But before you do, make sure you understand the tax laws that govern gambling ... Read Answer >>
  2. What is the difference in tax liability between gross income and other kinds of income?

    Find out how the U.S. government taxes worker's earnings, whether it is gross income or income exempted or excluded from ... Read Answer >>
Hot Definitions
  1. Internal Rate of Return - IRR

    Internal Rate of Return (IRR) is a metric used in capital budgeting to estimate the profitability of potential investments.
  2. Limit Order

    An order placed with a brokerage to buy or sell a set number of shares at a specified price or better.
  3. Current Ratio

    The current ratio is a liquidity ratio that measures a company's ability to pay short-term and long-term obligations.
  4. Return on Investment (ROI)

    Return on Investment (ROI) is a performance measure used to evaluate the efficiency of an investment or compare the efficiency ...
  5. Interest Coverage Ratio

    The interest coverage ratio is a debt ratio and profitability ratio used to determine how easily a company can pay interest ...
  6. Cash Conversion Cycle - CCC

    Cash conversion cycle (CCC) is a metric that expresses the length of time, in days, that it takes for a company to convert ...
Trading Center