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gambling loss - 1 dictionary result
Gambling Loss
A loss resulting from games of chance or wagers upon events with uncertain outcomes (gambling). These losses can only be claimed against gambling income.
Investopedia Commentary
Gambling losses include the cash lost at the slot machines or when the "sure bet" came up lame in the race. The total gambling losses claimed cannot exceed the gambling income.
Related Links
Catching a Lift on the Penny Express
See also: Gambling Income
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