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The IRS defines gambling losses as money lost playing games of chance, such as Casino games Slot machines, poker, blackjack, roulette Lotteries State and national lotteries Horse racing Betting on horse races Sports betting Placing bets on sporting events Other forms of gambling Bingo, raffles, kenoHow to Claim the DeductionYou can claim the gambling loss deduction on Form 1040, Schedule A, Itemized Deductions.
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This revenue, along with taxes from racetracks, is allocated to state and local governments, with a portion dedicated to the Problem Gambling Addiction Fund.
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Data Used to Track You
The following data may be used to track you across apps and websites owned by other companies:
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Identifiers
Usage Data
Data Linked to You
The following data may be collected and linked to your identity:
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Contact Info
User Content
Identifiers
Usage Data
Diagnostics
Privacy practices may vary, for example, based on the features you use or your age.
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