Wager Mage
Wager Mage
Photo: cottonbro studio
The amount of gambling losses you can deduct can never exceed the winnings you report as income. For example, if you have $5,000 in winnings but $8,000 in losses, your deduction is limited to $5,000. You could not write off the remaining $3,000, or carry it forward to future years.
Swimming Swimming is one of the few sports that gives you a full body workout as it engages nearly all of your muscle groups.
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Experts suggest starting kids in competitive team sports after the age of eight. In the years before that, your child can't handle the pressure of...
Read More »Gambling losses are indeed tax-deductible, but only to the extent of your winnings and requires you to report all the money you win as taxable income on your return. The deduction is only available if you itemize your deductions. If you claim the standard deduction, then you can't reduce your tax by your gambling losses. Our TurboTax Live experts look out for you. Expert help your way: get help as you go, or hand your taxes off. You can talk live to tax experts online for unlimited answers and advice OR, have a dedicated tax expert do your taxes for you, so you can be confident in your tax return. Enjoy up to an additional $20 off when you get started with TurboTax Live.
Poker fish is a technical term used to describe a weak or an inexperienced player on the poker table but is also considered rude and derogatory. A...
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Both physical and digital products can be huge money-makers, as long as you have the time to invest in creating, marketing, and selling. Write and...
Read More »Two to 7% of youths develop a gambling disorder, compared with about 1% of adults, and many gambling disorders begin in adolescence. College students also gamble at higher rates than the general population. Family. People who have a parent with a gambling problem are more likely to have problems too.
Yale’s Center of Excellence in Gambling Research, one of two such centers in the nation, is supported by the National Center for Responsible Gaming and conducts groundbreaking research into gambling disorder. The Center, directed by Yale Medicine psychiatrist Marc Potenza, MD, PhD, has conducted the first brain imaging studies on people with gambling problems. These have found that the brain acts similarly during monetary reward processing in individuals with gambling disorder as it does in people with binge-eating, alcohol-use and tobacco-use disorders. Yale Medicine research has made advances in understanding the effects of such opioid antagonist medications. The Yale Center has also investigated gender-related differences in gambling behaviors and disorders. Next for the Center is tracking the brain’s activity during effective behavioral and pharmacological treatments. Dr. Potenza is also director of the Problem Gambling Clinic, a collaboration between the Yale Department of Psychiatry and the Connecticut Mental Health Center, which treats patients and conducts research into gambling disorder. He is also a consulting psychiatrist for and medical director of the New Haven component of the Bettor Choice program operated through The Connection.
A winning $100 stake could win up to $150 in profit, for a total payout of $250. At +250 odds, a pick is a definite underdog. A $100 wager stands...
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USD 300mn Jake Paul accepted Mike Tyson's USD 300mn offer for a boxing showdown and has also set a deadline of one year. Tyson earlier accepted to...
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A winner at 5-2 means that will pay $5 profit for every $2 wagered. The payoff is $7 which is the profit ($5) plus the cost of your wager ($2). May...
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In workplace settings, a bonus is a type of compensation an employer gives to an employee that complements their base pay or salary. A company may...
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