What is ‘Gambling Loss’
A loss resulting from games of chance or wagers on events with uncertain outcomes (gambling). These losses can only be claimed against gambling income.
Explaining ‘Gambling Loss’
Gambling losses include the cash lost at the slot machines or when a “sure bet” comes up lame in the race. Total gambling losses claimed cannot exceed gambling income.
Further Reading
- Modelling vulnerability to gambling related harm: How disadvantage predicts gambling losses – www.tandfonline.com [PDF]
- Why are gambling markets organised so differently from financial markets? – academic.oup.com [PDF]
- Financial decision-making: are women really more risk-averse? – pubs.aeaweb.org [PDF]
- Gambling taxation: Public equity in the gambling business – onlinelibrary.wiley.com [PDF]
- Impact of problem gambling on financial, emotional and social well-being of Singaporean families – www.tandfonline.com [PDF]
- Problem gambling and its impact on families: A literature review – www.tandfonline.com [PDF]
- Gambling-related embezzlement in the workplace: A qualitative study – www.tandfonline.com [PDF]
