gambling losses
Bets gone wrong
Gambling losses are money lost through betting or wagering.
The term appears most often in financial and tax contexts, where gambling losses can sometimes offset gambling winnings: You can deduct gambling losses only up to the amount of your gambling winnings.
The phrase also describes the cumulative toll of a gambling habit: His gambling losses eventually cost him his house.
- debtMoney owed another
- in the holeOwing more than you have
- bankruptcyLegal status when insolvent
- second mortgageSubsequent lien on property
- casinoFacility for wagering
betting · wager · bad beat · ruin · addiction · chasing · double down · desperation · broke · maxed out · red · money pit · slots · poker · regret · odds · stake · compulsive
- money wasterslottery tickets, payday loans, overdraft fees, late fees, credit card interest
- tax deductionsdeductions, tax deductions, exemptions, standard deduction, itemized deductions
- gambling taxes
gambling lossesgambling winnings
Profits from wagering
winnings · jackpot · payout · lottery winnings · house edge
gambling losseshitting the jackpot
lucky streak · hot streak · winning streak · breaking the bank · lucky break
gambling, losses, gamble, gambled, gambler, gamblers, gambles, loss, lose