Bob/PKB
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Occasionally I work for an entertainment company, dealing 21 at company parties and/or fundraisers. Got to wondering if any of you enjoy throwing your money away on games of chance, slot machines, horse races, lottery tickets/scratchers, sporting events, or ????? Any big winners?
2 Answers
eggplant
"I gambled and now I only have my underwear left." I never gamble and never will.
barra
I love two -up, only once i have had a small win and that was only $700 , every year, like the rest of Australia i bet on the Melbourne cup, always $10 for a win, needless to say i'have never backed the winner yet, really gambling is a mugs game, the punter who bragg they won big, are only getting a portion back of what they have lost over the years.
| 14 years ago. Rating: 3 | |
Here in the US, gambling winnings can be offset by losses for tax purposes. Once my brother-in-law won BIG ($65,000) at the horse races. He and his wife started collecting the losing tickets that were strewn about. At tax time, they present a shoebox full of the losing tickets. They had enough to offset the winnings. I agree, it's very few who come out ahead!
Here i Australia, only the interest earned on the winnings is taxable, if you won, say $30 million playing x lotto, it is payed out in full tax free, even winning a luxurious house is tax free , as long as you live in it for 12 months, of course if you sell it after the reqired time the usual duty taxes apply, as for all sales.
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