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Your Gambling Losses Might Be Deductible There are a couple of important catches, though. First, unless you're a professional gambler (more on that in a second), you have to itemize in order to deduct gambling losses (itemized deductions are claimed on Schedule A). Unfortunately, most people don't itemize. So, if you claim the standard deduction, you're out of luck twice - once for losing your bet and once for not being able to deduct your gambling losses. Second, you can't deduct gambling losses that are more than the winnings you report on your return. If you were totally down on your luck and had absolutely no gambling winnings for the year, you can't deduct any of your losses. However, a note of caution: An activity only qualifies as a business if your primary purpose is to make a profit and you're continually and regularly involved in it. designer bags cyber monday

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    Online sports gambling company 888sport (pronounced as "Triple Eight Sport") is a multinational online sports gambling company headquartered in Gibraltar. It was founded in 2008 and is a subsidiary of 888 Holdings plc. 888sport was launched as the dedicated sports arm of 888 Holdings in March 2008, and as part of 888's gambling arm. [1] 888sport began to get involved in sports sponsorship in 2010, starting with a sponsored stand at Fontwell Park Racecourse. [5] In March 2019, 888 paid £15 million for Dublin-based Dedsert Ltd, which provided the sportsbook platform for UK-licensed bookmaker BetBright. [citation needed] 888 CEO Itai Pazner said the acquisition "gives us the missing piece in our proprietary and technology portfolio. designer bags cyber mondaycheap dior bags

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