Gambling Losses May Be Deducted Up to the Amount of Your Winnings Fortunately, although you must list all your winnings on your tax return, you don't have to pay tax on the full amount. You are allowed to list your annual gambling losses as an itemized deduction on Schedule A of your tax return.
I never really won big, I just won 800 bucks after a year of playing slots. I don't know how I went from saying, 'those machines are a trap' to becoming addicted to them. I usually would win a quick 25 bucks within a few minutes which turns into 1,000 Php and it goes a long way here. But I would get stuck and end up 250 bucks in the hole. It sucks!
I recently made like 500 bucks a few months ago, and things started getting really bad. I would pay off everything then blow the rest of my paycheck, living off 8 dollars a week. I told my girlfriend 2 months ago, but nothing happens. I just don't tell her that I go. She wonder's where my money is going, and to everyone else I just lie and say that I send it to my kid when in reality I don't send her that much.
I Keep Losing All My Money Gambling
I just slept for 12 hours last night. I knew that if I went out, I might head to the casino. I dunno if my body is experiencing withdrawal, but I constantly think about gambling. My last bet was 2 weeks ago where I was just supposed to play $25, I won $25 in the first minute and realized I shouldn't be there. Instead of leaving I blew through that and ended up in my 250 dollar hole as usual.
Walk of shame leaving the casino, saying the same things as everyone else. How could I be so stupid, what's wrong with me, why can't I control it?
Any words of advice? All I think about are chasing my losses. Like I keep thinking if I just hit $400, I'll stop. That number has grew to 800 dollars. Not possible with a slot machine.