Court: Gambling losses can’t be deducted from state taxes
MADISON, Wis. - A River Hills man can’t deduct his gambling losses from his Wisconsin taxes, a state appeals court ruled Tuesday. The 1st District Court of Appeals ruled a state law that went into effect in 2000 prevents gamblers from counting losses against their winnings.
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Casino gambling facts:
- Bingo as we know it today is a form of lottery and is a direct descendant of Lo Giuoco del Lotto d'Italia - the Italian National Lottery organized in 1530.
- Legal gambling activities include state lotteries; parimutuel betting on horses, greyhounds, and jai-alai; sports book-making; card games; keno; bingo; slot machines; progressive slot machines; video poker machines; video keno machines; video blackjack machines; and video roulette machines.
- During the 1950s, the Senate Committee to Investigate Organized Crime in Interstate Commerce held a number of hearings on criminal influence in the casino industry. The committee was chaired by Senator Estes Kefauver, and the committee is also known by his name.
- The first recorded betting games were played with marked disks or bones (the forerunners of dice), and spinning wheels or shields.
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