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You can deduct sports betting losses, but only as a possible itemized deduction — foregoing the regular deduction that many people take. Additionally, the losses an individual deduct can’t be greater than the amount of wagering income you statement. We graded Nyc on its sports betting bill and experience relative to some other states. Check out and about our betting education and learning hub to get started placing bets along with an understanding involving basic concepts and tools.
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