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This is an gamvling definition. Are you too old to get a job?. All TurboTax mobile apps. These charity-sponsored games can include bingo, raffles, and even Vegas Night-style casino games, provided they follow an extensive set of rules issued by the state government. I maintain my independence and objectivity by refusing to sell insurance, annuities, mutual funds, or software — I do not earn commissions. File an IRS tax extension.Answer: Gambling losses are only deductible up to the amount of winnings reported in the same year. See Deducting Gambling Losses for more information. Can I offset my craps losses against my poker winnings? How to deduct your gambling losses. Description. Gambling losses count as a miscellaneous deduction , but are not subject to the 2% of adjusted gross income limitation that affects most miscellaneous deductions. Share - Click this link to Share this page through email or social media Print - Click this link to Print this page. Deducting Gambling Losses at a Glance. You may be able to deduct gambling losses if you itemize deductions.