great post mempho, very informative, I have to bump it. So if you were a loosing player but you made a good living at a real job could you deduct your loses from taxable income and therefore pay less taxes? It would be a great way to pay less taxes for cronicaly losing players. You could even pay less taxes on your work related income while being a winning player, since you could easily disguise you winning if you play the cards right.