Gambling p. pr. & vb. n. : of Gamble

Example:
How do I deduct Gambling losses on my tax return?

Taxonomy
bet, outcome, games, lay bet, bookmakers, wager, casino, the odds, Arbitrage betting, odds, free encyclopedia, investments, casino gambling games, regulation, states, losses, stakes, insurers.

Defination from the web:
Gambling is the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning ... In other terms gambling can be performed through materials which are given a value but isn't real money. ...