Gambling News by House of Odds

Though Representative Barney Frank has gotten most of his attention due to his role in handling the economic crisis, the chairman of the House Financial Services Committee is also known for his nearly lone opposition to the Unlawful Internet Gambling Enforcement Act, almost unanimously passed in late 2006. Frank is holding steady on that opposition and, according to Reuters , will introduce .

Gambling winnings are fully taxable and must be reported on your tax return. Gambling income includes, but is not limited to, winnings from lotteries, raffles, horse and dog races and casinos, as well as the fair market value of prizes such as cars, houses, trips or other noncash prizes.