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Old 03-03-2010, 12:49 PM
iamthewalrus(:3= iamthewalrus(:3= is offline
Join Date: Jul 2000
Location: Santa Barbara, CA
Posts: 10,823
Originally Posted by UncleFred View Post
On the other hand, I believe the finances work out that your prize is only 50%, maybe less, of what you spent buying tickets. That's assuming you don't have to share the prize. And further that's before they take out taxes (I doubt you can deduct the cost of the tickets)
Can't you? You can deduct gambling losses (against gambling wins), and lottery tickets that don't win sound like gambling losses to me.