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Frequently Asked Questions Related to Gambling

Question: What happens to all the prize money when someone forgets to cash a winning ticket?

Answer: It is different in each state.

Question: Is it possible to buy in again into the same tournament if I lose?

Answer: This depends on the individual tournament. Some tournaments allow for buy-ins, while others do not.

Question: Can you write off non-winnings on your taxes?

Answer: Always check with your financial/tax advisor concerning your taxes.

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