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Yes, it is possible to win real money with online casinos and sports betting. However, it is important to remember that gambling is a form of entertainment and should not be considered a way to make money. The odds are always in favor of the house, so it is important to set a budget and stick to it.
Unless you are a professional gambler, gambling income is included as income on your taxes and it's taxed at a rate of 24%. Casinos should withhold this portion of your winnings and report them to the IRS after you win a certain amount, depending on the game and how much you wagered.
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