Cable, as I understand it you have already paid your tax from the pool. "Unless" you set up a business, i.e. If you claim expenses e.g. publications, Course enrty costs, Travelling expenses, depreciation etc. not sure though how you would go about claiming LOSSES (betting) especially carrying them forward from year to year (if you hit a bad patch I mean). Interesting though if anyone here has actually tried it with the IRS???