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Frequently Asked Questions Related to Gambling

Question: Why do celebrities gamble for large amounts of money when they are already rich?

Answer: Rich people enjoy gambling, too. Also, a lot of the time, celebrities use their winnings for charity.

Question: Why do celebrities play poker?

Answer: Because they are normal people and it is something they enjoy, just like anybody else.

Question: How long does an organization need to retain game pieces and records?

Answer: Redeemed and unsold pull tabs for a game must be retained for one year from the end of the quarter in which the activity was reported on a tax return. All other documents, including the deal's game information sheet and flare, purchase invoices or receipts documenting the cost of prizes, accounting and bank records, and receipts documenting eligible uses, must be retained for three years from the end of the quarter in which the activity was reported.

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