Osaka man wipes away millions in owed taxes by deducting losing horse race tickets

It’s often said that nothing in life is certain except for death and taxes, but for one Osaka resident, that maxim was little more than an old wives’ tale.

One day, the taxman came calling to the tune of 816 million yen (US$7.7M) over years of unreported winning horse race bets. However, in a game where the house always wins, this guy managed to flip the script and knock down the money owed to a relatively modest 67 million yen ($635,000).

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