"In the end, we get it all"
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That average American lost $500 gambling, for a total of 119 BILLION DOLLARS.  That's BILLION. With a B!  To put that in perspective, that's almost the net worth of Bill gates and Waaren Buffet COMBINED.

All together, 80% of all Americans gambled in some fasion.  About $300 of that was lost in casinos, and another $100 playing the lottery.  The other $100 was lost to "other," like fantasy football, poker with friends and the random "Lindsay Lohan Death" pool(all of which I lost money)...

That's all pretty impressive considering online gambling is still illegal and difficult to do in the United States. 

I think the reason people lost so much money was they forgot the advice of Wesley Snipes:

 http://www.youtube.com/watch?v=Cn8FPOt2uZM

Then again, he's not a fan of paying taxes, so maybe that's a bad example...