Can I deduct money spent on lottery tickets as a gambling loss?

[Fern]

Yes but only to the extent of your gambling winnings for the year that are included in your tax return and only if you itemize your deductions.

According to the IRS:
• Gambling winnings are fully taxable and you must report them on your tax return.
• You may deduct gambling losses only if you itemize deductions. However, the amount of losses you deduct may not be more than the amount of gambling income reported on your return