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No, not particularly.

Strictly speaking, a gigolo is a man who is paid by a woman - or a number of women - to be an escort or lover as his profession. The specific term refers to a male-female arrangement and as such one would assume the male to be heterosexual. Payment is not always a cash exchange but can be free housing, clothing, expensive gifts and so on. A gigolo is usually expected to be well refined in behaviour and manners and be able to fit in well at high-end gatherings as the women who engage them are typically well off and hover in the upper social brackets.

That said, since the relationship does not always involve sexual liaisons - the relationship could truly be just one of companionship - it is "possible" for a gigolo to be gay. But the relationship is stll between the man and his female benefactor.

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