Even tiny winnings from things like scratch cards need to be reported and taxed. Other forms of winnings that you’ll need to pay tax on include any winnings collected through successful sports betting, winning the lottery, or winning money on a game show. The IRS considers any money that you win while logged into an online casino or when playing in-person at a land-based gambling establishment or event as taxable income. So, are casino winnings taxable? The answer, in short, is yes. Unfortunately, though, the high that comes with a win can quickly turn into a downer if you don’t ensure that you’re on the right track regarding your taxes. Whether you’ve won a game of online poker, one of the many variety games at an online casino, or the jackpot you’ve been chasing on an online slot, it’s hard to beat the feeling of winning. It’s always extremely exciting when you rake in impressive winnings when playing your favorite online casino games or when out for the night at a land-based casino.

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