Law and Taxes

According to the law, in the vast majority of states and countries, gambling winnings are fully taxable. They vary based on the amount won, and the type of game played.

There are two types of winnings- cash and non-cash. Cash winnings refer to the money scored while playing casino games, bingo, raffles, sweepstakes, poker, and so on, while non-cash winnings encompass stuff like car and voyage. So whenever you win, you need to report those winnings to the local tax collection agency, or else you risk dealing with not-so-pleasant consequences.

To make things work and to avoid any unpleasant situations, each gambler needs to be acquainted with the local rules and laws. Regulations vary from one country to another, and they are often updated.

This corner is full of handy bits of advice on what to do when you win, where to report taxes, how to properly fill in the tax forms if a professional gambler, and so on. It also features some excellent tips on how to fly safely with money, what to do in case police pulls you over on your way to or from Las Vegas (or any other place), and so on.

Discreet travel with cash by varlayview

Discreet travel with cash

December 5, 2018 4:20 am

Here’s a general, hypothetical question: Suppose a low-stakes player was to bring only about $3000 on a trip, planning to...

A legal opinion on preferential shuffling

A legal opinion on preferential shuffling

November 24, 2018 4:31 am
Bob Nersesian, Esq.

Preferential shuffling is not illegal per se and cannot be made illegal per se. It is, however, likely that it is illegal in...

Filing taxes in the usa as a professional gambler

Filing taxes in the USA as a professional gambler: Discussion

November 12, 2018 4:22 am

McBain: If you have for example $50k in investment income, and $30k in declared gambling income, and no other income, can you...

Defensive driving for advantage players

Defensive Driving for Advantage Players

September 15, 2018 6:39 am
Harold Harvey

Question: If pulled over by police while carrying my traveling bankroll (“BR”) and asked, “Do you have a large...

How to avoid cash seizures by bluesman

How to avoid cash seizures

October 10, 2017 3:38 am

As the saying goes, 'cash is king'; in general, it's better to hold cash than to hold notes from debtors, property deeds, or...

Cruise ship procedure leaving from the united states

Cruise ship procedure: Leaving from the United States

September 1, 2017 3:49 am
Harold Harvey

Those traveling and gambling on cruise ships leaving from the United States with itineraries that allow disembarkation in foreign...

Louisiana casinos special considerations

Louisiana casinos -- Special considerations

April 21, 2017 5:16 am
Dallas Barrister

Casinos in Louisiana frequently hire uniformed off-duty local police officers to provide security, especially for special events...

Professional gambling tax status

Professional gambling tax status?

April 17, 2017 4:13 am
Colin M. Cody, CPA

When you tally up your gambling winnings tax forms W-2G each year - do you see that the IRS is taking away too much from your...


Nevada Gaming Commission and Gaming Control Board -- Over a decade later, nothing has changed.

March 10, 2017 4:18 am
LV Bear

Over a decade ago, I wrote: 'The Nevada Gaming Control Board  (and Nevada Gaming Commission) is little more than a...


Las Vegas Casinos Must Protect Patrons from Attacks in Restrooms

February 22, 2017 8:22 pm
Ladah Law Firm

Las Vegas Casinos Must Protect Patrons from Attacks in Restrooms   Las Vegas is one of the most frequently visited cities...

If cornered by the enemy

If Cornered by the Enemy

December 19, 2016 5:18 am

If you can make it to the door, then do so. Get out of there as quickly as possible, without running. Urgent flight may be...

Bankroll ccounting  amp tax liability

Bankroll Accounting & Tax Liability

December 19, 2016 3:58 am

My own policy has been to pay in enough money to the Internal Revenue Service during the year to avoid any tax penalties, and...

Campione atlantic city case

Campione Atlantic City Case

December 19, 2016 3:57 am

SYLLABUS (This syllabus is not part of the opinion of the Court. It has been prepared by the Office of the Clerk for the...

Cashback is taxable income

Cashback is Taxable Income

December 19, 2016 3:56 am
Uncle Sugar

Here is the appropriate text from Section 61 of the Internal Revenue Code: ”… gross income means all income...

False arrest

False Arrest

December 19, 2016 3:55 am

Recently, a question arose as to what crime, if any, is being committed by a casino employee when they unlawfully detain an...

Flying safely with your bankroll

Flying Safely With Your Bankroll

December 19, 2016 3:54 am
Harold Harvey

Here is a question and answer from TSA's website: Q. Will I be delayed during screening if I am carrying large amounts of...

Privacy issues

Privacy Issues

December 19, 2016 3:52 am

Are Casinos, Griffin Investigations, SIN, Biometrica Violating the Law? After many months researching the provisions of the...