08/22/2026
Taxpayers, let me go ahead and warn you now.
The IRS is paying attention to gambling winnings.
So if you are winning money from casinos, sports betting, online gambling apps, lottery, raffles, or any other type of wagering, please understand that those winnings may be taxable.
And no, losing the money back does not automatically mean you do not have to report the winnings.
Gambling winnings are reported as income, and gambling losses have their own rules. You generally have to itemize to claim gambling losses, and you need records to support them.
So before you act surprised when the IRS sends a notice, get your paperwork together.
Keep your win/loss statements.
Keep your W-2Gs.
Keep your gambling records.
Keep your receipts and proof.
Because the IRS is not playing about unreported income.