I've been meaning to talk to an accountant on this, cause some of it's confusing, because what if you bet a dime a game at the end of the year you're down 5k, but you did have one incredible day where you won 10k, how could it be right to pay 2700 in taxes when you're down 5k, which brings your losses to 7200. I actually asked one of the book makers at a legit Casino in Nevada and he told me they only get your social if you won 80 to one on a single bet in the sports book, other wise a lot of guys would be paying taxes once a week on dime plays even though they lost the other six days which would deter people not to gamble and harm state tax revenue. It is however your responsibility to claim your winning at the end of the year if you have any. I suggest you keep your own records of how much money won, and always hold on to losing tickets, just in case. Some casinos will have a win loss statement you can get at the end of the year. (The ones where players cards are used) The reason why the couple lost their case above is because it was over more than one year. You can't claim losses on last year on winnings this year. That's the one down fall. Where if it was a legitimate business you could claim losses in years passed on profits made now. Hopefully you never have a losing year, and if you do that's the risk you take, you'll never get to claim them against winning in future years
