(Special withholding rules apply for winnings from bingo, keno, slot machines and poker tournaments.) The amount withheld will be listed in Box 4 of the W-2G form you'll receive.

Generally, if you win more than $5,000 on a wager, and the payout is at least 300 times the amount of your bet, the IRS requires the payer to withhold 24% of your winnings for income taxes. Gambling Taxes: Withholding Might Be Required But if your bet was just a friendly wager with a friend or you won an office pool … well, don't count on it. In any event, if your bet was with a casino, we're fairly certain you'll get the W-2G. Otherwise, for 2022 winnings, the payer must send the form to you by January 31, 2023. In some cases, you'll get the W-2G on the spot.

If you don't have a SSN, then you'll need a taxpayer identification numbe (TIN).

You also need to provide your Social Security number.

If a W-2G is required, the payer (sports betting parlor, casino, racetrack, lottery, etc.) will need to see two forms of identification.

Your reportable winnings will be listed in Box 1 of the W-2G form. The payout doesn't have to be 300 times the wager for these types of winnings).

For poker tournament winnings, the threshold is $5,000.

For keno winnings, the threshold is $1,500.

For bingo and slot machine winnings, the threshold is $1,200.

Generally, you'll receive an IRS Form W-2G if your gambling winnings are at least $600 and the payout is at least 300 times the amount of your wager. Taxes on Gambling Winnings: You Might Get a Form W-2G

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