Yes, gambling income, which includes winnings from slots, table games, horse racing, sports betting, lottery games, jackpots, and the like, is considered taxable income. As such, you are required to report them on your tax return. The car, boat, or Harley Davidson and other noncash prizes also need to be reported. In McClanahan vs. The U.S., the IRS wouldn’t allow offsetting loses against $50,000 in blackjack winnings, even though unsubstantiated — and likely — gambling losses exceed that figure.

Blackjack Winning Hands

Blackjack Winning System

1. Welcome to the #1 Gambling Community with the best minds across the entire gambling spectrum. REGISTER NOW!
2. Join our $5,000 Cash Giveaway!
   Win Cash by Posting and Inviting New Members!
3. Have a gambling question?
   Post it here and our gambling experts will answer it!
   Dismiss Notice
4. Discussions in this section are assumed to be EV- as they are outside of the Advantage Play section. For EV+ discussions, please visit the Advantage Play sub-forum.
   Dismiss Notice

Blackjack Winning Strategy

An independent and uncensored Blackjack Forum community to discuss Card Counting techniques, Strategy, Tournaments, Advantage Play, and more. Short link: gamblingforums.com/blackjack

Probability Of Winning Blackjack

How To Play Winning Blackjack