Legal Disclaimer

BetBinder provides tools and reports only. It is not tax or legal advice.

Federal Tax Rules

All gambling winnings are taxable income on your federal return. You can deduct losses up to the amount of your winnings if you itemize deductions. Starting in 2026, the federal deduction is limited to 90% of winnings for most taxpayers.

Key Points

• All gambling winnings are taxable income.
• Losses can only offset winnings (not other income).
• Loss deductions require itemizing (Schedule A).
• For tax year 2026 and later, only 90% of losses are deductible and still capped by winnings.
• Keep your own records and supporting documents.

Accepted Supporting Documents

• Win/Loss statements and monthly statements (PDF)
• W-2G/1099 forms (PDF)
• Bet slip screenshots (JPG/PNG/WEBP)

HEIC images are not reliably supported in browsers. Convert to JPG/PNG first.

Consult a tax professional for advice specific to your situation.