What Taxes Are Due on Gambling Winnings?
Gambling Winnings: Introduction Gambling winnings are fully taxable, so you won’t get to keep every penny even if you beat the odds and win big. The Internal Revenue Service (IRS) has ways of ensuring that it gets its share. Casino winnings and winnings from lotteries, horse races, off-track betting, sweepstakes, and game shows are all taxable.…

