The more you know, the better equipped you are to make healthy decisions about gambling.western inn and village casino RIVIERA RESORT CASINO Taxes on Gambling Winnings and Deducting Gambling Losses. In gambling, there are winners and losers But even the winners can be losers if they don't pay their taxes! Any money you win gambling or wagering is considered taxable income by the IRS. We have found if asked, most online pokie players have little to no clue if they are required to pay taxes on their winnings here in Australia. Gambling sees more money leave gamblers pockets on average than enter it. Also, when people do win, they usually don’t win large amounts. Some levy no gambling taxes at all. Others charge a flat percentage, while still others ramp up the percentage owed depending on how much you won. When in doubt, refer to your own state’s policies before gambling.
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