Does the IRS Make a Distinction between Slots and Video Poker?

Does the IRS make a distinction between “slots” and “video poker”?

No. In fact, the IRS doesn't distinguish between slots, video poker, video keno, and bingo.

For all jackpots of $1,200 or more in winnings from gambling devices and bingo, the winner receives a W-2G. It doesn't matter what kind of machine you hit the jackpot on (or won at bingo), it's all the same to the IRS.

Does the IRS make a distinction between slots and video poker?

No part of this answer may be reproduced or utilized in any form or by any means, electronic or mechanical, without the written permission of the publisher.

Have a question that hasn't been answered? Email us with your suggestion.

Missed a Question of the Day?

Have a Question?

Tomorrow's Question

Has Clark County ever considered legalizing prostitution?

Comments

David Liming Nov-26-2019

Machines vs. Tables do though

But they do distinguish between slot machines and table games, table games they to do not require W2G's for wins of $1,200 or more.

David Nov-26-2019

Shouldn't have to pay taxes on winnings

No taxes on winnings of any kind ... lottery, slots, etc.

IdahoPat Nov-26-2019

Table games W2-Gs ...

... are in place for certain wins, almost always on bets where the payoff is at 300-1 or greater odds. To flatly say table games do not require W2-Gs is not true.

Reno Faoro Nov-26-2019

irs

hopeful question --when slots are involved , the IRS wants part of your winnings --they do NOT discriminate -- JUST PAY and be thankful that you hit .

michael Nov-26-2019

W2G table games

IdahoPat is correct. Received a w2g on 3-card poker. Only bet a $1 on bonus and got a royal flush for an extra $1000. 
Some people in the pit didn't know this...

O2bnVegas Nov-26-2019

table progressives taxed

I believe some table side bet progressive wins are taxed, depending on the amount.

hawks242424 Nov-26-2019

Table game machines

Video BJ and the rapid roulette and bubble craps are considered slots and get a W2G for every "win" over 1200. EG a $600 bet on BJ would get a W2G on every hand.

The only exception to this is the stadium games.  When a live dealer is dealing, it works like a live game.  When you place the video version it works like a slot machine...

Kevin Lewis Nov-26-2019

That's not the point

Whether or not you get a W2-G is irrelevant. You win, the IRS wants a piece. What does matter is that when you win $2,000, then you lose $2,000, your tax liability is on that first $2000 of "income"--even though you actually won nothing. Gambling losses are no longer deductible from gambling winnings.

We know who to thank for that.

Larry Stone Nov-26-2019

itemized deductions

gambling losses ARE DEDUCTIBLE from winnings only if you itemize deductions.  If you take the standard deduction, your luck ran out.  My luck is so bad I won a raffle--my prize was two tickets to Hong Kong on a Boeing 737 max!

Daniel Nov-26-2019

DanMin

Every gambler should read IRS Revenue Procedure 77-29 for info on the "Session" reporting option rather than your W-2G win totals.

Question of the Day - 26 November 2019

Comments