Why Is There Tax Paper Work on Slots, but None for table wins?

On the slots on a hand pay out, you have to sign a form for the IRS. However, no such paper work is asked for if you win at the tables and cash out at the cage. So why is there tax paper work on slots, but no record for table wins?

The IRS requires the casinos to report wins of $1,200 or more on slot and video poker machines. For horse and dog racing, jai alai, state lotteries, and some other kinds of wagering, the W-2G form must be given for any winnings that are at least 300 times the amount of the bet.

That's the tax law.

Now, if you're playing blackjack, craps, roulette, pai gow poker, or any other table game, including baccarat where whales can win $1 million or more on a good weekend, you'll never be issued a W-2G for any size of a win. You simply can't win 300 times your wager at any table game, besides those with a big side bet or progressive jackpot.

As to why there's a tax threshold for gaming devices and not table games, we can't say for sure. We've never seen an explanation. But it's probably because the tax reporting thresholds reflect the ease of tracking and the frequency of gaming events that are more standardized and automated in gaming devices, whereas table games have a more variable nature that complicates a one-size-fits-all approach to reporting.

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Michael Myers Jan-29-2025

Crap Table

Well there is one instance where a table bet was issued a W2G - the crap table.
I collected on a fire bet.  $10K.  3 or 4 of us were winners.  It took about 15 mins to layout. My W2G indicated $9,990.

Llew Jan-29-2025

Poker again

Playing a no limit poker tournament a few years ago at Santa Fe Station. It was a busy Friday night, even busier than usual because the bad beat jackpot was high. 
Well, our table hit the jackpot: quad deuces over Aces full.  Great!  The two players involved had their share and we all took a table share. 
Ah, but not so fast. At that time, SF Station also gave a share to *everyone* playing in the room at that time. With over 100 players, it took several *hours* to get all of the paperwork done, let alone the time to distribute the payouts! 
Finally, management told everyone that they could come back the next day if they wished to collect their money. Just had to be sure to have their receipts with them.  What a mess!

Timothy Grant Jan-30-2025

Pia Gow

I saw a 5 aces progressive hit at a Harrah's Pia Gow table.  The winning player received his IRS paperwork, and they took out a deduction for taxes.

Question of the Day - 29 January 2025

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