IRS Changes How Gambling Winnings are Taxed

September 27, 2017

I didn’t think we’d ever see it.

The long overdue IRS revision of the way gambling winnings are taxed has finally been changed. Bettors will no longer be taxed on losing bets the way they were under the old rules and now the entire cost of the wager will be factored into the tax calculation.

This is only fair and should have been done long ago but better late than never. Now if you bet $2000 on a pick 6 that pays $1500 you won’t be taxed on your gambling winnings. Under the old system you would have.

This is “All Good” for the game. It keeps more money in the pools and players hands. The NTRA deserves credit for not giving up and so does HANA. Twin Spires and AmWager get props as well for being the first ADW’s to implement the new code.

Read more about the new IRS rules

@Tracking_Trips I'm quite content with the 1/10 ex $(109) multiple times. Better if he won...ya...but im not get too greedy. Great pick 💰💰💰

Kevin West @KFWest003 View testimonials