Question for Vegas Bettors

Question

I was going to be visiting Vegas this week and wanted to find out if anyone knew at what amount do they make you fill out a tax form for winnings? I was looking at doing a 10k bet and a couple 2k parlays and didn&#x27;t know if I needed to break them up into smaller tickets. I&#x27;m figured someone on here I&#x27;m sure would know. TIA

JohnHibbs · Answer

I was going to be visiting Vegas this week and wanted to find out if anyone knew at what amount do they make you fill out a tax form for winnings? I was looking at doing a 10k bet and a couple 2k parlays and didn&#x27;t know if I needed to break them up into smaller tickets. I&#x27;m figured someone on here I&#x27;m sure would know. TIA

thing · Answer

the onlytime they will ask for your ID is if your cash in or out exceeds 10k in their 24 hour reporting period.  Keep in mind that this includes multiple transactions over 24hrs.  Just ask for chips and cash them out over a couple of days if possible

Bart_ · Answer

Be careful, any win over 10000 will draw attention from the taxman.

nc1capper · Answer

jus win baby,,worry about IRS after the fact--get the paper FIRST

Imprezive97 · Answer

Instead of placing a big bet at one sports book places many smaller bets on the same game at various sports books and you&#x27;ll be alright.

cyalx · Answer

just win and then worry  bout it

Question for Vegas Bettors

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