United States

Mr. Mister asked:


I am curious about a scenario where a person wins, say, $250,000 at a site like Full Tilt Poker. First off, can they just transfer the money into their bank account without any problems? After that, what kind of taxes will they have to pay? Are the any (legal) options that would reduce the total tax amount?

Free Roulette

Rickls asked:


I just lost a hundred bucks at online poker, can I write that off on my taxes??? Or any other gambling expense??

Fruit Machine Games

Joe Bonarman asked:


I recently won $3000 on a poker site, not based in the United States. Will I need to claim this on my taxes at the end of the year?

Slot Machines

DBADiver asked:


If I were to win say, $100,000 playing online poker, I know the government wants to tax me on that. What happens if I don’t withdraw the money from my account? Do I pay taxes on it? What if I withraw just a little bit at a time over several years, do I have to report it?
I am in the U.S (Virginia), by the way.

Fruit Machine Guide

beatzscientifik asked:


If you win $50,000+ from an online poker/gambling site based outside the US, is there any way to cash out the money without having to pay taxes? If not, can someone explain how taxes would work?

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