W-2G Forms › Form W-2G Reporting Thresholds by Gambling Type for 2026
At a Glance
Form W-2G Reporting Thresholds
Form W-2G reporting thresholds determine when gambling establishments must file this form to report winnings to the IRS. Different types of gambling have different threshold amounts.
Threshold by Type of Gambling
| Type of Gambling | Threshold | Notes |
|---|---|---|
| Bingo | $1,200 or more | Not reduced by wager |
| Slot machines | $1,200 or more | Not reduced by wager |
| Keno | $1,500 or more | Reduced by the wager |
| Poker tournaments | $5,000 or more | Reduced by buy-in and entry fee |
| Lotteries and sweepstakes | $600 or more | If at least 300x the wager |
| Horse and dog racing | $600 or more | If at least 300x the wager |
| Jai alai | $600 or more | If at least 300x the wager |
| Other wagering | $600 or more | If at least 300x the wager |
When is Withholding Required?
Federal income tax withholding at 24% is required when:
- Winnings exceed $5,000 from sweepstakes, wagering pools, lotteries, or similar transactions (if the payout is at least 300 times the wager)
- The winner fails to provide a valid taxpayer identification number (backup withholding)
Note that no withholding is required for winnings from bingo, keno, or slot machines, regardless of amount, unless backup withholding applies.
Winner Responsibilities
All gambling winnings are taxable income, even if below the W-2G reporting threshold. Winners must report all gambling income on their tax return, regardless of whether they received a Form W-2G.
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External Resources
Frequently Asked Questions About W-2G Thresholds
For some gambling types, a W-2G is only required if the winnings are at least 300 times the amount wagered. For example, if you bet $2 on a horse race and win $600, that is exactly 300x the wager, triggering a W-2G. But if you bet $5 and win $600, that is only 120x the wager, and no W-2G is required (though the income is still taxable).
Slot machines and bingo have a flat $1,200 threshold because the IRS considers these games to have clearly defined winning events that are easy to track. Table games like blackjack and craps involve continuous wagering, making it impractical to report individual wins. The casino cannot easily determine net winnings per session.
Sports betting falls under the "other wagering" category with a threshold of $600 or more and the payout must be at least 300 times the wager. Most sports bets do not hit the 300x requirement. However, parlay bets or futures with long odds may trigger W-2G reporting if both conditions are met.
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BoomTax and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors prior to engaging in any transaction.