Gambling income is considered “other income” on this form. Individual Income Tax Return: This is the form you or your tax preparer will be filling out come tax time to document your annual earnings. W-9, Request for Taxpayer Identification Number and Certification: Online casino operators may ask you to fill out a W-9 form for them online for ID verification purposes.October 24, 2021: BetRivers’ app is now up and running in Arizona. February 7, 2022: Arizona might add more tribal licenses, as SB 1674 could double the number of licenses in the state. 1099-K, Payment Card and Third-Party Network Transactions: This is the same as the 1099-MISC, but may be used if you withdraw your money through a third-party group, like PayPal. If you use online sportsbooks like DraftKings, PointsBet, and FanDuel, you might need to pay taxes. April 5, 2022: Arizona saw record highs in January betting, with a 563 million handle.There is a way to deduct those losses – we’ll get into that later. This is not a net amount – so it doesn’t factor in any bets you lost. 1099-MISC, Miscellaneous Income: The 1099-MISC form is sent to anybody who racks up at least $600 in winnings throughout the year from a single casino operator, not counting the wager amounts you won back.16, 2023 (GLOBE NEWSWIRE) - DraftKings Inc. W-2G, Certain Gambling Winnings: The W-2G form is sent to anybody who wins $600 or more in a single bet if the winnings are at least 300 times the wager. Expects to Exit Fiscal Year 2023 with More Than 700 Million in Cash and Generate Positive Adjusted EBITDA in Fiscal Year 2024BOSTON, Feb.
