Sports betting winnings tax calculator
Winnings are your payout minus your stake. A W-2G also needs the win to be at least 300 times the stake, which in practice means a long-odds parlay or futures bet.
Updated · 2026 tax rules · How we calculate
You keep
$7,910
Cash at payout
$6,510
Total tax
$2,090
Over-withheld
$1,400
- Form W-2G
- Yes
- Federal withholding at payout
- $2,400
- Federal tax on the winnings
- $1,550
- State tax
- $540
- New York withholding at payout
- $1,090
- Over-withheld
- $1,400
- You keep
- $7,910
$10,000 is at or above the $2,000 reporting threshold, so the payer files a W-2G with the IRS and gives you a copy.
The payer holds back 24% of winnings over $5,000 and sends it to the IRS. It's a prepayment, not the final tax.
Winnings are ordinary income stacked on your other $60,000. Your top dollar lands in the 22% bracket.
New York taxes gambling winnings as ordinary income.
New York requires the payer to hold back 10.9% for state tax.
More was withheld than these winnings add to your tax. The difference reduces what you owe on the rest of your return, or comes back as a refund.
$10,000 minus $2,090 in federal and state tax: an effective rate of 20.9%.
An estimate for 2026, not tax advice. It treats this win as your only gambling income for the year and leaves out local income taxes. Nothing you enter leaves your browser.
Federal rules for sports betting winnings
- Tax form
- Sports betting winnings are reported on a W-2G when they are $2,000 or more (after subtracting the wager) and at least 300 times the wager. The threshold was $600 before 2026.[1]
- Withholding
- 24% is withheld from sports betting winnings of more than $5,000, but only when the win is also at least 300 times the wager.[1]
- Losses
- For 2026 on, you can deduct 90% of gambling losses, and no more than your gambling winnings. Recreational gamblers only get the deduction by itemizing on Schedule A.[4]
A $10,000 sports betting win in every state
For a single filer with $60,000 of other income and no gambling losses, winning in their home state. Sorted by what you keep.
| State | Withheld | Federal tax | State tax | You keep |
|---|---|---|---|---|
| Alaska | $2,400 | $1,550 | $0 | $8,450 |
| Florida | $2,400 | $1,550 | $0 | $8,450 |
| Nevada | $2,400 | $1,550 | $0 | $8,450 |
| New Hampshire | $2,400 | $1,550 | $0 | $8,450 |
| South Dakota | $2,400 | $1,550 | $0 | $8,450 |
| Tennessee | $2,400 | $1,550 | $0 | $8,450 |
| Texas | $2,400 | $1,550 | $0 | $8,450 |
| Washington | $2,400 | $1,550 | $0 | $8,450 |
| Wyoming | $2,400 | $1,550 | $0 | $8,450 |
| North Dakota | $2,400 | $1,550 | $106 | $8,344 |
| Arizona | $2,650 | $1,550 | $250 | $8,200 |
| Ohio | $2,675 | $1,550 | $275 | $8,175 |
| Indiana | $2,695 | $1,550 | $295 | $8,155 |
| Louisiana | $2,700 | $1,550 | $300 | $8,150 |
| Mississippi | $2,700 | $1,550 | $300 | $8,150 |
| Pennsylvania | $2,400 | $1,550 | $307 | $8,143 |
| Kentucky | $2,400 | $1,550 | $350 | $8,100 |
| Arkansas | $2,400 | $1,550 | $370 | $8,080 |
| Rhode Island | $2,400 | $1,550 | $375 | $8,075 |
| Iowa | $2,780 | $1,550 | $380 | $8,070 |
| North Carolina | $2,400 | $1,550 | $399 | $8,051 |
| Michigan | $2,400 | $1,550 | $425 | $8,025 |
| Colorado | $2,800 | $1,550 | $440 | $8,010 |
| Utah | $2,400 | $1,550 | $445 | $8,005 |
| Oklahoma | $2,400 | $1,550 | $450 | $8,000 |
| West Virginia | $2,858 | $1,550 | $451 | $7,999 |
| Nebraska | $2,750 | $1,550 | $455 | $7,995 |
| Missouri | $2,400 | $1,550 | $470 | $7,980 |
| New Mexico | $3,000 | $1,550 | $470 | $7,980 |
| Wisconsin | $2,400 | $1,550 | $471 | $7,979 |
| Maryland | $3,350 | $1,550 | $475 | $7,975 |
| Illinois | $2,895 | $1,550 | $495 | $7,955 |
| Georgia | $2,400 | $1,550 | $499 | $7,951 |
| Alabama | $2,400 | $1,550 | $500 | $7,950 |
| Connecticut | $2,400 | $1,550 | $500 | $7,950 |
| Massachusetts | $2,900 | $1,550 | $500 | $7,950 |
| South Carolina | $2,921 | $1,550 | $521 | $7,929 |
| Idaho | $2,400 | $1,550 | $530 | $7,920 |
| Montana | $2,400 | $1,550 | $531 | $7,919 |
| New York | $3,490 | $1,550 | $540 | $7,910 |
| New Jersey | $2,700 | $1,550 | $553 | $7,898 |
| Kansas | $2,900 | $1,550 | $558 | $7,892 |
| Virginia | $2,400 | $1,550 | $575 | $7,875 |
| Vermont | $2,400 | $1,550 | $584 | $7,866 |
| Delaware | $2,400 | $1,550 | $626 | $7,824 |
| District of Columbia | $2,400 | $1,550 | $650 | $7,800 |
| Maine | $3,115 | $1,550 | $675 | $7,775 |
| Minnesota | $2,400 | $1,550 | $680 | $7,770 |
| California | $2,400 | $1,550 | $735 | $7,715 |
| Hawaii | $2,400 | $1,550 | $760 | $7,690 |
| Oregon | $2,400 | $1,550 | $875 | $7,575 |
Questions
- Do you get a tax form for sports betting winnings?
- Sports betting winnings are reported on a W-2G when they are $2,000 or more (after subtracting the wager) and at least 300 times the wager. The threshold was $600 before 2026.[1]
- Is tax withheld from sports betting winnings?
- 24% is withheld from sports betting winnings of more than $5,000, but only when the win is also at least 300 times the wager.[1]
- Are sports betting winnings taxable if there's no form?
- Yes. All gambling winnings are taxable income. The form only decides whether the payer tells the IRS; you report the winnings either way.[7]
Other games
Sources
- [1] IRS, Instructions for Forms W-2G and 5754 (01/2026) · checked September 22, 2026
- [2] Federal Register, REG-113229-25 proposed rule (Apr. 17, 2026) · checked September 22, 2026
- [3] 26 U.S. Code § 3402 (withholding) · checked September 22, 2026
- [4] 26 U.S. Code § 165(d) (wagering losses) · checked September 22, 2026
- [5] IRS, Publication 505 (2026), Tax Withholding and Estimated Tax · checked September 22, 2026
- [6] IRS, Topic 419, Gambling income and losses · checked September 22, 2026
- [7] IRS, Publication 525, Taxable and Nontaxable Income · checked September 22, 2026
- [8] IRS Chief Counsel Advice 202042015 (fantasy sports) · checked September 22, 2026