For keno winnings, the threshold is $1,500.

For bingo and slot machine winnings, the threshold is $1,200.Generally, you'll receive an IRS Form W-2G if your gambling winnings are at least $600 and the payout is at least 300 times the amount of your wager. Because a lot went into this with the Senate and in the House just to get it to the governor’s desk.Taxes on Gambling Winnings: You Might Get a Form W-2G And in this particular case, that was, I would say, the epitome of that phrase. He added, “There was a saying, and I’m paraphrasing, that you never want to see how a bill becomes law it’s like watching a sausage get made. And I think during those discussions and during those horse-trading, that the House gave up a lot of what it would have liked to have seen in the bill to get the bill to the governor’s desk,” Hill said. “There was a lot of horse-trading going on on that last day to get this bill to us, or to the governor’s desk. He said that the House included the language allowing promo play to be deducted because “we were convinced at that time that would help the businesses or the licensees that were coming before us.” But then he addressed the conference committee talks between the House and Senate that ultimately produced the state’s sports betting law. To get a first-hand perspective on the Legislature’s thinking, the commission turned to Commissioner Brad Hill, who served as assistant minority leader of the House when that branch passed its sports betting bill. “I feel as though our lawmakers’ intent is clear.” And ultimately the bill that was signed into law by the governor reflected the position that the Senate took,” Judd-Stein said.

“The House language was clear, promo play was to be deducted. Chairwoman Cathy Judd-Stein said she felt the same way as Povich and Lee. After an all-night session, a compromise bill came out of conference committee in the wee hours of August 1 and the House’s explicit language around deductions was not included in the version that the governor signed into law. The House’s betting bill explicitly allowed operators to deduct promo credits from their taxable revenue, but the Senate bill did not.

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