When Do You Need To Start Paying Gambling Taxes In The US?
Jonathan August 25, 2023 22:31:24
When we hear about those lucky winners who manage to land eye-watering amounts of cash from the Powerball or a progressive jackpot at the US casino, we probably imagine they take the total amount home. But in reality, there are inescapable taxes to be paid. If you win in the casino, they hold back 25% of the payout for the tax man. However, in the UK, because gambling is seen as a pastime, most casino winnings are tax free.
