This article is general information, not tax advice. Nothing here is a substitute for a professional who knows your return, your state, and your numbers. Tax law changed meaningfully for 2026, the change is unfavorable to bettors, and the details are the sort that cost real money when guessed at. If you had a winning year, the single most valuable thing in this lesson is the instruction to talk to a CPA who has handled betting income before.
With that said, here is the shape of the thing, so you know what to bring to that conversation.
