Congratulations on your win at MONOPOLY Casino—you earned it! Big wins can come with a few tax questions, so we've put together everything you need to know in one place. Below, we'll walk you through when winnings need to be reported to the IRS, how tax withholding works, and where to find your tax forms—so you can focus on enjoying your success.

Understanding Taxes on Gambling Winnings 

The IRS requires that gambling winnings over certain thresholds be reported through Form W-2G. This form reflects your reportable winnings and any tax withholdings and is typically available by January 31st for the prior year. At MONOPOLY Casino, W-2Gs are generated for individual winning events, not as an annual total. They’re grouped by game type (Casino or Poker) within a 24-hour period but are not consolidated across multiple days or the entire year. If you have multiple qualifying wins, you’ll receive a separate W-2G for each one.

W-2G Reportable Events

A W-2G will be issued for:

• $2,000 or more in winnings from slot machines.
• $2,000 or more in winnings (except bingo, slot machines, and poker tournaments) when the payout is at least 300 times the amount wagered.
• Any other gambling winnings subject to federal income tax withholding.

Casino Winnings 

• If you win $2,000 or more on any online slot game or site-wide jackpot, Bally Bet is required to report that win to the IRS.
• If your gross winnings from a casino wager are $2,000 or more and at least 300 times your wager, they must be reported to the IRS.
• For wins of $5,000 or more, federal and state taxes are withheld at a federal rate of 24% (state rates may vary).
• Eligible players can access W-2G forms directly under Wallet → W-2G when logged in.

Please note that MONOPOLY Casino does not typically withhold any portion of your casino winnings for tax purposes.

Tax Withholding Overview – Casino Table “Live or Non-Live” Games

(Roulette, Blackjack, and Baccarat – games that require skill) – winnings must meet a minimum threshold of $2,000 (minus the wager) AND be at least 300 times the bet.

• $2,000–$5,000: May be reportable, but no tax is automatically withheld 
• Bonus bets or bonuses are not deducted from reportable winnings 
• Acceptance of Bally Bet’s Terms and Conditions serves as electronic acknowledgment of your W-2G when applicable

You can find more details on gambling winnings and taxes by visiting the IRS website here.

If you’d like a breakdown of your play, our Support Team can provide a Win/Loss statement for any period you request. 

Need help? We’re available 24/7 and here to help!