Since Arkansas does not include gambling winnings as part of an individual’s income, the state imposes a 3.5% tax on gambling earnings over $1,200. So, if you were to win $250,000 at the casino in one visit, you would pay $8,750 in state taxes. But, you would also pay federal gambling taxes of 24% over and above the state tax, which amounts to $60,000. As a result, you would pay $68,750 tax in total.