Depending on the amount you have won, you may receive a W-2G form from the betting site, casino, or sportsbook to send along to the IRS at the end of the financial year. While the majority of betting platforms will offer this, it is not legally mandated and according to the laws set in New Jersey, you are responsible for declaring your winnings to the IRS.  You will receive this if you have won more than $1,200 on slot machines or bingo, $1,500 or more on a keno game, more than $5,000 from poker tournaments, and $600 or more from New Jersey sports betting. Should your winnings from any betting or casino be a non-cash prize, such as a holiday, car, or voucher, the IRS expects you to report the fair market value price for each prize you won.