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How much is a casino jackpot

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Note that this does not mean you are exempt from paying taxes or reporting the winnings on your taxes. W2-G forms are not required for winnings from table games such as blackjack, craps, baccarat, and roulette, regardless of the amount. Not all gambling winnings in the amounts above are subject to IRS Form W2-G. In most cases, the casino will take 24 percent off your winnings for IRS gambling taxes before paying you. All of these require giving the payer your Social Security number, as well as filling out IRS Form W2-G to report the full amount won.

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