For the record, gambling has a $3000 limit before they tax you right there at the table/machine. Been there, done that. For the record, gambling losses are tax deductable, up to the value of your winnings. In other words, if you win 10k, and lose 5k, you can claim the 5k n losses and only be taxed on 5k at the end of the year. This is one of the reasons casino's give you incentives to sighn up for their players club cards. They get your SSN.