Keno: $1,500 or more after subtracting your wager.Slot machines: $1,200 or more not reduced by your wager.Bingo: $1,200 or more not reduced by your wager.The minimum amount to receive a W2-G depends on the game. What amount do you need to win to receive a W2-G? You will receive a Form W-2G if you receive gambling winnings over a certain amount or if you have income taxes withheld on your gambling income. What tax form do you get for gambling income? For example, if you win a car, you’ll owe taxes on the car’s fair market value. Gambling income is what you win from lotteries, raffles, horse races, casinos, and other types of gambling. Here’s what you’ll owe and what you can do to reduce your tax bill. If you won money at a casino, horse race, raffle drawing, or lottery, you need to pay taxes on that income.
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