Maybe.

Most people just enter their W2-g as income. Then they enter their losses upto, but not exceeding the amount of W2g winnings.   But - and a big BUT - if your total itemized deductions are less than the standard deduction, then you do that instead and pay tax on the the W2G income... even if you put it all back and/or had a loss for the day.

It appears the IRS allows you to do session accounting. The Journal of Accountancy has an article about this.

The form 1040 calculates your Adjusted Gross Income before deductions are taken, so it includes all of your winnings, but none of your gambling losses, as deductions are on the following page.  For most people this is no big deal, as taxes are calculated on income after deductions.   

But if you're a senior on Medicare, your premium is based on your A.G.I., and  is subject to a High Income Premium Adjustment.   I was paying a couple thousand a year extra in premium adjustments until it occurred to me to file as a professions gambler.  Schedule C (business gains and losses) allows you to deduct your losses prior to the calculation of your A.G.I.  The IRS confirmed this was OK if gambling was my sole source of earned income and I played seriously and on a regular basis.  I amended as many returns as I could and received a check reimbursing me for over $7K in excess High Income adjustments.

Because you're a red blooded,  country loving, gambling loving, free American man.  But it costs you.. 

Do gambling winnings make my income go to another level so I'm paying more even when I have more in losses?

Possibly. 

Any amount won gambling is taxed. 

It is POSSIBLE to claim the gambling losses you had, but it isn't as easy as it sounds. 

Gambling winnings are reported as income.  DONE

Next, gambling losses can be entered into your TurboTax program and IF they make your Itemized Deductions higher than the Standard Deduction, the amount of losses with be included in your Itemized Deductions, along with other deductions, such as Medical Expenses and Home Interest paid. 

You are only allowed to claim losses up to the amount you won, not more. 

MOST people use the Standard Deduction. If you also end up taking the Standard Deduction, the gambling loss amount is, well, lost.