It seems reasonable to me that in person sports bets are treated differently than online sports bets. In person each wager is an individual transaction, like a keno slip or lottery ticket - both of which you’d tally individual wins and losses. Online operates with a revolving account where sportsbook and casino wins and losses are all intermingled for a net profit (or loss), like fantasy sports. I’m trying to get further confirmation, preferably from a tax professional familiar with the latest online gambling regulations. Like I said, the casino already confirmed it is net profits that get reported for tax purposes, not the sum of every individual wager ever. I would like to take that as fact, but I understand they are not the IRS. I would just hope that if they are confirming tax information that it most certainly better be accurate.
