Thanks, I understand I can then enter losses as an itemized deduction. I am still confused as to what winnings and losses are in the above example, though. For the above two (sample) bets, are the winnings to report as income $200 and the losses to report on itemized deductions $150, or something else? Also, how are "bonuses" from online sports betting companies treated? Are these winnings? (For example, give you $50 for signing up, or give you "risk free bets" where after the bet they give you a bonus of the amount of your wager. Are these winnings?)
