topic Online Sports betting. What counts as a win? in Get your taxes done using TurboTax

Online Sports betting. What counts as a win?

ezdaz — Tue, 24 Feb 2026 06:38:55 GMT

Hello

What does the IRS define as a WIN?

If I bet on a sports bet that is -110 I would have to put up $110 to "win" $100, but I get back a total of $210. Does the IRS count the $210 as income/win or does it just count the $100 profit from the bet?

What does the IRS define as a WIN or income?

Thank You for your time.

Re: Online Sports betting. What counts as a win?

Critter-3 — Fri, 30 Jun 2023 20:43:44 GMT

You placed a bet for $100 and the payoff was $210 (your $100 + the winnings of $110) so the taxable portion is only the amount you won of $110 not the amount of the original bet you placed.

Re: Online Sports betting. What counts as a win?

NCperson — Fri, 30 Jun 2023 21:00:08 GMT

@ezdaz - HOWEVER, let's say you placed a 2nd bet for $120 and LOST!

then this $120 loss can be deducted on Schedule A as an itemized deduction. It can NOT be netted against the $110 win in the first bet! But the losses can't exceed the gains!

You would have two bets - winnings of $110 and losses of $110. $110 is reported as income and $110 is reported as an itemized deduction on schedule A.