Tax guide

Which states have legalized betting on sports?

States that wish to can legalize sports gambling, but only Nevada, Mississippi, West Virginia, New Jersey, and Delaware have full-scale, legal sports betting.

Until recently, single-game wagers were only legal in the state of Nevada. On May 14, 2018, the Supreme Court overturned a 1992 federal law which banned most states from authorizing sports betting. This recent lawsuit was brought by the state of New Jersey in an effort to legalize sports betting in the state.

Since gambling income is still income, you are required to report your gambling earnings using the “Other Income” field when you file your taxes. Gambling losses may qualify as an itemized deduction, which you’ll report separately on a Schedule A—don’t report your winnings and losses on the same form.

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