The Shamus,

To better understand the US system, just keep in my that we get TAXED on everything! hehe...Regarding gambling winnings, you are issued a W-2G form for "certain gambling winnings" $1200 or more on slots. That means everytime you hit something $1200 or more, a hand-pay is required and you have to sign the form and it is reported to the IRS by the casino. At the end of the year I am required to report those winnings as income. Luckily, I am able to offset those winnings with losses as an itemized deduction on my tax forms. Yes, using a player's card does help but it is not an accepted form of proof for the IRS if you get audited. In order to claim the loss, I have to keep a very detailed log of every gaming trip and I must note the name of the casino, time, date, machine number, and amount loss for EVERY machine I play. Other supplemental evidence is helpful like cashed checks, atm withdrawal slips, markers, etc...Also, I am only able to claim a loss up the amount I have won. Last year, my total gaming wins totalled $189,000, and I claimed a loss of $189,000, although I lost way more than that! Therefore I did not have to pay any taxes on winnings. It's a lengthy process, but I guess I rather have hit the jackpots and complete these forms then not right?

I have some questions for you Shamus, I was told that no matter where I gamble I must report winnings to the IRS even if it is out of the country. I am planning a trip to Casino Windsor next year and I am planning on hitting a lot of jackpots (confidence is the name of the game!), how would the process work since you are not required to pay taxes. Am I issued any forms for jackpots, what about crossing the US border? There is a $10K restriction right?