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Sports betting is now legal in New Jersey and Delaware. Here's what you need to know about placing a bet, and paying tax on winnings. By clicking "TRY IT", I agree to receive newsl...

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Form W-2G reports gambling earnings and tax withholdings. W-2Gs will be mailed out by January 31st and are usually delivered by the end of February. BetMGM must inform the IRS of these earnings. US citizens and permanent residents simply add W2Gs to their tax filings (only when there is tax withholding).

The beginning of online casinos was heralded in 1994, when the government of Antigua and Barbuda passed the Free Trade and Processing Act. This Act effectively allowed casinos to apply for licenses to open an online casino from outside of Antigua and Barbuda. The next step was to have the correct gambling software.

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