NHL Betting Taxes — What You Owe the IRS on Hockey Winnings
Every dollar you win betting on NHL games is ordinary income. The IRS treats it the same as wages — period. Here's what that means in practice.
Where Do I Report NHL Betting Winnings?
Report all winnings on Form 1040, Schedule 1, Line 8 ("Other Income"). This applies even if you never receive a W-2G from the sportsbook. You still owe tax on every winning bet.
When Does the Sportsbook Send Me a W-2G?
A W-2G is issued when winnings hit $600 or more — that's the H&R Block standard. Under a 2026 rule update, federal reporting is also triggered when winnings are at least $2,000 and at least 300x the wager. Federal withholding at 24% kicks in on winnings of $5,000 or more.
State thresholds vary. Connecticut, Massachusetts, and Ohio withhold at $600 or more.
Can I Deduct Losing Bets?
Yes — but only if you itemize on Schedule A. Losses are deductible up to the amount of your winnings. You cannot net losses against winnings or deduct them from other income. Each wagering transaction must be reported separately; netting all your bets into one number is not permitted by the IRS.
What Records Should I Keep?
The IRS recommends a diary of every wager: date, amount, odds, result, and the sportsbook name. Download your sportsbook's transaction history regularly — it's your best documentation. The IRS may already have W-2G data from your operator; underreporting carries penalties.
Before any of this applies, you need to be betting legally. Confirm your state's status on our NHL betting legality by state guide. And if you're moving money in and out of sportsbook accounts, see NHL betting banking — fastest deposits and withdrawals explained for timing details that affect when taxable events land in a given tax year.
Quick Tax Reference for NHL Bettors
| Situation | Tax Rule |
|---|---|
| All NHL betting winnings | Ordinary income; report on Form 1040, Schedule 1, Line 8 |
| W-2G threshold (standard) | $600+ winnings |
| W-2G threshold (2026 rule) | $2,000+ AND 300x the wager |
| Federal withholding | 24% on winnings of $5,000+ |
| Deducting losses | Schedule A (itemized), up to winnings only |
| State withholding at $600+ | Connecticut, Massachusetts, Ohio |
Any Other Tax Traps I Should Know?
Futures bets are a timing issue. If you place a Stanley Cup futures bet late in one tax year and it settles in the next, the winnings land in the year of settlement — not the year you placed the bet. Plan accordingly. For more on futures wagering, see our NHL futures betting guide.
Bonus bets are another area I see bettors get wrong. Bonus bet stakes are excluded from payouts — so if a $50 bonus bet wins $80, you report only the $30 in winnings, not $80. Details on how bonus bets actually pay out are in our NHL bonus bet terms guide.
Have more questions on NHL betting taxes or other hockey wagering topics? The NHL betting FAQ covers the most common ones in plain language. Must be 21+ (18+ in DC, KY, NH, and WY). Gambling problem? Call 1-800-GAMBLER.
See also: NHL Betting Tax Recordkeeping: Diaries, Statements, and Deductions.