IRS Year Total Taxes Collected from Sports Betting 2018 $116 million 2019 $123 million 2020 $162 million The Internal Revenue Service (IRS) collects taxes on all forms of
Capital Gains
IRS Tax year Total amount of winnings Total amount of losses Net winnings Amount of tax owed 2019 $10,000 $8,000 $2,000 $600 2020 $12,000 $10,000 $2,000 $720 Individuals