|Posted: February 14, 2006, 6:58 pm - IP Logged|
People here are telling you right (it's refreshing to see people who don't get this all twisted, many do).
You can write off your losses up to your winnings. In other words, you can't win $1700 and show $3,000 in losses, only $1700.
It's also not a good idea to decide you want to gather up all "your" receipts on Dec. 31 and go to lottery places, race tracks, kemo lounges, etc and gather up losing slips all dated the same day. (People have done this).
As far as online, I'm not sure how you'd produce receipts, but what CalifDude said about the bank transfers is absolutely correct.
Casinos also have to report any cash transaction of $10,000 or more.