Requirements for Keno, Bingo, and Slot Machines

If your organization conducts keno or bingo or operates slot machines, the reporting rules differ slightly from those just described.

Keno
With keno, if winnings, minus the wager, are $1,500 or more, you must file Form W-2G.

For example, if someone wins $1,650 in a keno game on a $100 wager, then the net winning would equal $1,550—making it reportable.

Bingo and Slot Machines
For bingo and slot machines, the rule is that if gross winnings (before deducting the wager) equal $1,200 or more, you must file Form W-2G.

File Form W-2G at the same time you pay the prizes to the winner. Give copies B, C, and 2 of the form to the prizewinner. Send copy A to the IRS by February 28 or 29 of the year after the year in which you paid the gaming winnings.