#Tax Foundation

It may appear that most states now have their own online versions of Vegas, where players can place bets in virtual casinos or on sports. But in reality, the online offshoot of brick-and-mortar gambling is still in its infancy. Despite the proliferation of online sports betting in many states, playing casino games online still has a long way to go.…

State-run and multistate lotteries have never been a good idea, even if the long lines in Primm last week demonstrate their popularity. For many lawmakers, it's tempting to wonder just how much revenue Nevada is missing out on by prohibiting state-run lotteries - which is a part of the reason the Legislature recently moved forward on repealing the…

Whoever purchased the sole ticket that won the Powerball jackpot will have a major tax bill ahead of them. WASHINGTON - The winner who beat the lottery's astronomical odds for Wednesday's $1.765 billion Powerball jackpot has a hefty tax bill waiting for them. That's because lottery winnings are treated as income by the federal government and most…

On Nov. 7, a Powerball ticket sold in California finally matched all six numbers drawn by the lottery after 41 days without a winner. Whoever has that ticket has won the jackpot of $2.04 billion, or just under $1 billion if they take the cash prize. But it's not just the winner who scores a big payday. Lottery winnings are taxed, which means the…