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How Your Gambling Winnings Will Be Taxed in Maryland: A Gambling Winnings Tax Calculator What Are The Gambling Tax Rates in Maryland? Depending on how much a bettor wins, he or she might receive a W-2G Form from the gaming facility (casino, pari-mutuel operator, sportsbook, , online sportsbook, etc). ), though the IRS expects players to track their wins and losses. Relevant bank statements For Maryland Lottery winnings of less than $5,000 but more than $500, state residents must file a Maryland Payment Voucher Form and pay those taxes within 60 days of claiming the prize. Can I write off gambling losses in Maryland? Yes, you can deduct gambling losses on your taxes, but you will need to itemize deductions on your federal income tax return. The IRS will likely request that you report them and could add certain penalties to your tax bill.

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