Sports Betting Records: What to Track for Tax Season
Keeping accurate sports betting records is not optional if you want a smooth tax season. The IRS requires you to report all gambling winnings, and proper documentation is the only way to substantiate loss deductions, avoid penalties, and handle an audit with confidence. This guide covers exactly what records to keep, how to organize them, and how long to hold onto everything.
Important: This guide is for general educational purposes only and does not constitute tax, legal, or financial advice. Tax laws change frequently, and individual circumstances vary. Always consult a qualified tax professional for advice specific to your situation.
Why sports betting records matter
Every dollar you win betting on sports is taxable income. The IRS expects you to report your gambling winnings regardless of whether a sportsbook sends you a tax form. Without records, you are guessing at numbers on your tax return, which creates two problems: you might overpay taxes by failing to claim legitimate deductions, or you might underreport and face penalties.
Records are especially important if you plan to deduct your sports betting losses on Schedule A. The IRS requires contemporaneous documentation to support loss claims. "Contemporaneous" means records created at or near the time of each wager, not reconstructed from memory months later.
Beyond tax compliance, good records give you a clear picture of your actual betting performance. Many bettors overestimate their wins and underestimate their losses. A detailed log eliminates guesswork and helps you make better bankroll management decisions throughout the year.
What the IRS requires you to track
The IRS outlines specific information that gamblers should record for each wager. According to IRS Publication 529 and various revenue rulings, your records should include:
- The date and type of each wager
- The name and location of the sportsbook (app name or physical location)
- The amount wagered
- The amount won or lost
- The names of other people present (for in-person bets, if applicable)
For sports bettors using online apps, the practical version of this list looks like:
| Field | Example | Why It Matters |
|---|---|---|
| Date | 2026-01-12 | Establishes when the wager occurred for the correct tax year |
| Sportsbook | DraftKings | Matches records to W-2Gs and win/loss statements |
| Sport/Event | NFL: Chiefs vs Bills | Identifies the specific wager for audit purposes |
| Bet Type | Spread -3.5 | Shows the nature of the wager |
| Amount Wagered | $100 | Establishes your cost basis |
| Odds | -110 | Helps verify payout calculations |
| Result | Win | Determines if this is income or a loss |
| Payout | $190.91 | Your gross winnings for tax reporting |
You do not need to track every single field above in a separate log if your sportsbook transaction history captures it. But you do need access to this level of detail.
One important concept to understand is session-based tracking. The IRS may evaluate your gambling activity on a per-session basis rather than per-bet. A session is generally defined as a continuous period of play at one location or on one platform. For sports bettors, each day of betting on a single app typically counts as one session. Your net result for that session (total won minus total wagered) determines whether it was a winning or losing session. Tracking at the session level helps you accurately categorize wins and losses the way the IRS expects.
Building a sports betting diary
A betting diary is the gold standard for IRS documentation. It provides a contemporaneous record of your gambling activity that goes beyond what sportsbook statements alone can show.
Your diary does not need to be fancy. A spreadsheet with consistent columns works well. The key is updating it regularly rather than trying to reconstruct everything in March.
What to include in each entry:
- Date the bet was placed and date it settled
- Sportsbook used
- Description of the bet (sport, teams, bet type, odds)
- Stake amount
- Result and payout
- Running balance (cumulative profit/loss for the year)
Paper vs digital records:
Digital records are easier to organize, search, and back up. A Google Sheets or Excel spreadsheet gives you filtering, sorting, and automatic sum calculations. However, the IRS accepts paper records as well. If you prefer a physical notebook, make sure to keep it safe and legible. Consider opening a separate bank account dedicated to sports betting deposits and withdrawals. This creates a clean financial trail that simplifies reconciliation at tax time and provides additional documentation the IRS can verify.
How often to update:
Update your diary after each betting session or at least weekly. The longer you wait, the harder it becomes to reconstruct details accurately. If the IRS questions your records, entries made weeks or months after the fact carry less weight than contemporaneous ones.
For bettors who place many wagers per day, logging every individual bet may be impractical. In that case, consider logging session summaries (total wagered, total won/lost, sportsbook used) and relying on your sportsbook transaction history for bet-level detail.
Transaction history and sportsbook records
Every major sportsbook provides transaction history that you can download or view in your account. These records are a critical complement to your personal diary.
Win/loss statements: Most sportsbooks release annual win/loss statements in January or February. These summarize your total deposits, withdrawals, wins, and losses for the calendar year. Download these as soon as they are available.
Detailed betting history: Apps like DraftKings, FanDuel, BetMGM, and Caesars allow you to export your complete betting history as a CSV or PDF file. Look under your account settings for a "Transaction History" or "Tax Documents" section. This includes every wager placed, the date, amount, odds, and outcome. Download these monthly rather than waiting until year-end, as monthly exports tend to be more detailed than annual summaries.
Tax documents: You may receive Form W-2G for qualifying wins or 1099 forms for certain promotional payments. Sportsbooks issue a W-2G when your winnings are $600 or more and the payout is at least 300 times your wager. For wins exceeding $5,000, the sportsbook typically withholds 24 percent for federal taxes automatically. You may also receive a 1099-MISC if aggregate promotional payments or bonuses exceed $600 for the year. To understand exactly what sportsbooks report to the IRS and when these forms are triggered, review the reporting thresholds for your specific situation.
Multiple sportsbooks: If you use more than one app, you need records from every single one. A common mistake is gathering documents from your primary sportsbook and forgetting about the two or three others you used occasionally throughout the year.
| Document | Source | When Available | What It Shows |
|---|---|---|---|
| Win/Loss Statement | Each sportsbook | January-February | Annual summary of wins, losses, deposits, withdrawals |
| Form W-2G | Sportsbook (for qualifying wins) | January 31 deadline | Individual large wins with withholding amounts |
| Form 1099 | Sportsbook (for promos/bonuses) | January-February | Promotional payments exceeding thresholds |
| Betting History CSV | Each sportsbook app | Available year-round | Every individual wager with full details |
| Bank/Payment Statements | Your bank or payment provider | Monthly | Deposits to and withdrawals from sportsbooks |
Proof of losses: what counts as documentation
Proving your losses is just as important as reporting your wins, especially if you plan to itemize deductions. The IRS can disallow loss deductions if you cannot substantiate them.
Acceptable forms of documentation include:
- Your betting diary with contemporaneous entries showing each losing wager
- Sportsbook win/loss statements showing net losses for the year
- Detailed transaction history from each app showing individual losing bets
- Bank and credit card statements showing deposits to sportsbook accounts
- Screenshots of bet slips for significant wagers
- Email confirmations of bets placed and settled
The strength of your documentation matters. A personal diary backed by sportsbook records and bank statements is much stronger than any single source alone. The IRS looks for consistency across multiple records.
For a deeper understanding of how loss deductions work and the specific documentation standards, see our guide to deducting sports betting losses.
What does NOT count as proof:
- Verbal estimates of what you think you lost
- Reconstruction of betting activity from memory alone
- General statements like "I lost about $5,000 last year"
How long to keep your records
The IRS statute of limitations determines how long you should retain your sports betting records:
- 3 years minimum: The standard audit window runs three years from the date you file your return. This is the absolute minimum retention period.
- 6 years recommended: If the IRS suspects you underreported income by more than 25 percent, the window extends to six years. Since gambling income is commonly underreported, this is a safer target.
- 7 years for loss claims: If you claim a deduction for worthless securities or bad debts (uncommon for sports bettors, but the principle applies to large loss carryover situations), the window is seven years.
Practical recommendation: Keep all sports betting records for at least six years. Digital storage makes this easy. Create a folder for each tax year containing your betting diary, sportsbook statements, W-2Gs, bank statements, and any other supporting documents.
| Retention Period | When It Applies | Recommendation |
|---|---|---|
| 3 years | Standard audit window | Absolute minimum |
| 6 years | Income underreporting suspected | Recommended for all bettors |
| 7 years | Loss deduction claims | Best practice if claiming large losses |
| Indefinitely | Fraud or failure to file | No statute of limitations applies |
Organizing records for tax season
When tax season arrives, having organized records saves time and reduces stress. Here is a practical approach:
Step 1: Gather all sportsbook documents. Log into every app you used during the year. Download win/loss statements, W-2Gs, 1099s, and full betting history exports. Do this in January or February before you forget which apps you used.
Step 2: Reconcile your personal diary with sportsbook records. Compare your running totals against the win/loss statements. If there are discrepancies, investigate before filing. Common causes include pending bets at year-end, promotional credits, and voided wagers.
Step 3: Calculate your totals. Sum up your gross winnings and gross losses across all sportsbooks. These are the numbers you need for your tax return.
Step 4: Organize by sportsbook. Create a subfolder for each sportsbook containing its specific documents. This makes it easy to trace any number back to its source if questioned.
Step 5: Connect to your tax return. Your gross gambling winnings go on Schedule 1 as other income. If you itemize, gambling losses go on Schedule A. For a complete walkthrough of how to use these records when filing, see our guide to reporting sports betting winnings on your tax return.
If your betting activity is complex (multiple sportsbooks, large volumes, professional-level activity), consider working with a tax professional who understands gambling taxation. The distinction between professional and casual bettor tax treatment can significantly affect how your records are used.
For a comprehensive overview of how sports betting taxes work, including federal obligations, state rules, and the OBBBA changes for 2026, see our complete sports betting taxes guide.
Frequently Asked Questions
How long should I keep my sports betting records?
Keep all sports betting records for a minimum of three years after filing your tax return, though six years is recommended. The IRS has a six-year audit window when it suspects income underreporting exceeding 25 percent. Since gambling income is a common area for discrepancies, the longer retention period provides better protection. Digital records are easy to store indefinitely.
What happens if I lose my betting records?
If you cannot produce records to support your claimed gambling losses, the IRS may disallow your loss deductions entirely. You would still owe tax on your reported gambling income with no offsetting deduction. Contact your sportsbooks to request duplicate win/loss statements and transaction history. Most apps retain records for several years and can reissue documents upon request.
Do I need to track every single bet?
The IRS expects detailed records of your gambling activity, but the level of detail depends on your situation. At minimum, you should maintain session-level records (date, sportsbook, total wagered, total won/lost). For bettors claiming loss deductions, bet-level detail from your sportsbook transaction history combined with a personal diary provides the strongest documentation.
What are the best tools for tracking sports bets?
Spreadsheets (Google Sheets, Excel) are simple and effective for most bettors. Dedicated bet tracking apps like Action Network, SharpSide, or Pikkit offer automatic syncing with some sportsbooks and built-in reporting. Your sportsbook apps also maintain complete records that you can export. The best tool is whatever you will actually use consistently throughout the year.
What records do I need for gambling loss deductions?
To claim gambling loss deductions on Schedule A, you need documentation showing the date, type, and amount of each wager along with the outcome. Acceptable proof includes a contemporaneous betting diary, sportsbook win/loss statements, detailed transaction history exports, bank statements showing sportsbook transactions, and copies of W-2G forms. The IRS looks for consistency across multiple record types.
Can sportsbook transaction history replace a personal betting diary?
Sportsbook transaction history is valuable but may not be sufficient on its own. The IRS prefers contemporaneous records kept by the taxpayer. Transaction history combined with a personal diary is the strongest approach. If you rely solely on sportsbook records, make sure you download and save them regularly since apps can change formats, delete history, or become unavailable.
When should I start keeping records?
Start keeping records from your very first bet of the tax year. Do not wait until you think you have won or lost enough to matter. Every wager contributes to your annual totals, and the IRS expects records for the entire year. If you are reading this mid-year, begin tracking now and request retroactive transaction history from your sportsbooks to fill in the gaps.
Do I need separate records for each sportsbook?
Yes. Maintain separate records or clearly labeled sections for each sportsbook you use. Each app provides its own win/loss statement and tax documents, and you need to be able to match your personal records to each source. When filing, you combine the totals from all sportsbooks into a single gambling income figure, but keeping per-sportsbook records makes reconciliation and audit response much easier.
How does the IRS find out about unreported sports betting income?
The IRS has several ways to identify unreported gambling income. Sportsbooks file W-2G forms directly with the IRS for qualifying wins, creating an automatic paper trail. Beyond that, the IRS can cross-reference your bank deposits against your reported income, subpoena detailed betting records from licensed sportsbooks, and flag lifestyle inconsistencies during audits. Even without a W-2G, large or frequent deposits from sportsbook apps can attract scrutiny. Keeping thorough records protects you by demonstrating that your reported figures are accurate and complete.
Do I still need records if I take the standard deduction?
Yes. Even if you take the standard deduction and cannot claim gambling loss deductions, you still need records to accurately report your gross gambling income. The IRS requires you to report all winnings regardless of your deduction method. Records also protect you in an audit by proving the income figures on your return are correct. If your situation changes in a future year and you decide to itemize, having prior-year records ensures you are prepared.
Gamble responsibly. If you or someone you know has a gambling problem, call +1-800-GAMBLER.
Disclaimer: This article is for general educational and informational purposes only. It does not constitute financial, tax, or legal advice, and should not be relied upon for making tax filing decisions. Tax laws are complex, vary by jurisdiction, and change frequently. The information provided may not reflect the most current legal developments or your specific circumstances.
Before filing your taxes: Always consult with a qualified tax professional, certified public accountant (CPA), or licensed tax preparer who can review your complete financial situation. For authoritative and up-to-date guidance, refer to the IRS website at irs.gov and your state department of revenue.
Last updated: February 2026
