Re: Taxes
1. Hire an accountant.
2. Keep accurate records
3. Gambling income is treated as ordinary income in the US, just like any other non-W2, non-investment income you might make.
Unless you are going to report as a self-employed professional, the sum of all your winning sessions is reported as *other income* on From 1040, and the sum of all losing sessions (not to exceed winning sessions) is reported as an itemized deduction on Form 1040, Schedule A.
IRS publication 529 expressley forbids netting wins-losses and reporting the resulting number as income.
Any more detail, ask a tax accountant.
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