Cruise Ship Gambling – Oceans of Fun
Life’s a gamble. But for some of us, the ordinary risks we face each day don’t offer enough excitement, so we love to indulge in some extra gambling for fun (and, hopefully, for profit.) Buying a weekly lottery ticket is enough satisfy many of us, but millions of others prefer neon and noise with their gambling. For them, there are casinos.
While Las Vegas and Monte Carlo are the two cities best known for their casinos, casinos have begun to crop up all over the United States. Even so, the cost of getting to a casino, and paying for lodging and meals during your stay, may be more than you’re willing to pay. But what if you could have a casino vacation which included the cost of your transportation, your lodgings, and your meals-and by meals, we mean five-star cuisine served at any time of the day or night?
If that sounds like just the ticket, you should book your next vacation on a cruise ship. While most people don’t take cruises solely for the opportunity to gamble, those who do love thee cruise ship casinos. Delightfully laid-back compared to their noisy, crowded Las Vegas counterparts, their more relaxed atmosphere is due in large part to the well-trained and friendly dealers who are more than willing to educate passengers on the nuances of table games.
One thing you won’t get in a cruise ship casino, however, is free alcohol. The casino on your ship doesn’t need to entice you to play with drinks, because it’s the only casino available. So while you’re certainly welcome to imbibe as you play, whatever you drink will be charged to your onboard account.

Many cruise ships have gaming lessons for their gambling wannabes. The casino staff will, for a small fee, teach you some professional gaming tips before you actually try your luck at the tables. You’ll be able to play all the classic table games like Blackjack, Roulette, Craps, and Poker. Your cruise ship casino will have sot machines in abundance, video poker, and for the less sophisticated gambler, lots and lots of Bingo. The Bingo tournaments are usually held during the afternoon.

Qualifying Amounts
According to the IRS, a casino will need to report your winnings to the IRS if you win: $600 or more at a casino or horse track, $1,200 or more at bingo game, or $1,500 or more in a game of keno. Depending on your winnings the casino may even withhold taxes from your payout.
Smaller Fortunes
Although smaller winnings will not be automatically reported to the IRS, it is still your legal duty to report them. While the IRS may not catch you in the act if you do not report these smaller winnings once or twice, they may get suspicious if you report gambling winnings often, but only those that are verified by a W-2G Form.
Gambling Losses
In addition to reporting your gambling winnings, you will also want to deduct your gambling losses. However, you cannot report gambling losses that exceed your total gambling winnings. When you deduct the losses, do so on Schedule A on IRS Form 1040 as an itemized deduction.
Keep Track
It is both helpful and smart to keep a thorough log on your gambling activity, including winnings and losses, as well as where the gambling took place. There are several reasons why doing so is a good idea, including but not limited to the possibility of an IRS audit. It will also make things easier when you need to prepare your return next April.
Taxes Withheld
Taxes withheld from your winnings should also be reported in Box 2 of the Form W-2G you receive in the mail. Be sure to report these amounts on your Form 1040 in the total payments section.
Attach All Forms
To satisfy the IRS, be sure to attach all forms regarding your gambling activity to your tax return. This includes your W-2Gs or any other gambling-related tax documents.