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The requirements vary depending on the type of gambling, but if you have a single win that exceeds a certain amount of money, the gaming establishment will collect certain information from you (such as your Social Security number and a copy of your ID) and will issue you a Form W-2G to document the win.

Slots are always popular. However, players looking for better odds should try their hand at blackjack or poker, as these can provide a greater return if the right strategy is employed. Playing table games such as roulette and craps can be fun and potentially lucrative if you win big enough.