Maybe, as the commercials say, what you do in Vegas stays in Vegas…
Maybe, as the commercials say, what you do in Vegas stays in Vegas. But if you won big on slots or the blackjack table, you better let the IRS in on your little secret. Otherwise, an IRS agent may want to talk to you. All lottery, gambling and bingo winnings are supposed to be reported to the IRS as “other income.”
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Gambling history facts:
- In 1857, Prince Charles III of Monaco decided to introduce gambling to his Mediterranean principality to boost its finances.
- The first airplane flight to Las Vegas was made in May, 1920, with Lieutenant Randall Henderson, editor of the Blythe, California Herald, and Jack Beckley.
- In Cuba, during the 1950's, the blackjack shoe was first introduced. The dealers in Cuba handled the cards really well and management thought that the dealers may be being a little too good to their friends. So, to curb their suspicions, management decided to use a "dealing box" which is currently known as a shoe.
- Up to the 1960s, Nevada was plagued by teamster financing, hidden ownership, employment of individuals of questionable character and background, and the clear links to organized crime.
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