LAS VEGAS (KLAS) — A major win for gamblers raises the jackpot reporting threshold to $2,000 next year, officials confirmed this week.
For gamblers accustomed to the $1,200 threshold for slot machine jackpots, it’s big news. Slots that lock up while the player waits for hand-paid winnings — along with a requirement to report winnings to the IRS — often mean a 20-40 minute wait. It also brings a lot of paperwork for the casino.
But now a change tucked away in the “One Big, Beautiful Bill” that passed on July 3 will update the threshold.
It’s a battle that Democratic Nevada Rep. Dina Titus has fought for through the years, seeking a higher limit to keep up with inflation. Her office confirmed the change this week, and Titus is looking for more.
“While raising the slot reporting threshold to $2,000 is a step in the right direction, it is still inadequate. The IRS Advisory Council recommended this threshold be raised over $5,000 and indexed to inflation. The current threshold has not been updated since 1977. I will continue to advocate for the SLOT Act which adjusts the jackpot threshold accordingly to keep up with inflation and improve the gaming experience for the customer and operator,” Titus said.
Titus and national gambling organizations have been pushing for the change, but the SLOT Act hasn’t passed into law.
While $1,200 is a huge jackpot for some gamblers, recent reports from casinos show people are betting bigger to win higher amounts. A recent million-dollar slot jackpot was won on a $4 bet, but that is rare.
Talk surrounding the change started with a Monday report from SBC Americas, a gambling news portal.
SBC Americas quoted an official with the American Gaming Association, who called it a hard-fought win for the industry. There are still regulatory hurdles for the change to fully take effect, Chris Cylke, AGA senior vice president of government relations, told SBC Americas.
Another gaming news organization, Casino.org, sorted through tax questions raised online, confirming the change and reporting that it will take effect Jan. 1, 2026. IRS forms will need to be updated, according to their most recent report.
Nexstar’s KLAS reached out to AGA officials on Thursday and Friday, but did not immediately receive a response.