Gambling wins are considered income, and the IRS expects you to report it every year at tax time.
"Not surprisingly, it's the biggest day of the year for us," DraftKings CEO Jason Robins says.
DraftKings CEO Jason Robins joins CNBC's "Closing Bell" to talk about the upcoming Super Bowl as more states allow legal sports betting.
CNBC's Leslie Picker discusses Caesars' stock jump after billionaire Carl Icahn takes a stake in the gambling giant, according to sources. Last year, Tilman Fertitta, owner of the Houston Rockets and Landry’s, proposed a deal of $13 cash and stock for Caesars. Shares of Caesars jumped in early trading on Friday after falling 46 percent last year.
The casino operator's gaming license is under review amid allegations against its founder Steve Wynn. That is being delayed by a lawsuit the former CEO filed against the company.
The winner can expect to pay more than 45 percent of their windfall in federal and state taxes.
The winning numbers were: 34, 44, 57, 62, 70 with a Mega Ball 14, NBC News reports.
Asian gambling enclave Macau finished 2018 on a strong note, shaking off China's slowing economy and concerns over the trade war with the United States.
If someone wins the top prize in Tuesday night's drawing, they might have a hard time shielding their identity.
CNBC's Eric Chemi reports on how 2018 became the year of sports betting.
Disappointed you didn't win the top prize in the last Mega Millions drawing? Now you can go after an even bigger amount. Of course, you likely won't win.
Vitaly Umansky of Sanford C. Bernstein says the Chinese macroeconomic environment and a smoking ban in VIP rooms are drivers of a "potential slowdown" in gaming growth in Macau.
Although the top federal tax rate was reduced by the new tax law that took effect in 2018, lottery winners could end up owing more to the IRS.
The gaming sector's mass market is performing best, while the VIP segment is seeing "choppiness," says Grant Govertsen of Union Gaming Group. That's why Las Vegas Sands, a "mass-market juggernaut," is a safe way to play the market, he says.
Britain's biggest gambling firms have voluntarily agreed to a TV ad blackout running from "whistle-to-whistle" during soccer matches.
"The Match" between Tiger Woods and Phil Mickelson is a one-round winner-takes-all Las Vegas golf event being staged Friday.
CEO Matthew Maddox says earnings since China's seven-day Golden Week holiday have been "choppy" during weekdays and "sporadic" on the weekends.
The midterm election produced a big win for Disney and the Seminole Tribe of Florida, which owns the Hard Rock brand, as an anti-casino amendment they backed was approved by voters.
CNBC's Contessa Brewer reports on the International Game Technology stock surging on news of a strong forecast.
Gary Bettman, NHL Commissioner, and Jim Murren, MGM Resorts chairman and CEO, join 'Squawk Alley' to discuss the NHL's and MGM Resorts' new sports betting partnership, the first for the hockey league.