So youve decided to try online gambling, hoping to have fun and make a few bucks. And wouldnt you know it, youre a winner! Whether youve won a small amount or a substantial sum, you might have a few questions about what to do next.

The biggest question you might have, especially if you have won a large amount, say in a poker tournament or by hitting a jackpot, is do you have to pay taxes on your winnings? If you live in the United States, the answer is most definitely yes. It does not matter that the site you are playing on is out of the United States jurisdiction. If you have won money, you are required to report it. The good thing is that you may use your losses to offset your winnings. You will be required to itemize all wins and losses on your tax form, so it will help to have proper documentation. It is not always easy to provide such documentation, especially for losses prior to your big win. For this reason, among others, you should always keep careful records of your online casino gaming. At the very least, most sites offer a transaction history listing your last twenty or so deposits and/or withdrawals from the site. If you print these out regularly, it will help you with your claim.

So what do you do now that you have had your big win? If you have generated this win through play and not hitting some kind of jackpot, you may be tempted to consider the idea of turning professional. After all, many people relish the thought of sitting at their computer playing Internet games all day for a living rather than trekking out to some regular job. A decision like this is almost always a mistake. Very few people are able to be successful as professional gamblers. You should be aware that while you may be very good at your chosen game, statistically even very poor players will have big wins from time to time. You need to consider whether your win was primarily a function of your skill, or a statistical anomaly. You also should think about the lifestyle a professional gambler has. There is very little security, and runs of bad luck can be disastrous. It also tends to be something of an anti-social and sedentary life style.

Your best bet is probably to take some of the money out, spend it on something nice, put some in the bank, and leave some to keep your bankroll healthy. Having a few extra dollars in your account to pad you from those long cold streaks doesnt hurt, and neither does having a little fun with your hard earned winnings.

A final note: Try to keep playing the same way you did when you built your win. Some people may be tempted to gamble it up a little more because they have money to burn. Others may feel indestructible, as if the fickleness of luck cannot turn on them. It is best to keep your head about you, and realize your success is probably at best equal parts luck and skill. Similarly, when you experience a big loss, you should try to remember that if the cards (or dice, or whatever) are not with you, there is often little you can do except live to fight another day.