betting ticket

[u2popmart]

what is the best way to setup a ticket to avoid getting a **99 in the mail.
i guess what im asking what are the limits.
i search but could not find anything and im not sure if it has been discuss before.
thanks

[Track Collector]

Try this link: http://www.irs.gov/pub/irs-pdf/fw2g.pdf

An excerpt:

Instructions to Winner
Box 1. The payer must furnish a Form W-2G to you if you receive:
1. $1,200 or more in gambling winnings from bingo or slot machines;
2. $1,500 or more in proceeds (the amount of winnings minus the amount of the wager) from keno;
3. More than $5,000 in winnings (reduced by the wager or buy-in) from a poker tournament;
4. $600 or more in gambling winnings (except winnings from bingo, keno, slot machines, and poker tournaments) and the payout is at least 300 times the amount of the wager; or
5. Any other gambling winnings subject to federal income tax withholding.