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It's not clear from our question if you knew who lost the ticket, and if the person who lost the ticket knew that you found it. In ca, lost property, although not required to be picked up, is supposed to be returned to its owner, if someone does pick it up. See civil § 2080. Trusted experience working with fully licensed uk casino sites securing top slot offers. New casino players only. Posted on august 8, 2012 by queen of comps. We all have lost money in a machine or at the tables in a casino – that is a usual event! but when we have some stolen from us through a purposeful criminal action in a casino, or we have lost some because of a forgetful action on our own part, then that is not so usual. • you must report all gambling winnings—including the fair market value of noncash prizes you win—as “other income” on your tax return. • you can’t subtract the cost of a wager from the winnings it returns. However, you can claim your gambling losses as a tax deduction if you itemize your deductions. Casinos only need to see your id when you win a jackpot. The one time where you do want to give a casino your identification is if you win a large jackpot. Gambling establishments are required to obtain your id and fill out paperwork for tax purposes if you win $1,200 or more. You can still refuse to show identification. My friend had me place a bet for the cubs to win the pennant back in april. I took a picture of the ticket on my phone and texted it to him at the time. I'm going back to vegas friday and asked if he wanted me to redeem it for him. Sure enough, he can't find it. I have the picture with all the numbers visible. I placed the bet at caesars palace ETH gambling: A separate section with games for Ethereum demonstrates a fine collection of titles with high RTP, lost ticket at casino. 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You can still refuse to show identification. • you must report all gambling winnings—including the fair market value of noncash prizes you win—as “other income” on your tax return. • you can’t subtract the cost of a wager from the winnings it returns. However, you can claim your gambling losses as a tax deduction if you itemize your deductions. Anything under 5 bucks is literally fair game and casino employees routinely cash them in when found. High dollar tickets that are lost and reported are investigated and you should really turn them in or expect to be caught if you ever go back. If you pay the money back you should be good either way. 1 attorney answer ai usage posted on oct 21, 2010 it's not clear from our question if you knew who lost the ticket, and if the person who lost the ticket knew that you found it. In ca, lost property, although not required to be picked up, is supposed to be returned to its owner, if someone does pick it up. See civil § 2080. 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