As you file your NC taxes, don't forget about online sports bets, of which all winnings are taxable

RALEIGH, N.C. (WTVD) -- In North Carolina, as people get ready to file their taxes, it marks the first tax season since sports betting was legalized in the state.

After almost a year, Vegas oddsmakers' bet on a successful industry in North Carolina is paying off.

"The state's done real well and we're happy with the progress we're seeing," says Johnny Avello, sports director with DraftKings

Sports betting launched just before March Madness -- too late for the Super Bowl -- but not this time.

In the fiscal year since July, the state has seen $308 million in gross revenue from sports betting.

Cameron Roth from Raleigh said he definitely played his part in that.

"I've done some DraftKings, some Prize Picks, and I think it's been a lucrative avenue for us in North Carolina," he said.

So has Sue Mooney. She said her husband and his friends have enjoyed a little occasional payday.

"They pay for a trip, they do something fun with it," she said.

But what many might not know is all that money is taxable in North Carolina.

The North Carolina Department of Revenue realizes a lot of people are in the same boat.

They're reminding people any winnings needed to be included as income - taxed at the same 4.5% as the rest of your money.

And, as of right now, you cannot deduct any losses.

"The biggest misconception I would surmise for taxpayers is the netting of the two -- can I deduct my losses from my gambling winnings and the answer in North Carolina is no," said Alan Woodard with the NC Department of Revenue.

But how do you figure out how much you've won?

If you have a big enough payout, you'll normally get what's called a W2-G form for gambling winnings.

But even if you've just won a little bit here and there, it's still up to you to report everything you won. Normally you can find that information within each of the apps you use to bet on games.

"If the income is below $600 then the taxpayer may not receive any tax documents, but then it's up to the taxpayers to keep accounting for all the winnings and earnings and all the losses," said Aradhana Aggrawal, a local certified public accountant.

Accountants are asking people as they think about every job, every side hustle, that they also remember those bets count, too.

On Wednesday, a bill from Republican Wake County State Rep. Erin Pare was filed in the state legislature that would change the state to allow for gambling losses to be deducted from winnings in the future, but unless and until that happens, all winnings must be reported in North Carolina.