What kind of records should I keep throughout the year to document my gambling activity?

Good recordkeeping for gambling is one of those things where the effort required depends heavily on who you are — a recreational player in Ottawa has a very different situation from someone the CRA might consider to be in the gambling business. Here's how to think about it, and what to actually keep.

Why records matter even when winnings aren't taxable

Lottery and certain other winnings are non-taxable in Canada — but if you're considered to be in the business of gambling, the CRA will look at both proceeds and losses for income tax purposes. For the vast majority of Ottawa players on regulated Ontario sites, gambling is a hobby and winnings are a windfall, not income. That said, your bank account doesn't explain itself. If large deposits flow in and out and the CRA ever asks questions during an audit, you'll need documents that support the winnings and losses for all significant amounts. Without records, you're relying on memory — which the CRA notes is unreliable; a taxpayer may often recall wins but have to be prompted to recall losses.

There's also a personal-finance dimension entirely separate from tax: knowing your actual net position across the year is the clearest way to keep gambling genuinely recreational. If you're 19+ and playing on a regulated Ontario site (look for the iGaming Ontario and BetGuard logos — their presence confirms the operator is registered and managed under the AGCO's framework), your account history is already being logged on the operator's end. But that doesn't mean you shouldn't keep your own copy. ConnexOntario (1-866-531-2600) is there if gambling ever starts feeling less like entertainment and more like pressure.

What to keep throughout the year

Think in four categories:

• Session-level activity. For each meaningful gambling session — whether that's a poker night, a stretch of slots, or a sports betting run — note the date, the platform, the game type, the amount you started with, and the amount you ended with. This doesn't need to be elaborate; a spreadsheet row per session works fine. Operators' own systems log game play history, including games played, amounts bet, and amounts won — so you can cross-reference your own notes against your account history at any time.
• Deposit and withdrawal records. Online betting and gambling require the use of a credit card or e-commerce account where wagers are withdrawn and winnings are deposited. Save every deposit confirmation and every withdrawal receipt. Your bank or payment provider statements will show these transactions, but the operator's transaction history ties the amounts to the specific account. Download both periodically — don't assume the operator's portal will hold detailed history indefinitely.
• Account statements from the operator. Most regulated Ontario platforms let you export a transaction history. Do this at least quarterly. It gives you a timestamped record of deposits, withdrawals, and balance changes that would be hard to reconstruct later if you ever needed to demonstrate the source of funds in your bank account.
• Banking records that touch gambling funds. Keep the bank and credit card statements that show gambling-related transfers. Online betting and gambling require the use of a credit card or e-commerce account; payments to or from such an account are ordinarily by credit card, but may also be by other means. These statements create an independent paper trail that corroborates your own notes.

If you play seriously enough that "business" could ever apply

Gambling — even regular, frequent, and systematic gambling — is something that by its nature is not generally regarded as a commercial activity except under very exceptional circumstances. There are some exceptional cases where gambling activities have been held to be taxable, but these relate to taxpayers who applied inside information, knowledge, and skill to their activities. If you fall into that narrow category, your recordkeeping obligation is much closer to running a business: detailed session logs, bankroll tracking, and documentation of any research or system costs. A tax professional familiar with Canadian gambling law is worth consulting if you're unsure which side of that line you're on.

One practical note for everyone: any interest you earn when you invest gambling winnings must be reported on your return — so if a big withdrawal goes into a savings account and earns interest, that interest is taxable income regardless of where the principal came from. Keep records clean enough to distinguish the two.

For the authoritative source on what CRA expects, the Income Tax Folio S3-F9-C1 (Lottery Winnings, Miscellaneous Receipts, and Income from Crime) is published on Canada.ca and is the clearest official guide to how gambling receipts are treated. For Ontario-specific operator verification, the full list of registered operators is maintained live at the iGaming Ontario website.