Sports betting is different than slots, you won't get a tax form for sports betting.

Lotteries are 600-1, slots are over $1199 no matter the amount you bet. I've seen women playing $250 a hand in Video Poker and get tax form after tax form. I'll never forget the guy I was sitting next to at Caesar's in the Palace Slot room which is their high limit area. He was playing 100 Hand VP at $5, so that's $500 a hand and they had someone on standby because he was hitting over $1200 turn after turn. To me it's BS betting $500 and get over $1200 and have to pay taxes on it.

The only time you get tax forms for sports is contest winnings.

You're fine with the example you presented.