Are deposits over 10,000 reported to the IRS, or is it reported if the balance is over the amount?

I'm not sure that it really matters. ALL of your winnings, not just the net, is reported by the casino to the IRS. So, if you win $100,000 over the course of a year but lose $101,000, the IRS will receive information from the casino that you won $100,000 and expect to see that amount reported as income on your tax return. Unless you are a professional gambler, your losses are reported on Schedule A. There are complicated rules for reporting gambling winnings and losses, so you may need a tax professional to prepare your return. At the same time, to answer your question, banks, etc. are required to report deposits of $10,000 or more, and it is illegal to deposit $7,500 in one bank and $5,000 in another bank to avoid having your bank report a $12,500 deposit to IRS.