What is a generalization about the reporting of winnings from online wagering to IRS. I'm not asking about anyone's personal biz but in general how common is it for the high roller to properly report as accurate as possible or is this part of the gray area since there is no damn oversight and regulation by the U.S gov. And could people be setting themselves up for an audit by not reporting substantial winnings in the long run?

Obv. the recreational player not withstanding, I wouldn't expect anyone to report $500 from their annual vegas vacation.