Topics created by hydrokube

@jack

@Claudio-NinjaBet said in Questions about Taxes and Withdrawals:

Hi @hydrokube ! You are taxed only on your net winnings if they are more than 600$. The bookmakers will send you a 1099. But you are only taxed on your net profit ;)
You can read here for example https://turbotax.intuit.com/tax-tips/general/tax-considerations-for-fantasy-sports-fans/L75xYecdS

Got it, thanks! I could tell when placing the bet that it wouldn't pay out like real cash, so I ended up using free bet and that sounds like the right call.