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Do I Have to Pay Taxes on My DraftKings Winnings?

I'm i responsible for paying taxes on money won playing fantasy football on DraftKings.com?


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According to DraftKings.com:

"You do have to pay taxes on your Cumulative Net Profit from fantasy sports. DraftKings is required to issue 1099 tax form(s) to any player who has a cumulative net profit in excess of $600 for the calendar year. This is calculated by the approximate value as ((prizes won - entry fees)+bonuses)."
Sep 11th, 2015 at 7:05 PM
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