Saturday, September 12, 2026

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Independent Betting Newsroom

Sports Betting Taxes: What You Owe, What Gets Reported, and How to File

Sports Betting Taxes

The short answer to the question every bettor eventually asks is yes, winnings from sports betting are taxable income. Every dollar of them, whether or not the sportsbook ever sends you a tax form. Plenty of people assume that no paperwork means no obligation, but the IRS treats gambling winnings as fully reportable regardless of … Read more

Sweepstakes Casino Taxes: Do You Have to Pay on Social Wins?

Sweepstakes Casino Taxes

Yes — the IRS Doesn’t Care What You Call It Sweepstakes casinos market themselves as social gaming, not gambling. The IRS doesn’t see it that way. Once a prize converts from Sweeps Coins into a cash redemption, it’s taxable income in the eyes of federal tax law, regardless of how the platform labels the transaction. … Read more

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