Prizes from sweepstakes casinos may count as taxable income. This is a general overview, not tax advice.
Prizes may be taxable
In the US, prizes and awards are generally treated as income. Casinos may report large prizes to the IRS, and you may receive a tax form above certain thresholds. Whether or not you receive a form, you are usually still responsible for reporting income.
Keep good records
- Your redemption history and amounts
- Purchases you made
- Dates and payout methods
- Any tax forms you receive
State tax
Some states also tax prize income. Rules vary, so check with your state tax agency.
Talk to a professional
Tax treatment depends on your circumstances and can change. Speak to a qualified tax professional for advice about your situation.
Frequently asked questions
Possibly, if you exceed the casino’s or IRS reporting thresholds. You may still owe tax if you do not receive a form.
General information only, not legal, tax or financial advice. 18+/21+ depending on state. No purchase necessary. Play responsibly.