Super Bowl betting is expected to be $6.8 billion. The IRS will want a piece of your winnings.
Of 26 million people expected to bet on the big game Sunday, 4 million will wager in person at a sportsbook and 5 million will do it through an online or mobile platform.
If you wager through regulated channels and receive a tax form, remember that it also gets sent to the IRS. Americans are expected to wager about $6.8 billion on Sunday night's matchup between the Kansas City Chiefs and San Francisco 49ers in Miami. And no matter where you place your bet — whether at a casino, online, through a pool or fantasy league, or at your neighbor's annual bash — the IRS expects you come to clean at tax time.
Fans celebrate after making bets through FanDuel Sportsbook during Super Bowl LIII in East Rutherford, New Jersey, on Feb. 3, 2019."Whether you win $10 or … a large amount, everything should be reported to the IRS," he said.
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