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| | | Daily fantasy sports Sports betting | | 2012 Boston, Massachusetts, U.S. | | Jason Robins Matt Kalish Paul Liberman | | Boston, Massachusetts , U.S. |
Fantasy sports winnings ofR$600 or more are reported to the IRS. If it turns out to be your lucky day and you take home a net profit ofR$600 or more for the year playing on websites such as DraftKings and FanDuel, the organizers have a legal obligation to send both you and the IRS a Form 1099-MISC.
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For example: I am given a 20 Casino bonus with a 10x wagering requirement. This means I need to spend 200 on eligible games, before I can withdraw any pending winnings gained. Stakes on some of our games mat not count in full towards the wagering requirement, Standard Game Weightings may apply. For example, 3/1 odds mean you profit three times the amount you wagered. AR$1 bet at 3/1 would pay outR$4 in total, or aR$3 profit and yourR$1 original wager. Conversely, 1/3 odds mean you profit a third of what you wagered. AR$30 bet on 1/3 odds would returnR$40 total, or aR$10 profit and yourR$10 original wager.
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