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The math behind calculating payouts on sports bets When the odds are negative, change the number to positive and use this formula: 100/Odds * Stake = Profit. When the odds are positive: Odds/100 * Stake = Profit.
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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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