How Much Taxes Do You Pay On Sports Betting?

It depends on the state, FanDuel says on its website, adding that it might have to submit tax information to one or more state taxing

FanDuel Sportsbook available in AZ, CT, CO, IA, IL, IN, KS, KY, LA, MA, MD, MI, NJ, NY, NC, PA, OH, TN, VA, VT, WV, WY only Full T&Cs apply

fanduel sportsbook pa promo code Fanduel will issue a W-2G or 1099 for your winnings Once your winnings reach $5,000 they will withhold 25% for you for federal tax purposes

fanduel pa sportsbook DraftKings, FanDuel and other betting apps are facing a bigger tax hit in Illinois following changes to tax policy this year New Jersey,