While Sportzino does not charge taxes, you still have an obligation to the IRS. That includes filing your Sportzino taxes based on your winnings.Sportzino Taxes | Do You Pay Taxes at Sportzino in 2025?
Unlike traditional casinos and sportsbooks, Sportzino will not send you the tax forms for filing. So, it is up to you to get the forms, fill out your winnings, and submit them appropriately. Keep reading to find out which forms apply and how you can track and report your winnings correctly.Sportzino Taxes | Do You Pay Taxes at Sportzino in 2025?
Our short answer to this question is yes, you’ll have to pay your taxes. The crucial thing to note here is that Sportzino will not make any charges or deductions for that cause. Instead, the site leaves everything to you, as stated in its terms and conditions.Sportzino Taxes | Do You Pay Taxes at Sportzino in 2025?
As for your Sportzino taxes, they apply both at the federal and state levels. The federal tax law is quite clear on filing your taxes if you win $600 or above. That applies not just to Sweepstakes sites but to traditional casinos and sportsbooks.
We should point out here that not all states tax Sweepstakes winnings. These include Alaska, Florida, Nevada, Texas, Washington, South Dakota, and Wyoming. You will still have to report your winnings here, but only the federal tax will apply.
As for the tax rates, we recommend looking up the exact rate in your state of residence. That is because some states have different rates. An example is Tennessee with a 20% tax rate.
Before you get to the point of having to file your taxes, you must have first completed the KYC verification on Sportzino. As noted in our Sportzino reviews, this process is just as easy as the registration. The primary difference is that you will have to submit a few documents that verify your identity.
As for the initial verifications before submitting the documents, those will be done via email and your mobile number. Once all verifications are complete, you can proceed to redeem your prizes. That is, if you’ve met all requirements for redemption.
We recommend keeping records as you start playing, but most importantly when you start having redeemable winnings (Sweeps Coins winnings).
To avoid mix-ups, here are the tax forms that apply to online gaming:
| Form | Description and When to Use It |
|---|---|
| W-2G | The form is used to report gaming winnings that exceed a specific threshold. Information needed includes your gross winnings, federal tax withheld, and your wager. |
| 1040 | This form is used to report all your income, deductions, and credits. It covers your final tax return, including what was reported in Form W-2G. |
Since Sportzino does not issue W-2G forms, you’ll have to file the taxes yourself using Form 1040. When reporting your winnings with Form 1040, you must declare them under the “Other Income” section.
Your tax report will cover your overall annual winnings. Note here that your winnings do not refer to only the amount you win while playing the games. It covers your Sportzino Taxes | Do You Pay Taxes at Sportzino in 2025?Sportzino referrals and any other coins that are in your redeemable balance. That includes giveaways as well.
While filing your taxes, ensure you double-check the figures. Be transparent about your winnings, as one mistake might get you in trouble with the Internal Revenue Service (IRS). You may end up paying more because of the penalties that may follow.
Since you have to file your taxes for your annual winnings, you need an effective way to track all of them. For that, we recommend doing the following:
This should include records of the amounts wagered, your winnings, and the amount used in purchasing Gold Coin packages. You can use a tracking app for easy record-keeping and also the activity reminder on the site. Having these records handy will help you report not just your winnings but also your losses (from your wagers).
Sportzino offers records of your transaction history. To access it, open the right slide-out menu and click “Transaction history.” While that will help you recall your previous transactions, you can still keep your own records of your winnings as they come.
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The short answer is no. Bonuses, whether those you receive from daily logins or
Sportzino promo codes, are not taxable directly. However, your bonus winnings that you end up with after meeting the casino’s terms and conditions must be reported in the appropriate tax form (Form 1040).
Note that the redeemable bonus winnings will be reported as “Other Income” if that is all you have in your balance. If not, you will add it to your overall redeemable winnings when reporting it.
Our recommendation is to play from the state you reside in and use for your KYC verification. If you find yourself landing winnings while in another state, you’ll have to prepare reports for both states. Most states tax income earned by their residents, whether they earned it from outside the state. To be on the safe side, contact a tax professional before filing your taxes in this regard.
Here are a few pros and cons of Sportzino taxes to consider:
While you don’t have to worry about Sportzino charging for taxes, you still have to be up and doing to ensure you file the correct report. Maintain transparency in your reports and pay attention to the applicable tax rates in your state. That includes the federal tax rate and the state rate.
Yes, you have to pay taxes on all your Sweeps Coins winnings at the social casino. However, all matters regarding taxes are up to you. That includes tracking your winnings and filling out the form.
The amount will depend on which state you are added to the federal tax rate. However, the federal government taxes winnings of $600 and above.
The reason is because the federal government and states treat them as income. Nevertheless, some states do not treat it as income subject to tax.
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