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How Taxes Work for Sports Bets From Sites Like FanDuel and DraftKings | WSJ Your Money Briefing

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In 2022, legal sports wagers on sites like FanDuel and DraftKings totaled $93.2 billion.

Wall Street Journal tax reporter Laura Saunders joins host J.R. Whalen to discuss tax rules that sports bettors sometimes overlook.

0:00 IRS and sports betting
1:12 How winnings are taxed
1:40 How losses fit into taxes
3:59 Could you be audited from gambling?
4:25 Gambling at casinos and taxes
6:35 What CPAs and tax advisors say about gambling

Your Money Briefing
WSJ's personal-finance podcast features the news that affects your money and what you do with it, breaking down complicated money questions from spending and saving to investing and taxes.

For more episodes of WSJ's Your Money Briefing: https://link.chtbl.com/WSJYourMoneyBriefing

#SportsBetting #Gambling #WSJ
Category
Television
Tags
taxes, tax advice, sports betting
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