What is an End of Year Statement?
The End of Year Statement is a summary of the money transferred to and from games and/or sports bets using your online casino and/or sports betting account(s). This summary can be used to determine your net overall win amount or net overall loss amount for the year from casino, sports, and tournament play.
The End of Year Statement includes:
- Initial Balance as of January 1st of prior year which includes bonuses
- Total Deposits on all products
- Totals Withdrawals on all products
- Amount Wagered which includes bonuses
- Amount Won on all products
- Taxes Withheld (from sports wagers only) which include Federal Tax and State Tax
- Win (Loss) based on net over win and loss amount
- Promotions which include Bonuses Issued and Free (Sports Only) Bets
- Other which includes:
- Reclaimed winnings
- Live dealer tips
- Sports odd boost winnings
- Ending Balance as December 31st of prior year which includes bonuses
End of Year Statements become available on February 1st for the previous fiscal year. If you did not participate in gameplay during the last year, then a Year End Statement will not be generated.
The End of Year Statement is not a legal document intended for tax reporting but may be useful to your tax advisor when preparing for annual tax filing. It may or may not match your records. The IRS recommends that you keep a diary of your gaming activities. We cannot answer specific questions regarding tax return preparation. Please contact a tax advisor or the IRS at www.irs.gov.
For a daily breakdown of your gaming activity please reach out to customer support.