This FAQ covers frequent tax questions that we receive about our Online Sportsbook and Fantasy products, and the IRS-required “Tax Forms” associated with your play on our products. This FAQ is intended to provide general answers to frequently asked questions related to these Tax Forms.
DISCLAIMER: Betr is legally prohibited from providing tax advice of any kind. This FAQ is not tax advice. Betr does not give tax advice in any capacity and in no way should this FAQ be interpreted or relied upon as tax advice. Please consult your own tax advisor if you have any questions relating to your specific tax matters.
Frequently Asked Questions - Form W-2G
What triggers a Form W-2G for Sportsbook?
Betr will issue a Form W-2G for each sports betting transaction when both of the following conditions are met:
Winnings (reduced by wager) are $600.00 or more; and
Winnings (reduced by wager) are at least 300 times the amount of the wager
Betr does not offer 300x multipliers, as a result no sportsbook users will be receiving a form W-2G.
When will I receive my Form W-2G(s) for the current year?
Betr does not offer 300x multipliers, as a result no sportsbook users will be receiving a form W-2G.
Frequently Asked Questions - Year End Statements
When will I receive my Year End Statement for the current year?
We’ll make your Year End Statements available to you on or before February 28 of the year following the current year. As an example, for the 2023 year, you’ll have your Year End Statement available by February 28, 2024 at the latest.