When will I see the tournament winnings in my account?
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Tournament winnings are instantly available in your account. For US citizens with large tournament winnings ($5000 and up), a W2G form will be sent to your registered address for your records.
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If your win amount is below the $5,000 online poker threshold, no W2G forms are needed, unlike traditional casino jackpots which are typically $1,200 and up. We don't file W2Gs for wins under $5,000.
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Remember, you must report net gambling winnings (wins minus losses) to the IRS, regardless of amount. Keep a detailed record of your gambling activities, wins, and losses. Consulting a tax professional can help ensure accurate reporting. Enjoy your winnings!