← Honed Money

You won the pool. The IRS won too.

Private games count exactly like casino jackpots. Here’s what’s taxable and what you can deduct.

Your situation

01 / QUESTIONS
No

Poker, sports pools, raffles, fantasy leagues — all of it.

No

Prizes are taxed at fair market value.

No

Losses have strict deduction rules.

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Last reviewed: October 2026.

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Honed Money provides calculators and educational information for general purposes only. It is not financial, tax, legal, investment, or insurance advice. Estimates are based on the information you enter and the assumptions shown. Actual results will vary. For taxes, retirement, and government benefits, verify with IRS.gov, SSA.gov, or VA.gov. We don’t sell financial products and aren’t paid for calculator results. Use at your own risk.