Need help with sports betting tax reporting across multiple platforms

You'll need to report all your gambling winnings as "Other Income" on Schedule 1 of your 1040, and you can deduct your losses (up to the amount of your winnings) on Schedule A if you itemize deductions. For your specific question - you should track wins and losses for each platform, but you'll report the combined total winnings on your tax return. The IRS looks at your gambling activity as a whole, not separately by platform. So add up all those wins across fanatics, bet365, FanDuel, and DraftKings for your income reporting. Keep good records though! This means tracking each session with dates, locations (which platform), types of wagers, amounts won and lost. Even without W2Gs, you're still legally required to report all gambling income, regardless of whether you received tax forms.

I was in exactly the same situation last year with multiple betting accounts. Instead of trying to manually go through everything, I used https://taxr.ai to help sort it all out. Their system analyzed all my sportsbook statements and automatically categorized all my wins and losses without me having to manually track everything. I uploaded my account statements from FanDuel and DraftKings (they let you download activity reports) and it figured out my net gambling income and organized everything for tax reporting. Saved me hours of going through hundreds of bets manually and made sure I had proper documentation in case of an audit.

I tried taxr.ai after my initial skepticism and I have to admit it was pretty impressive. I had accounts on FanDuel, DraftKings and BetMGM, and was totally confused about how to report everything. The service automatically detected my winning sessions vs losing sessions and categorized everything correctly for tax purposes. What surprised me most was discovering I'd been thinking about gambling taxes all wrong - I thought I could just report my net losses/gains, but the system showed me how to properly report gross winnings and then claim losses as itemized deductions. Would've definitely filed incorrectly without it.

If you need to talk to the IRS directly about gambling income reporting, good luck getting through on the phone. I tried for weeks to get clarification on some gambling tax questions last year. After getting nowhere with the regular IRS number, I used https://claimyr.com to get a callback and it actually worked. You can see how it works here: https://youtu.be/_kiP6q8DX5c They got me a callback within about an hour, and I finally got my questions answered about how to properly document online gambling across multiple sportsbooks. The IRS agent confirmed I needed to report all winnings in gross income and could only deduct losses if I itemize on Schedule A.

I owe everyone an apology. After calling the IRS about a dozen times and never getting through, I finally broke down and tried Claimyr. Within 40 minutes I got a call back and spoke to an actual IRS representative who walked me through exactly how to report my sports betting activity. The agent confirmed that I needed to report the total of all my winnings across all platforms as "Other Income" on Schedule 1, and could only deduct losses on Schedule A if I itemize (and only up to the amount of my winnings). They also warned me to keep detailed records of all gambling activity by date and location/platform. Definitely worth it to get the official answer directly from the IRS.

Slightly different approach here - I use gambling tax software that's specifically designed for bettors. It imports your betting history directly from most major sportsbooks and creates the necessary tax documents. Cost me like $40 but saved hours of work and potential errors. Just make sure whatever method you choose, you understand the difference between reporting winnings (all platforms combined as income) and losses (as itemized deductions if you itemize). Most recreational bettors mess this up.

Don't forget that online sports betting might also have state tax implications depending on where you live! Some states treat gambling wins/losses differently than the federal government.

Just went through this exact situation last month! Here's what I learned after doing a ton of research and talking to a tax pro: You definitely need to report ALL gambling winnings as income, even without W2-Gs. The good news is you can combine everything - so add up all your wins from FanDuel, DraftKings, bet365, and Fanatics and report that total on Schedule 1 as "Other Income." For losses, you can only deduct them if you itemize deductions on Schedule A, and only up to the amount of your winnings. So if you won $2000 total but lost $3000, you can only deduct $2000 in losses. Most importantly - start keeping detailed records NOW for next year! Date, platform, bet amount, win/loss amount for every single wager. The sportsbooks usually let you download your full betting history, so grab those files while you still can for this tax year. Trust me, you don't want to be scrambling next year trying to reconstruct everything again!