
If you are one of the lucky people who has managed to accumulate $600 or more in Kickr sweepstakes redemptions, then you need to listen up because there's a small matter of Kickr taxes to think about.
Admittedly, nobody wants to think about it when they're placing their social bets, and some people might even say that sweepstakes are immune from the tax man's grasp. However, it is a consideration, and unfortunately, social iGaming and sweepstakes sports bets are subject to possibly more than 1 type of tax at both the federal and state levels.
Firstly, and perhaps most importantly, we should point out that we are not tax specialists and any of the information shown on this page does not constitute tax advice. If you’ve read our Kickr review, you’ll know that this is a fun and exciting sweepstakes sportsbook that lets you redeem cash prizes when you place social bets using virtual currencies. But just because you don’t use real money on the Kickr app, it doesn’t mean you’re automatically exempt from paying taxes.
One thing we can tell you for sure is that taxes on all types of winnings and sweepstakes redemptions are applicable across the US. This is thanks to the 24% standard federal tax that will apply to anything that you earn over $600. If it's under $5,000, then the enterprise in question, in this case, Kickr, doesn't need to report it separately, but you will still have to enter the relevant figures on your tax return.
Beyond federal Kickr taxes, each state has its own method of chipping away at your winnings, and you'll find some are more favorable than others. Several states don't have an additional income tax applied beyond the federal one, but others will try and sting you for an extra 13.3%, for example, as a California resident.
| Zero personal income tax states | Alaska, Florida, Nevada, South Dakota, Tennessee, Texas & Wyoming |
| High personal income tax states | California, Hawaii, New York, New Jersey, Oregon, Minnesota & Vermont |
It's your responsibility to declare any redemptions that you make from this site over the value of $600. With the Form 1040, you can declare your annual tax return to avoid issues. Completing this form is very straightforward, but if you've never done it before, then you might want to ask someone who has or an accountant.
You can look back through your kicker account to see exactly how many Bucks you have redeemed throughout the financial year, and once you have this figure at hand, it's time to add it to the correct box on the form. You need to head to 8C on the form and find the section that allows you to input other income. Here, you enter the details on schedule 1 and send it off along with the form.
Before you can play using your Sweeps Coins, or ‘Bucks’ as they are known at this site, you need to verify that you are the account holder and that your ID is officially recognized. Without this, you won't be able to request any redemption for the Bucks that you've accumulated along the way.
You can still play for free using your Gold Coins or ‘Bits’ if you like, but it'll only ever be for a bit of fun. At best, you’ll be able to prove to your friends that you're better at playing slots than they are. You can acquire a handsome number of Kickr Bucks in various ways, and these are a few of our favorite Kickr bonuses.
Before you can even think about redeeming virtual currency and paying taxes, you need to get an account up and running first. It only takes a couple of minutes to sort out all the paperwork and get everything live. Remember that if you plan to make a purchase or use your Bucks, you need to verify your account as well, which will add to the processing time somewhat. In return, you'll get 150,000 Bits and 4 Bucks.
This is a fantastic deal as not only will you have a huge amount of Bits to play with and enjoy some free games, but you'll also have a few of those valuable Sweeps or Bucks, as they are known here.
One of the best Kickr tips I can give you is to take part in the daily login bonus, as it’s one of the easiest ways to pick up Bits and Bucks for free. Logging into your account every day can be quite a rewarding experience here. Once you are there, you can place some social bets, take a spin on a few casino-style games, and administer any account preferences that you need to. As a result, you'll get your hands on up to 24,000 Bits and 0.6 Bucks.
Kickr is largely considered one of the top social sportsbooks in the US, and referring friends to this site can also result in virtual currency coming your way in the form of both Bits and Bucks. For each person that joins, you'll get 10 Bucks and 2.5 million Bits.
Please note that each person that you refer will not only have to sign up and create an account here, but they will also need to purchase Kickr Bits. The minimum amount that they must spend is $9.99.
If you'd like to make a bundle purchase, then you can head to the store and do so. As a result, you'll be given a list of options with different prices available. With each bundle of Bits, you get some free bucks as well, and the more Bits you buy, the more Bucks you get! There's a 50% first-purchase discount for new players, and this can reward you with up to 5.5 million Bucks, and you grab a further 21 Bucks as a bonus.
Remember that it isn't obligatory to make any kind of purchase at this site, but if you'd like to see a huge haul of virtual currency in your account, then it's definitely worth considering.
Kickr might not allow you to make real cash bets, but that doesn't mean that it's possible to use it in every state. In the beginning, pretty much everybody was on board, but over the months and years, a few states have started to drive home their own rules and regulations. There's a difference between social iGaming/sports bets and sweepstakes because the social versions are purely for fun, and they don't allow for any prize redemptions. The sweepstakes games are a bit different, and you could see some cash make its way into your account.
Even though some states won't allow you to access this brand, the list of available areas is still a hell of a lot longer than those that accept regular cash bets. Therefore, this remains your very best option for taking part in social casino-style games and sports bets across most of the USA.
Residents in Connecticut, Idaho, Louisiana, Michigan, Montana, Nevada, New Jersey, New York, and Washington can't play here, unfortunately.
The current list of excluded states should be used as a guide only, and you must make sure of the current regulations in your area before you put pen to paper, so to speak. Things can change quickly, and you never know when something might be available or unavailable within a particular jurisdiction, and suddenly it changes just to keep everybody on their toes.
As with any type of tax situation, it's always better to seek professional help if you have any doubts. We've seen that the system is fairly simple, but it will vary from state to state. We recommend that you check out the information in your area to ensure that you are filling out the right forms and paying the right amount of tax. Kickr taxes are like any other type of sweepstakes winnings, and everybody will be subject to them as long as they have redeemed more than $600 during the tax year.
But if you’re fine to play even with these circumstances, simply click on the links on the banners of this page to get started.
You might have to pay taxes on cash prizes that you redeem at this site. The same is true for all types of sweepstakes, lotteries, and other forms of gain. The federal government will have its own values applicable, and at the state level, you could be looking at more.
As far as we know, Kickr isn't obligated to withhold any tax as long as the amount that you've redeemed is under $5,000. However, you should check with the site directly if you are unsure of how to pay your personal taxes. It's also a good idea to seek professional tax advice.
Kickr is a perfectly legal and legitimate sweepstakes site that allows you to play for free and potentially redeem other types of virtual currency for real cash prizes. Please make sure that you reside in a place that is on the permitted list of states.
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