Yes, Club WPT Gold does report to the IRS, and it does so in a way that’s different from most online casinos. When you win $600 or more in a calendar year, WPT Gold is required by U.S. Federal Tax Regulations to send you a Form 1099-MISC, which reports your winnings as miscellaneous income—not as gambling income like a traditional casino would.

Here’s how it works in practice. If you withdraw $22,000 from WPT Gold during a year, you’ll receive a 1099-MISC for the full $22,000, even if you deposited $35,000 and actually lost $13,000 overall. This means the IRS sees your entire withdrawal as taxable income, and you cannot deduct your losses like you could with regular gambling winnings.

The $600 threshold is important to remember. You only need to complete and submit an IRS Form W-9 if your total winnings for the year reach $600 or more. Once you hit that amount, WPT Gold will send you a 1099-MISC at the end of the calendar year to report your earnings to the IRS. For example, if you won $450 in January and another $200 in June, your total would be $650, which crosses the $600 reporting threshold.

This sweepstakes model creates a major difference in how you pay taxes compared to regular poker or casino sites. On traditional gambling platforms, you receive a Form W-2G for winnings, and you can deduct gambling losses up to the amount of your winnings. But with WPT Gold, because your winnings are classified as sweepstakes prizes, you cannot deduct any losses at all, so a $22,000 withdrawal could be taxed as $22,000 in income even if you lost money overall.

To stay compliant, you should report your WPT Gold earnings on your Form 1040 as miscellaneous income and keep detailed records of every deposit and withdrawal you make. For instance, if you deposited $10,000 throughout the year and withdrew $7,000, you’ll receive a 1099-MISC for $7,000 and should report that full amount as income, even though your net result was a $3,000 loss.

If you’re a frequent player or your winnings are significant, it’s smart to talk to a tax professional who understands sweepstakes taxation. The rules are different from normal gambling, and mistakes can lead to unexpected tax bills or audits. For many players, the key takeaway is simple: WPT Gold reports to the IRS once you win $600+, and the full withdrawal amount is taxable with no loss deductions allowed.

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