The size of your sweepstakes prizes determines if the amount qualifies as Tax Withholding or should be declared by the player. This does not apply to bonus money obtained with Chumba Casino slots cheat codes, since those cannot be redeemed. Also, players can be banned from casinos if they do not report their casino prizes or pay the required tax. As far as the US is concerned, casino prizes are subject to gambling taxes, and players have an obligation to self-report them. This clause redirects the question of paying taxes to the country's tax regulation. Section 23, sub-section 4 of Chumba Casino's Terms of Use states that 'You are solely responsible for any taxes, which apply to any Prizes that you collect from your Participation.” Do you pay taxes on Chumba Casino prizes?

The good news is that only significant prizes will be subject to taxation. Players must pay Chumba taxes on casino prizes like in every other US-based gambling outfit. Since Sweeps Coins possess monetary value by redemption, they are classified as casino prizes. You can check out our other Chumba Casino review for a better idea of how the sweepstakes model works. For instance, with a Chumba Casino promo code, you can claim the no purchase SC.ĭespite the free play, prizes from games that use Sweeps Coins can be redeemed for either cash prizes or gift cards. This is because the primary currency, Sweeps Coins, is given to players for free. Your Chumba Casino prizes and their financial implicationsĬhumba is a social casino platform and does not require purchase before playing. And Chumba Casino taxes also fall under this purview. Although the company is subject to Maltese law, it runs Chumba Casino in line with the financial regulations of accepted territories. VGW Games has a license MGA/B2C/188/2010, with which it runs Promotional Play Games. This company also reserves the right to appoint any Payment Administration Agent to take charge of the payments. This gaming platform is owned by and falls under the full operation of VGW Malta, which also processes the payments.

How to report Chumba Casino online gambling taxesĬhumba Casino is a fully regulated social casino licensed from the reputable Malta Gaming Authority.

Your Chumba Casino prizes and their financial implications.

Sweepstakes Casino App (iPhone & Android).

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