ozymandias77096 wrote:
My question is: Are prizes paid in 'full value promotional chips'
treated differently by the IRS than prizes that are paid in cash?
It's anyone's guess as to how IRS will treat any
gambling situation. You could probably make a
good case for using a promotional chip's EV as
its value for tax purposes, or you might also go
with your results in using the chip, as is done
with tournament lammers in the live poker world.
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