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  • ScuddyStud

    I noticed this past weekend that the qualifiers for the DK Racing World Championship have a monetary value attached to 1st place of $10,333.33. I was in 1st place for the $15 qualifier for a time during the race and this $10K value was showing in the overall winnings for my account at that time. I understand that 1st place wins one of the 30 spots in the online round on Sept. 9th, where the top 12 then get a trip to Charlotte. I am curious as to why DK is assigning this type of value to a ticket to an online qualifier and, most importantly, the possible tax implications if this is reported under the “ticket winnings” category. I’ve emailed back and forth with three different customer service reps at DK and they aren’t sure either as I keep getting different answers. I’ve pasted a couple of the responses below, from the same email thread, showing how much confusion there is with the DK reps about this.

    (DraftKings)
    May 29, 11:24 PM EDT

    Hi Justin,

    Thanks for reaching back out to us. I apologize for the ongoing confusion regarding your inquiry.

    If you were to win a NAS 2018 $250K FRWC Ticket that has a value of $10,333.33, the value of your ticket ($10,333.33) would count towards your overall, taxable winnings for the calendar year. This would still be the case regardless of how you finished in the actual Fantasy Racing World Championship contest (FRWC).

    Thank you for playing on DraftKings and please let us know if you have any additional issues or questions.

    Best,

    DraftKings Player Advocate

    Refer a friend and you’ll both get a $10 Single-Game Showdown ticket! https://www.draftkings.com/refer-a-friend

    scuddystud
    May 29, 10:57 PM EDT

    Thank you to everyone for the responses. Just to confirm the winners of the qualifiers, like in the link I copied below, will not have the $10,333.33 reported at the end of the year as ticket winnings? It’s only the Top 12 from the Online Round on Sept 9th who this will be reported for?

    Thanks!!

    (DraftKings)
    May 29, 1:25 PM EDT

    Hi Justin,

    I apologize for any confusion I would be happy to explain!

    If you win the $10,333.33 qualifier ticket, you would not be taxed on that ticket. You would only be taxed on any potential winnings. The ticket itself would not be taxable.

    If you have any other questions, please let us know!

    Best,

    DraftKings Player Advocate

    My question is has anyone won a ticket in a similar type tournament, maybe in a separate sport, where they qualified for an online final and can provide some insight into how DK handled that situation? I still don’t understand why they are attaching a live final monetary value to a qualifier for an online round. I would think this $10K value would be assigned only to the top 12 finishers of the online round on Sept 9th, since these 12 will be the ones going to Charlotte.

    Thanks in advance for any clarification anyone may be able to provide!

  • anilprao88

    • 18

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    • Ranked #16

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    • 2017 DraftKings FFWC Finalist

    • 2018 DraftKings FBWC Finalist

    To be clear, I’m not terribly certain of what I’m about to say. But I believe the buyin for the online round would simply be 10,333.33, so everything should in theory net out in the end. Idk what the payout structure looks like, but let’s say you qualify but get last in the online round, and don’t qualify for the live event, and let’s say last paid $2k. Then the net effect would be you winning $1,985, as the $10,333.33 you “cashed for” in the Q, would be the buyin amount for the next round. Hence you would have a 10,318.33 profit in the Q, netted against a $8,333.33 loss in the event itself leaving you with a $1985 net profit. As I said earlier though, I’m not entirely sure.

  • ScuddyStud

    Thanks for the explanation, that makes complete sense. I hadn’t thought of the $10K as being an entry fee for the Online Round. That would all work out in the end as long as DK shows each of the 30 people in the Online Round as having paid the $10K as an entry fee.

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