IRS $600 transaction reporting and annual limits?

Destry123
Contributor
Contributor
I'm a sports bettor using FanDuel in Virginia. I understand that if I take out winning bets in increments under $600 there will be no IRS reporting. But I'm concerned there may be an annual withdrawal total that would get reported to the IRS to trigger taxation. Can someone help? As long as I take out winnings in increments under $600 will that avoid all IRS reporting?
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