How much does Squid Game winner take after taxes?

❘ Published: 2023-12-07T05:00:01

The piggy bank in Squid Game: The Challenge

Netflix

Now that the Squid Game: The Challenge finale has arrived on Netflix, you might be wondering: how much does the winner take home after taxes? Here’s what we know.

After three weeks, ten episodes, and plenty of highs and lows, Squid Game: The Challenge has reached its epic conclusion.

Not only did it start off with the most contestants in Netflix’s reality TV history to match the 456 players of the original Squid Game, but it also features the genre’s largest ever cash prize.

One lucky player is taking home an eye-watering $4.56 million – kind of. While it’s a life-changing sum of money, how much of it will have to go towards taxes? Warning: Major spoilers ahead!

How much does Squid Game winner take after taxes?

Since Player 278, aka Mai Whelan, won Squid Game: The Challenge and she’s a US citizen, she will be subject to tax on the $4.56 million. If it’s paid in a lump sum, this will involve a reported federal income tax rate of 37%, meaning she’d take home just over $2.87 million.

Although the Netflix show was filmed in the UK, where prize money is not chargeable to tax, whoever wins must pay tax charges imposed by their home country. In the US, the IRS considers game show winnings of $600 and up to be part of a person’s taxable income.

Lower amounts equal lower taxes, but since $4.56 million is a lot of cash, this would likely place Mai’s winnings in the highest bracket of 37%. Of course, this detail has been the butt of several jokes online – case in point:

As stated by Marca, this “is still a life-changing sum, but comes with a very significant deduction. In the end, the Internal Revenue Service was equally as hyped about her winning as she was.”

Squid Game: The Challenge is available to stream on Netflix now. You can check out more of our coverage below: