(WTHR) – "Jeopardy!" champion and professional sports bettor James Holzhauer lost in his 33rd episode of the TV game show, which aired on Monday, finishing $58,484 short of the all-time winnings record.
Holzhauer, 34, made $2,462,216 in those 33 appearances, including the $2,000 prize he received for finishing second in his last show on Monday.
Only one “Jeopardy” champion, Ken Jennings, has made more money ($2,520,700) and had more appearances (74).
But, according to CNBC, the IRS is also winning big.
All winnings on game shows are considered ordinary income, taxed up to 37 percent by the IRS. And most states have state income tax, too.
Even though Holzhauer is a resident of Nevada, the game show took place in California, which means he must pay taxes in that state.
Combined, federal and California state taxes will put Holzhauer’s net winnings at $1.29 million — a 47.6 percent cut, sports and betting website The Action Network reported.
Even though Holzhauer didn't beat Jennings’ record total winnings back in 2004, he does hold the all-time record for the most money earned in a single Jeopardy episode at $131,127 and also owns the record for the top four money-winning episodes.
"Jeopardy!" airs weeknights at 7:30 p.m. on Channel 13.