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When people attend game shows, they often dream of winning substantial prizes or cash. Although winning such prizes is exhilarating, many are unaware that winners are required to pay taxes on their winnings before they can claim them. For cash prizes, the taxes are deducted upfront from the amount won.
Recently, fans have scrutinized some game shows, feeling that the prizes offered are not sufficient for the level of competition involved.
Fans have particularly criticized Jeopardy! and Family Feud for the prize amounts they offer. While game shows aren’t equivalent to full-time jobs, many viewers believe that the shows should offer more substantial rewards to winners. This concern is particularly pertinent given the considerable revenues these shows generate compared to their relatively modest prize payouts.
Family Feud has drawn particular ire from fans. The show awards $20,000 to the victorious family, which consists of five members. Once taxes are deducted, each participant takes home roughly $2,500 or less.
Many argue that while this sum might seem significant to some, it’s insufficient for the level of commitment and effort required from the contestants. Of note, Steve Harvey, the host of Family Feud, reportedly earns $10 million annually for his role.
Jeopardy! typically offers more substantial prize money, with no ceiling on potential earnings for successful contestants. Winnings depend on performance in a single game, where amounts range from $200 to $1,000 and $400 to $2,000 per clue. Despite an increase in 2001, it’s been over two decades since prize values were adjusted, a period marked by significant inflation.
Fans voiced their opinions on Reddit regarding these show payouts:
On the bright side, Jeopardy! did recently increase its second and third place consolation prizes by $1,000 each.
Similarly, fans of reality TV are suggesting an increase in the Survivor prize fund. Since its inception 24 years ago, the winner of Survivor has consistently been awarded $1 million (pre-tax). Given today’s inflationary pressures, the value of $1 million now is akin to $1.82 million from 24 years ago, effectively reducing the relative value of the prize.
Fans have expressed that given the arduous challenges and risks contestants take for viewer entertainment, an increase in the prize would be reasonable. One viewer even commented, “Honestly, I feel like CBS should also just go ahead and cover the taxes too” (via U.S. Sun).
What are your thoughts? Do you believe game show prize funds should be increased? What do you think contestants should receive on shows like Jeopardy!, Family Feud, and Survivor? Share your opinions in the comments below.
Source: TV Shows Ace