The Real Cost of Winning Beast Games: Why $10M Isn’t Really $10M

Winning $10 million sounds like the dream, right? Visions of private islands, supercars, and never having to check your bank balance again. But if you’ve been following Beast Games—a reality show promising a jaw-dropping $10 million prize—you might be feeling a little, well, surprised. Turns out, the winner, Jeffrey Randall Allen, isn’t walking away with nearly as much as he thought, and fans are divided about it.

So what happened? And more importantly, what can this teach you about money? Let’s break it down.

The fine print is finer than you think

Spoiler alert: not all millions are created equal. While game show winnings might seem straightforward, and the Beast Games grand prize may be a life-changing fortune, the winner will still be taking home significantly less than that eye-popping $10 million. Between taxes, payouts over time, and other deductions, the real number shrinks fast.

The biggest shocker? The game show taxes on winnings take a massive bite out of the prize. After 37% federal taxes and 13.3% California state taxes (the tax rate for game show winnings follows the same rules as salaried income), the $10 million becomes $5.03 million. Yup, it basically gets cut in half. The game show tax rate alone reduces the prize by nearly half. 

Of course, when you figure the prize was originally meant to be $5 million and then doubled to $10 million—making it the biggest prize in reality TV history—it’s still not exactly something we’d be disappointed with.

What this means for you (even if you’re not on a reality show)

Sure, you’re probably not winning a $10M reality show anytime soon—but the same financial obligations apply to everyday money moves. Here’s what you can learn from this prize payout shock:

Big money usually comes with big strings attached 

Lottery jackpots, game show winnings, even job salaries—what looks huge at first glance isn’t what actually lands in your account. Always factor in taxes, deductions, and hidden fees before mentally spending that windfall.

A lump sum might be worth fighting for 

Some big winnings, like lotteries, give you the option to get your money in installments, which often come out to higher than the lump-sum amount after taxes. Getting your money in small chunks over time can be good for long-term security, but sometimes a lump sum, invested wisely, could grow faster than a trickle of payments. This is why lottery winners often take the full payout upfront (even if it’s initially less overall).

Taxes will always come for you 

Even if you’re not dealing with millions, knowing how much of your money is truly yours is a key financial skill. Whether it’s salary negotiations, bonuses, or side hustles, learn as much as you can about taxes and their implications before making big financial plans.

The Internet will always be mad 

Let’s be real—fans love an outrage, and this kind of “fine print trickery” fuels the fire. But this happens everywhere in money. Advertised salaries? Often inflated. “Zero interest” financing? Usually comes with a catch. If a deal seems too good to be true, assume there’s a footnote waiting to ruin it.

A windfall is still a win if you plan for it 

At the end of the day, getting an extra $500K per year, even after taxes, is still more than most people start with. But more money doesn’t automatically mean fewer problems. Without a plan, unexpected expenses, lifestyle creep, and poor financial choices can eat away at even the biggest payout.

That’s why working with a financial planner or advisor to figure out your budget, expenses, and long-term living costs after taxes is crucial. Whether it’s a reality show jackpot, a raise, or an unexpected bonus, a little planning can keep your windfall from turning into a financial headache.

Speaking of winnings, the MoneyLion Beast Games Giveaway* is still underway! The first prize has been announced, 1,000 winners just won $1,000 dollars. There are still seven prizes left to go and over $3 million on the line! Don’t forget to enter.

So, Is Jeff Allen Still a Millionaire?

Technically, yes. But not the kind that can vanish to a private island and never work again. And that’s the real takeaway: wealth isn’t just about what you make—it’s about what you keep.

Want to make the most of your money? Understanding how taxes, fees, and payouts work can mean the difference between being rich on paper and actually living the life you want. No reality show required.

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