By tracking your wins, you can also see what methods of sweeping work best for you. Here is some of the information you might want to include when you track sweepstakes prizes. You can pick and choose which categories are most important to you.
1. Date the Prize was WonThe first column in my prize tracker spreadsheet is the date the prize was won. Personally, I like to tally up my wins for each month, and report them in the Monthly Winners' Roundup, and that's easier to do if I track the dates of my prize wins.
2. Sweepstakes Sponsor and Fulfillment CompanyNext, I make note of the sweepstakes sponsor and fulfillment company on my sweepstakes tracker spreadsheet, assuming I know them both. For example, the sponsor of one of my recent wins was Merry Maids, and ePrize was the fulfillment company. This helps me keep track of which companies are lucky for me, and which never seem to work.
3. What Prize You WonNext, I describe the prize on my sweepstakes tracker spreadsheet. This is always the most fun part for me -- making note of a fun prize and anticipating how great it will be to receive it!
4. ARV of the PrizeThe ARV of a sweepstakes prize is the sponsor's estimate of its value. This is an important value to track, especially since it can affect your taxes.
5. FMV of the PrizeFMV stands for Fair Market Value, and it's this amount, and not the ARV, that you need to pay taxes on. Sometimes the ARV and FMV will be the same, but at other times you can find proof that the prize is selling for less when you receive it. Then you could reduce your taxes by Disputing the ARV on Your Taxes.
6. Entry Frequency of the SweepstakeEntry frequency is something I like to include on my sweepstakes tracking spreadsheet because I like to see which entry methods are the most successful. Because I track the sweepstakes frequency, I've noticed that I tend to do better with daily sweepstakes than one-entry. This is one example of how tracking your prizes can help you to win even more!
7. Type of SweepstakeI like to keep a record of which types of sweepstakes I win, so that I can see which entry methods work best for me. Some common types of sweepstakes you can track are:
- Online sweepstakes
- Mail-in sweepstakes
- Contest (writing contest, photo or video contest, recipe contest, etc.)
- Instant win sweepstakes
- Trivia contest
- Social media sweepstakes