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[QUOTE="roundcat, post: 902854, member: 7011"]
Since I enter a lot of contests/sweepstakes I know a fair bit about winning prizes.

$650 is actually a pretty reasonable value to be assigned to the prize if the stay is at a nice hotel.  They should send you a tax form 1099 for any prize valued at over $600.  It's taxed at the same rate as regular income and reported at the end of the year on your tax return.  If you think the value is less you can keep receipts and adjust the amount on your return.

If you don't accept the prize, you don't have to pay taxes on it.  If you do accept the prize and don't use it, you still have to pay taxes.  It sounds like you may have verbally accepted it after winning the bounty.  Did they send you paperwork to fill out?  If they did and you don't want the prize, don't fill it out and tell them you're declining it.

Do you have a friend who'd be interested in using the stay and playing in the blackjack tournament?  They might be willing to pay the $125 or so in taxes.  (They would pay you, and you'd pay the IRS.)

Sorry they didn't give you the details up front.  :(  It's not uncommon for prizes with some kind of event involved to be restricted to certain dates.
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