US EditionHow Trump’s ‘Big, Beautiful Bill’ Could Impact Gamblers
UNITED STATES, JUL 3 – The proposed tax changes would raise $1.1 billion over eight years by capping gambling loss deductions at 90% and taxing winnings, drawing opposition from gamblers and Nevada lawmakers.
- President Donald Trump's tax-and-spending package, dubbed the "Big, Beautiful Bill," is awaiting a final House vote and includes provisions affecting gamblers and remittances.
- The Senate-backed bill reduced the remittance tax to 1 percent, down from an earlier 5 percent proposal, applying to transfers after December 31, 2025, and covering various US residents including visa holders.
- The bill caps gambling loss deductions at 90 percent under Section 70114, limiting deductions to the amount of gambling winnings, which concerns both professional and amateur gamblers across Nevada’s casino markets.
- Phil Galfond warned that the proposed amendment could effectively halt professional gambling in the United States, while Jonas Lopas noted that it imposes severe disadvantages on frequent tournament players. Additionally, U.S. Representative Dina Titus’s post opposing the bill garnered over one million views on X.
- If enacted as is, the bill could reduce gambling profitability, drive players to offshore sites, lower betting volumes, and significantly impact remittance flows, especially for Indian-American communities.
15 Articles
15 Articles
'Big, beautiful bill' could spell trouble for gamblers in Las Vegas
It's just a few lines, inserted deep into the Republican-sponsored tax and spending bill passed narrowly by the House on Thursday.But the impact here in Nevada could be big.Under Section 70114 of the so-called Big, Beautiful Bill, tax deductions resulting from "losses from wagering transactions" will be reduced to 90%, and are only allowed to the extent of gains from gambling wins.VIDEO: Steve Sebelius talks to participant in World Series Poker …
Gamblers seethe over Trump's budget: 'Going to eat into a lot of profit'
A surprising new coalition is speaking out against President Donald Trump's budget: gamblers. Both amateur and professional gamblers are opposing the bill because of a provision that would tax their winnings and limit the amount of losses they can deduct, Bloomberg reported Wednesday. The 900-page b...
Minnesota progressives sound alarm over Trump tax bill
Even as U.S. House struggled to wrangle the votes to pass President Donald Trump’s major domestic policy initiative Wednesday, Minnesota progressives, food shelves and health care advocates sounded the alarm over the “big, beautiful bill” that would deliver steep cuts…
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