US EditionGamblers Say ‘Big, Beautiful Bill’ May Force Them to Fold
UNITED STATES, JUL 2 – The new tax rule will raise $1.1 billion by limiting gambling loss deductions to 90%, which may cause some gamblers to owe taxes despite no net profit, starting in 2026.
- The U.S. Senate passed the Big Beautiful Bill on July 3, 2025, by a narrow 51-to-50 vote, with the legislation now returning to the House for approval.
- The bill includes an amendment that limits gamblers' tax deductions for losses to 90%, a change negotiated amid broader spending priorities reflecting President Trump's agenda.
- This amendment could increase tax liabilities for professional and amateur gamblers, potentially forcing many to reconsider gambling as a livelihood while also risking economic impacts in gaming-dependent regions like Las Vegas.
- Professional poker player Doug Polk expressed that the proposed legislation poses a serious threat to the gambling sector, potentially jeopardizing the livelihoods of many professional players, while Phil Galfond described the bill as deeply problematic, reflecting widespread industry apprehension.
- If enacted, the bill would take effect in 2026 and suggests significant shifts in gambling taxation that may drive players toward unregulated operators, while also impacting tax deductions and creating broader economic repercussions.
20 Articles
20 Articles
Bettors are worried Trump's 'big, beautiful bill' could cause professional gambling in the U.S. to fold
Gamblers pointed out on social media that by limiting the tax deduction to 90% of losses, bettors could actually owe taxes in years when they netted losses on their bets.
Gamblers say ‘Big, Beautiful Bill’ may force them to fold
Professional gamblers say President Donald Trump’s “Big, Beautiful Bill” is a bad bet. Deep inside the fiscal measure adopted Thursday, July 3, is a provision that limits income-tax write-offs for gambling losses. “Yikes,” professional poker player Phil Galford wrote on X. “Senate amendment to the Big Beautiful Bill=you get taxes on more than you earned from gambling, even if you netted $0 (or less!).” “Poker as we know it is under attack in Ame…
Trump’s “Big Beautiful Bill” Could Help Break America’s Gambling Addiction, Making Media, Democrats, Upset
The corporate media is in full panic over a single provision in President Trump’s new tax reform bill: a small change with the potential to weaken not just America’s gambling addiction, but the seedy networks that profit from it.
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