Trump punishes gamblers in tax bill

Yikes, gamblers just got hosed by the new tax bill. 

From PFT:

Professional gamblers may need to find a new profession.

The final version of the big, beautiful bill that will be signed into law by President Trump on Friday contains the tax provision that limits deductions for losses to 90 percent. It has caused widespread consternation among those who make their living by gambling. And by those who make their living by getting people to gamble.

Representative Dina Titus (D-Nevada), whose district includes Las Vegas, believes that the new law will nudge people away from legal gambling to illegal operations.

“It pushes people into the black market if they don’t do regulated gaming because they have a tax disadvantage,” Titus said on News Nation. “The black market doesn’t pay taxes, isn’t regulated, doesn’t help with problem gaming, so it’s bad for the industry, as well as for the player.”

Titus may be introducing legislation to change the law back to the way it was.

I’m not terribly surprised given how the Bush-era GOP punished us with the passage of the UIGEA in 2006, as a favor to brick and mortar donors Sheldon Adelson and Steve Wynn. Still, it’s disappointing.

Sigh. 

More from WaPo:

https://www.washingtonpost.com/sports/2025/07/04/tax-bill-gambling-deductions-provision/

Another exchange, Sporttrade, is regulated like a sportsbook but is seeking status akin to Kalshi’s. Sporttrade CEO Alex Kane called requiring some gamblers to pay taxes on nonexistent income “asinine,” adding that the new rule also “cripples” sharps’ ability to earn a living. 

That sucks. 

 But more importantly we can all regale in the very obvious  MASSIVE PLUNGE in all consumer prices - especially groceries -  

... just like the RACIST/CONVICTED FELON **promised**  ....right?!?!

President Trump  proves that RACIST/CONVICTED FELONS make the best Presidents..

The final version of the big, beautiful bill that will be signed into law by President Trump on Friday contains the tax provision that limits deductions for losses to 90 percent.

The 10% paid for juice on a loss is not deductible..

Just to be clear, that has absolutely nothing to do with the GOP’s decision to punish law-abiding gamblers. This was totally unnecessary. 

It will also likely decrease tax revenues by forcing sharps out of the country.

Yay, another tax increase by the felon! 

@Sidehatch

Convicted felon...............

magas   

MAGA'S RULE............

MAGA-morons voted for it, so now it's here.

If, MAGA's are such morons ..how come the DEMs can't beat them ?

from what I have read recently, Vegas is hurting big time!!  Wynn is the only property winning

but it's not because of any tax bill, it's from the bullshit corporations looking at the bottom line

it's not a good thing when an east coast gambler books in frantic city over Vegas

maga morons who voted for it    

maga morons who voted for it    

Opposed to Kamala Harris morons that voted for her.....

@KellyM_1964

Absolutely!  The worst kind of republicans.

I have several republican associates/colleagues/friends but they are not MAGA,  thankfully!

Like most policies of the current regime, the ball-washers cannot identify why this, or most of the other giveaways, are good policy. Why is punishing gamblers, aka YOU, good policy? 

Durr, MAGA good. Red good, blue bad.

And when it's a really inconvenient topic, it's time to change the subject and move the goalposts! 

Just remember, this provision is proof that Team Trump is against the interests of any American using this website.

Mike Crapo (R-ID) comes from a state with limited gambling forms & he's the person who introduced this last minute amendment to the Big Barf Bill. His last name describes him perfectly.

But now 2 Reps. Tina Dina Titus (D-NV) & Ro Khanna (D-CA) have introduced legislation to restore the ability of gamblers to deduct 100% of their gambling losses against their winnings.  It's called the Fair Bet Act & that's all we want.

Let's see if this goes anywhere or not.

@Midnight1

 I wish it would......but it won't.

DOA.

Because republicans will never, *EVER* pass a bill proposed by Democrats, no matter what.

Dems could introduce a bill declaring REPUBLICANS should be awarded the WH and both chambers in Congress for the next 50 years....and as STUPID as it sounds, the dumbass republicans would actually vote AGAINST  that  for no other reason than the bill was proposed by Democrats....

Thank you Midnight and Fubah. Both are correct. I wish we didn’t have professional trolls who hate us in power, but unfortunately that is the case