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Why an Obscure Provision in Trump’s Big Agenda Bill Has Gamblers Crying Foul | News Channel 3-12
CLARK COUNTY, NEVADA, JUL 7 – The FAIR Bet Act aims to reverse a tax provision reducing gambling loss deductions from 100% to 90%, which threatens professional gamblers' livelihoods and could raise $1 billion in federal revenue.
- Congress passed a budget bill signed by President Trump that reduces gamblers' deductible losses from 100% to 90%, effective January 1, 2026.
- Senate Republicans inserted this provision late without House consent, and lawmakers including Rep. Dina Titus only learned of it upon receiving the bill.
- The change unsettles professional gamblers and gaming industry groups, who warn it could force some to pay taxes on net losses and push gamblers toward unregulated platforms.
- Rep. Titus introduced the FAIR BET Act with Rep. Ro Khanna to restore full deductions, stating it would prevent taxes on money gamblers didn't earn and called the bill 'common-sense legislation.'
- The tax change risks harming Nevada’s gaming economy, prompting efforts by Sen. Catherine Cortez Masto to seek unanimous Senate consent to fix the deduction and protect the industry.
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41 Articles
Why an obscure provision in Trump’s big agenda bill has gamblers crying foul | News Channel 3-12
By Jeremy Herb, CNN (CNN) — Professional poker players and sports bettors, and a handful of members of Congress, are demanding a change to the massive tax and spending bill President Donald Trump signed into law last week, arguing that a provision tucked into the measure late in the legislative process unfairly taxes gamblers on “phantom” winnings. The new legislation changed the way gamblers deduct their losses on their taxes. Currently, gambli…
Amid uproar, Titus seeks fix to Trump’s ‘big, beautiful bill’ gambling deduction change - The Nevada Independent
I was hoping for a quiet July Fourth weekend. But chaos rained down as the gaming community lost its collective mind over a legislative change on how gamblers are taxed on wins and losses. At least I had a nice ocean view. Gamblers and gaming industry observers said President Donald Trump’s so-called "big, beautiful bill" wasn’t very pretty. An amendment tucked into the more than 1,000-page budget legislation by Senate Finance Committee Chairman…
Watauga Democrat
Bill would fully restore tax deductions for betting losses
(The Center Square) — U.S. Rep. Dina Titus, D-Nevada, has introduced a bill to fully restore a tax deduction for bettors that was reduced in the federal budget bill.
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