For their part, lawmakers have no idea how it got there. Under the old law, gamblers could offset their legal gambling winnings with their losses. In other words, if a gambler won $10,000 during the ...

The law is creating backlash from the gambling industry and bettors who could owe taxes even if they break even.

President Donald Trump's new spending bill could cause gamblers to lose even more thanks to new tax practices starting in 2026.

A buried provision in Trump's "Big, Beautiful Bill" limits gambling loss deductions to 90% while taxing 100% of winnings.

The change does not go as far as gamblers wanted, but it does provide much needed relief to a major pain point.

The change does not go as far as gamblers wanted, but it does provide much needed relief to a major pain point.

Man, I'm in trouble this week. I went 1-for-5 in the NFL. I went 0-5 in college football. I went 0-6 on Major League Baseball ...

A small change in the “One, Big, Beautiful Bill Act” could soon mean a big deal for high-stakes gamblers, according to tax ...

The change does not go as far as gamblers wanted, but it does provide much needed relief to a major pain point.

Sen. Catherine Cortez Masto sought unanimous consent for the FAIR BET Act, but Sen. Todd Young objected to the bill.

The Nevada Congressional delegation and professional gamblers have taken to social media and the halls of Congress to sound ...

The full deduction is limited to individuals with taxable income of less than $75,000 ($150,000 for joint filers). It shrinks ...