New 2026 gambling tax limits loss deductions to 90%, raising taxes for bettors. Learn how Congress is responding and what ...

If you’re into gambling or planning to hit the World Series of Poker (WSOP), there’s something critical you need to know ...

If you’ve been waiting for the One Big Beautiful Bill tax changes for gambling losses to be reverted, you’re not alone. As Congress gets back to work, a big issue is on the table for gamblers and the ...

The recent NBA betting scandal that led to more than 30 arrests has spurred renewed regulatory and fan focus on illegal gambling and professional sports. Financial advisors, meanwhile, say the spike ...

The 90% limit on deductibility of gambling losses is scheduled to take effect with the first tax year beginning January 1, 2026. Despite the proximity to the law being in effect, there is a late‑stage ...

Legislation to restore a key gambling loss tax deduction still awaits further action as the U.S. House of Representatives returns to normal business. Congress has yet to act on legislation that would ...

It's a decent bet: Professional gamblers will become the first taxpayers ever to pay Uncle Sam for unrealized or "phantom" income in 2026. Processing Content That's because, barring changes to the One ...

Gambling can be thrilling, but it can also lead to huge losses. Throughout history, there have been many stories of people who lost a lot of money due to their gambling habits. This article looks at ...

Days after President Donald Trump said he'd “think about” eliminating taxes on gambling winnings, a Nevada Representative implored a House committee to restore 100% deduction on losses. Rep. Dina ...

You can’t watch a sporting event, listen to a podcast, or open social media without being served some sort of advertising for betting, whether it’s the now widely proliferated sports betting apps like ...