{"id":12630,"date":"2025-07-08T13:25:21","date_gmt":"2025-07-08T13:25:21","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/?post_type=america&#038;p=12630"},"modified":"2025-07-08T13:25:21","modified_gmt":"2025-07-08T13:25:21","slug":"uncle-sam-wants-a-cut-new-gambling-tax-sparks-industry-backlash","status":"publish","type":"america","link":"https:\/\/www.mundovideo.com.co\/en\/america\/uncle-sam-wants-a-cut-new-gambling-tax-sparks-industry-backlash\/","title":{"rendered":"Uncle Sam Wants a Cut: New Gambling Tax Sparks Industry Backlash"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The fireworks this July 4th weren\u2019t just in the sky\u2014they exploded across the U.S. gambling world after Congress advanced the so-called <em>\u201cOne Big Beautiful Bill,\u201d <\/em>a sweeping tax reform with a not-so-beautiful twist: starting in 2026, gamblers can only deduct up to 90% of their losses. That means even those who break even at the tables may find themselves paying taxes on phantom winnings.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"880\" height=\"495\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/uncle-sam-wants-a-cut-new-gambling-tax-sparks-industry-backlash2.jpg\" alt=\"\" class=\"wp-image-12633\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/uncle-sam-wants-a-cut-new-gambling-tax-sparks-industry-backlash2.jpg 880w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/uncle-sam-wants-a-cut-new-gambling-tax-sparks-industry-backlash2-300x169.jpg 300w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/uncle-sam-wants-a-cut-new-gambling-tax-sparks-industry-backlash2-768x432.jpg 768w\" sizes=\"auto, (max-width: 880px) 100vw, 880px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Gambling professionals and analysts are sounding the alarm. A gambler who wins $100,000 and loses $100,000 would now owe taxes on $10,000 in theoretical net income. <em>&#8220;It will kill professional gambling,&#8221;<\/em> warned Doug Polk, a renowned poker player. Sports betting analyst Rufus Peabody called it a <em>&#8220;devastating misunderstanding of how gambling works.&#8221;<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.mundovideo.com.co\/landing\/multigame-link\/\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"340\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl-1.png\" alt=\"\" class=\"wp-image-9725\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl-1.png 1000w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl-1-300x102.png 300w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl-1-768x261.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The measure, projected to generate $1.1 billion in tax revenue, is part of a broader attempt to offset federal spending. But critics argue that it unfairly penalizes an industry already under intense regulation and scrutiny. The American Gaming Association (AGA) has expressed conditional support for the bill but opposes this provision, warning it could push high-volume players underground.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"648\" height=\"365\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/uncle-sam-wants-a-cut-new-gambling-tax-sparks-industry-backlash3.jpg\" alt=\"\" class=\"wp-image-12632\" style=\"width:840px;height:auto\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/uncle-sam-wants-a-cut-new-gambling-tax-sparks-industry-backlash3.jpg 648w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/uncle-sam-wants-a-cut-new-gambling-tax-sparks-industry-backlash3-300x169.jpg 300w\" sizes=\"auto, (max-width: 648px) 100vw, 648px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Even lawmakers in gambling states are pushing back. Congresswoman Dina Titus of Nevada has introduced a bill to restore full deductibility of losses, noting that professional gamblers are being lumped in with casual hobbyists. \u201cThis is not about ducking taxes,\u201d she said. \u201cIt\u2019s about fairness and economic survival.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Major casino operators like MGM and Caesars remain mostly quiet, as the tax primarily targets individual players. Still, insiders warn it could reduce VIP traffic and influence tournament economics. As analysts at Mundo Video point out, the risk isn\u2019t limited to Las Vegas. A chilling effect on professional gambling in the U.S. could ripple across online platforms, global odds markets, and cross-border operator strategies. For an industry reliant on liquidity and volume, taxing losing bets could prove catastrophic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The fireworks this July 4th weren\u2019t just in the sky\u2014they exploded across the U.S. gambling world after Congress advanced the so-called \u201cOne Big Beautiful Bill,\u201d a sweeping tax reform with a not-so-beautiful twist: starting in 2026, gamblers can only deduct up to 90% of their losses. That means even those who break even at the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12634,"menu_order":32,"comment_status":"closed","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[1458,105,1218],"class_list":["post-12630","america","type-america","status-publish","format-standard","has-post-thumbnail","tag-america","tag-sports-betting","tag-tax","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Uncle Sam Wants a Cut: New Gambling Tax Sparks Industry Backlash - Mundo Video Entertainment | Casino News in Latin America and the World<\/title>\n<meta name=\"description\" content=\"The fireworks this July 4th weren\u2019t just in the sky\u2014they exploded across the U.S. gambling world after Congress advanced the so-called \u201cOne Big Beautiful Bill,\u201d a sweeping tax reform with a not-so-beautiful twist: starting in 2026, gamblers can only deduct up to 90% of their losses.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mundovideo.com.co\/en\/america\/uncle-sam-wants-a-cut-new-gambling-tax-sparks-industry-backlash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uncle Sam Wants a Cut: New Gambling Tax Sparks Industry Backlash - 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