{"id":12782,"date":"2025-07-16T13:42:18","date_gmt":"2025-07-16T13:42:18","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/?post_type=america&#038;p=12782"},"modified":"2025-07-16T13:42:18","modified_gmt":"2025-07-16T13:42:18","slug":"trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads","status":"publish","type":"america","link":"https:\/\/www.mundovideo.com.co\/en\/america\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads\/","title":{"rendered":"Trump\u2019s \u201cphantom winnings\u201d cap leaves gamblers scratching their heads"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The tax tweak that caps gambling-loss deductions at <strong>90% of winnings<\/strong> is earning headlines\u2014and raising eyebrows\u2014after being quietly slipped into Trump\u2019s massive \u201cOne Big Beautiful Bill.\u201d Starting <strong>January 1, 2026<\/strong>, this change means gamblers could pay taxes on money they <em>never<\/em> earned, a move critics are calling a <strong>\u201cphantom winnings\u201d trap<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under the prior rule, if you won $100,000 and lost the same, your tax bill landed at zero. Now? You only get to deduct $90,000 in losses, so the IRS taxes you on the remaining $10,000\u2014income that doesn\u2019t actually exist.<\/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\">Lawmakers and industry voices are already reacting. A group in Congress is working to repeal the cap, calling it a penalty on those who report their gambling activity transparently. Casino executives have also expressed concern that this disincentivizes accurate tax filings and punishes high-volume professional players.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.mundovideo.com.co\/en\/america\/uncle-sam-wants-a-cut-new-gambling-tax-sparks-industry-backlash\/\" target=\"_blank\" rel=\"noreferrer noopener\">Uncle Sam Wants a Cut: New Gambling Tax Sparks Industry Backlash<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads2-1024x682.jpg\" alt=\"\" class=\"wp-image-12784\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads2-1024x682.jpg 1024w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads2-300x200.jpg 300w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads2-768x512.jpg 768w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads2.jpg 1298w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Veteran gamblers warn this could be the final straw. One pro called it \u201cthe end of professional gambling in the U.S.\u201d Others argue that most of the sports betting industry runs on tight margins, and this rule breaks the math entirely.<\/p>\n\n\n\n<p class=\"line-height1 has-large-font-size wp-block-paragraph\">Tax analysts estimate the cap could generate around <strong>$1.1 billion<\/strong> in revenue over the next decade\u2014but many see it as a stealth tax that unfairly targets a legal pastime.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With over <strong>$10.9 billion<\/strong> wagered in sports betting in 2024 and <strong>$13.7 billion<\/strong> projected in 2025, the stakes are high. Now, players are left wondering whether the odds are stacked not just at the table\u2014but on their tax return.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With over $10.9 billion wagered in sports betting in 2024 and $13.7 billion projected in 2025, the stakes are high. Now, players are left wondering whether the odds are stacked not just at the table\u2014but on their tax return.<\/p>\n","protected":false},"author":1,"featured_media":12785,"menu_order":21,"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":[1458,105,1218,4792],"class_list":["post-12782","america","type-america","status-publish","format-standard","has-post-thumbnail","tag-america","tag-sports-betting","tag-tax","tag-trump","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trump\u2019s \u201cphantom winnings\u201d cap leaves gamblers scratching their heads - Mundo Video Entertainment | Casino News in Latin America and the World<\/title>\n<meta name=\"description\" content=\"With over $10.9 billion wagered in sports betting in 2024 and $13.7 billion projected in 2025, the stakes are high. Now, players are left wondering whether the odds are stacked not just at the table\u2014but on their tax return.\" \/>\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\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump\u2019s \u201cphantom winnings\u201d cap leaves gamblers scratching their heads - Mundo Video Entertainment | Casino News in Latin America and the World\" \/>\n<meta property=\"og:description\" content=\"With over $10.9 billion wagered in sports betting in 2024 and $13.7 billion projected in 2025, the stakes are high. Now, players are left wondering whether the odds are stacked not just at the table\u2014but on their tax return.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.mundovideo.com.co\/en\/america\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads\/\" \/>\n<meta property=\"og:site_name\" content=\"Mundo Video Entertainment | Casino News in Latin America and the World\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.mundovideo.com.co\/en\/america\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads\/\",\"url\":\"https:\/\/www.mundovideo.com.co\/en\/america\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads\/\",\"name\":\"Trump\u2019s \u201cphantom winnings\u201d cap leaves gamblers scratching their heads - Mundo Video Entertainment | Casino News in Latin America and the World\",\"isPartOf\":{\"@id\":\"https:\/\/www.mundovideo.com.co\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.mundovideo.com.co\/en\/america\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.mundovideo.com.co\/en\/america\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/07\/trumps-phantom-winnings-cap-leaves-gamblers-scratching-their-heads.jpg\",\"datePublished\":\"2025-07-16T13:42:18+00:00\",\"description\":\"With over $10.9 billion wagered in sports betting in 2024 and $13.7 billion projected in 2025, the stakes are high. 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