The Big Beautiful Bill may not be so Beautiful to Gamblers

[JDS]

Fees moving money back and forth far outweigh the taxes, not to mention you have to pay taxes when you sell crypto that you win.

I pm’ed you some info & I will not debate this with you. Do what you want with that info .

 

[Tanko]

I meant to do the math to show how this bill will impact win% requirements but, I didn't have to. A couple of guys at SBR (alecmatt5 & pavyracer) did the math already. Pavy gave a great example with assumed data.

Trump new tax law - Sportsbook Review Forum

Hi, I don't make much money betting on sports but I do pay taxes on it and make enough to help provide for myself. From what I understand it used to be that you had to win at 52.38% to break out even at -110 odds. Under Trump's new tax law you can only deduct 90% of your losses against your...

www.sportsbookreview.com

The win % to cover the additional requirments on taxes and breakeven goes up to 53.2% vs the 52.4% we currently need to meet.

Assumptions:
24% tax bracket
-110 odds
You file with itemized deductions vs standard deductions.

 

[BigJay]

https://www.cnn.com/2025/07/09/politics/gambling-tax-trump-agenda-bill

 

[jjgold]

So silly meaning gamblers
Tax the hell out of them

 

[Tanko]

Republicans now regret this piece of the bill and are introducing legislation to change it....
Doubt it goes anywhere but....


Republican backs push to repeal part of Trump bill days after voting for it

 

[Tanko]

It just gets better and better...
Most republicans didn't even know what was in the bill they voted for. JFC. These people should be kicked out of office for blindly voting for s#it that they have no clue about.

GOP Senators Had No Idea They Voted For Controversial Gambling Tax

How the sausage is made in Washington: In the dark and behind closed doors.

www.yahoo.com

What if someone snuck in the language, "All Representatives and Senators must be castrated if they are elected to a 2nd term in office"? Would they abide by the law they voted for?

 

[stormtrooper8]

What a terrible piece of legislation lol

How do people support this shit?