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The Big Beautiful Bill may not be so Beautiful to Gamblers

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Tanko

Tanko

Joined
Oct 27, 2021
Messages
53,335
There is a section of the bill that would limit gamblers to only being allowed to offset winnings with 90% of losses.

> You bet $100k and win.
> You get $100k and lose.
>>> You still owe taxes on $10k.

In the past everyone knows, losses could offset winning for tax purposes. With this bill only 90% of your losses can be used.

WTH?

Let's hope that section of the bill gets killed.

 
  • Angry
Reactions: JDS

JDS

JDS

Joined
Dec 11, 2021
Messages
53,636
If this Bill gets past, it should help the price of BTC in the process for obvious reasons.
 

BigJay

BigJay

Joined
Oct 28, 2021
Messages
19,855
There is a section of the bill that would limit gamblers to only being allowed to offset winnings with 90% of losses.

> You bet $100k and win.
> You get $100k and lose.
>>> You still owe taxes on $10k.

In the past everyone knows, losses could offset winning for tax purposes. With this bill only 90% of your losses can be used.

WTH?

Let's hope that section of the bill gets killed.

Looks like the GOP hardliners are stalling the bill

Reminds me of Netflix’s House of Cards, which I’m watching for the second time. Been quite awhile since I watched it

 

JDS

JDS

Joined
Dec 11, 2021
Messages
53,636
@KVB is fuckin’ pissed right now i know it wherever you are.
 

jamesy2422

jamesy2422

Joined
Jun 1, 2025
Messages
492
i went back offshore for a lot of my gambling cause of the bonuses. some of the lines i can live with cause i can get paid in money to my bank account quickly. but not getting bonuses irks me when bonuses are out there. i just deposited $600 in bookmaker and got $60 bucks for free. for me, that helps a lot. and only 4x RO is great.

anytime a domestic app asks for feedback on their book i mention giving reload bonuses like offshore. i don't need a 25% bet booster once in awhile, limited to $5, where the odds for that bet are limited to -200 and lower.
 

jjgold

jjgold

Joined
Oct 15, 2021
Messages
38,443
i went back offshore for a lot of my gambling cause of the bonuses. some of the lines i can live with cause i can get paid in money to my bank account quickly. but not getting bonuses irks me when bonuses are out there. i just deposited $600 in bookmaker and got $60 bucks for free. for me, that helps a lot. and only 4x RO is great.

anytime a domestic app asks for feedback on their book i mention giving reload bonuses like offshore. i don't need a 25% bet booster once in awhile, limited to $5, where the odds for that bet are limited to -200 and lower.
excellent post
 

tryteasers

tryteasers

Joined
Jun 29, 2025
Messages
38
i went back offshore for a lot of my gambling cause of the bonuses. some of the lines i can live with cause i can get paid in money to my bank account quickly. but not getting bonuses irks me when bonuses are out there. i just deposited $600 in bookmaker and got $60 bucks for free. for me, that helps a lot. and only 4x RO is great.

anytime a domestic app asks for feedback on their book i mention giving reload bonuses like offshore. i don't need a 25% bet booster once in awhile, limited to $5, where the odds for that bet are limited to -200 and lower.
I like the way you think. So what it takes a few more minutes to send money if depositing but offshore is better for a number of reasons.
 

pipe

pipe

Joined
Aug 3, 2022
Messages
7,588
Is Cuban a big gambler?
I don't mean on business deals, I mean on sports or casino games....
He knows his shit. He reads everything.
 

Tanko

Tanko

Joined
Oct 27, 2021
Messages
53,335
I’m reading that this piece of the bill was pushed to be included by domestic books. Why? Because it will push advantaged players out of the US market. Just another move to restrict players US books don’t want as clients.

I would have thought the “limits” they are putting on winning bettors would have been enough to “protect” US book’s profits. I guess this was just another tool for them to use.

I wonder how much the books paid to the politicians to include it? They are corrupt POS.
 
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