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How Trump’s Tax Overhaul Could End Pro Sports Betting
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Subscribe15 JUL 2025 / ACCOUNTING & TAXES
The One Big Beautiful Bill (OBBB) includes a tax provision set to take effect in 2026 that places a 90% cap on gambling loss deductions, effectively taxing bettors on phantom income, which could drastically affect the $10 billion legal betting industry. Rep. Dina Titus (D-NV) has challenged this provision, stating that it will drive gamblers to the black market, and drafted the FAIR BET Act to repeal it, while insiders warn that it could disrupt finance, accounting, and business advisory sectors as well as the larger economy.
For corporate America, the One Big Beautiful Bill (OBBB) is a jackpot of Trump-era tax cuts, extended breaks, revived incentives, and a big ol’ wink at shareholder supremacy. But buried deep in its 330-page buffet is a tax twist that’s got bettors sweatin...
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