Senate's 'Big Beautiful Bill' Limits Gambling Loss Deductions to 90%, Affecting Pros After Narrow House Passage

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Updated Jul 2, 2025, 02:08 PM

The Senate's version of the 'Big Beautiful Bill,' a federal tax proposal currently under consideration, includes a provision that would limit gambling loss deductions to 90%, even for professional gamblers. This change means that professional gamblers who break even or lose money could still owe taxes on their winnings, effectively increasing their tax burden. The provision was initially introduced by the Senate Finance Committee on June 16 and has sparked concern among gambling communities and some lawmakers. The bill narrowly passed the House and has since been amended, leading to opposition from some GOP representatives.

If the House does not amend the bill further, the gambling tax changes are likely to become law. The development has raised questions about the future viability of professional gambling in the U.S. and whether affected gamblers might shift to other financial activities such as trading.

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#Senate #Big Beautiful Bill #Senate Finance Committee #House #GOP

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Sources

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Scott Davies

@sdaviespoker

🚨 URGENT: A tax rule hidden in the Senate’s Big Beautiful Bill would cap gambling loss deductions at 90%, even for pros. This means break-even players still owe tax. It could end professional gambling in the US. Here’s how to fight it before it’s law 👇 #GamblingTax