Republicans didn't read the BBB. They're already trying to repeal the part about gambling.

[CaughtInThe]

I guess they had to rush through more $$$$ for ICE so Trump could torture more brown people so they couldn't be bothered to actually read all of it or have their staffs read all of it (and summarize everything to them).

How BBB impacts gambling​

Context: The new bill puts the amount gamblers can deduct from their winnings equal to 90% of their losses for a tax year. This rule would be permanent and start in 2026, said Garrett Watson, director of policy analysis at the Tax Foundation.

• This means that a hypothetical gambler who won $100,000 but lost $100,000 would have to pay taxes on $10,000 of income.

What they're saying: "Even if you break even, you'll still have a tax liability under this proposal," Watson said. "There could be scenarios where folks have a tax liability that matches or exceeds the amount that they earn."

• Pro poker player Phil Galfond said on X this amendment "would end professional gambling in the US and hurt casual gamblers."

https://www.axios.com/2025/07/02/big-beautiful-bill-gambling-food-stamps

 

[CaughtInThe]

"A pro who earns $200k/year might have $3m in winnings and $2.8m in losses. This means earning $200k and being taxed as if they earned $480k.) This applies to both recreational and professional gamblers.”

It means that poker players and gamblers could have break-even years and still have to pay tax on income that they haven’t earned."

'Very scary for poker' – Galfond sends warning as 'Big Beautiful Bill' passes

Phil Galfond slams new US bill after it was passed by Congress, warning it could devastate poker in the States.

www.poker.org

 

[Threegoofs]

Professional gambling adds nothing to society.

The ramifications of this tax are probably good.

 

[CaughtInThe]

Professional gambling adds nothing to society.

The ramifications of this tax are probably good.

That's pretty much what the stock market is.

Now, I'm not a gambler but was in Vegas during some national poker tourney and the people flowing in and the money spent preparing looked crazy. Much cash for hotels, restaurants, etc.

Having said that, I wouldn't want to be taxed on $10,000 of income if I broke even.

 

[Mr Person]

Professional gambling adds nothing to society.

The ramifications of this tax are probably good.

It's not just professional. It makes recreational pointless too, at least if you care about being profitable.

"I don't do X, I don't think X adds to society, therefore who cares if nobody can do it" is a thing that can absolutely be applied to some number of your passtimes. And you wouldn't like it if some random congress critter stuck something in a bill effectively shutting it down, then people who didn't enjoy doing one of those things tells you so what... your activity didn't add to society.

I like recreational poker (and I tend to do pretty well). I like some video games. I like painting (I haven't sold anything...yet; just given away paintings to family). I like hiking. Do any of these add anything directly to society? No.

Is the freedom to do things as long as they aren't directly harming someone else a good thing? Yes. How about a society that can make itself reasonably content with certain enjoyments? Yes.



And I can guarantee you that the degenerates who are actually harmed by this are not going to be dissuaded - they're pissing everything away no matter what the tax code says. It only hits the more responsible people. And for what? Some moral judgment that gambling is a sin? I guess we'll see who inserted it and what their justification is, but if it's to protect low-income people who piss everything away it's stupid and if it's quasi-religious moralizing it's disgusting to me.

And I'm betting it's the lattermost. Some faux-christian Republican using law to enforce morals they probably don't have themselves.

 

[BirdinHand]

Whoops

 

[Threegoofs]

That's pretty much what the stock market is.

No- not at all.

Now, I'm not a gambler but was in Vegas during some national poker tourney and the people flowing in and the money spent preparing looked crazy. Much cash for hotels, restaurants, etc.

I suppose so. I just see it as another way to funnel money to casinos.

Having said that, I wouldn't want to be taxed on $10,000 of income if I broke even.

Me either. And having another reason to disincentivize professional gamblers doesn’t seem like a real problem.

 

[BirdinHand]

No- not at all.

I suppose so. I just see it as another way to funnel money to casinos.

Me either. And having another reason to disincentivize professional gamblers doesn’t seem like a real problem.

All the jobs related to the casino industries would like a word.



The casino and gaming industry and related hotels, restaurants, etc is worth about $330B in annual revenue and 1.7M jobs.

 

[Michael Cole]

Professional gambling adds nothing to society.

So what? In a free country, we get to choose what we do, and there is no requirement involving society.

The ramifications of this tax are probably good.

Why?

This affects all gamblers, not only professionals. Any slot win of $2,000 or more is reportable. And that hasn't changed since the mid-'80s. A casual gambler will have a tax liability if such a jackpot is hit. If he loses more than $2,000 back into the slots, he still owes tax on the $2,000, unless the losses are tracked.

Casual gamblers, tourists, are not always aware of the system, and will play without having their activity tracked. Nowadays, with player cards, this is easily accessible electronically, but everyone doesn't have a (club) card.

This law is the equivalent of allowing a business to deduct only 90% of its expenses. It's a whacky law.

 

[Brack]

How are they going to fix this???

 

[TangoNoCash]

I remember Republicans making a big stink they weren’t given enough time to read the build back better bill when they literally had weeks. Now look what they’ve done. Rules for thee but none for me.

 

[Lovebug]

Professional gambling adds nothing to society.

Neither does my sprout growing hobby.

The ramifications of this tax are probably good.

Probably

 

[joluoto]

Just let the bill kill gambling. That's like the least offensive thing it does.

 

[Threegoofs]

All the jobs related to the casino industries would like a word.



The casino and gaming industry and related hotels, restaurants, etc is worth about $330B in annual revenue and 1.7M jobs.

Great.

Imagine the huge economic output we could realize with bordellos or opium dens.

 

[Threegoofs]

So what? In a free country, we get to choose what we do, and there is no requirement involving society.

Great. Why do I have to subsidize gambling losses?
They’re free to gamble.

Why?

This affects all gamblers, not only professionals. Any slot win of $2,000 or more is reportable. And that hasn't changed since the mid-'80s. A casual gambler will have a tax liability if such a jackpot is hit. If he loses more than $2,000 back into the slots, he still owes tax on the $2,000, unless the losses are tracked.

Casual gamblers, tourists, are not always aware of the system, and will play without having their activity tracked. Nowadays, with player cards, this is easily accessible electronically, but everyone doesn't have a (club) card.

This law is the equivalent of allowing a business to deduct only 90% of its expenses. It's a whacky law.

Ive been to casinos all my life, and I’ve never deducted gambling losses. I don’t feel cheated. Should I?

My thoughts on this are caring less about professional gamblers and more about the bad effects of sports gambling on your phone. I think the more you discourage high stakes betting, the better.

 

[Michael Cole]

Great. Why do I have to subsidize gambling losses?

You're not subsidizing anything.

They’re free to gamble.

Yes, it's a free country.

Ive been to casinos all my life, and I’ve never deducted gambling losses. I don’t feel cheated. Should I?

Have you ever won enough to be taxed?

I already explained how it works. I'll try again. If you hit a million-dollar keno ticket, that will be reported to the IRS. You will owe taxes on $1,000,000 whether you're done gambling or not. If you leave the casino $2,000,000 in the hole, you're still liable for tax on the keno ticket, unless losses are deductible. This is where deducting losses comes in.

A professional gambler does this as a business, and like any other business, losses are deducted from wins to arrive at gross earnings.

I'm not interested in your feelings.

 

[Threegoofs]

You're not subsidizing anything.


Yes, it's a free country.


Have you ever won enough to be taxed?

I already explained how it works. I'll try again. If you hit a million-dollar keno ticket, that will be reported to the IRS. You will owe taxes on $1,000,000 whether you're done gambling or not. If you leave the casino $2,000,000 in the hole, you're still liable for tax on the keno ticket, unless losses are deductible. This is where deducting losses comes in.

A professional gambler does this as a business, and like any other business, losses are deducted from wins to arrive at gross earnings.

I'm not interested in your feelings.

Right. And I don’t see the usefulness of having it as a business, and as far as I’m concerned, I’m subsidizing some guy who’s gambling and wants to deduct his losses from his income.

I’m guessing that most of the people who deduct losses aren’t doing this professionally, they’re doing it on chronic gambling addictions, sports or otherwise. I may be wrong, but I think it’s a pretty good sssumption.

 

[CaughtInThe]

Just let the bill kill gambling. That's like the least offensive thing it does.

Maybe we could bring back prohibition too.

 

[CaughtInThe]

The bigger issue is Republicans didn't read their own bill and we're not exactly sure what other surprises or unintended consequences await the American people.

 

[aociswundumho]

Imagine the huge economic output we could realize with bordellos or opium dens.

This but unironically.

 

[Michael Cole]

Right. And I don’t see the usefulness of having it as a business, and as far as I’m concerned, I’m subsidizing some guy who’s gambling and wants to deduct his losses from his income.

You seem confused. Gambling is taxed as income. If someone has gross losses for the year, they have no income from gambling, nothing to tax, and nothing to deduct.

It's a simple concept. Anyone can understand it. I've explained the system twice.

I’m guessing that most of the people who deduct losses aren’t doing this professionally, they’re doing it on chronic gambling addictions, sports or otherwise. I may be wrong, but I think it’s a pretty good sssumption.

You're lost.

Gamblers are 'screaming from rooftops' over obscure provision in Trump's big bill

An obscure provision in Donald Trump's 'big, beautiful bill' reduces the amount gamblers can deduct from taxes for betting losses.

www.usatoday.com

• Gamblers now deduct all of their losses against winnings on their taxes but will have that deduction reduced to 90% of losses under the new law.

If you still don't get it, I can't help you.

 

[crazyyank]

They bet the farm on the BBB and lost.

 

[aociswundumho]

This is why politicians luv these massive bills they can pass shit into law that would never stand up on its own.

 

[Michael Cole]

"A pro who earns $200k/year might have $3m in winnings and $2.8m in losses. This means earning $200k and being taxed as if they earned $480k.) This applies to both recreational and professional gamblers.”

It means that poker players and gamblers could have break-even years and still have to pay tax on income that they haven’t earned."

'Very scary for poker' – Galfond sends warning as 'Big Beautiful Bill' passes

Phil Galfond slams new US bill after it was passed by Congress, warning it could devastate poker in the States.

www.poker.org

You could lose money for the year and have a tax liability.

The threshold for issuing a W-2G is $1,200 for slots, $1,500 for keno, $5,000 for a poker tournament. These limits haven't been updated since 1977.

Dina Titus is co-sponsoring a bill to change that.

Federal legislation to update the tax reporting threshold for slot machine wins has been reintroduced to Congress by United States Reps. Dina Titus (D-Nevada) and Guy Reschenthaler (R-Pennsylvania).

The bipartisan legislation seeks to increase the IRS reporting requirements for casinos from its current level of $1,200 to $5,000. When a slot spin wins a payout over $1,200, casinos are forced to temporarily take the machine out of service to supply the gambler with Form W-2G.

https://www.casino.org/news/legislation-increase-tax-reporting-threshold-slot-machines-reintroduced/

 

[humbolt]

Sooo, passing a bill to find out what’s in it isn’t a good idea? Just asking for Pelosi.