WASHINGTON – On the morning of May 14, 2018, the Supreme Court of the United States handed down Murphy v. NCAA and ended Nevada’s 26-year monopoly on legal sports betting. Eight years later, questions surrounding who would profit and under what rules have been answered… … Read more
Federal tax provision limiting gambling loss deductions faces industry opposition and bipartisan pushback over projected $18 billion in handle losses. Hard Rock Bet expands Florida presence with Orlando Magic partnership, its second NBA deal in the state. Former Kentucky Senator advocates for Georgia horse racing … Read more
Sports bettors could owe taxes on their winnings without any loss deductions under the proposal from Advancing American Freedom. INDIANAPOLIS – Former Vice President Mike Pence’s think tank, Advancing American Freedom (AAF), is urging Congress to eliminate tax deductions for gambling losses entirely. This move … Read more
A new bipartisan bill, the FAIR BET Act, aims to reverse a controversial tax rule buried in President Trump’s recently signed One Big Beautiful Bill. Introduced by Reps. Dina Titus and Ro Khanna, the legislation would restore gamblers’ ability to fully deduct losses against winnings. … Read more
President Donald Trump is expected to sign the One Big Beautiful Bill Act into law Friday, finalizing a massive legislative package that touches everything from infrastructure to taxes. The change could signal a desire for bettors to move back to offshore sportsbooks. WASHINGTON – Buried deep … Read more
Fewer than 0.6% of U.S. sports bettors report gambling income to the IRS, and over 90% lose money annually. The proposed tax change targets high-stakes professionals, not casual fans betting $20 on the Cowboys. WASHINGTON – Everyone’s panicking over the Senate’s version of the One … Read more