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OAKLAND PARK, Fla. (Gambling911.com) - Democrat Dina Titus won her reelection to Nevada's U.S. House District 1 on Tuesday as part of the so-called Democratic "blue wave". That's good news for gamblers.
The House Ways and Means Committee approved Titus' Digital Asset Tax Certainty Act containing the provision restoring the gambling-loss deduction to 100%, however, time constraints will likely mean the Nevada congresswoman will have to reintroduce her legislation in next year's session. Assuming that happens, she should have more favorable support with her party in control of both chambers of congress.
The Big Beautiful Bill was a sweeping U.S. federal statute, passed in 2025 by the 119th Congress as H.R. 1 and signed into law by Trump. Spanning more than 900 pages, the bill contained a slew of provisions changing federal programs and the tax code, many of which lawmakers admit they are only now beginning to fully digest.
The gambling world quickly learned they, too, would be impacted.
Under the new law, starting for tax years beginning January 1, 2026, gamblers can no longer deduct 100% of their gambling losses. Instead, losses are capped at 90% of actual losses when offsetting winnings. Regardless of whether the full gambling-loss deduction to 100% is restored at a later day, gamblers will almost certainly be unable to deduct 100% of their gambling losses for the 2026 tax year.
Even if a gambler were to break even, the new law now requires these individuals to report taxable income.
All of this will go into effect with the next tax filing period.
Sports bettor Ben Rapsis illustrated the problem posed currently:
"I make 50k a year, have gambled with the same 20k back and forth for over 500k worth of bets. 528k lost, 523k won. Only had up to 30k at most the whole time. I would owe tax on 50k phantom income when I've already lost 5k on money I already paid tax on this is criminal."
Titus has served in U.S. House District 1 since 2013. Titus previously served in U.S. House District 3 from 2009 to 2011.
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- Chris Costigan, Gambling911.com Publisher
