Top Trending Gambling News July 9, 2025: GOP Senators Oblivious to Gambling Language in Budget Bill

These are your top trending news stories from the world of gambling and sports Wednesday July 9, 2025. Last 24 Hours Gambling911 Impressions: 85663.

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GOP Senators Were Oblivious to Gambling Language in Big Beautiful Bill

“If you’re asking me how it got in there, no, I don’t know,” Sen. Chuck Grassley (R-Iowa) said during an interview on Tuesday.

“I don’t know anything about it. I’m not sure what it does,” Sen. John Cornyn (R-Texas) added.

Both GOP senators were referring to a provision in the massive tax and spending bill that US President Donald Trump signed into law last week.

Instead of being able to deduct 100 percent of losses, gamblers will now only be able to deduct 90 percent.  It's a big deal in all sectors of the gambling community from poker players to pro sports bettors to daily fantasy sports customers to even slot players. 

The provision surprised many in the industry as well as numerous Republican senators involved in drafting the legislation, who told HuffPost they didn’t know how or why it was inserted into the bill. GOP lawmakers were under pressure to pass the bill by Trump’s self-imposed July 4 deadline.

Poker pro Phil Galfond reviewed data from approximately 75 percent pros and 25 percent serious recreational poker players tracked over a period of time in order to determine the impact this bill's provision to eliminate 100 percent deductions on losses will have on their bottom line.

One individual tracked was paying $11,000 in taxes.  They are now going to pay $47,000 in tax, assuming the same results. 

"You can go down the list, I would say the median, somewhere in the 15% range or so, there are some ugly one's.  The median is 22 percent more tax," Galfond explains. 

Bitcoin Punter responded to Galfond's well thought out assessment.

"I think your conclusions make sense with the current level of liquidity in the poker marketplace. The category you list “already have a job/side income” is the primary source of $ for winning poker players. New setup adds rake even for losing players, so win rates won’t be equiv."

Tyler Wells writes: 

"A legend you are, indeed. But, damn you need to become a politician and represent the people.  I know you’re a legend, but move one - the change you can actually make in people’s lives is significant. If the gambling world trust you. Imagine how “normal” folk would trust you."

On Monday, U.S. Representative Dina Titus, a Democrat from Nevada, introduced legislation that would restore the full gambling deduction for losses.  

The bill, Fair Accounting for Income Realized from Betting Earnings Taxation (FAIR BET) Act, seeks to undo a provision in the recently passed budget bill that limits bettors to deducting only 90% of their gambling losses against winnings on their tax returns.

“The recently passed budget bill included a provision inserted by Senate Republicans without consent of the House that imposed a tax increase on Americans who gamble by reducing from 100 percent to 90 percent the amount of losses they can deduct from gambling winnings for their income taxes,” Titus, a Democrat from Nevada, said in a statement.

Titus was offered an opportunity to speak on a panel at the upcoming Bet Bash conference in Las Vegas.  While unable to attend due to prior commitments, the congresswoman will be providing a prerecorded message for attendees to hear exclusively. 

Quick update. Congresswoman Titus is unable to attend due to prior commitments but will send a prerecorded message for our @bet_bash attendees to hear!

We thank the congresswoman for championing this cause!

I have reached out to the other sponsors of the FAIR BET Act extending… https://t.co/X41cZe18qV

— spanky (@spanky) July 8, 2025

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