{"id":9434,"date":"2025-07-07T23:45:51","date_gmt":"2025-07-07T23:45:51","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2025\/07\/07\/fair-bet-act-brings-back-common-sense-gambling-tax-rules\/"},"modified":"2025-07-07T23:45:51","modified_gmt":"2025-07-07T23:45:51","slug":"fair-bet-act-brings-back-common-sense-gambling-tax-rules","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/07\/07\/fair-bet-act-brings-back-common-sense-gambling-tax-rules\/","title":{"rendered":"FAIR BET Act Brings Back \u201cCommon Sense\u201d Gambling Tax Rules"},"content":{"rendered":"<div>\n<p>The fight over gambling taxes is heating up in Washington. Nevada Representative Dina Titus introduced the FAIR BET Act on July 7, aiming to undo new tax limits on gambling losses passed under President Donald Trump\u2019s Big Beautiful Bill Act. The bill, reported on in recent days, comes in response to what Titus calls unfair treatment of gamblers in the latest budget legislation.<\/p>\n<hr>\n<p><strong><em>Good to know<\/em><\/strong><\/p>\n<ul>\n<li><strong><em>Titus wants to restore full loss deductions for all gamblers.<\/em><\/strong><\/li>\n<li><strong><em>Trump\u2019s law limits deductions to 90% of losses, starting in 2026.<\/em><\/strong><\/li>\n<li><strong><em>The FAIR BET Act also targets outdated slot machine reporting rules.<\/em><\/strong><\/li>\n<\/ul>\n<hr>\n<p>Under the current plan signed by Trump on July 4, gamblers who win and lose the same amount in a year would still owe taxes. For example, someone who won $100,000 and lost $100,000 in 2025 would still owe $10,000 in taxes due to the 90% loss deduction cap.<\/p>\n<p>Titus says that is not fair. <em>\u201cMy FAIR BET Act would rightfully restore the full deduction for losses so gamblers don\u2019t pay taxes on money they haven\u2019t won,\u201d<\/em> she said while announcing the bill.<em> \u201cIt gives everyone \u2014 from recreational gamblers to high-stakes gamblers \u2014 a fair shake.\u201d<\/em><\/p>\n<p>The FAIR BET Act proposes reinstating the full tax deduction for gambling losses, something gamblers had prior to the new budget rule. The change would help both casual and professional players who keep detailed records and report their earnings.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/7-bit-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"7Bit Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/7BitCasino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/7-bit-casino\/\" title=\"7Bit Casino\" target=\"_blank\" rel=\"nofollow\">7Bit Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>177% up to 5BTC + 77 <strong>\u00a0Free Spins<\/strong>!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/7-bit-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Circa Sports CEO Derek Stevens also backed the bill and took it a step further. He has urged lawmakers to remove the federal sports betting excise tax and raise the slot machine reporting threshold back to $2,000. The recent budget bill had cut that threshold to $1,200, a move many in the gaming industry view as outdated and burdensome.<\/p>\n<p>Titus echoed concerns about what tighter tax rules might lead to. She warned that players may stop reporting their winnings or shift to offshore or unregulated betting platforms. <em>\u201cThe government should be encouraging players to properly report their winnings and wager using legal operators,\u201d<\/em> she said.<\/p>\n<p>Representative Ro Khanna has signed on as a co-sponsor of the FAIR BET Act. Titus described the legislation as <em>\u201ccommon-sense,\u201d<\/em> signaling hope that it will gain broader support in Congress.<\/p>\n<p>Unless the FAIR BET Act moves forward quickly, Trump\u2019s tax law changes are still on track to take effect in 2026.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/dina-titus-fair-bet-act\/\">FAIR BET Act Brings Back \u201cCommon Sense\u201d Gambling Tax Rules<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The fight over gambling taxes is heating up in Washington. Nevada Representative Dina Titus introduced the FAIR BET Act on July 7, aiming to undo new tax limits on gambling losses passed under President Donald Trump\u2019s Big Beautiful Bill Act. The bill, reported on in recent days, comes in response to what Titus calls unfair [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-9434","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/9434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=9434"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/9434\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=9434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=9434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=9434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}