{"id":17362,"date":"2025-07-12T20:00:00","date_gmt":"2025-07-12T20:00:00","guid":{"rendered":"https:\/\/www.dailybase.com\/en\/?p=17362"},"modified":"2025-07-13T16:08:27","modified_gmt":"2025-07-13T16:08:27","slug":"gamblers-dislike-the-new-big-beautiful-bill-as-it-charges-taxes-on-phantom-income","status":"publish","type":"post","link":"https:\/\/www.dailybase.com\/en\/gamblers-dislike-the-new-big-beautiful-bill-as-it-charges-taxes-on-phantom-income\/","title":{"rendered":"Gamblers Dislike The New &#8220;big Beautiful Bill&#8221; as It Charges Taxes On Phantom Income!"},"content":{"rendered":"\n<p>For most people, gambling is just a way to enjoy some time and potentially win money. However, professional gamblers who play poker or other card games for a living make loads of money doing this. However, they&#8217;re also at risk of having big losses. This was worth it for most <a href=\"https:\/\/www.dailybase.com\/en\/high-rollers-the-worlds-biggest-gambling-nations\/\"><strong>pro gamblers<\/strong>, <\/a>as they can deduct 100% of their losses from their taxes. Unfortunately, the new Big Beautiful Bill is bringing change, which changes this around!<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.dailybase.com\/en\/gamblers-dislike-the-new-big-beautiful-bill-as-it-charges-taxes-on-phantom-income\/#The_900-page_Bill_has_a_hidden_clause_for_Gamblers\" >The 900-page Bill has a hidden clause for Gamblers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.dailybase.com\/en\/gamblers-dislike-the-new-big-beautiful-bill-as-it-charges-taxes-on-phantom-income\/#Why_is_the_bill_a_problem_for_Gamblers\" >Why is the bill a problem for Gamblers?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.dailybase.com\/en\/gamblers-dislike-the-new-big-beautiful-bill-as-it-charges-taxes-on-phantom-income\/#Featured_Image_Credit_Pexels\" >Featured Image Credit: Pexels<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"h-the-900-page-bill-has-a-hidden-clause-for-gamblers\"><span class=\"ez-toc-section\" id=\"The_900-page_Bill_has_a_hidden_clause_for_Gamblers\"><\/span>The 900-page Bill has a hidden clause for Gamblers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The reason the bill was named &#8220;The Big Beautiful Bill&#8221; is that it was nearly 900 pages long. Only after the bill was passed did people start to notice some of the details. While most changes were already publicly known, there were some changes that were just skipped by most people. <\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"800\" height=\"533\" src=\"https:\/\/www.dailybase.com\/en\/wp-content\/uploads\/sites\/10\/2025\/07\/pexels-pixabay-269630-2.jpg\" alt=\"Professional Gamblers chips and poker \" class=\"wp-image-17415\" srcset=\"https:\/\/www.dailybase.com\/en\/wp-content\/uploads\/sites\/10\/2025\/07\/pexels-pixabay-269630-2.jpg 800w, https:\/\/www.dailybase.com\/en\/wp-content\/uploads\/sites\/10\/2025\/07\/pexels-pixabay-269630-2-300x200.jpg 300w, https:\/\/www.dailybase.com\/en\/wp-content\/uploads\/sites\/10\/2025\/07\/pexels-pixabay-269630-2-768x512.jpg 768w, https:\/\/www.dailybase.com\/en\/wp-content\/uploads\/sites\/10\/2025\/07\/pexels-pixabay-269630-2-585x390.jpg 585w, https:\/\/www.dailybase.com\/en\/wp-content\/uploads\/sites\/10\/2025\/07\/pexels-pixabay-269630-2-263x175.jpg 263w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\">Credit: Pexels <\/figcaption><\/figure>\n<\/div>\n\n\n<p>However, in the 900-page document, there is a hidden clause for professional gamblers and the way their income works. The key change? A change in the Loss Deduction Cap from 100% to 90% which is not beneficial for gamblers at all. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-is-the-bill-a-problem-for-gamblers\"><span class=\"ez-toc-section\" id=\"Why_is_the_bill_a_problem_for_Gamblers\"><\/span>Why is the bill a problem for Gamblers? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>For the rest of 2025, gamblers can deduct 100% of their losses from their income. So, if they win $ 100,000 and then lose $ 100,000, they would break even for income tax purposes. However, starting from 2026, Gamblers will only be able to deduct 90% of their losses. So even if they lose $100.000, for tax purposes, they can only deduct $90.000. <\/p>\n\n\n\n<p>This would mean that for the IRS, they would still owe taxes on those $10.000, which they don&#8217;t have. So gamblers have a chance of paying taxes on phantom income. Most professional Gamblers work with thin margins and play with big amounts. This means that they will be at risk for having to pay income tax on money they never made. <\/p>\n\n\n\n<p>This change could eventually lead professional gamblers to leave the US. In addition, the prize pools for these competitions might become smaller, which makes them less attractive. This would cause damage to the existing gambling ecosystem.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-featured-image-credit-pexels\"><span class=\"ez-toc-section\" id=\"Featured_Image_Credit_Pexels\"><\/span>Featured Image Credit: Pexels<span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>The new Big Beautiful Bill will have a big impact on professional gamblers in the states! <\/p>\n","protected":false},"author":369,"featured_media":17414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[27,30],"tags":[],"class_list":["post-17362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment","category-lifestyle"],"acf":[],"featured_image_src":"https:\/\/www.dailybase.com\/en\/wp-content\/uploads\/sites\/10\/2025\/07\/pexels-javon-swaby-197616-3279685-2.jpg","author_info":{"display_name":"Daniel","author_link":"https:\/\/www.dailybase.com\/en\/author\/baldussu\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gamblers Dislike The New &quot;big Beautiful Bill&quot; as It Charges Taxes On Phantom Income! - Daily Base EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailybase.com\/en\/gamblers-dislike-the-new-big-beautiful-bill-as-it-charges-taxes-on-phantom-income\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gamblers Dislike The New &quot;big Beautiful Bill&quot; as It Charges Taxes On Phantom Income!\" \/>\n<meta property=\"og:description\" content=\"The new Big Beautiful Bill will have a big impact on professional gamblers in the states!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailybase.com\/en\/gamblers-dislike-the-new-big-beautiful-bill-as-it-charges-taxes-on-phantom-income\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Base EN\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/dailybasecom\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-12T20:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-13T16:08:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.dailybase.com\/en\/wp-content\/uploads\/sites\/10\/2025\/07\/pexels-javon-swaby-197616-3279685-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Daniel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Dailybasecom\" \/>\n<meta name=\"twitter:site\" content=\"@Dailybasecom\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Daniel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.dailybase.com\/en\/gamblers-dislike-the-new-big-beautiful-bill-as-it-charges-taxes-on-phantom-income\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.dailybase.com\/en\/gamblers-dislike-the-new-big-beautiful-bill-as-it-charges-taxes-on-phantom-income\/\"},\"author\":{\"name\":\"Daniel\",\"@id\":\"https:\/\/www.dailybase.com\/en\/#\/schema\/person\/ea029db0919443870025ba1a6057f517\"},\"headline\":\"Gamblers Dislike The New &#8220;big Beautiful Bill&#8221; 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