Industry4 min read
New 90% Gambling Loss Cap Stings Bettors in 2026
The 'One Big Beautiful Bill' capped gambling loss deductions at 90%, meaning you'll owe taxes on phantom winnings. But the $2K slot threshold helps.
The Degenerate StaffJan 13, 2026
#Deductions4 articles
Industry3 min read
The 90% Gambling Loss Deduction Cap Is Going to Wreck Some Bettors
New tax law caps gambling loss deductions at 90% of winnings. If you're a high-volume bettor, the IRS just made your life significantly worse.
Sharp Money MikeJan 6, 2026
Industry3 min read
New 2026 Gambling Tax Rules Hit Your Wallet Today
Two major gambling tax changes take effect January 1: the slot jackpot reporting threshold rises to $2,000, and gambling loss deductions drop to 90%.
The Degenerate StaffJan 1, 2026
Industry3 min read
The New 90% Gambling Loss Deduction Is Going to Screw High-Volume Bettors
The One Big Beautiful Bill Act cuts your gambling loss deduction from 100% to 90%, creating taxable 'phantom income' starting in 2026. Here's what it means.
The Degenerate StaffDec 24, 2025