![\"Nevada](\"https:\/\/readwrite.com\/wp-content\/uploads\/2025\/08\/Nevada-experts-warn-federal-tax-change-could-harm-gambling-industry-1-300x200.png\")
<\/div>\nA minor tax change buried in a sweeping federal bill could have outsized consequences for the gambling industry in Nevada, according to experts and lawmakers who spoke at a town hall meeting Monday (August 11).<\/p>\n
The so-called \u201cOne Big Beautiful Bill<\/a>\u201d included a provision capping the deduction of gambling losses at 90% of winnings. Previously, gamblers could deduct 100% of losses, meaning someone who won and then lost the same amount would owe no federal taxes.<\/p>\n Happening Now: Rep. Dina Titus is hosting a Town Hall on the FAIR BET Act to restore the 100% deduction for gambling losses, joined by community leaders. and industry experts. Live from Las Vegas City Hall. #FAIRBETAct<\/a> #LasVegas<\/a> https:\/\/t.co\/rqbcoxhKfP<\/a><\/p>\n — Dina Titus (@repdinatitus) August 12, 2025<\/a><\/p>\n<\/blockquote>\n Rep. Dina Titus, a Democrat from Nevada who opposed the bill, said the change affects far more than professional poker players. \u201cIt\u2019s a very simple change, but it\u2019s had a great deal of impact. Not only on players, but on the industry, on some types of tourism, on revenue,\u201d she said at the event in Las Vegas City Hall.<\/p>\n Titus noted that under the new rule, a gambler who wins $100,000 and then loses $100,000 would still owe $10,000 in taxes, despite having no profit. Calling this a tax on \u201cphantom money,\u201d she added, \u201cI didn\u2019t think that was fair.\u201d<\/p>\n The congresswoman has introduced the FAIR BET Act<\/a>, short for Fair Accounting for Income Realized from Betting Earnings Taxation Act<\/a>, which would restore the full deduction. She said the bill has bipartisan support, including from Texas Republican Rep. Troy Nehls, even though he backed the larger package.<\/p>\n Federal estimates suggest the new limit could raise $1.1 billion over nine years. Titus questioned that projection, warning that it could drive gamblers toward offshore sites or illegal markets. \u201cIf you make people pay taxes on fake money, they\u2019re not going to deduct it or report it, or even gamble,\u201d she said.<\/p>\n Adam Robinson of the American Bettors\u2019 Voice told attendees the policy could erode trust in regulated sports betting. \u201cYou could win $100,000, lose $100,000, and because of this provision, looks like you made $100 on your tax return, and you\u2019re gonna get taxed on that,\u201d he said.<\/p>\n \u201cWe\u2019ll lose players, we\u2019ll lose jobs, and most importantly, we\u2019ll lose trust. The regulated market will shrink, the unregulated market will grow.\u201d<\/p>\n Becky Harris, former state senator and chairwoman of the Nevada Gaming Control Board, argued the deduction should be treated like other financial losses. \u201cI think the ability to deduct your gambling losses is no different than the ability to deduct your stock losses,\u201d she said.<\/p>\n Harris warned that targeting the gambling industry while leaving other sectors untouched is \u201cbad policy\u201d and urged federal officials to consult state lawmakers.<\/p>\n Tax specialist Russell Fox predicted that casinos would feel the effects over time. Quoting economist Alan Greenspan, he said, \u201cWhatever you tax, you get less of.\u201d<\/p>\n Titus expressed optimism about reversing the change before it takes effect for next year\u2019s taxes. \u201cWe have a little time, but we don\u2019t want to drag around, we want to get it done,\u201d she said, adding that she hopes to attach her bill\u2019s language to must-pass legislation before the end of the year.<\/p>\n Featured image: Dina Titus via X<\/em><\/p>\n The post Nevada experts warn federal tax change could harm gambling industry<\/a> appeared first on ReadWrite<\/a>.<\/p>\n\n
Nevada gambling tax change could make ‘unregulated market grow’<\/span><\/h2>\n