President Donald Trump's 'Big, Beautiful Bill' Could Ruin Gambling In America

"Big, beautiful bill," my a**. I'm getting PTSD from my experience with Black Friday 2011. No, I'm not talking about the day after Thanksgiving. Instead, I'm talking about Friday, April 11, 2011, when those scoundrels in the U.S. government decided to end online poker in America, and put me out of a good-paying job, which is still hard to come by. 

Well, those scumbag politicians, aka The Swamp that President Donald Trump promised to drain, are back at it. This time, the U.S. government isn't just squeezing online poker players; it's going after all gamblers in the "One Big Beautiful Bill Act". 

One of the things written in this 900+ page bill (which doesn't help the common man, but I'll table that for now), is that deductions "shall be equal to 90% of the amount of such losses during such taxable year, and (B) shall be allowed only to the extent of the gains from such transactions during such taxable year". 

As of July 3, the Senate passed the act 51-50, and the House of Representatives advanced it with a 219-213 vote. The House is debating the bill on the floor before final passage. Hopefully, this anti-gambler language gets removed because, if passed, the bill could destroy the American gambling landscape. 

Related: OBVIOUSLY, THE ILLINOIS GOVERNMENT IS GOING TO RUIN SPORTS BETTING FOR RESIDENTS

Right now, people (not just professional gamblers, more on that below) can deduct 100% of their losses on their taxes. So, if someone hits a $100,000 slot machine jackpot and loses $120,000 at the tables, then they don't have to pay taxes on the $100,000 at the end of the year, since they didn't make that much money, unless this bill passes as written. 

For a further, more comprehensive breakdown of what this bill means for the sports betting space, read Front Office Sports writer and OutKick alum Ryan Glasspiegel's article. Glasspiegel is smarter than me, and I'm not a reporter. I'm a butt-hurt sports betting writer here to riff. That said, some of you probably think, "This doesn't affect me. It's a ‘champagne problem". 

But it does. Less professional money decreases the volume and liquidity these sportsbooks have, equaling less tax revenue. If this money leaves the market, sportsbooks will increase the vig, aka the oddsmakers' tax to place a wager, e.g., -110 or higher. Plus, high-volume daily fantasy sports pros are the reason for big prize pools, which would shrink if this act passes. 

Ultimately, if this provision isn't removed, the "One Big Beautiful Bill Act" will eventually lead to less tax revenue and push bettors toward unregulated offshore markets or local bookies, just like the old days. Here are instructions for contacting your local representative.

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Follow me on X (or Twitter, whatever) @Geoffery-Clark, and check out my OutKick Bets Podcast for more betting content and random rants.