IRS proposed rules would implement OBBBA’s 90% gambling loss cap, taxing some gamblers on income they never actually kept.

While the house always wins in the long run, frequent gamblers have nights, even years, when they come out ahead. That, however, is not the norm, nor is it something any gambler should expect. Most ...

An in-depth conversation with McKay Coppins exploring the odds, psychology, and systems that lead most gamblers to lose over time.

(NEXSTAR) – Thanks to a provision buried among the hundreds of pages of Trump’s Big Beautiful Bill, there is a tax provision that limits gamblers’ ability to offset their losing bets. “Only 90% of ...

High-stakes gamblers took a loss on Capitol Hill when the bid in the House of Representatives to fully restore the federal tax deduction for gambling losses failed. That development left in place a ...

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