Nevada Rep Introduces Bill to Reverse Cut on Gambling Losses Deduction

• Rep. Dina Titus (D-Nevada) today introduced FAIR BET Act
• Titus last week declared she would introduce a bill to reverse the cut on gambling losses deduction
• The legislation will allow professional gamblers and sports bettors to deduct 100% of losses from taxes

Moments after President Donald Trump’s (R) Big Beautiful Bill was passed, which included a reduction on the amount of losses professional gamblers could deduct from their taxes each year, Rep. Dina Titus (D-Nevada) took to social media and said she would introduce her own bill to reverse this portion of the bill.

She stayed true to her word.

Titus today introduced the FAIR BET Act, which will restore the provision that allows professional gamblers and sports bettors to deduct 100% of their losses from their taxes.

Nobody Should Pay Taxes on Money They Did Not Win

Trump’s sweeping legislation was approved on Thursday, July 3, with the president signing the bill into law on July 4.

Included in the massive piece of legislation was a new tweak to the Internal Revenue Code, which will only allow professional gamblers to deduct 90% of their losses in a year, down from 100%.

Titus, along with Rep. Ro Khanna (D-CA), today introduced the FAIR BET Act, which restores the allowance for a professional gambler to deduct 100% of their gambling losses. On her social media channels, Titus declared “no one should have to pay taxes on money they didn’t win.”

Under the Big Beautiful Bill, if a professional gambler wins $1,000,000 in a single year, but also loses $1,000,000, they will only be able to deduct $900,000 in losses from their taxes.

This means they will have to pay taxes on the $100,000 they cannot deduct, as if they had won the money.

“It pushes people into the black market if they don’t do regulated gaming because they have a tax disadvantage. The black market doesn’t pay taxes, it isn’t regulated, doesn’t help with problem gaming. It’s bad for the industry and it’s bad for the player,” Titus said during an appearance on News Nation.

American Gaming Association Supports Bill

The American Gaming Association today released a statement supporting Titus’s new bill to restore the tax deduction rate to 100%.

“The American Gaming Association applauds Congresswoman Titus for introducing the FAIR BET Act. We are committed to working with Congresswoman Titus, other congressional leaders, and the Trump Administration to restore the long-standing tax treatment of gaming losses.”

Last week, the AGA released the following statement after the One Big Beautiful Bill Act was approved by both the House and Senate:

“We commend congressional leaders on the passage of the One Big Beautiful Bill Act. Our industry’s ability to sustain quality jobs and deliver economic benefits is significantly enhanced by the tax policies of OBBBA that support consumers, encourage business innovation and investment, and strengthen U.S. competitiveness. We look forward to President Trump’s expected signing and will work closely with Congress in the coming months to address the changes to wagering deduction losses and further modernize the tax code.”