US punters to be taxed on winnings

Professional punters across the United States are voicing serious concern for the future of their livelihood following the introduction of President Donald Trump’s new legislation, the One Big Beautiful Bill Act (OBBB), which brings significant changes to gambling tax laws.

Under current U.S. law, gambling wins and losses are taxable, with bettors able to deduct 100 per cent of their losses against any winnings when filing taxes. This has long been a crucial provision for professional gamblers who rely on consistent wagering as income.

However, the OBBB Act, which passed through the House of Representatives this week, will restrict bettors to deducting only 90 per cent of their losses against 100 per cent of their gambling gains within a single tax year.

Many professional punters warn the change could make their profession financially unviable, as even the best bettors endure fluctuations and rely on full loss deductions to offset their long-term income volatility.