Why gamblers are raging over Trump's "big, beautiful bill"

President Trump's "big, beautiful bill" legislation hasn't hit the jackpot with gamblers and the wider gaming industry.The big picture: Gamblers are angry over a provision that could see bettors lose money even when they come out ahead during tax time — something that lawmakers are already making moves to repeal.The tax rule changes came as sports gambling has become massively popular, replacing the stock market in many states for investors.Revenue from commercial gaming in the U.S. hit over $70 billion in 2024, according to the American Gaming Association.Gambling tax losses in 'big, beautiful bill'Trump's signature legislation includes a provision that allows gamblers to deduct from their winnings equal to 90% of their losses for a tax year. Before, gamblers could deduct all of their losses from their declared income.Case in point: A hypothetical gambler who wins $100,000 but loses $100,000 would have to pay taxes on $10,000 of income."There could be scenarios where folks have a tax liability that matches or exceeds the amount that they earn," Garrett Watson, director of policy analysis at the Tax Foundation, told Axios earlier this month.The new rule begins in 2026, and could raise $1 billion for the government, according to the Congressional Budget Office.Gamblers upset over gambling tax loss ruleBefore the bill passed, there was growing angst over the provision from gamblers.Pro poker player Phil Galfond said on X the provision "would end professional gambling in the US and hurt casual gamblers," with pros losing millions based on their wins and losses.Everyday gamblers are still concerned. Many X users have been rolling their eyes at the new tax rule, and some — including those who bet on apps like FanDuel and DraftKings — questioned their gambling habits in the future."It is something that's driving rage," Brett Abarbanel, executive director of the International Gaming Institute at UNLV told Axios. "There's a lot of frustration."Alexander Korsager, chief gaming officer at Casino.org, agreed: "The emotional tone we're seeing online shows just how real the concern is."Much of the frustration, Abarbanel said, is because the law changes the tax structure for millions of people.Gamblers who place bets on any given Sunday may now take their decision more seriously because there are tax implications, Abarbanel said.What we're watching: This is likely to remain a sore spot for taxpayers through the 2026 midterms — unless something is done about it by lawmakers."We may even see renewed outrage when people realize what that impact is when they start filing their own taxes," Abarbanel said.Reality check: An American Gaming Association spokesperson said the tax provision is more likely to impact taxpayers who itemize during tax season — like professionals — over those who take the standard deduction.Gambling provision and the FAIR Bet ActMembers of Congress have already spun the wheel of walking back the gambling tax provision. Rep Dina Titus (D-Nev.) introduced the the FAIR Bet Act on Monday, which would make gambling deduction 100% again.Reps. Ro Khanna (D-Calif.) and Troy Nehls (R-Texas) are also on board with the new legislation."This is an attack on freedom, fun, and sports," Khanna wrote on X.The gaming industry has widely shared support for the FAIR Bet Act.A representative for Draft Kings said in a statement that the company is "committed to working with federal lawmakers and the Administration to restore equitable tax treatment for our customers."An American Gaming Association spokesperson said the industry trade group will work with Congress "to restore the long-standing tax treatment of gaming losses."The other side: Republicans on the Senate Finance Committee told HuffPost that the gambling tax went largely unnoticed during "big, beautiful bill" negotiations. (Though there were reportedly negotiations to fix the tax deduction cuts that were denied.)Sen. Thom Tillis (R-N.C.) called it "bad policy.""I was so focused on Medicaid," he said, "I wasn't looking for other reasons to be against the bill."Go deeper: 5 under-the-radar pieces of Trump's "big, beautiful bill" that may impact your life

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