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FAIR BET Act Aims to Restore Full Gambling Tax Deductions

7/9/2025

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Summary

Story summary

Representative Dina Titus of Nevada has unveiled the FAIR BET Act, aiming to reinstate the full 100% tax deduction for gambling losses. This comes in response to Trump's One Big Beautiful Bill Act, which slashed deductions to 90%. With bipartisan backing, including from Republican Troy Nehls, the bill seeks to protect professional gamblers from the lure of unregulated markets.

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Story summary

Representative Dina Titus of Nevada has unveiled the FAIR BET Act, aiming to reinstate the full 100% tax deduction for gambling losses. This comes in response to Trump's One Big Beautiful Bill Act, which slashed deductions to 90%. With bipartisan backing, including from Republican Troy Nehls, the bill seeks to protect professional gamblers from the lure of unregulated markets.