How much impact will the new USA tax laws have on your play?

TeUnit

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  • #1
I am not sure that it will have much impact on the avg player.

I do wonder if casinos will have to adjust rewards or the odds to achieve the same kind of results with less marginally profitable players.
 
hobojim1247

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  • #2
I doubt it affect me much since I am not professional and do not use the winnings to live off. The only time I will be taxed is when I make a big tounament win and that becomes taxable.
 
Sunz of Beaches

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  • #3
To me it will have no impact on my game as I don't live in the United States of America and probably never will in this lifetime.
 
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  • #4
I will never willingly pay tax on winnings to the US govt, if it is taxed by the online casino operator there is nothing I can do about it apart from not playing at that casino.

If I really wanted to play, most likely I would find a local online casino, we do not pay tax on gambling winnings in my country.

(y)
 
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nabmom

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  • #5
TeUnit said:
I am not sure that it will have much impact on the avg player.

I do wonder if casinos will have to adjust rewards or the odds to achieve the same kind of results with less marginally profitable players.
Click to expand...
Sorry for being too lazy to Google here, but what is the tl;dr of the new tax laws?
 
najisami

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  • #6
nabmom said:
Sorry for being too lazy to Google here, but what is the tl;dr of the new tax laws?
Click to expand...

  • Professional gamblers report income on Schedule C and pay self-employment tax at 15.3%
  • Starting in 2026, new tax law limits loss deductions to 90% of winnings under the OBBBA
  • The IRS uses a nine-factor test to determine professional status, with record-keeping being the most critical factor
  • Professional status allows deducting ordinary business expenses like travel, lodging, and research materials
  • Quarterly estimated tax payments are required to avoid underpayment penalties
 
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najisami

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  • #7
TeUnit said:
I am not sure that it will have much impact on the avg player.

I do wonder if casinos will have to adjust rewards or the odds to achieve the same kind of results with less marginally profitable players.
Click to expand...

Agree with you. Only professional players will be affected by the new law. And it's really bad. You can google it to see the details.
Ofc, if you happen to win a big tourney, you'll have to pay tax on your winnings depending on where you live (One time though). In the US, as far as I know, you're required to pay tax on any winning equal or greater than $10K.
 
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