We provide gaming industry news from casino news, to the latest gambling laws, poker news, sports betting headlines and more. To provide an example, consider a taxpayer who makes two sports bets, one of which wins $1,000 and one of which loses $1,000. In 2025, if the taxpayer itemizes their taxes, they will increase their income by $1,000 and then increase their itemized deductions by $1,000, resulting in no impact on their taxable income.
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Independent analysis of Trump’s “Big Beautiful Bill” found it would increase the already ballooning national debt by $3.3 trillion over the next 10 years. Flutter informed customers about the player data breach by email and said the incident has now been contained. Commenting on the campaign’s success, EGBA Secretary-General Maarten Haijer said that the campaign has been a success in its most recent iteration and that the association had learned important lessons. The increase in participation has been another encouraging trend to observe.
- At the time, Katz predicted that the key takeover is expected to help Gambling.com grow its business by 20% in 2025.
- That was the opinion of David Katz, who was quoted by CDC Gaming back in December.
- We also cover film, TV, and internet weirdness, and it all gets tagged as Game News.
- While MLB didn’t disclose the nature of its investigation, ESPN reported it was related to gambling.
- What a number of gambling aficionados pointed out on social media was that by limiting the tax deduction to 90% of losses, gamblers could actually owe taxes in years when they netted losses on their bets.
‘Breathtaking arrogance’: Damning report finds Star unsuitable to run its Sydney casino
In the era of declining tax enforcement budgets, this strain may be difficult to overcome. However, what is less clear is what happens when the taxpayer wins $100 one day, and has income on that day, but then loses $100 the next day, effectively resulting in the taxpayer having no gain or loss once netted together. The IRS discusses in Topic number 419 that Taxpayers can deduct, as a miscellaneous itemized deduction, any gambling losses to the extent of their wins. This means that taxpayers do not take the standard deduction, increase their income by $100, and increase their deductions by $100, resulting in no tax consequences.
Further restrictions may limit the number of ads that can be displayed at a single location, as well as the frequency of advertising. Daily fantasy sports operators, on the other hand, may be required to include links to self-exclusion programs, just like casinos and sportsbooks do. The task force was established by Governor Phil Murphy last year, in response to a Rutgers University Study which suggested that players in New Jersey are exposed to a higher risk of developing gambling problems. Microsoft has made a huge number of cuts to its gaming business since acquiring Activision Blizzard for $69 billion. It laid off 1,900 staff in January 2024, then made further cuts just a few months later when it closed Redfall developer Arkane Austin and Hi-Fi Rush developer Tango Gameworks. In September 2024, Microsoft cut a further 650 staff from its gaming business.
The alert was reportedly «triggered» by action on Ortiz’s first pitch that inning being either a ball or a hit batsman. The next incident, with similar action, was another bad miss on June 27 in the top of the third inning. One example given on X laid out that under this new setup, if a gambler won $200,000 in a year but lost $210,000, they would actually be able to deduct only $189,000 worth of losses. Meaning they’d have $11,000 in taxable income even though they netted $10,000 in losses during the year.
We cover big, breaking stories and smaller, viral ones, on everything from triple-As to indies to streaming. We also cover film, TV, and internet weirdness, and it all gets tagged as Game News. The card rooms spent at least $500,000 on ads attacking Low, according to the card rooms. More recently, tribes have contributed $6.3 million to candidates since January 2023 while card rooms have donated at least $1.3 million. Those funds don’t include the $3 million the card rooms spent targeting the four candidates this fall. Can you help me reframe this experience in a way that reminds me what I’m good at?
Gambling revenues have reached record highs in recent years as legalized gambling has proliferated across the U.S. Thirty-eight states, plus Washington, D.C., and Puerto Rico, now have some form of legalized sports betting, which has exploded following a 2018 Supreme Court ruling that broke up Nevada’s monopoly on the practice. In 2024, commercial gaming revenue reached a record high of nearly $72 billion, according to the American Gaming Association, best casino sites online bonuses which represents the U.S. gambling industry. Trump’s One Big Beautiful Bill Act has been officially signed into law. Along with numerous law changes that I identified in a prior Forbes article, one specific provision looms large for the gambling industry.