News · Press Release

Not-So-Happy New Year: DC Republicans Hit Nevada with New Gambling Tax

Titus spearheads FAIR BET Act to stop legal bettors from being taxed on money they don’t take home

Nevadans are seeing wall–to–wall coverage of how Republicans’ Big, Ugly Bill will hurt the state’s gambling economy – a policy choice Dina Titus has been fighting from the start.

As of January 1, gamblers can no longer deduct 100% of their losses, meaning they will be taxed on “phantom income” – money people never actually take home. Experts say this policy change could drive gamblers offshore, jeopardize local businesses, and put thousands of Nevada jobs at risk.

While Republicans are forcing players to pay taxes on money they never see, Titus’ bipartisan FAIR BET Act aims to restore gambling loss deduction to 100%, a lifeline for Nevada’s economy.

DCCC Spokesperson Lindsay Reilly:
“Dina Titus is willing to fight tooth and nail for the issues that matter most to Nevadans. While Republicans continue to hurt local economies, Titus is standing up for the working members of her community.”

Read more for yourself:
  • Nevada gamblers and casual bettors nationwide face a new tax reality: Starting in 2026, gamblers nationwide can deduct just 90% of their losses against winnings, a drop from the prior full 100% allowance.
  • Nevada relies heavily on the industry’s tax revenue to function, with the state bringing in around $1 billion from gaming to its general fund during the 2024 fiscal year, or about 17% of the fund’s revenue.
  • U.S. Rep. Dina Titus, D-Nev., made a similar point in a letter last month to Rep. Jason Smith, R-Mo., chairman of the House Ways and Means Committee. Titus asked Smith to expedite a hearing for her FAIR BET Act, which would reverse the tax change brought on by the One Big Beautiful Bill.
  • “It unfairly burdens professional gamblers and casual players alike and will inevitably drive players toward offshore and unregulated markets where consumer protections are non-existent, thereby undermining responsible gaming efforts nationwide,” she wrote.
  • Lawmakers left for Christmas break, but ran out of the clock to make a decision on the changes that could impact anyone who gambles. So starting [next year], you will have to pay taxes on the money you lost [after January 1, 2026].
  • Congresswoman Dina Titus has kept urging lawmakers to pass the Fair Bet Act to restore deductions.
  • On the House side, Rep. Dina Titus (D-NV) has led the effort to restore the 100 percent loss deduction through her FAIR BET bill. She’s been struck by the response.
  • “Turns out, we got a million responses to our tweet when we put it out there, more than I’ve ever gotten for anything,” she told The Indy in a recent interview, adding that it isn’t just high-rolling poker pros who will be hurt by the tax change — it’s also regular guys who bet on weekend football.
  • But even if Congress manages to change the law, Nevada’s gambling ecosystem is likely to start feeling its effects as soon as the new year begins.
  • “[Republicans] are reluctant to open up the Big Bad Beautiful Bill because they don’t want to challenge the president, and also, they know if they open it up, other people are gonna have other fixes, too,” Titus said.

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