1. The rise in sports betting over the past few years has been massive, but that growth could soon be halted in a major way.
If the government gets its way, gamblers (who wager legally) will be paying a lot more in taxes come 2026. A new bill would allow gamblers to deduct from their winnings an amount equal to 90% of their losses for a tax year. That means if you break even for a year, you’d still have to pay a 10% tax on the total money you won, regardless of losses.
