The US President planning to eliminate all taxes on gambling winnings

[gracreavix]

This is interesting news, I just came across this not quite long.. If the US remove taxes on gambling winnings, that would be good news for gamblers based in US. Because ive hear people complain that paying tax after they win always felt like a second loss, especially on big wins.

If this happens, it may attract more players and boost gambling activity in the US. Because I won’t lie, keeping 100% of winnings instead of handing some portion to the government is really cool.

source

[shinratensei_]

It sounds good from gamblers perspective. No tax for winning means you will be receiving full profit when you win a jackpot. However, it's kinda unfair when it's seen from different perspective. They're still taxing the stock and crypto gain as a capital gain.
I'd rather a gambling winning should be treated the same. It's idiotic to untaxed the gambling winning while capital gain from stock and crypto trade still being taxed. However, trump still "considers" it which mean it's unlikely to be passed.

[rdluffy]

He gave a somewhat vague answer

Here's a good article about it: https://www.foxbusiness.com/politics/trump-says-hell-think-about-eliminating-tax-gambling-winnings

When asked during an Air Force One gaggle if he would potentially nix the tax on gambling earnings, Trump said he’d keep the option open.

"We have no tax on tips, we have no tax on Social Security, and we have no tax on overtime," he said. "No tax on gambling winnings, I don't know. I'm gonna have to think about that."

If you are an American citizen and win money at a casino, how much tax do you have to pay?

[Sammye3]

He gave a somewhat vague answer

Here's a good article about it: https://www.foxbusiness.com/politics/trump-says-hell-think-about-eliminating-tax-gambling-winnings

This is a more accurate and credible source/article. Based off the article, it was said that he would consider it but it has not being fully finalized or passed on through the legislation as a law yet but is only a mere consideration.

With this implementation, gamblers would definitely increase and would rise the need for more employees and  the government can also benefit indirectly from corporate taxes as well from the casino too. Gambling addiction would also be on the increase too with more people coming into the system.

[Gozie51]

From what I see, this is still in form of speculation. The proposal bill has not gone out and at the moment the existing federal law on tax on gambling profit is still intact. I wonder what could be the reason for such or he wants to increase the rate of gambling in US. US is already one of the leading gambling countries and to remove such tax will mean more people will gamble in US and increase in casino investment

[Haunebu]

Firstly, take whatever that orange clown says with a huge grain of salt. Secondly, he is probably thinking of doing that primarily because their gambling sector(Las Vegas) took a huge hit recently thanks to his tariff crap. I doubt he would actually go through with it though.

Why? Because there are some factors to consider. It would be insanely hypocritical if it were to actually happen after all of his tariffs for sure.

[robelneo]

If this happens, it may attract more players and boost gambling activity in the US. Because I won’t lie, keeping 100% of winnings instead of handing some portion to the government is really cool.

He is still planning it, is open to it, and is likely to approve it, as this stat shows he will satisfy the majority of gamblers. As a businessman, he understands the dynamic of satisfying an industry, and this number will grow, making the gambling industry more robust.
Trump's approval rating keeps plummeting, and easing tax policy is one way to alleviate it.

Nearly 60% of all American adults gambled in the past year, according to the American Gaming Association, with 30% gambling at a physical casino and 21% placing sports bets.

Trump says he will 'think about' eliminating tax on gambling winnings

[dimonstration]

This is interesting news, I just came across this not quite long.. If the US remove taxes on gambling winnings, that would be good news for gamblers based in US. Because ive hear people complain that paying tax after they win always felt like a second loss, especially on big wins.

If this happens, it may attract more players and boost gambling activity in the US. Because I won’t lie, keeping 100% of winnings instead of handing some portion to the government is really cool.

source

This is a good move because they are already charging taxes to the casino based on their profit which means players money including the profit is already have taxed.

Taxing the profit is disadvantageous to players since most of them suffer huge losses before they can win that huge amount.

It’s a reward for taking risk while government doesn’t gave cashback when players losses. 

[freedomgo]

Good move, this was long overdue. Gamblers don’t win all the time, most of the time we actually lose, so it never really made sense to heavily tax someone just because they got lucky once.No taxes on winnings just feels more reasonable. The state already has plenty of ways to collect money if they can implement their tax system properly, there’s no need to squeeze gamblers even more on their rare winning days.

[tvplus006]

...If this happens, it may attract more players and boost gambling activity in the US. Because I won’t lie, keeping 100% of winnings instead of handing some portion to the government is really cool.

It should not be forgotten that in order for this proposal to become law, it is necessary that the House of Representatives and the Senate vote for it. Therefore, it can be assumed that not all of Trump's proposals will automatically become law.

[VashaUdacha777]

This is interesting news, I just came across this not quite long.. If the US remove taxes on gambling winnings, that would be good news for gamblers based in US. Because ive hear people complain that paying tax after they win always felt like a second loss, especially on big wins.

If this happens, it may attract more players and boost gambling activity in the US. Because I won’t lie, keeping 100% of winnings instead of handing some portion to the government is really cool.

source

Hi ) 

That would actually be great news! Nobody likes giving away part of their winnings, especially when the tax is as high as 20%. President Trump would definitely boost his popularity among gambling fans. But I don’t think it will happen, because that’s too much money for the state to give up. Maybe the tax will just be reduced, but I really doubt it will disappear completely.

[Alphakilo]

...If this happens, it may attract more players and boost gambling activity in the US. Because I won’t lie, keeping 100% of winnings instead of handing some portion to the government is really cool.

It should not be forgotten that in order for this proposal to become law, it is necessary that the House of Representatives and the Senate vote for it. Therefore, it can be assumed that not all of Trump's proposals will automatically become law.

If Trump can share a more deeper reason why he thinks it is okay to remove all taxes on gambling winnings, then the house has nothing more to do than to sign it into law. Am sure however that gambling platforms would have to keep paying their revenue taxes to the government but whether this will also increase it or reduce the amount paid is what we wait to see if this is passed into law.

[Fortify]

What would be better and actually benefit more people is overhauling the archaic tax system within the USA, where everyone has to file taxes individually and navigate a labyrinth of complex tax laws themselves. Most other countries have the employer do the main tax filing and it is only in a few additional circumstances that it gets any more complicated than that. As always, you have to wonder why he is targeting such a relatively niche market - firstly to buy votes of reckless people because he's probably polled some association that they support republicans and secondly because he is probably angling his hotel business to profit from this change in different ways.

[Botnake]

If Trump can share a more deeper reason why he thinks it is okay to remove all taxes on gambling winnings, then the house has nothing more to do than to sign it into law. Am sure however that gambling platforms would have to keep paying their revenue taxes to the government but whether this will also increase it or reduce the amount paid is what we wait to see if this is passed into law.

I think that he can say something like this...

If taxes on winnings are removed, you could say it encourages people to gamble more. And when people gamble more, casinos make more money since they already have the edge. If casinos generate more profit, then the government ends up collecting more taxes anyway. That’s the simple explanation, for sure they will sign it.

[FirmWars]

I'm just seeing the news here and right now, what I concluded about this is that, Trump might not remove tax on gambling winning, the reason why I think so is because of those gamblers that luckily win millions of dollars every once in a while, just take for example, some gamblers win up to $100m, he will not consider such earnings as a tip, I guess he must have thought about that, that's why he is saying that he will think about it and doesn't want to completely say yes that he will cute down of winning tax in gambling. Lately, someone won $400k from the prediction market, assuming they are not going to tax such money? Those kind of wins gave them the interest to tax on gamblers.

[alegotardo]

This is interesting news, I just came across this not quite long.. If the US remove taxes on gambling winnings, that would be good news for gamblers based in US. Because ive hear people complain that paying tax after they win always felt like a second loss, especially on big wins.

If this happens, it may attract more players and boost gambling activity in the US. Because I won’t lie, keeping 100% of winnings instead of handing some portion to the government is really cool.

source

It would be great, but so far all of this is just a rumor, right?
As far as I remember, Trump only commented last month that he would "consider eliminating" this federal tax, but honestly I think that's very unlikely because it goes against the 2026 rule that was recently approved by the Republican fiscal package limiting the deduction of losses to 90% of the total, that is... 10% of the total amount earned in the year becomes taxable income even for those who had losses during the period.

This same guy who posted the rumor had already spread rumors of zero tax in the past on cryptocurrencies and other American tokens, something that was also unfounded and came to nothing.... so, be realistic: the gains continue to be taxable and currently the government has tightened taxation on gambling. So it would be very good to have something contrary, but at the moment this is not possible, it is just a rumor.

[coin-investor]

In that interview, he says he is open to that, so he is not definite on it, although there are tax cuts embodied in The One Big Beautiful Bill Act (OBBBA) its still unclear if this will be included, the US citizens are one of the biggest spenders in gambling, and they could face a tax deficit without it.
This is the dream of every gambler: no taxes on their winnings. Ours is 10-20% of your winnings, and other third-world countries are unlikely to impose these taxes because vice sectors are the easiest to tax and generate revenue.

[mcdouglasx]

Those are typical political responses; they neither confirm nor close the issue, leaving it open to create the debate we're seeing here.

While in reality, it's most likely that everything will continue as it has for years, and the proposal will remain just a possibility.

Personally, it would be great if winnings weren't taxed, for the player. I've always thought the casino could cover that part of the fee and still be profitable.

[Eternad]

In that interview, he says he is open to that, so he is not definite on it, although there are tax cuts embodied in The One Big Beautiful Bill Act (OBBBA) its still unclear if this will be included, the US citizens are one of the biggest spenders in gambling, and they could face a tax deficit without it.
This is the dream of every gambler: no taxes on their winnings. Ours is 10-20% of your winnings, and other third-world countries are unlikely to impose these taxes because vice sectors are the easiest to tax and generate revenue.

The title of the thread contradicts to what you share here which is a crucial information. Planning is different to considering since we all know that Trump considers a lot but his action is always not the same just like what happened when he hype the whole Bitcoin community by making Bitcoin reserves and many speculate that US will purchase huge amount of Bitcoin.

In the end, the reserve will just come from the seize Bitcoin on scam sites and illegal operations.

It’s too early to consider this since it’s not logical for them to cut their source of tax while they are boosting their economy. They even increase tariffs.

[Dr.Bitcoin_Strange]

Well, if he is going to do this, then it's fine. I think every gambler or most gamblers agrees that gambling wins are not supposed to be taxable because the winning is based luck and not a consistent or sustainable source of income. In my country, winning is not taxed, what ever I win, I'm able to withdraw all the money I won. Trump has  not concluded to stop taxing gambling wins and we should not conclude that he has plans to, the option is open like he said, he could stop it or not.