Once again, the Gods spread cheeks and ram Taxes in
I like pain. That’s why I gamble at Caesars and file with the IRS.
Under the new One Big Beautiful Bill Act, gamblers can only deduct 90% of their losses starting in 2026. That means if you win and lose the same amount, you still owe tax on 10% of your winnings.
Break even? That’s adorable. The IRS calls that income now.
You Win $10K. You Lose $10K. You Owe on $1K.
Because Nothing Says “Fair” Like Getting Taxed on Zero.
The government invented a new income bracket:
“Delusional.”
You didn’t make money. You didn’t even keep money.
But you’ll still get taxed. Because when you play at Caesars, the house doesn’t just win.
It invoices you.
Phantom Income Is Real. Your Balance Isn’t.
There’s no warning. No alert. No popup when you bet.
Caesars won’t tell you. They’re too busy emailing you offers for 5% cashback on your own funeral.
But starting January 1, 2026, if you itemize deductions and you’re still gambling at Caesars, the IRS considers you a high-value target. Not for your money. For your delusion.
Who’s Screwed?
- People who itemize
- People who gamble professionally
- People who lose a lot but pretend they’re “due”
- Me
If you don’t itemize? You were already paying taxes on your full winnings with no deductions.
Congrats. You’re ahead of the curve…in the race to financial ruin.
The Deadline Is December 31, 2025
That’s your last chance to lose money like a normal person. After that, the IRS charges you for the air you breathed while losing.
TL;DR: Caesars Palace Is a Tax Prep Site With Slot Machines
This law starts January 1, 2026. There’s no repeal. No fix.
And no one’s coming to save you.
But if you love gambling, love taxes, and hate math: Caesars is ready.
They’ve got the drinks.
They’ve got the games.
And now, they’ve got the IRS on speed dial.
