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Started By
Message
DraftKings and FanDuel are basically not options effective 1/1/2026
Posted on 1/4/26 at 3:40 pm
Posted on 1/4/26 at 3:40 pm
Its crazy that anybody would play now.
Starting this year, the "One Big Beautiful Bill" Act (OBBBA) caps your gambling loss deductions at 90% of winnings.
Why it's no longer feasible to play on legal sites:
Phantom Income: Even if you break even (e.g., win $10k, lose $10k), the IRS treats that final $1,000 of losses as taxable income. You're literally paying taxes on money you don't have.
Operator Surcharges: DraftKings is already passing the cost of high state taxes to you through surcharges on winning bets in places like Illinois and New York.
Reporting Hikes: The IRS now uses a unified $2,000 threshold for reporting sports betting wins, making it harder to fly under the radar.
Basically, the "vig" isn't just in the odds anymore—it's in the tax code. Unless you're hitting massive dongs on every parlay, the math is looking pretty cooked.
Starting this year, the "One Big Beautiful Bill" Act (OBBBA) caps your gambling loss deductions at 90% of winnings.
Why it's no longer feasible to play on legal sites:
Phantom Income: Even if you break even (e.g., win $10k, lose $10k), the IRS treats that final $1,000 of losses as taxable income. You're literally paying taxes on money you don't have.
Operator Surcharges: DraftKings is already passing the cost of high state taxes to you through surcharges on winning bets in places like Illinois and New York.
Reporting Hikes: The IRS now uses a unified $2,000 threshold for reporting sports betting wins, making it harder to fly under the radar.
Basically, the "vig" isn't just in the odds anymore—it's in the tax code. Unless you're hitting massive dongs on every parlay, the math is looking pretty cooked.
This post was edited on 1/4/26 at 3:41 pm
15
Posted on 1/4/26 at 3:42 pm to SirWinston
Yeah screw that. I've always used illegal books anyways
Posted on 1/4/26 at 3:44 pm to Mr Roboto
The illegal offshore books are shady in different ways and theres always a risk they could be shut down / seized (especially by a Trump admin) but its essentially the only way to play now.
They gave us no choice
They gave us no choice
This post was edited on 1/4/26 at 3:45 pm
Posted on 1/4/26 at 3:47 pm to SirWinston
Regressive taxes on the poor and degenerate—“beautiful”
Posted on 1/4/26 at 3:47 pm to SirWinston
You could just not engage in degeneracy
This post was edited on 1/4/26 at 3:48 pm
Posted on 1/4/26 at 3:47 pm to The Third Leg
Prediction markets aren't gambling, or at least that's what the companies that run them claim.
Posted on 1/4/26 at 3:53 pm to SirWinston
Obsessing over gambling is gay
Posted on 1/4/26 at 4:08 pm to SirWinston
I don't think it's their intention, but I think it will be better for our country as a whole if gambling becomes less incentivized.
In the name of having every single possible "freedom," our country is becoming a massive shithole.
In the name of having every single possible "freedom," our country is becoming a massive shithole.
Posted on 1/4/26 at 4:13 pm to SwaggerCopter
I dont gamble nearly enough for this to matter
Posted on 1/4/26 at 4:22 pm to SirWinston
I can only play DFS on those sites where I live.
If I actually want to put a bet down I'll just go over to Biloxi.
I only go a couple of times a year now during football though.
If I actually want to put a bet down I'll just go over to Biloxi.
I only go a couple of times a year now during football though.
Posted on 1/4/26 at 4:29 pm to SirWinston
They never should have been an option. That's on you for gambling electronically. Even if you ignore the ignorance of leaving a paper trail, the ease and lack of human interaction is unhealthy.
Handing/Being handed over actual cash to a real person to initiate/get paid off on the wager should be part of the thrill. Not to mention the above mentioned paper trail is eliminated if you stay under/spread out your wagers.
Handing/Being handed over actual cash to a real person to initiate/get paid off on the wager should be part of the thrill. Not to mention the above mentioned paper trail is eliminated if you stay under/spread out your wagers.
Posted on 1/4/26 at 4:38 pm to SirWinston
quote:
The illegal offshore books are shady in different ways and theres always a risk they could be shut down / seized (especially by a Trump admin) but its essentially the only way to play now.
There are plenty ways to gamble illegally. My Uncle Leo will gladly take your cash wagers (and the vig). The IRS need not be a party to the transaction. And unless you count his run in with them and resulting 18 month mandatory attendance at a federal country club in Tallahassee back in the 80's, it is like they don't even exist.
Posted on 1/4/26 at 4:43 pm to SirWinston
Miriam Adelson making that $250M donation go a loooong way.
Posted on 1/4/26 at 4:43 pm to SwaggerCopter
quote:
I don't think it's their intention, but I think it will be better for our country as a whole if gambling becomes less incentivized.
I don’t disagree but this is a hidden tax that average people have no idea exists. It’s extremely dishonest by the government to tax a legal endeavor beyond profit
Posted on 1/4/26 at 4:49 pm to Jack Ruby
Bundling vs. Standalone: Miriam Adelson reportedly wants sports betting to be tied to casino legislation. She is less likely to support standalone sports betting bills—which DraftKings and FanDuel prefer—because they might reduce the political pressure to approve her multi-billion-pound casino projects.
Posted on 1/4/26 at 5:05 pm to SirWinston
Most people are not keeping track of wins and losses. The books are not sending W-2s or 1099s anyway.
Posted on 1/4/26 at 5:14 pm to Dr Rosenrosen
Yeah I’ve had friends hit massive parlays they didn’t even give 1099s to, this law doesn’t really affect the masses until they crack down on the books and their reporting….which I’m sure they eventually will 
Posted on 1/4/26 at 5:27 pm to SirWinston
Miriam also wants to take free and open gambling back to Vegas, and kill all her competition.
Posted on 1/4/26 at 5:34 pm to SirWinston
I don’t bet amounts large enough for this to affect me.
Posted on 1/4/26 at 9:59 pm to Mr Roboto
quote:
Yeah screw that. I've always used illegal books anyways
Locals = better juice and it can be on credit which can be a good or a bad thing. And it’s anonymous.
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