Poker has always been a game of risk, but now it is also —and perhaps more so— on the fiscal front. The recent decision by Erik Seidel
At 66 years old and with 10 World Series of Poker bracelets, Seidel is not just any player. His argument is direct: the new regulation, part of the controversial “One Big Beautiful Bill,” allows only 90% of losses to be deducted. The result? “Phantom” income that forces taxes to be paid even in losing years. Nonsense for an activity where variance is law.
A clear example: if a player wins US$100,000 and then loses the same amount in buy-ins, they would technically be “break-even.” With the new regulation, they would have to pay taxes on US$10,000 which, in practice, do not exist as real profit. In elite poker, where margins are an issue, that impact can be devastating.
“The margin is really small,” explained the historic pro. And he backed it up with facts: from playing between 100 and 150 tournaments annually, he will now play just a fraction. In addition, he practically eliminated high rollers of US$25,000 or more. A clear sign: if someone like Seidel retreats, the rest could directly disappear from the competitive map.
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The problem is not just individual. Tax experts warn that this 10% difference can make the professional model unviable. And the gaming industry is already projecting greater impacts: studies suggest that the volume of sports betting could fall by up to US$18 billion annually.
Meanwhile, politics seems to be playing another game. During his recent visit to Las Vegas, President Donald Trump
The contrast is stark: while some propose completely eliminating deductions by considering gambling as entertainment, professionals and operators warn of a possible exodus of talent and liquidity.
The question remains: is the U.S. regulating poker… or slowly pushing it towards irrelevance?
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Source: Cardplayer.com
