Rake-Free Report #17: Trump’s New Tax Plan Is a Wake-Up Call for Players and Poker Rooms Alike

You ever win nothing and still owe taxes? Welcome to 2026.

The new tax rule—only allowing 90% of gambling losses to offset your wins—isn’t a technical adjustment. It’s a sucker punch to anyone who takes poker seriously. Doesn’t matter if you’re grinding 1/2 or flying to Vegas for WSOP. If you track your sessions, you already know: this rule hits where it hurts.

Let’s Break It Down:

• You win $100K.

• You lose $100K.

• Congrats—you’re even. But now the IRS says you can only deduct $90K. That means you owe taxes on $10K of money you never actually kept.

Depending on your bracket, you’re shelling out $2,200–$3,200… for breaking even.

Who’s Getting Hit the Hardest?

• Pros: Cold streaks now come with tax bills. You’ll need deeper bankrolls and better bookkeeping just to tread water. The best will adjust. Some will bounce.

• Recs: That “one time” you bink a $25K score after firing $20K+ all year? You might still owe tax. Makes chasing big fields look less fun, right?

What Changes on the Floor?

• Fewer re-entries.

• More players asking, “Do I get a 1099 for this?”

• Less gamble. More caution.

• Maybe even fewer new players sticking around—because the games are changing fast.

Will the Law Change?

Maybe. The FAIR BET Act is trying to bring back 100% loss deductibility. But betting on Congress to fix things is like bluffing a calling station—it might work, but don’t count on it.

What Can We Do?

• Support groups like the AGA or Poker Alliance.

• Educate each other. Tell your crew this isn’t just a high roller problem.

• Stay sharp. Track everything. Protect your grind.

Final Thought:
Poker’s always been about adapting. The real ones won’t whine—they’ll evolve. This is just the next obstacle in a game that never stops testing you.

And if we push back together, maybe—just maybe—we’ll get dealt a better hand next time.