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United States: The impact of Donald Trump’s One Big Beautiful Bill on the incomes of professional gamblers

A discreet but far-reaching change has crept into the One Big Beautiful Bill, Donald Trump’s ambitious tax reform plan: from 2026, punters will no longer be able to deduct all their losses, but only 90%. In practical terms, many gamblers will find themselves taxed on ‘phantom income’. This measure, designed to replenish the State’s coffers, is provoking anger, concern and counter-attacks.

Economy
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United Kingdom: A fatal tax increase for horse racing? 

Since April 2025, the British Horseracing Authority (BHA) has been sounding the alarm: the British government is planning to merge taxes on online betting, raising the tax on horse racing betting from 15% to 21%, the same rate as for casino gambling. This change would represent a loss of at least £66 million a year (around €76 million) for the industry, with a risk of £160 million (€185 million) if the rates rise further.

Economy