Episode 51: Dina Titus on the Fair Bet Act
Summary
Episode 51 of World Series of Politics features Congresswoman Dina Titus discussing her Fair Accounting for Income Realized from Betting Earnings Taxation (Fair Bet) Act. Hosts Brandt Iden and Brendan Bussmann hear Titus outline why she is fighting a Senate tax change that would cut the gambling-loss deduction from 100% to 90%, a move she says would effectively tax players on phantom winnings.
Article Date: Mon, 04 Aug 2025 13:00:00 +0000
Author: Robin Harrison
Image: iGB
Key Points
- • The Fair Bet Act is Congresswoman Dina Titus’ response to a Senate tax provision reducing the allowable deduction for gambling losses from 100% to 90%.
- • Titus describes the Senate change as unfair to players, calling the earlier move the “big, bad, beautiful, bullshit bill.”
- • The reduction would mean many bettors are taxed on so-called phantom winnings, raising concerns for everyday players and the regulated gambling sector.
- • Bipartisan support is building to reverse the provision, with backing from tribes, gaming companies and the American Gaming Association (AGA).
- • The bill aims to prevent the change from taking effect in 2026 and to protect players, communities and the future of regulated gambling in the US.
Content Summary
Congresswoman Dina Titus returns to the podcast to explain the Fair Bet Act and why she’s pushing to restore the full 100% deduction for gambling losses. She frames the Senate tax tweak as a stealth attack on bettors that would create tax liabilities on phantom gains and undermine consumer confidence in regulated markets.
Titus stresses that this fight isn’t just about the gambling industry’s bottom line — it’s about fairness for everyday players, supporting communities that benefit from regulated wagering, and preserving a stable regulatory environment. The episode also highlights the growing coalition — including tribes and the AGA — pressing Congress to act before the change kicks in in 2026.
Context and relevance
This episode sits at the intersection of taxation, consumer protection and gambling regulation. The proposed tax change could have practical consequences for anyone who bets — altering how losses are claimed and potentially increasing tax bills. For operators and stakeholders, the debate matters because it affects consumer confidence, regulatory stability and the economics of the US betting market.
Why should I read this?
Short version: if you care about bettors getting a fair deal (and about avoiding weird ‘phantom’ tax bills), this is worth your time. Titus lays out why a seemingly small tax tweak could hit players and the regulated market hard, and why there’s momentum to stop it. We’ve done the listening for you — it’s quick, sharp and it explains what could matter to bettors and the industry come 2026.