Oscar the Grouch

Grouchy

[Oscar the Grouch @BubbaHPope]

@TheWapplehouse I live in the same area as you, where did you get this?

[Oscar the Grouch @BubbaHPope]

@SamGreenwoodRIO @ChipBurglar I think it depends on how much AK you can put in his range preflop. Seems like the very early stages based on stack depth so I think we can bet ~100k and hope for the crying call from AK, and KTs. If you think he mostly 5bets AK pre then feels like a check back

[Dina Titus @repdinatitus]

Earlier this year the BS Budget Bill reduced the tax deduction for gambling losses to 90%.

In response, I introduced the FAIR BET Act to restore the commonsense 100% tax deduction to protect professional and recreational gamblers. I was the first in Congress to introduce this fix and haven’t stopped garnering support from members and stakeholders since.

In fact, the #FAIRBETAct has up to 21 bipartisan co-sponsors with @RepEzell most recently joining!

It is now critical for @WaysandMeansGOP to add this bill to the legislative calendar before the year ends. We must get this fixed.

[Oscar the Grouch @BubbaHPope]

@ClubWPTGold Obviously Hellmuth

[ClubWPT Gold @ClubWPTGold]

WE'VE AWARDED OVER 500K IN THE DAILY DOUBLE PROGRESSIVE JACKPOT 🤑

To celebrate, we're giving away five 110 Chip 🎟️

Retweet and let us know who would win b/w Phil Hellmuth and 500 cheeseburgers🍔

[Oscar the Grouch @BubbaHPope]

@SamGreenwoodRIO Makes sense, I had not considered we have to be tighter otf because button is betting less 3 ways vs hu

[Oscar the Grouch @BubbaHPope]

@jfourtwoninem @br_betting Also has a tiny sliver of southern Italy for pizza and pasta

[Eric Nathan @BarstoolNate]

18 players including @hen_ease who said he’s never played poker before in his life. $30k for first. On the @stoolgambling channel at 6pm EST‼️

[Barstool Gambling @stoolgambling]

The Barstool Sports King Of The Felt Poker Tournament presented by @DraftKings https://t.co/3KkpWoHNDW

[Eric Nathan @BarstoolNate]

Next Tuesday: 18 person Barstool SnG.
Next Wednesday: Me vs Dave $20k heads up.
Streaming live.
More as I hear it.

[Scott Seiver @scott_seiver]

https://t.co/H5b8l7wK56
The @NPR article on growing talks about repealing the 90% Tax issue has come out. I was interviewed for it to give context and also quoted. It’s a good article that shows how people are actually both caring and wanting to understand how devastating this would be the industry. It’s nice to get to feel that your voice might be heard and hopefully voices in the industry continue to work and push to keep this in the forefront for people. Thankful for @RealKidPoker and @russcfox quotes here and @DougPolkVids more recent interview he uploaded. There’s a clear energetic shift compared to what happened during UIGEA and has highlighted how congressmen and senators can and will be graded on riders on bills that are genuinely too long and cumbersome to be expected to be fully understood. I remain optimistic that the right thing will be done here and that this will be changed in time.

[Dina Titus @repdinatitus]

The FAIR BET Act has received bipartisan support, national attention, and praise from gambling professionals.

Now, Congress needs to listen and pass this commonsense policy that treats gamblers fairly in the tax code. #TitusTalk

[Senator Cortez Masto @SenCortezMasto]

It used to be that if you won $10,000 gambling, but lost $10,000 in the same year, you wouldn't owe taxes on that money.

But with the new Republican tax hikes, you would owe taxes on $1,000 in "earnings" you never had. It doesn't make sense, and I'm working to repeal it.

[Dina Titus @repdinatitus]

The FAIR BET Act is not ideological. It is just fair, good tax policy.

[Dina Titus @repdinatitus]

On Monday I’m introducing the FAIR BET Act, the Fair Accounting for Income Realized from Betting Earnings Taxation Act, to permanently restore the 100% loss deduction from gambling winnings.

I welcome all other members to join this common sense fix.

[Doug Polk (Code Doug) @DougPolkVids]

Poker Is Under Attack In America

Here’s my video about it: https://t.co/o74UtEJfLX

[Nate Silver @NateSilver538]

RT for awareness. Tax code is already punitive to poker players (you get taxed on winning years but can't write off losing years unless you file as a pro; it's easy to have a down year even as a good player) and Senate-passed version of OBBBA would make it considerably worse.

[Matt Glantz @MattGlantz]

The new federal tax proposal on gamblers in the current Senate bill, often referred to as the “Big, Beautiful Bill,” introduces significant changes to how gambling winnings and losses are taxed:

Limits on Gambling Loss Deductions: The Senate version would permanently limit the deduction of gambling losses to 90% of gambling winnings. This means that both casual and professional gamblers could only deduct up to 90% of their winnings as losses, rather than the full amount as under current law1.

Professional Gamblers: For professionals, the total of losses and business expenses could not exceed 90% of gambling winnings. For example, if a professional gambler had $500,000 in winnings, $440,000 in losses, and $50,000 in business expenses, they would have to pay tax on $50,000 of income, not just the net $10,000 as previously allowed1.

Key effects:

Casual gamblers who break even over the year (equal winnings and losses) would now owe tax on 10% of their winnings.

Professional gamblers would be taxed on a minimum of 10% of their winnings, regardless of actual net profit after losses and business expenses.

Note: These provisions are in the Senate version of the bill and are not present in the House version, so they may change during the legislative process1.

Additionally, there is discussion about raising the federal excise tax on gambling wagers from 0.25% to 5%, which would significantly increase the tax burden on each bet placed, but this is presented as a policy option and not confirmed as part of the current bill2. Conversely, a separate bill has been introduced to repeal the existing 0.25% federal excise tax on sports betting, but this is unrelated to the Senate’s current proposal3.

In summary:
The new Senate bill proposes to limit gambling loss deductions to 90% of winnings, effectively ensuring that at least 10% of gambling winnings are always taxable, a significant change from current law where losses can fully offset winning

[Liv Boeree @Liv_Boeree]

Love watching professional poker players at their craft? Well this bill will put an end to that