Some states, such as North Carolina, already have differing rules on how the state defines and allows tax deductions for gambling. For instance, if the winning bet remains $1,000 and the losing bet is $600, the gambler previously reported $400 of income. However, the miscellaneous itemized deduction will now be capped at 90% of the loss starting in 2026, meaning that the deduction will only be $540 instead of $600. This smaller deduction lowers the gambler’s net income from this transaction by 15% from $400 to $340.
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Helldivers 2 is heading to Xbox on August 26, ending its tenure as a PlayStation 5 console exclusive after a little more than one year. Helldivers 2 is developed by Arrowhead Game Studios and published by PlayStation, so it wasn’t guaranteed to come to Xbox platforms at all. Since settling its launch issues in early 2024, Helldivers 2 has been quietly building up a sizable playerbase of intergalactic freedom fighters, with more than 15 million copies sold across PC and PS5. According to previous studies, roughly a quarter of all adults in the state had engaged in unregulated or illegal gambling in the past two years, highlighting the seriousness of the issue.
- And in May this year, Microsoft cut an eye-watering 6,000 staff, or 3% of its entire workforce.
- Sports betting apps like DraftKings, FanDuel, and Underdog have swarmed the market as states slowly roll out legalized gambling environments within their borders.
- But Rooney said that they were able to remove that through lobbying efforts.
- More recently, tribes have contributed $6.3 million to candidates since January 2023 while card rooms have donated at least $1.3 million.
- Scattered thunderstorms were anticipated at any point during today’s Mariners vs. Yankees game though these chances are 30 to 50 percent each hour and it is indeed possible weather will not impact this game.
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Native American tribes remain significant stakeholders, operating numerous casinos under tribal gaming compacts. Since its launch in 2005, casino life magazine has grown to become the leading business-to-business publication that focuses on Casino Operations and, Manufacturers and Suppliers of Gaming Equipment and Services. The debate over skill game machines in Virginia has taken another turn after a county judge ruled that the Queen of Virginia games are legal.
What a number of gambling aficionados pointed out on social media was that by limiting the tax deduction to 90% of losses, gamblers could actually owe taxes in years when they bestcasinositesonline bonuses netted losses on their bets. Latest news on Betting & Gambling, covering sports betting, casino gaming, online wagering, DFS, state regulations, responsible gambling and industry updates. Our readership consists of casino operators, gaming businesses and individuals who wish to stay informed in the fast-paced world of gambling.
Thus, we also provide you with the Gaming911 gaming Forum to discuss various topics. The ads came from independent expenditure committees funded by the card rooms. I’ve been looking forward to Time Flies since I buzzed my way through the demo at Summer Game Fest 2022. It’s a ridiculous little game that provokes poignant thoughts about human existence and pushes players to find joy in small moments, and it’s finally coming to PC, Switch and PS5 on July 31.
