Mansa Bets

WE HAVE WON THE WAR FOR A 77TH TIME THIS MONTH

DK's response to the actions of @MassGamingComm's new policy on "limiting" is an aggressive campaign featuring Boston fans) to redefine the word, and make themselves into the sober good shepherds in the room. We live in shameless times.

Massachusetts unanimously approved a regulation that requires sportsbooks to notify bettors within 48 hours of limiting their account. It will come with almost stunning granular guidance backing the reg. Goes into effect on June 1, pending waiver requests from sportsbooks. 🧵

2 signatures down, 216 to go.

.@HouseGOP leadership will not allow a vote on my #FAIRBETAct as an amendment to other bills or legislative packages. That is why I filed a discharge petition to force a floor vote on this bipartisan, commonsense fix. We must get this done.

My FAIR BET Act has been sitting in @WaysMeansCmte for eight months, despite commitments from @HouseGOP to restore the full gambling loss deduction. I am now filing a discharge petition to bring it to the House floor for a vote. Both high-stakes and hobby gamblers are struggling, and local economies like #OnlyInDistrictOne that depend on gaming revenue are hurting. We need 218 signatures to bring this commonsense fix to the floor. Call your representatives and tell them to sign on. clerk.house.gov/DischargePetit…

Gambling tax loss 90% deduction cap has another chance of being reversed today in the House Rules Committee. Reps. Miller (R-OH) & Horsford (D-NV), who intro'ed FULL HOUSE Act, filed it as amendment to DoD appropriations bill. They are now joined Malliotakis (R-NY) & Lee (D-NV).

Me: Read this file and summarize it. ChatGPT: You’re working too hard, take a break with this special offer from Southwest Airlines to visit a Disney Resort! Offer valid February 1-15th. Me: No, read this document and summarize it. ChatGPT: You’re right! But while I read your document, get 15% off your next McDonalds visit with code LOSER

Reminder that you have just 1 day left to bet on Josh Allen as a dog vs Bo Nix in a Playoff game

All of this is nuts, but these two facts are especially mindblowing: - One gambling consultant tells The Economist that “By the time a customer places his first bet, [sportsbooks] are 80-90% certain they know the lifetime value of the account.” - Sportsbooks mathematically monitor players and creates a new risk score every 6-8 hours (risk score = estimate of probability that customers will wind up unprofitable). It's wild how unsophisticated and lazy banks are at understanding their customers, compared to other industries. Though perhaps that's ultimately a good thing.

I introduced an amendment to this week’s Appropriations minibus to restore the gambling loss tax deduction to 100%. This fix has bipartisan support including Members from the House Appropriations Committee. There are now multiple avenues that we can take to get this done. We have no excuse but to pass this fix immediately.

If the app is letting u use a 50% boost on a $500 wager u might be the worst bettor of all time

.@RepJasonSmith, please include this fix for gamers in tomorrow's @WaysMeansCmte markup. Let's get this done.

🎲 Since the Senate inserted a provision in the Big, BS Budget Bill to lower the gambling loss deduction to 90%, I have been leading the bipartisan, bicameral effort to correct this unfair tax policy so that gamers do not have to pay taxes on phantom income. Now I am again urging @RepJasonSmith to finally do what’s right and include a fix in the next @WaysMeansCmte markup that protects many livelihoods #OnlyinDistrictOne.

Exciting news for the #FAIRBETAct and the gaming community. The Chairman of the House Appropriations Committee, @TomColeOK04, has just co-sponsored my legislation to rightfully restore the tax code for gamers. Nobody should have to pay taxes on phantom income. Let’s get this done.

Hey @grok, remove the player that doesn't show up in big matches

Hey @grok, delete all the stolen Ballon D’ors from this image.

Hey @grok, remove the corrupt club from the picture

Earlier this year, the Big, BS Budget Bill changed how gambling losses are taxed by capping the deduction at 90%. That means some gamblers will owe taxes on money they never actually earned when they file starting in 2027. But we still have time to fix this. As long as we restore the tax deduction on gambling losses to 100% by the end of 2026, this unfair tax hike never takes effect. I’ll keep fighting next year to get my bipartisan #FAIRBETAct passed.

Massachusetts regulators have advanced a rule requiring sportsbooks in the state that limit bettors to give "specific explanations" as to why and a list of markets in which they're banned, a small step toward a potentially more robust push to manage how sportsbooks deal with winning bettors; this will not prevent books from limiting bettors; Massachusetts is the first state to pursue any such a measure regulating how books limit bettors