US Gambling Tax Change Leads Erik Seidel to Consider Cutting Back on Poker

A big shift in US gambling tax laws has an impact on the poker world, with Hall of Famer Erik Seidel hinting it might force him to cut down his career a lot. The long-time professional, known as one of the best players ever, says the new rule could make playing tournaments full-time too costly to keep up.

Erik Seidel Plans Smaller Poker Schedule After Tax Law Shift

The tax change, which was part of President Donald Trump’s big economic plan this year, will kick in come 2026. The new rules will let gamblers write off 90% of their yearly losses instead of all of them. While this might not seem like a big deal at first glance, poker professionals say it changes the math behind playing in tournaments.

Seidel, who has won over $48 million in live tournaments and has grabbed 10 World Series of Poker bracelets, points out that the rule might force players to pay taxes even in years when they break even or lose money, according to PokerNews. In real-world terms, a player who wins big sums but spends just as much to enter tournaments could still owe taxes on money that did not turn into actual profit.

While Seidel hopes lawmakers might undo the provision, he knows nothing is certain about a fix. So, he plans to cut his buy-in exposure a lot if the rule stays the same. Instead of often playing in $10,000 events and top high rollers, he will focus on smaller tournaments. He will still show up now and then at big events like the WSOP Main Event.

Poker Leaders Warn New Tax Law Could Push Pros Out of the Game

This problem goes way beyond one player’s plans. Seidel warns that young professionals, who spend years getting better with plans to grind tournaments, might end up shut out of the game. He is also worried that the policy could push some players to do sketchy things with their taxes. He thinks this outcome helps nobody.

Other big names share these concerns. Phil Hellmuth has criticized the rule, while Nevada politicians, including Representative Dina Titus, have tried to pass laws to bring back full loss deductions. Even with support from both parties, efforts to add a fix to essential bills have not worked out yet.

People who monitor the industry worry the effects could spread to casinos, tours, and online platforms. Big-money tournaments might have trouble getting American players, sponsorship and backing deals could get smaller, and total tax money might go down as top professionals play less or quit altogether.If Congress does not take another look at this issue, poker in the United States could change a lot within a year, with even its most famous players stepping away from the game.