1. The rise in sports betting over the past few years has been massive, but that growth could soon be halted in a major way.

If the government gets its way, gamblers (who wager legally) will be paying a lot more in taxes come 2026. A new bill would allow gamblers to deduct from their winnings an amount equal to 90% of their losses for a tax year. That means if you break even for a year, you’d still have to pay a 10% tax on the total money you won, regardless of losses.

Obviously, the more you bet in terms of dollars, the more you will be affected if the bill gets passed.

Professional poker player Phil Galfond explained the details and ramifications much better than I did in this video, which is a must-watch for regular sports bettors.

Unless I’m not processing this information correctly, the only people who would benefit from the bill would be the government and bookies, who could make a comeback once bettors stop using legal sportsbooks, such as DraftKings and FanDuel.

2. A new SI Media With Jimmy Traina podcast episode dropped today. This week’s guest is ESPN’s Jeremy Schaap.

Schaap talks about ESPN’s upcoming E60, Southpaw–The Life and Legacy of Jim Abbott, which covers the career of the pitcher born without a right hand who threw a no-hitter as a Yankee. Schaap also discusses another great E60 that he worked on, The Great Imposter, about the life of Barry Bremen, who was known for sneaking into various sporting events.

Other topics discussed with Schaap include his famous interview with Bobby Knight, whether he's ever come close to leaving ESPN, the story he missed out on that hurts the most, the state of journalism in 2025 and much more.

Following Schaap, Sal Licata from WFAN radio and SNY TV in New York joins me for our weekly "Traina Thoughts" segment. This week, we discuss the new price for NFL Sunday Ticket on YouTube, the "torpedo bats" discussion completely going away, 4th of July plans, celebrity encounters and more.

You can listen to the SI Media With Jimmy Traina podcast below or on Apple and Spotify.

3. Golfer Max Homa spoke nothing but the truth while discussing why he left X.

4. I can understand how some in sports media get fooled by a fake social media account when the prankster changes a lowercase “l” to a capital “I” or even the number “1” in a screen name because they look so similar. But how on earth do people fall for a “Scams Charania” fake account?

5. Jim Nantz’s “Hello Friends” is in midseason form despite the fact that we’re still a couple of months away from the NFL season.

6. A few housekeeping items. This will be the last Traina Thoughts until next Tuesday, so enjoy your 4th of July weekend. If you missed it on Wednesday, I did a mailbag answering all of your questions, so check that out. And if you missed any recent episodes of SI Media With Jimmy Traina, feel free to use the long weekend to catch up.

• The Athletic’s Richard Deitsch on all the latest sports media news:

• Independent sports journalist Joon Lee on what it costs to be a sports fan in 2025:

• ABC/ESPN’s Richard Jefferson on calling his first NBA Finals:

• Tony Reali on the end of Around the Horn:

7. RANDOM VIDEO OF THE DAY: Happy 4th of July.

Be sure to catch up on past editions of Traina Thoughts and check out the Sports Illustrated Media Podcast hosted by Jimmy Traina on Apple, Spotify or Google. You can also follow Jimmy on X and Instagram.


This article was originally published on www.si.com as Sports Bettors Could Take a Major Hit to Their Bottom Line.

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