How 2026's Surge in First-Time Bettors and New IRS Rules Are Shifting World Cup Odds
The 2026 World Cup will see a surge in first-time bettors and new IRS rules impacting gambling taxes, potentially shifting betting odds and creating 'phantom income'.Summary
The upcoming 2026 FIFA World Cup is expected to attract a record $150 billion in wagers, with a significant influx of first-time bettors (29% of U.S. bettors). This surge, combined with new IRS regulations, will likely shift betting lines and create a new tax burden for some. Previously, gamblers could deduct 100% of their losses, but starting in 2026, the IRS will cap gambling loss deductions at 90% of winnings, resulting in potential “phantom income” tax liabilities. The article highlights how increased betting volume could lead to lower odds on favorites, faster line movements, and potential platform slowdowns. It also details the current thresholds for reporting winnings ($2,000 and 300x wager) and emphasizes the importance of meticulous record-keeping to navigate the new tax landscape.
(Source：Kiplinger)