Several figures in the poker world have criticized the tax change
Poker Hall of Famer Erik Seidel has raised concerns that a new US gambling tax rule could push him toward scaling back, or even stepping away from, tournament poker. The longtime pro says the change creates financial pressure that makes high-level play far less practical.
The issue centers on a federal tax provision set to begin in 2026 that limits how much gambling losses can be deducted. Under the rule, players can only write off 90% of losses, even if they finish a year without real profits. That gap could leave players owing taxes on money they never truly earned.
Seidel believes the policy could also create unintended consequences. He warned that confusing rules may encourage inaccurate tax reporting, something he views as bad for both players and the system. He added that most professionals already take compliance seriously and pay significant taxes.
While hopeful lawmakers may revisit the measure, Seidel admitted there are no guarantees. If the rule stays in place, he expects to sharply reduce his schedule. That could mean focusing on smaller buy-in events and skipping high rollers entirely, a major shift for someone with decades at the top of the game.
Despite the frustration, Seidel made it clear he does not want to walk away from poker. He said the game still brings him joy, but the economics may force tough choices. He also expressed concern for younger players trying to build careers under the new rules.
Beyond individual players, Seidel worries about the wider impact on casinos and tournament series. Fewer professionals could mean smaller fields, less prize money, and lost jobs tied to the poker economy.
