Sports betting losses
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Can You Write Off Sports Betting Losses?
Short answer: Yes, as gambling losses: itemize, deduct up to winnings, and only 90% counts starting in 2026.
Download yearly win/loss statements from each sportsbook.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
BW-B22-00174
medium risk
Sports betting losses
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Individuals / Personal Taxes
Other Expenses
Personal Tax Deductions
Yes, as gambling losses: itemize, deduct up to winnings, and only 90% counts starting in 2026.
BizWriteOffs provides educational information only and is not tax, legal, or accounting advice. Deductibility depends on your specific facts and records. Consult a qualified tax professional.
Business justification
Yes, as gambling losses: itemize, deduct up to winnings, and only 90% counts starting in 2026. Download yearly win/loss statements from each sportsbook.
Category
- Personal Tax Deductions
personal deduction
search demand 2026
losses
gambling