A small provision added to President Donald Trump’s “One Big Beautiful Bill Act” — that came to light days before the president signed the bill into law July 4 — could have a major impact on sports betting.

President Trump's "big, beautiful bill" legislation hasn't hit the jackpot with gamblers and the wider gaming industry. The big picture: Gamblers are angry over a provision that could see bettors lose money even when they come out ahead during tax time — something that lawmakers are already making moves to repeal.

The bill extends portions of the Tax Cuts and Jobs Act, provides deductions to eliminate income taxes on certain tips and overtime pay, and addresses other tax priorities of the Trump administration.