Illinois Gov. J.B. Pritzker revealed he won $1.4 million playing blackjack, a popular casino card game. “It was in Las Vegas and I like playing cards,” Pritzker told reporters Thursday (16) after releasing his 2024 tax returns.
He added: “I went on vacation with my wife, with some friends, and I got incredibly lucky. You have to be lucky to come out ahead in any casino.”
Pritzker, heir to the Hyatt Hotels fortune, is worth $4.8 billion (R$26 billion), according to the Bloomberg Billionaires Index. Before taking office, he and his brother Tony ran the Pritzker Group, a Chicago-based venture capital and private equity firm.
A campaign spokesperson said Pritzker plans to donate all of his blackjack winnings to charity. The governor emphasized that he has no problem disclosing the amounts in his tax returns, as the public already knows his financial situation. “I think people have known since I was elected and for some time now that I’ve been very fortunate in my life,” Pritzker said.
Now 60, Pritzker was first elected governor in 2018 and is running for a third term in the upcoming election. He receives no salary for his position, emphasizing that his casino earnings do not interfere with his public duties.
Adjustment in the taxation of gambling in the United States
In July, taxation of the gambling industry in the United States underwent significant changes. Donald Trump signed a law that changed the taxation of gambling winnings, impacting both recreational and professional gamblers. The new rule taxes even those without actual profits, as it limits the deduction of losses to 90% starting in 2026.
The new rule, set forth in Section 70111 of the “One Big Beautiful Bill,” applies to the total volume of activity rather than just net income. Consequently, a bettor who records $100,000 in winnings and losses now has $10,000 in taxable income.
According to sports finance expert Joe Pompliano, at a 24% federal tax rate, that works out to $2,400 in tax, even without any actual gain.
The measure affects the entire national market, including physical casinos and online platforms, and is expected to reduce profits for professionals while imposing stricter conditions on casual casinos.
