Tax On Poker....Can Players pay this and beat the Game ?

[FUN4FRASER]

I was Pretty Surprised how bad this is

Results of WSOP 2015 main event and the tax stopped mainly by the American Government

Winner   Before-Tax Prize      After-Tax Prize
1. Joe McKeehen    $7,683,346       $4,297,394   USA
2. Joshua Beckley   $4,470,896       $2,389,177   USA
3. Neil Blumenfield   $3,398,298     $1,805,764   USA
4. Max Steinberg   $2,615,361        $1,543,306    USA
7. Pierre Neuville   $1,203,293        $1,203,293  Belgium
5. Ofer Zvi Stern   $1,911,423         $1,011,317   Israel
6. Thomas Cannuli   $1,426,283      $785,996  USA
8. Federico Butteroni$1,097,056      $571,566  Italy
9. Patrick Chan        $1,001,020       $545,614   USA
Totals                   $24,806,976       $14,153,427

Only the Belgium guy kept  all his winnings whereas everybody else lost 45% or more to tax

Scary figures ,unless you're a tax exempt country it must be borderline impossible to win ?

Possible this will eventually happen in The UK  ?

[The Camel]

Americans can claim back tax for loses on the fiscal year I believe.

So McKeehan should be freerolling holidays all over the planet for the next 12 months knowing the trips are tax deductable.

The countries where poker is absolutely unbeatable are the ones who just tax each win, like Greece, Spain, Holland, Norway and Sweden.

[lucky_scrote]

Yeah I believe some countries tax each win or tax by the month. As an mtt player that would make it downright impossible to win.

As poker is becoming more recognisable as a skill game by the courts it will also be considered a way of living and become taxable. It really is a matter of time before this happens and it will make live poker become ever so more appealing since hotels and flights will become deductible and for another obvious reason.

[lucky_scrote]

Wow this just in: http://www.pokernews.com/news/2015/11/court-rules-poker-the-netherlands-malta-23511.htm

Pretty stoked obviously since I partially live here and might end up living here permanently one day.

[FUN4FRASER]

Wow this just in: http://www.pokernews.com/news/2015/11/court-rules-poker-the-netherlands-malta-23511.htm

Pretty stoked obviously since I partially live here and might end up living here permanently one day.

Good News ,  wonder if there was a Belgium influence , both countries speak Flemish I recall ?

[lucky_scrote]

Wow this just in: http://www.pokernews.com/news/2015/11/court-rules-poker-the-netherlands-malta-23511.htm

Pretty stoked obviously since I partially live here and might end up living here permanently one day.

Good News ,  wonder if there was a Belgium influence , both countries speak Flemish I recall ?

I'm afraid not. Flemish isn't a language

[doubleup]

As poker is becoming more recognisable as a skill game by the courts it will also be considered a way of living and become taxable.

no it won't.

[RED-DOG]

As poker is becoming more recognisable as a skill game by the courts it will also be considered a way of living and become taxable.

no it won't.

It's always panto season for Dave.