The real winner of the WSOP

#2 7th December 2008, 4:50 AM

No tax on poker winnings in the UK.

#3 7th December 2008, 5:47 AM

yea but who got the bracelet

#4 7th December 2008, 6:09 AM

Quote:

Originally Posted by NoWuckingFurries

No tax on poker winnings in the UK.

Not all that relevant here as none of the final table hail from the UK. although I did read somewhere that Eastgate did move to the UK before the final table played out so as to somehow minimize the tax impact. Not sure if it made a difference.

#5 7th December 2008, 7:10 AM

plus endorsements

#6 7th December 2008, 7:17 AM

i bet eastgate gets no endorsements

#7 7th December 2008, 7:18 AM

free tournies from PS maybe

#8 7th December 2008, 7:26 AM

i hope he has to pay 2x tournament fees for every lolament he enters from now on, as an extra tax for winning the main event and having no personality

#9 7th December 2008, 8:42 AM

They'll be able to offset their WSOP gains against all their online losses, so it's not so bad!

#10 7th December 2008, 9:59 AM

Wow, can you imagine having to forgo 73% of your winnings???

I wonder if the winner from Denmark can somehow avoid paying these taxes by changing his citizenship?

I don't know about you, but were this me, I would be hiring some of the best Intl. accountants and looking to do anything possible to maximize my take home earnings.

#11 7th December 2008, 10:23 AM

Sweden is really close to Denmark, but then from us should become even worst.
I don't like this at all

#12 7th December 2008, 1:39 PM

Quote:

Originally Posted by vanquish

i hope he has to pay 2x tournament fees for every lolament he enters from now on, as an extra tax for winning the main event and having no personality

lol, russian jealousyaments

#13 7th December 2008, 2:00 PM

Those numbers are crazy!!!!! I would agree with some in that, yes, he did win the bracelet, and yes many of them will get endorsements...but I doubt the endorsements will come in large numbers.......

In short, when you take the monetary reward away from poker, there really is not much left!!!

#14 7th December 2008, 3:52 PM

-EV to be Danish ..

#15 7th December 2008, 4:46 PM

wow!! I figured there were taxes on all the winnings but never realized how it all layed out!!! sheesh! Denmark! wow!

no taxes on gambeling winnings in the UK eh?! makes you wonder if 4 million would be enough $$ to make someone defect hahaha

#16 7th December 2008, 5:22 PM

Quote:

Originally Posted by vanquish

i hope he has to pay 2x tournament fees for every lolament he enters from now on, as an extra tax for winning the main event and having no personality

Haha this very funny.

Quote:

Originally Posted by RogueRivered

They'll be able to offset their WSOP gains against all their online losses, so it's not so bad!

And what if they are winning online players. I heard that Eastgate was playing at the $50/$100 limit HU online fairly successfully.

#17 7th December 2008, 6:49 PM

Quote:

Originally Posted by diamond_06_06

Not all that relevant here as none of the final table hail from the UK. although I did read somewhere that Eastgate did move to the UK before the final table played out so as to somehow minimize the tax impact. Not sure if it made a difference.

It will matter to me if I win it!

#18 7th December 2008, 6:50 PM

Quote:

Originally Posted by NoWuckingFurries

It will matter to me if I win it!

Absolutely. Very relevant. And very funny.

#19 7th December 2008, 6:54 PM

Nice to see you haven't lost your cutting wit...

#20 7th December 2008, 7:30 PM

wow.... that is unreal... shitty deal for eastgate... another way of looking at the wsop.. playing for your respective tax bureaus... ouch thats harsh

#21 7th December 2008, 8:04 PM

Didnt eastgate become a UK citizen or move there or something? So he wouldnt pay any tax whatsoever, so these tax numbers are very flawed. It would be like 8 million goes to taxes, which isnt THAT bad.

#22 8th December 2008, 1:16 AM

Quote:

Originally Posted by eNTy

-EV to be Danish ..

In strict dollar terms maybe. Living in Denmark means it's offset by a few things: free college education and health care are among them. Is that worth $7M to him? No, probably not.

But at least he shouldn't be tempted to blow what's left on a fancy car - they charge a massive amount of tax on cars there as well.

Last I read was that Eastgate tried to get UK citizenship during the four-month final table delay, but he wasn't successful.

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