Payout Structure for the 2006 ME - JUST SICK!

[shortstacked]

PLACE PRIZE

1 $12,000,000

2 $6,102,499

3 $4,123,310

4 $3,628,513

5 $3,216,182

6 $2,803,851

7 $2,391,520

8 $1,979,189

9 $1,566,858

10 - 12 $1,154,527

13 - 15 $907,128

16 - 18 $659,730

19 - 27 $494,797

28 - 36 $329,865

37 - 45 $247,399

46 - 54 $164,932

55 - 63 $123,699

64 - 72 $90,713

73 - 81 $65,973

82 - 126 $51,129

127 - 189 $47,006

190 - 252 $42,882

253 - 315 $38,759

316 - 378 $34,636

379 - 441 $30,512

442 - 504 $26,389

505 - 567 $22,266

568 - 621 $20,617

622 - 666 $19,050

667 - 720 $17,730

721 - 774 $16,493

775 - 819 $15,504

820 - 873 $14,597

 

[withawedge]

Save up and go play next year. Good Investment for your 10k lol

:withstupi

 

[shortstacked]

i won a tourny this year, got a seat and the site pull it on me, always next year

 

[tranqxility]

Wow... you bubble out of the final table and still get a million.

 

[Jack Daniels]

10 - 12 $1,154,527
13 - 15 $907,128

Wow... you bubble out of the final table and still get a million.

Even sicker than that is that it is top 12 players that are all instant millionaires and 13-15 are just shy of it.

Count me in.

 

[ChuckTs]

wooowwwww.....
can't imagine what it's going to be like in 5 years....

 

[Jack Daniels]

wooowwwww.....
can't imagine what it's going to be like in 5 years....

You know, I heard a rumor a couple times now that they are going to cap the total number of entrants going forward, although the number for the cap has varied. I've heard 8K (obviously not true because of this year). Also heard 10K entries. Guess time will tell.

 

[wsorbust]

That is a sickkk payout structure. Anyone see the even siiickkker amount of entrants you have to dodge to make it in the money? Honestly, anyone find it anywhere? I've looked without prevail but only could find the number of entrants left at the start of the day.

 

[Jack Daniels]

I couldn't find the exact count in my short, 2 minute search, but I did find this article from Fox Sports http://msn.foxsports.com/other/story/5815468 that says it was over 8500 entrants.

 

[JeeDub84]

Holy crap! I cant imagine how the winner is going to feel after winning 12 million dollars. I also wonder how much a professional would get taxed on such a winning because poker is thier source of income. I know Hachem dodged around a 50% tax cut from the Australian government last year on his winnings because poker at the time was a hobby for him and not a profession.

 

[Lo-Dog]

That is a sickkk payout structure. Anyone see the even siiickkker amount of entrants you have to dodge to make it in the money? Honestly, anyone find it anywhere? I've looked without prevail but only could find the number of entrants left at the start of the day.

Well I am too lazy to even do a 2 minute search but I would guess there were 8730 entrants. Paying out top %10.

 

[Welly]

There are not many larger fields than that.

Well, apart from a party poker freeroll. I have just checked how many people play them.

10,000 entrants! Prize for negociating the entire field?

$53

 

[tranqxility]

Also too lazy to search, but yeah, it was in the 8700's

 

[DESSERTLADY]

Here are the stats from Pokerwire!

Buy In:-Prize Pool:-Entries:
$10,000-$82,466,200-8,773

 

[Tammy]

Holy crap! I cant imagine how the winner is going to feel after winning 12 million dollars. I also wonder how much a professional would get taxed on such a winning because poker is thier source of income. I know Hachem dodged around a 50% tax cut from the Australian government last year on his winnings because poker at the time was a hobby for him and not a profession.

I thought I remembered hearing that Aussie's don't get taxed on their gambling winnings...unlike the US, whose government has their paws in EVERYTHING (land of the free, right?).

 

[ChuckTs]

82 million dollar pool......'nuff said

 

[withawedge]

This is what the Fossilman had to pay

"As is well known, I won $5M. I had a backing deal, my backers got about $2.1M, leaving me with $2.9M. After paying state and federal taxes, I ended up with about $1.7M. A far cry from $5M, but still a very happy number"

:withstupi

 

[ChuckTs]

This is what the Fossilman had to pay

"As is well known, I won $5M. I had a backing deal, my backers got about $2.1M, leaving me with $2.9M. After paying state and federal taxes, I ended up with about $1.7M. A far cry from $5M, but still a very happy number"

:withstupi

Didn't he satellite through PS? Or am I completely wrong in that assumption

 

[withawedge]

Thats what it says on PS and on his own web site. Maybe the backers allowed him to give up work and go full time on the poker circuit

I won my seat for the 2004 wsop on poker stars, and they are running numerous satellites and supers for this year’s event. Chris Moneymaker, the 2003 Champion, also won his seat on Poker Stars. It is pretty likely that the 2005 Champion will also qualify online, because I am guessing that close to half of all the participants will win their seats on Poker Stars or some other online site.

:withstupi

 

[wsorbust]

I thought I remembered hearing that Aussie's don't get taxed on their gambling winnings...unlike the US, whose government has their paws in EVERYTHING (land of the free, right?).

That might be true, but you would think he would have had to pay taxes to the U.S., since he won it there. Or, at least have to claim it at customs or something.

 

[withawedge]

Who is ready to move to Australia?

world series of poker champion Joe Hachem's lucky streak still hasn't ended, as he pulled a miracle card out on the river against the Australian Taxation Office.

He can take home all of his WSOP winnings tax free.

Under Australian law, Hachem won't have to pay income tax on the $7.5 million he won because he was pursuing a hobby, not a career.

The Melbourne father of four defeated over 5,600 poker players en route to the main event victory in July.

Hachem's lawyers said the Australian Taxation Office had found their client was not in the business of playing poker at the time of his win. Hachem has since become a professional poker player.

"As a result of this finding, the poker winnings were classified as income derived from a hobby, and thus not subject to Australian tax," his lawyer, Peter Donovan, said in a statement.

"The distinction between the conduct of a business and the mere pursuit of a hobby is often a difficult distinction to draw.

"However, the fact that you excel at a particular hobby should not be fatal for tax purposes."

:withstupi

 

[wsorbust]

That's some great info. Mind me asking the source(s) of your quotes and info? I see who said it...but is there a link? I'd really like to read the whole article since it sounds like it'd be a very good read. I'll google it myself eventually if it's too much trouble. Thanks.


Anyone know about canada's laws, taxes and such, I'd consider moving there for a tax break. eh. Maybe...well. eh. Their bacon isn't really my fancy, but I guess the beer makes up for that.

Buy In:-Prize Pool:-Entries:
$10,000-$82,466,200-8,773

The commercial for the Rio and WSOP on ESPN say the total is $100 Million...it goes something along the lines of "watch blah blah play for their share of $100 Million in this year's WSOP." Only $18 million for all the other tournaments? hmm...and I wonder what kind of $ Harrah's is bamboozling everyone out of compared to previous years, if any.

 

[withawedge]

No problem,

The Fossilman stuff is off his own site, put Fossilman in Google
Hachem stuff. Type this into Google

DID JOE HACHEM PAY TAXES ON HIS WSOP 2005 WINNINGS. Talks about Canada Tax as well

Happy Reading

:withstupi

 

[Tammy]

That might be true, but you would think he would have had to pay taxes to the U.S., since he won it there. Or, at least have to claim it at customs or something.

I don't think so, since he's not a US citizen...but I could be wrong.

Thanks for the info wedge.

 

[don8ions]

Pokerlistings has an article about a kid I grew up with from Portland who's currently 13th in chips in the ME. Pretty crazy, I'm looking that guy up when I go home in September. His name is Jordan Rich, go to the website and check it out.