What the Main Event finalists might pay in tax
Some players get to keep more money than players who finished ahead of them - find out the tax likely to be paid on the Main Event prizes.
You may think George Holmes was the 2nd biggest winner from the WSOP, it was in fact the Tax Man.
As is customary after the series, Russ Fox of Taxable Talk broke down what each final tablist is expected to pay in tax on their Main Event winnings. As is often the case it is a jaw dropping comparison of what some countries pay in tax on large sums of money won.
Koray Aldemir is the biggest winner of all, as not only did he win the top prize he got to keep every cent of it. That is because despite being a German native he currently lives in Austria where poker winnings from overseas are tax free.
The same is true of Brits Jack Oliver and Jareth East, who both keep all $3 million and $1.1 million of their Main Event winnings respectively.
Quite the contrast with US runner-up George Holmes who despite bagging the $4,300,000 2nd place prize is estimated to only keep $2,497,989 of it. That means third place finisher Oliver will keep more prize money than him. Holmes will likely pay more in tax than 5th place finisher Ozgur Secilmis won overall.
Likewise East, who finished in 8th place, keeps more money than both Alejandro Lococo (7th) and Hye Park (6th).
In total $4,960,663 is expected to be paid in tax, which is more than the official 2nd place prize. $3,767,973 of which goes straight the IRS in America.
This is the full breakdown of the prizes and what the player might keep after tax:
| Position | Player | Prize | Prize after tax |
|---|---|---|---|
| 1st | Koray Aldemir  |
$8,000,000 | $8,000,000 |
| 2nd | George Holmes  |
$4,300,000 | $2,497,989 |
| 3rd | Jack Oliver  |
$3,000,000 | $3,000,000 |
| 4th | Joshua Remitio |
$2,300,000 | $1,295,607 |
| 5th | Ozgur Secilmis  |
$1,800,000 | $1,100,425 |
| 6th | Hye Park |
$1,400,000 | $749,709 |
| 7th | Alejandro Lococo  |
$1,225,000 | $796,250 |
| 8th | Jareth East |
$1,100,000 | $1,100,000 |
| 9th | Chase Bianchi |
$1,000,000 | $624,357 |
How much tax should poker players pay on their winnings (extra points for not saying 'zero percent')? Let us know in the comments:
