« What sunglasses does Daniel (Dan) Quach wear in the World Series Of Poker) WSOP)?
wsop poker did pros start with fever chips this year? »

Jerry Yang WSOP Poker Champion get to keep all of his winnings?

donky.k0ng asked:


Does he get to keep all the cash or does some go to taxes?

wsop poker

This entry was posted on Thursday, February 7th, 2008 at 3:22 pm and is filed under Gambling. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.


Related WSOP Europe News


  • Jerry Yang World Series Poker Champion

    • GamerPure asked: Jerry Yang, first Hmong to win the World Series Poker tournament on July 2007. $8.25 Mill. ...
  • europe wsop

    • The WSOP europe this year was so successful, many professional poker players are looking forward to the 2008 wsop in Europe. The experts believe that the size of the field should double for the nex...
  • WSOP Europe!

    • The inaugural WSOP Europe begins September 6, 2007 with a three-day, £2,500 HORSE event at The Casino at The Empire, LCI's newest casino in Leicester Square. The Empire will also be the host casin...
  • FAQ

    • This web site is here to inform you with information regarding the WSOP Europe. The World Series of Poker started in Las Vegas Nevada in 1970. The Grand Daddy of all poker tournaments debuted ...
  • In the World Series of Poker (WSOP) Main Event how many players cash-in or make profit?

    • SpeedySteel asked: I was wondering how many players normally qualify for the WSOP Main Event. What is their buy-in, and how many of those players actually receive profit for their play?...

    3 Responses to “Jerry Yang WSOP Poker Champion get to keep all of his winnings?”

    1. When you win cash like that, it is immediately taxed under the capital gains provision of the tax law. I think they immediately withhold about 35%. Capital gains tax is near 35% - 40% but I am not sure.

    2. It’s one of those completely unfair government scams. Let’s face it, 6000 or so people each put up about $10,000. The casino takes a small portion to pay for their time, space and staff. The rest of that money is put into a big pile, the lions share going to the winner, in this case Wang.

      So he wins this money that all the poker players put into the kitty, and now the government wants 35%. Hardly seems fair really.

      After all, I give my friend $100, should the government get to steal $35 of that?

      So whatever his prize was (I forget the exact amount now) I’d say the government took about a third of it.

    3. The government takes 35% (I think) of any winnings over a certain amount. I can’t remember what it is off the top of my head, but it’s quite a bit. Why wouldn’t they? It’s income, and taking money out is no different than withholding part of your paycheck.