from onlinepoker.net:
http://www.onlinepoker.net/poker-new...einz-pay/13035

Before-Tax (After-Tax Prize)
1. Pius Heinz $8,715,638 ($8,715,638) +/- $0
2. Martin Stazko $5,433,086 ($4,618,123); -$814,963 (-15%)
3. Ben Lamb $4,021,138 ($2,497,127); -$1,524,011 (-37.9%)
4. Matt Giannetti $3,012,700 ($1,964,058); -$1,048,642 (-34.8%)
5. Phil Collins $2,269,599 ($1,417,119); -$852,480 (-37.56%)
6. Eaoghan O’Dea $1,720,831 ($1,025,813); -$695,018 (-40.39%)
7. Bob Bounahra $1,314,097 ($919,868); -$394,229 (-29.9%)
8. Anton Makiievskyi $1,010,015 ($838,359); -$171,656 (-17%)
9. Sam Holden $782,115 ($782,115) +/- $0
Totals $28,279,219 ($22,778,220); -$5,500,999 (-19.45%)

Ouch... GG America

So rad that Pius gets to keep all of it.... And I cant believe Eastgate only got 3 of his 9 million... Just absolutely Gross!

Usually O dea wouldn't be taxed because he's irish,but I think he has residence in australia?

updated with differences by % and total net loss

everybody move to austria

OUCH!

Women aren't the rake in life...governments are.

Gambling winnings are tax free in Australia, would be interested in what he was taxed for in that case.

This article is mistaken. Professional players are not exempt. They are working like anyone else. He will probably try to claim he just stopped by while looking for the bingo room but it won't fly.

He's a long time professional (huge nit) online, that would make him subject to Australian tax. He would stay in Ireland and never return for $1million. He's a nit, no chance he pays tax.

The other figures are wrong too. Staszko will pay 0%. It is really easy to move in Europe and avoid taxation.

Anyone with US residence is getting nailed though.

Who Pius? He probably already spoke to an accountant to avoid this if possible. Moving to UK or Monaco solves that.

Remember, he can wait to claim the winnings until next German tax year from harrahs if there is any issue, and move. This is what any foreigner subject to taxation should do, wait until they get residence in a tax treaty country and them claim, especially Canadian player subject to an extra 5% more than any other country in the world.

I thought pius would get taxed on the 800k received in june as he was still technically a german resident no?

Yeah thats 100 percent true. It said he was a student on ESPN so I assume he is studying in australia and didnt want to just dump the course and move back.

yeah I`d go with that. Dunno where the O`Dea figure came from lol. We dont tax gambling winnings in Ireland mainly because they fall under prize winnings- prize winnings were never taxed because of horse racing, which has always been associated with a particular government party....

Pretty amazing with the strong horse racing lobby in america they pay 35% tax. It is the only thing you can legally bet online. The also take a ridiculous amount like 1/3 straight out of the pool for tax. God forbid you ever beat the odds.

taxes system is broken

Eastgate kept it all. He moved to UK right after making the FT.

O'Dear

Heinz moved to the switzerland!!!???

THE Phil Collins?!

austria

Is this tournament even profitable if someone loses 40% of their profit to tax? Normally players can use winnings to offset losses before being taxed, but it does not seem that way here. I struggle to see how playing tournaments where every individual profit is taxed like this can be profitable. Perhaps someone can explain, as these players know a lot more about it than me and they still choose to play.

^^^

ya

yet another reason for a poker player to flee america
37% is ****ing insane

Im thinking it has something to do with hitting a 7 figure score wiping out any losses on the year. Most of these players were probably having winning years so of course the main event winnings will be taxed like any other winnings.

But from what I understand, this event has NOT been taxed like any other winnings. For example, if Eaoghan O’Dea had a terrible year elsewhere and is down about $1m in the rest of his poker playing, he can't simply offset his main event winnings against his losses, as you can with just about any online tournament or cash game, and pay no tax. He has to pay $400k in tax and be down $400k for the year instead of breaking even.

Imagine if every sit'n'go or MTT was taxed this way - it would become impossible to beat them. Why is it different for the main event? I don't actually know the details - are the earlier places taxed in the same way or not? What about other WSOP events?