2+2 WSOP lammer exchange - Page 29 - WSOP and Tournament Circut

I think their motivation is simply to cycle more money through their WSOP tournaments by forcing lammers to be used to buy into upcoming events. If the policy was enforced and the actual winner had to play another WSOP event when they would have preferred to pocket their winnings or enter events elsewhere, then the WSOP essentially gets to rake it (at least) twice, plus slightly larger fields and prize pools than would otherwise have happened.

Thanks for the responses.

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06-19-2022 , 05:57 PM

#702

Jeffage

Carpal \'Tunnel

Join Date: Sep 2002 Posts: 8,543

Could be wrong, but my guess is it’s something tax related. If you win a 10k seat (ie lammers to be used to buy in), no paperwork is required unless you make the money above a certain net profit in that event. If instead they get someone to give them 10k cash for the lammers, they are getting around reporting something that should be a taxable event (ie if the 1k single table satellite paid 10k cash instead of lammers a tax form would have been issued).

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06-19-2022 , 10:59 PM

#703

MoreDeadMoney

journeyman

Join Date: Nov 2009 Posts: 380

Quote:

Originally Posted by Jeffage

I won't rule this out but most of the SNG's and even MTT's pay far south of the $5K W2 threshold and they pay lammers. But agree it's quite possible they want a consistent policy to be able to pay 10K+ for the bigger satellites.

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06-20-2022 , 05:38 PM

#704

synapse

journeyman

Join Date: Mar 2012 Posts: 271

The cash value is used when calculating the reporting threshold of 5k. Lammers have no "cash value".
Eg: if you make 5100 in a 1500 event
- not reportable if you paid cash as winning is 3600
- reportable if you paid lammers.

Sent from my Pixel 4a (5G) using Tapatalk

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06-24-2022 , 12:27 AM

#705

JoeSlim

journeyman

Join Date: Sep 2016 Posts: 275

What are the lammers like this year? Still $500 units? Bigger denoms?

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06-24-2022 , 02:31 AM

#706

pig4bill

Carpal \'Tunnel

Join Date: Dec 2005 Posts: 33,766

I only saw 500's.

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06-25-2022 , 12:21 PM

#707

suprsoldier

stranger

Join Date: Aug 2017 Posts: 4

Got (2) 500's in hand, siting in the Sportsbook directly across from the tournament area. Flying out of here in 5.5 hours.

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07-03-2022 , 10:34 PM

#708

riverph7

veteran

Join Date: Dec 2006 Posts: 2,386

Will buy any numbers with discount DM me.

Tonight only as need to buy for ME

Last edited by riverph7; 07-03-2022 at 10:44 PM.

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