Ok, as described by RedOak, it’s ridiculous. But this makes more sense. However I’m kinda surprised NV didn’t tax poker revenues prior to 2020. Anyone have a link to when this changed? Seems odd to have excluded all these years.

Anyhow, revenue taxes apply in other games, obviously, but they are not direct taxes on players like this. And it looks like there is a ballot initiative next year to increase this rate to 9.75%.

https://ballotpedia.org/Nevada_Gaming_Tax_Increase_on_Monthly_Revenue_abov e_$250,000_Initiative_(2022)

I wonder if WSOP will go back to June in 2022?

I think most people will give you full value if they are already waiting in line to register with cash.

I think the reasons behind the discount is that apparently if you have 'BIC" as your form of payment on the tournament receipt you will not be able to write it off as a loss on your taxes end of year as the buy-in was with "won chips" as that's technically the only way to legitimately obtain those tourney lammers.

Honestly in has been my experience that almost no one pays face value for a Lammer but the discount is normally pretty moderate I've bought and sold them from $950 to $980 in the past - its just a negotiation. People do sell them to players standing in line to buy into tourneys and all around the Satellite area. As to the tax implication - that is a FAR more complicated issue because of all the permutations of the individual's situation (amateur, professional, itemized deductions, standard deduction, etc ) and candidly very few non professionals have a clue both what the true IRS tax law is as it relates to gaming Income. The WSOP doesn't make this any easier since they have in the past refused to honor an IRS form 5754 and will issue the W2-G only to a single taxpayer. Again I have digressed as this discussion is better suited for a different thread.

No, they don’t pay full value. I’ve sold many lammers and, as stated, you usually get about 95% face value.

They’re doing YOU a favor by buying them and in return, they get a small discount on their next tournament buy in.

Here is a link to the text of the bill that now classifies tournament fees as gross gaming revenue and thus now subject to 6.75% gaming tax: (passed at end of 2019 session)
http://search.leg.state.nv.us/isysqu...f2e1/3/hilite/

Here is a link showing the current tax rate of 6.75% of gross revenue for casinos.

https://lasvegassun.com/news/2011/oc...other-markets/

I know there’s another whole thread actually all about this - but I just can’t find it right now, so posting this here.

https://www*****inepokerreport.com/5...home-revealed/

Link appears to not be working. Anyway it was an article from today about the WSOP possibly moving to Bally’s/Paris next year.

Onlinepokerreport.com

Report: WSOP Moving to Paris and Bally’s for ‘2022 and Beyond’

https://www.pocketfives.com/articles...beyond-635540/

**** i was thought they're moving to paris, france
was already jumping up and down

Thanks. Still crazy they left this out all these years. And this is definitely bad news for live tournament poker. Perhaps not for major events like the WSOP, but in general.

This is better than RIO IMO, but I sure wish they would have used the new convention center. Maybe that thing is just getting booked up, even during summer. Or maybe its too expensive for the WSOP. IN any case, it would have been nice.

IMO it was always a long shot WSOP was moving to that new convention center. The loss of players due to increased fees providing an increased profit margin expected for a 1st class location more than offsets the gain of players who are attracted to a slick new facility.

I think most acknowledge tournament players will accept old/substandard facilities. Rio is/was evidence of that.

It forgets that lots of hallway space is used up in the Rio. I wouldn't mind it being there, because it would be easier to get to the WSOP if I could manage to get a room there. The bad part is it's much harder to get anywhere else from Bally's because it's on the wrong side of the Strip. Rio to Orleans is a quick and easy trip, much more time consuming and aggravating from Bally's. Plus, I get most of my eats from the west side of I-15.

I thought Paris, Texas, and that would make me a lot happier than France.

I've attended a fair number of conventions at Bally's/Paris. I don't remember anything bad about them. Every place is going to use the same crappy convention chairs, and the tables will come over from Rio.

What if I told you that there are ZERO taxes on poker winnings in France.. would texas still be your choice?

I would say that is basically true if you are a NON professional French citizen. As with almost everything taxation the devil is in the details

I've sold a few lammers, all at face value.

so basically, the entire world population minus a few hundred french pros

Au contraire mon amis

The Devil is the United States Federal Income tax that is due. Simply because French taxes may not apply does not mean that a US citizen or a Resident alien gets off the hook scott free.

Mais oui.

Thanks for the info

Glad I booked my hotels for Oct 9-10 a few weeks back (though they're all ludicrous prices, $150/nt for the Plaza ) - I imagine they're going to get even worse with the Fury/Wilder fight getting moved to Oct 9 now

arghhhh... that must suck

I sure hope not. I would love for there to be a fall WSOP every year. But imagine due to summer traffic and people's schedules opening up during summer, they'll probably return to normal next year.