Originally Posted by JimmyG_415
and one guy had a meal in first hour
Are you fucking serious?
I get nervous for $ 200 entry tournament, no way could I eat at that table.
and one guy had a meal in first hour
Are you fucking serious?
I get nervous for $ 200 entry tournament, no way could I eat at that table.
holy shit what a hand between Antonio and Mercier. aces vs kings and Esfandiari is up to around 17 million
Sick hand KK vs AA... LOL
Rofl kill yourself if you rail this shit
i'll get right on that while they're on dinner break
the stream seemed to be all Micon'd up for me. Shits the bed every few seconds and crashes.
click the 'HD' button...download Veetle if you have to.
Ui'll get right on that while they're on dinner break
Rofl
god i hate both these commentators - Doc Sands, Joe Hachem time switch it up
Johnny Chan and Patrik Antonius were supposed to play in this tournament.
What the fuck happened? They play in high stakes cash games in Macau all the time for millions of dollars.
I'm sure next year the cap for this $1 million dollar buy-in tourney will be set at 100 players.
However Caesars/Harrah's will find a way to overcharge and fuck the players out of their cash.
Hachem is brutal, why the dislike for Sands? I thought he did a pretty good job.
least we'll have some decent comms tonight in lon/norm and olivier, can't stand tuchman.
Tuchman reminds me of Brian Kilmeade when he used to do sports
I write things about poker at my Poker Blog and elsewhere on the Internets
I didn't read the thread and I assume someone pointed out that you are not very knowledgeable about how poker taxes work. There is an IRS form that even I turn into the IRS most years called the W2-G
Basically you count your profits minus your expenses at the END OF THE YEAR. This includes hotel, gas food etc.
Let's say you play 2 tournaments in 2012. Let's say you win the first and the prize is $1,060,000. Lets say you paid 50k entry...so you have $1,010,000 in profit. Lets say you flew in from Florida and your total travel expenses are $5k a tournament. You have $1,005,000 in taxable income.
So when you travel to tourney number #2 the $1,000,000 buy in plus travel costs.
You now have zero in taxable income. it is set up just like a business dude.
If I sell cranes and I buy one for a million, make 300k and use that money to buy another one which I sell in 2013....my federal taxable income is zero fro the year if I hadn't sold the second crane for a profit by Dec 31, 2012. They don't tax me on every crane i sell, they tax me at the end of the year after i paid my secretaries, rent etc. Its the same with poker. Or blackjack. Its a business. They dont tax me after every single fucking blackjack hand or even every single winning night or month. taxes or yearly.
the only exception on the top of my head that is relevent is slot jackpots and other luckbox jackpots. The feds take the money out AT THE TIME, similar to your paycheck. This is to prevent unsophisticated degens from spending those winnings and then claiming poverty. Which happened often. Anyway even if you win a 3 million slot jackpot, pay 1 million in fed tax upfront....if you then entered the 1 million event and lost.......and blew the other 2 million on craps you would file that on your taxes that you made zero gaming income and the IRS would give you a tax refund of one million on the money they took out of your slot jackpot.
It all gets figured out yearly. Not by the moment. As that would constitute a double tax at the end of the year.
i hope this helps.
Last edited by GAMBLE-BOT; 07-03-2012 at 10:50 AM.
The betting odds on this thing are out of line, way overestimating the skill advantage in a donkament where there really aren't any weak players that will fold to cash up a level. They will take spots and let the cards runout. So the odds should be much closer to the chipstack advantage. This is especially true given the prize weight on first. The tricky ICM spots where amateurs make mistakes are not really there. Making what is normally a bad call with a good hand is now a good call because of the top heavy payout.
There is just no way anyone is a 2:1 favorite in this structure with these players.
Set odds:
Payouts:
Chip counts:
I'm sure that you know more about it than I do but my main point was that for someone who has had tax problems in the past to blow a million that he just won is absurd. I'm not sure about Nevada but in Mississippi they will deduct state taxes(albeit it not a high percentage) before they pay you out on any score over $1200 and give you a state w-2g or i9g I can't remember which number.
Last edited by shortbuspoker; 07-03-2012 at 09:11 AM. Reason: spelling
Not that I'd bet but if I was I think their is some real value on Brian Rast to ship it.
At 8:1 I think a lot of smart money will pick Rast. At the odds layed the best bets are against Tricket and Antonio.Not that I'd bet but if I was I think their is some real value on Brian Rast to ship it.
Exactly. I think the worst bet in history is on the British guy. This guy is staked heavily and he needs to scrape into the top 3 or 4 to have a decent profit. I can't imagine Rast having a favorable stake deal either, but at least he is going off at 8-1.
If helmuth is staked he is getting a great deal IMHO and it shouldnt be that great of a factor. I know people dog him on his play but he is so well known he can get a stake with a great payback. I really believe he is the best bet considering the odds. I like him in these situations. He does well and he is only against 3 other people who still play poker for a living.
Guy Liberte is not winnning his own tourney and he will meltdown if he gets in final 3 trying to be too flambo. 6-1? Come on man.
Esfiandari is the second worst bet here. He probably is getting stakes too and 2 to 1 is ridiculous.
I think Einhorn or Baldwin is the second best bet here.
Id bet-
Helmuth
Einhorn
baldwin
Yong
Rast
Liberte
Esfiandari
Trickett
If anyone likes one of these more than i do in a different order, I will book your bet if you book mine.
In other words. If you like Trickett and want to bet against Rast, I will take it. i won't bet against Einhorn and bet on Rast though for example.
Let me know.
I'm sure that you know more about it than I do but my main point was that for someone who has had tax problems in the past to blow a million that he just won is absurd. I'm not sure about Nevada but in Mississippi they will deduct state taxes(albeit it not a high percentage) before they pay you out on any score over $1200 and give you a state w-2g or i9g I can't remember which number.
Again, the state can take out the taxes like a jackpot, but if you don't make any money on gambling they have to end it back. If you win small poker torunies and have this state tax taken out like in Louisiana, but then dont file a LA return stating you lost x gambling at craps with some ATM machine receipt....you just paid a stupid tax. Especially in MS
No state tax in Nevada would apply.
Yes he is putting too much of his bankroll if he he isnt staked.
Even if i was the grinder this isn't a good tourney pay out and field to have much of an edge IMO. The only wildcard is establishing yourself as a brand like Helmuth. If this thing takes off on TV, and I know zero about what kind of TV will apply, then being on camera a lot in a well promoted TV tourney can be worth money in future horseshit freerolls at local indian casino championships, ad money and guest appearances, if executed correctly. Phil works this angle now, so does Antonio, but I have never heard of Grinder being sponsored by anyone anywhere in brick or mortar.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Reply With Quote
