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Half of Ben Lamb's WSOP Prize Paid to Taxes
While Pius Heinz and Sam Holden keep all of their World Series of Poker (WSOP) winnings, the others will have to pay a huge amount to taxes. Ben Lamb and Eoghan O'Dea are the biggest losers.
According to the German-American agreement on taxes, the newest poker world champion, Pius Heinz can keep all his WSOP Main Event winnings of $8,715,638 withouth having to pay any taxes. This agreement states that he doesn't have to pay taxes in the USA as a German citizen, neither he has to in his hometown, Vienna, Austria.
The Czech Martin Staszko won $5,433,086, which, according to the Czech-American agreement, he doesn't have to pay in the States, however, he has to in the Czech Republic. He has to pay 15% of his winnings, which is $814,963, a quite nice sum.
The biggest loser in this taxation case is the WSOP Main Event's 3rd place, Ben Lamb. He took home $4,021,038, from which he will pay $1,524,011 to taxes, plus he will have to pay $241,268 to Oklahoma state.
The second biggest loser is the 6th place finisher Eoghan O'Dea. The Irish player won $1,720,396, which is tax-free in the United States, but he has to pay an enormous amount according to Irish rules. They state that professional poker players (amateur player's winnings are tax-free) have to pay 20% taxes after the first €36,400 won, any winning above that entails a 41% tax. O'Dea's tax is therefore $695,018.
WSOP Main Event winnings, and what is left of it after taxes:
1. Pius Heinz --> $8.715.638 --> $8.715.638
2. Martin Stazko --> $5.433.086 --> $4.618.123
3. Ben Lamb --> $4.021.138 --> $2.255.859
4. Matt Giannetti --> $3.012.700 --> $1.964.058
5. Phil Collins --> $2.269.599 --> $1.417.119
6. Eoghan O’Dea --> $1.720.831 --> $1.025.813
7. Bob Bounahra --> $1.314.097 --> $919.868
8. Anton Makiievskyi --> $1.010.015 --> $838.359
9. Sam Holden --> $782.115 --> $782.115
All winnings --> $28.279.219 --> $22.536.952
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