| Posted by: PreciousLor at August 4, 2006, 11:17 pm | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Quote: Originally Posted by dastrey
I'm betting it has something to do with the round for round structure. They are anticipating many players getting knocked out on the bubble and will probably split the money from 889th place.
I cant bear it any longer
It is the total!!!! ie the total prize pool
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| Posted by: shortstacked at August 4, 2006, 9:46 pm | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Quote: Originally Posted by DESSERTLADY
Bombjack,
Why do you think this is the sweetspot? I looked at the page you linked to but not sure what that figure is. They are only paying down to 873.
They only pay the top 10% or so of the field and the field is 8773.
look down farther at place 889
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| Posted by: DESSERTLADY at August 4, 2006, 8:47 pm | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Quote: Originally Posted by Bombjack
Sickest thing about the payout structure is that the sweet spot is 889th place. Don't believe me? Check this out:
http://www.worldseriesofpoker.com/pd..._Structure.pdf
Bombjack,
Why do you think this is the sweetspot? I looked at the page you linked to but not sure what that figure is. They are only paying down to 873.
They only pay the top 10% or so of the field and the field is 8773.
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| Posted by: don8ions at August 4, 2006, 3:45 pm | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Pokerlistings has an article about a kid I grew up with from Portland who's currently 13th in chips in the ME. Pretty crazy, I'm looking that guy up when I go home in September. His name is Jordan Rich, go to the website and check it out.
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| Posted by: juiceeQ at August 4, 2006, 3:36 pm | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Quote: Originally Posted by wsorbust
That might be true, but you would think he would have had to pay taxes to the U.S., since he won it there. Or, at least have to claim it at customs or something.
I don't think so, since he's not a US citizen...but I could be wrong.
Thanks for the info wedge.
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| Posted by: withawedge at August 4, 2006, 11:50 am | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
No problem,
The Fossilman stuff is off his own site, put Fossilman in Google
Hachem stuff. Type this into Google
DID JOE HACHEM PAY TAXES ON HIS WSOP 2005 WINNINGS. Talks about Canada Tax as well
Happy Reading
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| Posted by: wsorbust at August 4, 2006, 11:41 am | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
That's some great info. Mind me asking the source(s) of your quotes and info? I see who said it...but is there a link? I'd really like to read the whole article since it sounds like it'd be a ery good read. I'll google it myself eventually if it's too much trouble. Thanks.
Anyone know about Canada's laws, taxes and such, I'd consider moving there for a tax break. eh. Maybe...well. eh. Their bacon isn't really my fancy, but I guess the beer makes up for that.
Quote:
Buy In:-Prize Pool:-Entries:
$10,000-$82,466,200-8,773
The commercial for the Rio and WSOP on ESPN say the total is $100 Million...it goes something along the lines of "watch blah blah play for their share of $100 Million in this year's WSOP." Only $18 million for all the other tournaments? hmm...and I wonder what kind of $ Harrah's is bamboozling everyone out of compared to previous years, if any.
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| Posted by: withawedge at August 4, 2006, 10:57 am | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Who is ready to move to Australia?
World Series of Poker champion Joe Hachem's lucky streak still hasn't ended, as he pulled a miracle card out on the river against the Australian Taxation Office.
He can take home all of his WSOP winnings tax free.
Under Australian law, Hachem won't have to pay income tax on the $7.5 million he won because he was pursuing a hobby, not a career.
The Melbourne father of four defeated over 5,600 poker players en route to the main event ictory in July.
Hachem's lawyers said the Australian Taxation Office had found their client was not in the business of playing poker at the time of his win. Hachem has since become a professional poker player.
"As a result of this finding, the poker winnings were classified as income derived from a hobby, and thus not subject to Australian tax," his lawyer, Peter Donovan, said in a statement.
"The distinction between the conduct of a business and the mere pu... | | Read Entire Entry |
| Posted by: wsorbust at August 4, 2006, 10:32 am | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Quote:
I thought I remembered hearing that Aussie's don't get taxed on their gambling winnings...unlike the US, whose government has their paws in EVERYTHING (land of the free, right?).
That might be true, but you would think he would have had to pay taxes to the U.S., since he won it there. Or, at least have to claim it at customs or something.
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| Posted by: withawedge at August 4, 2006, 10:29 am | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Thats what it says on PS and on his own web site. Maybe the backers allowed him to give up work and go full time on the poker circuit
I won my seat for the 2004 WSOP on Poker Stars, and they are running numerous satellites and supers for this year’s event. Chris Moneymaker, the 2003 Champion, also won his seat on Poker Stars. It is pretty likely that the 2005 Champion will also qualify online, because I am guessing that close to half of all the participants will win their seats on Poker Stars or some other online site.
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| Posted by: ChuckTs at August 4, 2006, 10:25 am | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Quote: Originally Posted by withawedge
This is what the Fossilman had to pay
"As is well known, I won $5M. I had a backing deal, my backers got about $2.1M, leaving me with $2.9M. After paying state and federal taxes, I ended up with about $1.7M. A far cry from $5M, but still a ery happy number"
Didn't he satellite through PS? Or am I completely wrong in that assumption
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| Posted by: withawedge at August 4, 2006, 10:10 am | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
This is what the Fossilman had to pay
"As is well known, I won $5M. I had a backing deal, my backers got about $2.1M, leaving me with $2.9M. After paying state and federal taxes, I ended up with about $1.7M. A far cry from $5M, but still a ery happy number"
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| Posted by: juiceeQ at August 3, 2006, 10:05 pm | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Quote: Originally Posted by JeeDub84
Holy crap! I cant imagine how the winner is going to feel after winning 12 million dollars. I also wonder how much a professional would get taxed on such a winning because poker is thier source of income. I know Hachem dodged around a 50% tax cut from the Australian government last year on his winnings because poker at the time was a hobby for him and not a profession.
I thought I remembered hearing that Aussie's don't get taxed on their gambling winnings...unlike the US, whose government has their paws in EVERYTHING (land of the free, right?).
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| Posted by: Lo-Dog at August 2, 2006, 9:34 pm | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Quote: Originally Posted by wsorbust
That is a sickkk payout structure. Anyone see the even siiickkker amount of entrants you have to dodge to make it in the money? Honestly, anyone find it anywhere? I've looked without prevail but only could find the number of entrants left at the start of the day.
Well I am too lazy to even do a 2 minute search but I would guess there were 8730 entrants. Paying out top %10.
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| Posted by: JeeDub84 at August 2, 2006, 9:33 pm | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Holy crap! I cant imagine how the winner is going to feel after winning 12 million dollars. I also wonder how much a professional would get taxed on such a winning because poker is thier source of income. I know Hachem dodged around a 50% tax cut from the Australian government last year on his winnings because poker at the time was a hobby for him and not a profession.
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| Posted by: wsorbust at August 2, 2006, 8:36 pm | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
That is a sickkk payout structure. Anyone see the even siiickkker amount of entrants you have to dodge to make it in the money? Honestly, anyone find it anywhere? I've looked without prevail but only could find the number of entrants left at the start of the day.
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| Posted by: Jack Daniels at August 2, 2006, 8:17 pm | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Quote: Originally Posted by ChuckTs
wooowwwww.....
can't imagine what it's going to be like in 5 years....
You know, I heard a rumor a couple times now that they are going to cap the total number of entrants going forward, although the number for the cap has aried. I've heard 8K (obviously not true because of this year). Also heard 10K entries. Guess time will tell.
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| Posted by: Jack Daniels at August 2, 2006, 7:43 pm | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
Quote: Originally Posted by shortstacked
10 - 12 $1,154,527
13 - 15 $907,128
Quote: Originally Posted by tranqxility
Wow... you bubble out of the final table and still get a million.
Even sicker than that is that it is top 12 players that are all instant millionaires and 13-15 are just shy of it.
Count me in.
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| Posted by: shortstacked at August 2, 2006, 4:02 pm | | Topic: Payout Structure for the 2006 ME - JUST SICK! Forum: Card Chat |
PLACE PRIZE
1 $12,000,000
2 $6,102,499
3 $4,123,310
4 $3,628,513
5 $3,216,182
6 $2,803,851
7 $2,391,520
8 $1,979,189
9 $1,566,858
10 - 12 $1,154,527
13 - 15 $907,128
16 - 18 $659,730
19 - 27 $494,797
28 - 36 $329,865
37 - 45 $247,399
46 - 54 $164,932
55 - 63 $123,699
64 - 72 $90,713
73 - 81 $65,973
82 - 126 $51,129
127 - 189 $47,006
190 - 252 $42,882
253 - 315 $38,759
316 - 378 $34,636
379 - 441 $30,512
442 - 504 $26,389
505 - 567 $22,266
568 - 621 $20,617
622 - 666 $19,050
667 - 720 $17,730
721 - 774 $16,493
775 - 819 $15,504
820 - 873 $14,597
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