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Old 10-29-2005, 06:23 PM
Joey Legend Joey Legend is offline
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Join Date: Jun 2005
Posts: 21
Default Re: why WSOP main event only 10K?

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As like everything... it has to do with money.

The IRS and the federal government take transaction slips for every cash transaction over $10K in america, whether you are buying a car, making a cash bank deposit, ect. They are called either Race 10K or 10K stipulation forms.

Most poker players... especially people who play poker for a living... don't want the IRS or the feds to find out that someone who hasn't pay taxes for 10 year came up with $25K to enter one poker tournament.

[/ QUOTE ]

Actully, if this is the same law that causes banks to report high cash deposits, the letter of the law is "10,000 dollers or more"
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